Finance Ministry Increased Bank Branch Audit Limit to Rs.50 Cr. for Current F.Y.- ICAI President
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Union Finance Ministry has raised the audit limit of nationalised bank branch from Rs 20 crore to Rs 50 crore turnover in the current financial year as per Statement of ICAI President Subodh Kumar Agrawal.
He further said, adding ICAI demanded this audit limit be reduced to its original limit of Rs 8 crore so that rural including panchayat level branches are audited every year for transparency of business.
Recently ICAI functionaries met Finance Secretary Rajiv Thakaru in Delhi making an appeal on reducing the audit limit from Rs 50 crore to Rs 8 crore turn over so that proper and timely audit be done in public banks, Agrawal said.(PTI)
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Category : Auditing | Comments : 13 | Hits : 5411
Comments
CA Sandeep
12-Jun-2013 , 07:45:12 amWhat Our Leaders doing in this?
May I Help You.
12-Jun-2013 , 08:09:08 amBusy in there own Interest...........
Amit Chokshi
12-Jun-2013 , 10:19:58 am50 cr. Turnover - It may be total business of the branch i.e. Advances + Deposit
bhupinder dixit
12-Jun-2013 , 10:33:23 amdhikkar hai
S R Patel
12-Jun-2013 , 11:46:31 amGhabrow mat govt ca ke liye berojgari bhatta announce karne wali hai
BRIJESH KUMAR GOEL
12-Jun-2013 , 12:58:06 pmCouncil members communicate only at election time. They do the same as MLA , MP do. They are not looking at the small firms practicing at rural areas. Every concurrent, statutory audit is for BIG firms. The matter is really considerable.
ca gupta devi dayal
12-Jun-2013 , 01:30:05 pmAll council members whether central or regional should resigned forthwith or otherwise all members of the institute be united in pushing the council members towards wall either to work or forcefully resign in the interest of the profession
CA SACHIN KUMAR AGARWAL
12-Jun-2013 , 02:24:22 pmBad decisiom
CA SACHIN KUMAR AGARWAL
12-Jun-2013 , 02:24:29 pmBad decision
CA. AASHISH AGRAWAL
12-Jun-2013 , 02:37:58 pmThe limit should be different for rural and urban branches as type of business of these branches are quite different. It will also adversely affect the small and medium size CA firms.
Pardeep Garg
12-Jun-2013 , 03:09:33 pmEVEN THOUGH RATIO OF NPA INCRAESING YEAR BY YEAR , THEN WHY GOVT.TAKING THESE TYPE OF CRUCIAL DECISIONS
VIRENDER KUMAR
12-Jun-2013 , 06:04:57 pmLungi man chindambram ne thaan liya hai k CA Profession ka bhatthaa gol krna hai. Khudd itne bde ghaple, ghotaale or...........
CA.Subhash Chandra Podder
12-Jun-2013 , 08:54:37 pmWhat for the institute is ? Why we are sending central council members including The president and other council members ? At the time of Election they are taking blessings of All members including junior members on several times, but unable to contact with them . Now I feel they should resign from all and surrender their portfolios , The Institute is a money making organization . All are worthle