Has anyone received the allotment via mail / phone for 2015-16????
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Bank branch audit allotment for 2015-16
Replies (4)
Sir please remember RBI considers 2 factors while allotting Bank Audit :
1. SENIORITY of the firm
2. EXPERIENCE of the firm
So 'seniority' and 'experience' of the partners are considered to the extent they have been associated with the firm.
Thus it is possible that X & CO. a Sole-proprietor with 30 yrs experience & seniority, will continue to get Bank audit without resting.
And ABCDE & CO., a 5 year old firm, having 5 FCAs is yet to get Bank Audit.
I am not a member of any governing body or committee or sub-committee of the Institute but I think its not proper to blame the
President or the Chairman or the Secretary of the ICAI for not getting Bank Audit.
Even my firm haven't got any communication for this years Bank Audit. May be, we are being rested and we have to accept that.
We all have to accept, that situation and scenario has changed in the last 5 years.We should not 'assume' that every year we will
get Bank Audit.
We have to change, we have to evolve with this changing scenario.We have to make our service to our clients a " value-addition"
and not mere an attest function.We have to explain to the society and to our clients and we have to make them belief that as a
Chartered Accountant we have much to contribute.
Every year after Audit completion, the Bank Manager is required to fill up a Performance Report on Branch Audit.
On the basis of that, Banks prepare a list of CA firms which they think have not performed well.
The Report contains Managers comments.
Some examples :
1) Audit team comprising only article clerks.
2) Not visiting the Bank and signing from Hotel room.
3) Spending more time in deciding on menu for lunch and dinner.
4) Improper behavior of Audit team members.
And this reason is most common - Visiting local places of interest at Banks cost.
I think days are not far when RBI will prepare a list called - NPCA ( Non-performing CAs).
My apologies if i said anything wrong or if I have hurt anybody but this is the fact.
Good Comment "Mitra". CA Should not depend on Bank Audits. they have to create its Good Client base other than Banks. Some times it is found that bank audits are accepted / preferred as Audit firm gets Best Fees in less time....
Pls update whether any member received allotment from any bank for statutory audit.
Received from Canada bank allotment of 3 branches
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