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Bank audit allotment

MANOJ DEVIDAS SAMPAT (c.a) (147 Points)

25 February 2019

ANY ALLOTMENT NEW FROM BANK

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BAJAJ RADHESHYAM NANDKISHORE (PROPRIETOR) (100 Points)
Replied 27 February 2019

Any updates on bank branch statutory audit of PSB's for 2018-19?

MANOJ DEVIDAS SAMPAT (c.a) (147 Points)
Replied 06 March 2019

Bank Audit – 2019 Allotment Status

March is the time of allotment of the bank audit and the banks have started procedure.

As per the information available as of now, following 8 banks are opting Institutes software to appoint Branch Statuary Auditors .

1. PNB,

2. BOB,

3. Central Bank,

4. P&SB,

5. United Bank,

6. OBC,

7. Vijaya Bank &

8. Dena Bank

Further UCO bank has already initiated sending e mails.

The firms which were eligible as per PDC empanelment list and their four year term already expired are requested to keep an eye on their registered e mails.

This year, above bank is following the system of allowing bank audit as per ICAI for audit allotment which means they the allotment would an done on MERITS only and no choice of manipulation as to branch allotment would be there.

Further, allotment would be done on the basis of city as per enpamlement as well as city as per the data base. This would save the cost of the bank towards reimbursement of expenses and also the time needed for completing the audit.

Prior to the use if software, a manila system of audit allotment were in operation whereby the allotment was possible as per the whims and mercies of the officer in the bank. It has even so happened they the CA firm is Delhi is allotted the audit of Kerala and the CA firm in Kerala is allotted the audit of branches I. Delhi which was adding to the cost of statutory audit. Intentionally or unintentionally, all this practices would be put to an end if allotment is done by the software.

Keep an eye on your email id for the updates.

For bank audit updates @ Join any one of the following whatsapp group-

PANKAJ AGGARWAL (PARTNER) (101 Points)
Replied 20 March 2019

ANY NEWS ON BANK BRANCH AUDIT ALLOTMENT

CA Veerendra Murashillin,HUBLI (CA PRACTICE) (72 Points)
Replied 23 March 2019

NO NEWS SO FAR FROM ANY BANK AUDIT ALLOTMENT IN HUBLI

PANKAJ AGGARWAL (PARTNER) (101 Points)
Replied 25 March 2019

Till today no news on audit allotment,Any update from yours regions,what will be the proceedure of audit for IDBI Bank,which is now under category of private bank