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Statutory bank audits

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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)

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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