Bank branch audit 2011-12

Happy News to Share- As per reliable source there shall be 100% Audit for 6 crore + Advance Branches and 10% Branches shall be audited for less than 6 Crore . The same have been confirmed by many council Members . so be ready for the Audits.
CA. Amresh vashisht face book

Great News :

As per reliable source there shall be 100% Audit for 6 crore + Advance Branches and One Third Branches shall be audited for less than 6 Crore . The same have been confirmed by many council Members..

Congrats to all of us and the CC members who made this happen. Hope all of us get Branches for audit and start the new year (April 1 for us) on a positive note.

When will we get allotment now? I don't think it will be finalised before April 1st week

I just came to know  Public sector  banks   have the notification  from RBI for compulsory audit  for 6 crores and above advances .  But they will issue letter by next week.  So we should have  appointment  letter before 31 March 2012.

In my opinin time has came that CA should focus on other area of practice. This time although we are going to have audit but in next year i think limit might increase to Rs. 20 Cr., then 50Cr then 100 Cr. So friends focus other area and forget about bank audit

Newspaper cutting about bank audit above 6 crore

Dear All,

First of all we must insist RBI to audit all private bank branches.

According to the information obtained from the head office of a public sector Bank   allottment letter would be available by 10th  April and not before   . Rbi will approve the list  furnished by all the banks at a time  and not  bank wise individually    .      

10th april will be too late. further we need atleast 7 days for noc from previous auditor. If this is true then audit will not be completed before end of april.

INTZAR HO GAI IMTHAN KI (BANK AUDIT KI),

A I NA KUCH KHABAR MERE YAR KI (ALLOTMENT KI),

YE HAME HAI YAKI BEVAFA VO NAHI (BANK)

FIR KHATA KYA HUI INTZAR KI

GOOD NEWS:

Banks have started contacting CAs both by mail and over phone.

darukaji can you pl tell us the name of banks who started communication

I have just received E mail-from Canara Bank intimating appointment-No further details about Branches-

Mine is Proprietary Concern-IV category-

congrats K.RAMANATHAN  g

plz clarify last time on which bank u empanlled or whether face any cooling period... or not

got continuiously re empaneled..??