Dear  Saurabh 

Thanks     -  No news  / up dates  yet    .Yesterday's  msg from  Can Bank  I had posted 

It is   learnt from  certain  sources that  the R B I has forwarded the  list of Statutory Central Auditors  to Banks  ( 4 days back )   This infact  happens  by October  every year 

 It is  said  that the  SBA list may take time till February last week    

Still some sort of negotiations are going between the RBI & our institute and since new president and VP taken over their position, the bank audit matters will be considered vigourously.  I was told this year also sending the list from RBI to PSB will be delayed.  We can hope for the good.  To my information, no banks received the list and they are expecting it in the last week of Feb.  The banks union also announced 4 days stirke in the last week of Feb.  Till then don't worry and be happy.  Enjoy the valantine day.

Is still there is a possibility that new firms will be alloted SBA?

Sir

There is no information on  allottment process  for 2014-15 or  whether RBI has forwarded the list to Banks  .  We  are avioding repeated enquiries with Banks  .  

There is also no point in speculating 

As said earlier the Institute has suggested to rationalise the allottment amongst firms to avoid descrimination . Hence new  eligible    firms  may  also stand to get  Branch Audits 

Keep updated -  Now  4 days  strike  from 25th to 28 th , thus 4 working days left in February 

Let us hope for the best 

detail procedure for appointment of central statutory auditor is available on rbi website under head announcment for bankers.there is an change in procedure for appointment of central statutory audtirs from financial year 2014-15 as explained

THE OFFICIAL WEBSITE OF RBI UNDER THE TAB"FOR BANKERS" IS STILL NOT SHOWING THE FINAL LIST OF STATUTORY CENTRAL AUDITORS' FOR THE YEAR 2014-15.

AND OUR VERY OUR meficai.org IS STILL SHOWING THE STATUS OF 2014-15 PANEL AS "Coming Shortly". THE WAIT HOWEVER HAS BEEN "LONG".

You are  absolutely right  &  We all wonder what is happening 

List of Statutory  Central Auditors  in  particular Bank's website would precede  RBI's publication .   Banks are likely to act faster  and  have to give notification to the stock exchanges 

Now  effectively  2 days  left in this month  in the wake of  4 days strike  . There would be last minute rush  and in that process  some of us who fail to respond to phone call enquiries  may miss fresh appointment 

We fail to understand  why the  PDC   has  not  published the  2014-15 list  despite  advising  the members not  to directly correspond with other authorities  regarding empanelment  

Let us hope for the best  

Dear Members, I have query regarding the MEF. Please refer to point no. 19 in MEF regarding - experience of the prop. in the different sectors in last 5 years. Under different sectors, experience in Statutory Audit and Internal Audit is to be marked. Whether Statutory Audit and Internal Audit, here means, audit under Companies Act; or it includes audit under Excise, Service Tax, Income Tax and VAT as well.

Thanks in advance.

In General 

Statutory Audit  has to be construed as any Audit mandated  by a Statute  ( more specifically  Companies Act ) 

Internal Audits are those done  at the behest of the Management of the entity 

( Own view )

Thanks P. Hareesh ji. So this means one should mark under point no. 19 in MEF if he/she has done audit under companies act.

Dear All Members,

Let's wait for the last two days from Tomorrow for some News on Appointments of SBA in PSB's (in the wake of the 4 days strike called by bankers').

All the Best to Everybody, especially New Appointees.

The chances for new appointees looks bleak. But lets hope for the best and wait for some more days.