Audit News


Peer review for audit firms of Listed Company

   08 April 2009 at 14:35

Members may be aware that the Council had accepted the recommendation of Securities & Exchange Board of India (SEBI) that audit of listed companies shall be carried out by the auditors who have undergone Peer Review Process and have been issued P

Posted in Audit |   30588 Views


A critical factor for auditors to perform quality audit

   02 April 2009 at 11:11

Time frame for conducting bank branch statutory audit assignment - A critical factor for auditors to perform quality auditAfter Satyam episode, we have a mammoth responsibility in the area of trust building that urges the members of the profession to

Posted in Audit  1 comments |   13809 Views


List of SBAs forwarded by RBI to PSU Banks for 08-09

   01 April 2009 at 13:58

List of Statutory Branch Auditors (SBAs) forwarded by RBI to Public Sector Banks for - 2008-09  The list of 18672 audit firms, which have been recommended by the RBI for statutory branch audit assignments in public sector banks during the year 2

Posted in Audit |   11814 Views


Suggestion to members who have been alloted Stat Bank Audit

   30 March 2009 at 13:07

Timely and Quality completion of bank audit assignments has always been a challenging task for all the auditors. Standards have to be followed and deadlines are to be set. I am sure, by this time of the year you have already planned to undertake bank

Posted in Audit  4 comments |   10515 Views


Auditors Responsibilities Relating to Restructuring of Adv

   27 March 2009 at 15:12

1.         Attention of the members carrying out audit of financial statements of banks for the year ended March 31, 2009, is drawn to Reserve Bank of India’s circular no. DBOD.BP.BC.No.105/21.04.132/2008

Posted in Audit |   5100 Views


ICAI pitches for independent appointment of bank auditors

   26 March 2009 at 17:15

RBI recommendations should be followed in appointments Author : DNA Money CorrespondentThe Institute of Chartered Accountants of India has demanded that the appointment of auditors in the public sector and private sector banks should be made on the b

Posted in Audit |   8088 Views


ICAI Response to RBIs moves on Bank Audit 2008-09

   17 March 2009 at 22:13

I.  ICAI’s quest for financial transparency in the financial reporting of the Indian banking sectorThe ICAI wishes to draw the attention of the RBI in respect of certain circulars issued by it relating to the restructuring proposals. In th

Posted in Audit  5 comments |   12519 Views


Announcement regarding Bank Branch Auditors

   17 March 2009 at 10:41

Your attention is drawn to the new Procedure for appointment of Branch Statutory Auditors in Public Sector Banks for the year 2008-09 already hosted on the website

Posted in Audit  3 comments |   23919 Views


Two More Auditing Standards cleared

   10 March 2009 at 14:56

The Council of the Institute of Chartered Accountants of India at its 286th meeting held on March 8, 2009 cleared two more Standards on Auditing (SAs), i.e., Revised SA 500, Audit Evidence and SA 720, The Auditor’s Responsibility in Relation to

Posted in Audit  10 comments |   27246 Views


Internal auditor can carry tax audit for FY 2008-09

   10 March 2009 at 14:51

The Council in its 281st meeting held from 3rd to 5th October, 2008 decided that an internal auditor of an assessee, whether working with the organization or an independently practicing Chartered Accountant being an individual chartered accountants o

Posted in Audit  1 comments |   23799 Views



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