Quick Summary
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINACIAL SERVICES LOK SABHA UNSTARRED QUESTION NO-227 ANSWERED ON MONDAY, DECEMBER 4, 2023/AGRAHAYANA 13, 1945 (SAKA) CA FIRMS 227. SHRI D.M. KATHIR ANAND Will the Minister of FINANCE be pleased to state:- (a) whether the Government has reduced the engaging of CA firms doing Concurrent Audit, Internal Audit and stock Audits in Nationalised Banks across the country and if so, the details thereof, (b) whether the Res
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
No, the government does not engage CA firms for concurrent audit, internal audit, or stock audits in Public Sector Banks. Banks manage these through their own board-approved policies.
No, the RBI has stated that they have not issued any instructions advising Public Sector Banks not to conduct concurrent audits for banks with a turnover of less than Rs. 40 crore per year.
The Reserve Bank of India (RBI) has prescribed that banks should have their own Board-approved policy covering the scope of work for concurrent auditors.
The year-wise and Public Sector Bank-wise details of CA firms engaged as Statutory Central Auditors and Statutory Branch Auditors for the last three years are annexed to the provided information.
CAclubindia
