Statutory bank audits

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 February 2014 This is with respect to allotment of Statutory Audit by PSBs. In case a PSB allots Branch Audits in a number of cases in such a way that Fee of Lower Category CA Firm e.g. Category II/II/IV Firm is more than higher category CA Firm e.g. Category I/II/III Firm or there is wide variation in fee of same Category. Can i file any complaint with RBI or other legal forum? Can an aggrieved/other party obtain this information from Banks Board under RTI?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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27 February 2014 the difference is on account of the fact that the size of audits allotted is commensurate to the fees. The audits handled by Category I is much bigger wider in scope and size in comparison the category II/III/IV firms.

regardless, you can raise the with ICAI as well as RBI.

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