How bank audits(statutory and concurrent audits)are received?Is it necessary to have partnership firm or proprietory concern can also obtain same?
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Concurrent audit
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There is empanellment of CA firms (including individuals) for the bank audit. Generally firms with more number of experienced partners get the more weightage in this.
Partnership firms having at least 4 members wish DISA qualification will soon get the audits; if they apply for bank audit through empanelments procedure.
Concurrent Audit and Income & Expenditure Audits are also allotted on the same basis.
Sometimes Income & Expenditure Audits can be had if you "approach" higher authorities of the Bank.
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