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Statutory bank auditor

This query is : Resolved 
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(Querist)
01 April 2012 A particular proprietorship firm has received a letter from a public sector branch for appointment as SBA and requiring the firm to reply as to whether it would be compliant with RBI rules. however the appointment is pending RBI approval. can the firm start the audit right away or can it do so only after approval by RBI.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
10 April 2012 You can start the audit as there is time limit for completion of the audit
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