After how many years of practice does a CA become eligible to do bank audits?
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This discussion clarifies the eligibility requirements for Chartered Accountants (CAs) to conduct bank audits. While bank audit committee policies vary, a general consensus suggests a minimum of three years of practice is needed, particularly as the MEF form can only be filed after this period. Experience with branch audits of nationalised or large private sector banks is also often a prerequisite.
The firm or at least one of the CAs should have preferably conducted branch audit of a nationalized bank or of a private sector bank with deposits not less than Rs. 500 crore for at least 3 years.