sathianarayanan.t (chartered accountant) (267 Points)
04 February 2013As in last year, this year also the confusion in allotment of bank branch audit started. There is no official confirmation from our institute, that the thrash hold limit of advances has been increased to 20crs. There are so many rumours going around in this regard. If it is the fact, sorry for the new entrants. Anybody knows the latest developments?
sathianarayanan.t
(chartered accountant)
(267 Points)
Replied 12 March 2013
Dear Mr. Kanagaraj,
Now it is very much confirmed that the thrash hold limit is 20 cr. All the continuing auditors are being allotted. For those completing 4 years, I do not have any information. SBI is finalising the list in next week. There is no move from our institute to reduce the 20Cr limit.
sushil kumar
( CA Final-Audit Assistant)
(528 Points)
Replied 12 March 2013
Dear Sir,
Even though the thrashhold limit of advance has been increased to 20 crs. But it is at the discreation on the bank for allotment of audit for those branch which have less advance than the thrashhold limit.
In my knowledge PNB and Bank of Baroda are alloting Bank audit all branches which have less advances than thrash hold limits.
sathianarayanan.t
(chartered accountant)
(267 Points)
Replied 12 March 2013
Dear Mr. Sushil,
If the advance is less than 20Cr, then 1/5th of those branches have to be audited on rotaional basis. Even though it is the discreation of the banks concerned, all the banks are following RBI guidelines because it is advantageous to the banks. No bank wants to spend more money on audit as well as to show the higher NPAs if they allot more branches to out side auditors.
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