ICAI set per Member limit for Concurrent Audit of Banks
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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.
It is our endeavour to strengthen policies and procedures that enable members to render quality services. In a separate manner, 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
It is our endeavour to strengthen policies and procedures that enable members to render quality services. In a separate manner, 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
Category : Bank Branch Audit | Comments : 10 | Hits : 3508
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Comments
Tejas Rupani
18-May-2015 , 11:49:38 amWhat about CA Firm...Any specific limit for audits per CA FIRM?
Deepak Gupta
18-May-2015 , 11:15:21 pmI think ICAI must take this step quite earlier but finally took a good step. Welcome move by the ICAI. Also set limit of concurrent audit for each CA firm as soon as possible.
CA.Subhash Chandra Podder
19-May-2015 , 08:44:22 amAllotment of concurrent audit are being made in the Name of the Firm , Ceiling limit should be Per Members firms . 4 Nos of a member * 10 members of a firm means 40nos of Concurrent audit of the firm , Council members need to take articleship once again!
CA.Subhash Chandra Podder
19-May-2015 , 08:44:26 amAllotment of concurrent audit are being made in the Name of the Firm , Ceiling limit should be Per Members firms . 4 Nos of a member * 10 members of a firm means 40nos of Concurrent audit of the firm , Council members need to take articleship once again!
CA.Subhash Chandra Podder
19-May-2015 , 08:44:58 amAllotment of concurrent audit are being made in the Name of the Firm , Ceiling limit should be Per Members firms . 4 Nos of a member * 10 members of a firm means 40nos of Concurrent audit of the firm , Council members need to take articleship once again!
CA.Subhash Chandra Podder
19-May-2015 , 08:45:12 amAllotment of concurrent audit are being made in the Name of the Firm , Ceiling limit should be Per Members firms . 4 Nos of a member * 10 members of a firm means 40nos of Concurrent audit of the firm , Council members need to take articleship once again!
CA.Subhash Chandra Podder
19-May-2015 , 08:45:17 amAllotment of concurrent audit are being made in the Name of the Firm , Ceiling limit should be Per Members firms . 4 Nos of a member * 10 members of a firm means 40nos of Concurrent audit of the firm , Council members need to take articleship once again!
Abinash Agrawalla
19-May-2015 , 11:51:03 pmNo such any provision yet been issued by ICAI to restrict a firm to take concurrent audit assignment after a certain limit.
CA Jai Kishan
19-Jun-2015 , 10:40:12 amANAND KUMAR GUPTA
03-Aug-2015 , 02:05:32 pmThis is a mistake on part of council. It should be 4 audits per firm. If a member is allowed to do 4 concurrent audits, then how will he fulfill the requirement of minimum man days required to be spent by him in a branch.