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Limit of concurrent bank audit

chaitri kharod (115 Points)

03 October 2021

what is the limit of concurrent bank audit?? how it is calculated

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Rama chary Rachakonda (Master in Accounts & high court Advocate) (8392 Points)
Replied 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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chaitri kharod (115 Points)
Replied 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....