Revised Fees on Bank Audit

This query is : Resolved 

13 August 2007

The Circular dated 6th June 2007 clearly says that Certification Fees @ 12% of the Basic Audit Fee is payable to Branch Auditors.Banks are now taking a view that this fee is payable only to the Statutory Central Auditors and not to the Branch Auditors which is very unjust.Please air your views

Rsn Associates (Expert)
14 August 2007

This requires immediate intervention by the ICAI . Many members are likely to be affected .

R S Nambi
R S N & Associates
Chartered Accountants

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