Limit of concurrent bank audit

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115 Points Posted on 03 October 2021
what is the limit of concurrent bank audit?? how it is calculated
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On 03 October 2021 at 19:33 Report
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The Council has set a limit of 4 concurrent bank audits per member annually, effective from January 1, 2016. This measure aims to enhance audit quality by allowing members more time. Cooperative banks and Regional Rural Banks (RRBs) are exempt from this restriction. The limit applies to the aggregate of audits undertaken by a member, not on a per-branch basis.

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Master in Accounts & high court Advocate
9620 Points Posted on 03 October 2021

the Council decided to fix limit on concurrent audit of banks at 4 audits per member per year.  Cooperative banks and RRBs were exempted from the limit.  The above limit will come into effect from 1.1.2016. These limits are carefully kept to enable members to devote more time thereby improving the quality of work.

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On 03 October 2021 at 21:09
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115 Points Posted on 03 October 2021
Ohh...okay...is this limit individual branch wise or aggregate of all branches.....suppose, there are 5 branches of SBI then this limit is applicable to all branches or individual branch....
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On 03 October 2021 at 22:45

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