Bank branch audit 2011-12

Page no : 5

B.Prabhakaran (Chartered accountant) (163 Points)
Replied 22 March 2012

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

Paresh Bora (Partner) (29 Points)
Replied 22 March 2012

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..

CA Krishna Kumar C (Practise) (27 Points)
Replied 23 March 2012

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.

CA Parag G Bhuptani (Chartered Accountant) (122 Points)
Replied 24 March 2012

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

CA RAJIV (Partner) (28 Points)
Replied 24 March 2012

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.

virender thakur (Chartered Accountancy) (23 Points)
Replied 24 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

Vikrant Bansal (Chartered Accountant) (66 Points)
Replied 24 March 2012

Newspaper cutting about bank audit above 6 crore

Attached File : 157476 953823 news cuttings 24032012.pdf downloaded: 265 times

kanagaraj (CHARTERED ACCOUNTANT) (793 Points)
Replied 24 March 2012

Dear All,

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

C.A. P. HAREESH KUMAR (PRACTICE) (375 Points)
Replied 24 March 2012

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 .

CA Parag G Bhuptani (Chartered Accountant) (122 Points)
Replied 24 March 2012

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.

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