Mef empanelment criteria for 2012-13 by rbi for stat audit
This query is : Resolved
01 November 2012
CASE : My firm status as on 01.01.2012 was partnership and I was eligible for Category III. However on Draft MEF the category has been shown as IV (proprietorship).
On 15.03.12 one of the partner has resigned and rejoined on 25.03.12 rendering the firm as Propeietorship for 10 days.Does this effect the Category. I am of the view that status as on 01.1.2012 is to be considered while making the panel. Please forum advise my recourse if any and whether I am correct or not
On 15.03.12 one of the partner has resigned and rejoined on 25.03.12 rendering the firm as Propeietorship for 10 days.Does this effect the Category. I am of the view that status as on 01.1.2012 is to be considered while making the panel. Please forum advise my recourse if any and whether I am correct or not
Amol S Joglekar
(Expert)
04 November 2012
My dear; please have some consideration towards the concept embedded in "events occuring after balance sheet date" Materiality.... It would have been very easy for all the elite people to form a firm on 1.1.xxxx and disolve the same very next day... and enjoy cat 1 or cat 2 status.....
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