Bank statutory audit 2011-12

CA.Manoj (chartered accountant) (56 Points)
Replied 13 March 2012

any update on allotment status.

Sethuramalingam S (Chartered Accountant) (23 Points)
Replied 13 March 2012

any update on allotment status

rahul (Chartered Accountant) (5572 Points)
Replied 14 March 2012

Originally posted by : Vikrant Bansal
	any new update???

Nirmal Jhanwar (Chartered Accountant) (35 Points)
Replied 14 March 2012

by a reliable source from Zonal Office of a Bank that their HO has called them to prepare list of branches above Rs 20 Crores in advances for the purpose of audit.

VINAY SINGHANIA (PROPRIETOR) (32 Points)
Replied 16 March 2012

Anyone update the status

Pawan Singhal (chartered accountant) (655 Points)
Replied 19 March 2012

bank audit limit raised up to 20cr. advances.

VINAY SINGHANIA (PROPRIETOR) (32 Points)
Replied 19 March 2012

what about allotment status

Ritesh (Asst.Mgr.) (164 Points)
Replied 21 March 2012

Respected Member
NAMASKAR

Through this mail, I request you to come forward and meet to your Area Member of Parliamernt and conyey the issue of bank audit with them and request to raise this matter before the HOUSE.

Now we are in the position of do and die because

1. Limit of Tax Audit Increase from 60 lacs to 1 crore, pl. analysis himself due to this effect what we loss?

2. At present a suspence is maintained in Bank Statutory Audit. no Council member give proper information if they can send mail HOLI, DIWALI & NEW YEAR, THEN Why they can not sharing information about latest position of Bank Audit.

3. Increase rate of service Tax from 10% to 12%, as per my knowledge no action has been taken on this matter, MATTER TO COLD BED.

4. Member of ICWA(ICMA) demand permission to do Tax Audit equivalent to CA Fraternity. AAJ NAHI TO KAL WE ALSO LOOSE THIS ISSUE, if our leaders is not handled this matter proper and strongly.

5. We already shared name of ICAI with the members of ICWA(ICMA), what action taken by our leader in this matter?

6 We are not dependonly on bank audit but why we lose Bank audit?. Why all events happened on CA Fraternity?

So join the hand and show our unity.

With warm regard

CA. VINAY MITTAL, FCA
34 NAVYUG MARKET, 2ND. FLOOR
GHAZIABAD-201001
MBL 0991691575

Pawan Singhal (chartered accountant) (655 Points)
Replied 21 March 2012

Dear friends,

just now i got a message which reads as " Dear member,matter of bank branch audit is moving in right direction. outcome expected by tomorrow and shall keep updated.......CA.JAYDEEP SHAH,PRESIDENT ICAI.

Ritesh (Asst.Mgr.) (164 Points)
Replied 22 March 2012

Any update ? Either 'Yes' or ' No ' .

atit (Proprietor) (49 Points)
Replied 22 March 2012

hi all

any update on bank audit for the year 2011-12.

I heared from PNB officials that limit has been extended to 20 cr. advance.

Means small category firm will not get any bank branch audit.

But not getting any news from (our) Institute? what happen to ICAI?

Ritesh (Asst.Mgr.) (164 Points)
Replied 22 March 2012

Bank Br. with Advances above 6 Cr will be subject to Statutory Audit. Bank Br. having advances less than Rs 6 Cr will be audited once every 3Yrs.

CA Prasun Kr Bhattacharyya Chairman,EIRC
Sent on my BlackBerry® from Vodafone

--
CA Ranjeet Kumar Agarwal
Vice-Chairman,EIRC (2012-13)
4th Floor,4,Ballav Das Street,R.N-418,
Kolkata- 700 007 ;Ph: 033 2270 8925/ 2273 0164,+91 98301 40211

CA KRISHNA KUMAR DARUKA (CHARTERED ACCOUNTANT) (4458 Points)
Replied 22 March 2012

Just announed ina EIRC program that bank audit of brances above 6 crores approved by FM

Paresh Bora (Partner) (29 Points)
Replied 22 March 2012

Great News :

As per reliable source there shall be 100% Audit for 6 crore + Advance Branches and One Third Branches shall be audited for less than 6 Crore . The same have been confirmed by many council Members..

CA RAJIV (Partner) (28 Points)
Replied 22 March 2012

i think still the bank audit mess is not clear . Our Institute President Mr jaydeep Bhai shah has just flaashed the email like this

Dear Member,

It has been learnt that RBI has received communication regarding Bank Branch Audit allotment. All Bank Branches having advances of Rupees six crores and above and one third of the branches below six crores of advances will be audited.

CA. Jaydeep N. Shah
President, ICAI

It clear shows that matter regarding branch audit allotment is not clear.