Bank branch statutory audit 2011-12

Page no : 3

B.Prabhakaran (Chartered accountant) (163 Points)
Replied 19 March 2012

BAD news

FM has rejected ICAI's claim and 20 cr proposal of RBI is accepted

As per CA Amresh Vashist Face book

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Suman Kumar Agrawal (Chartered Accountants) (226 Points)
Replied 19 March 2012

FM Rejected our plea & accepted 20 Cr. Proposal of RBI

Ritesh (Asst.Mgr.) (164 Points)
Replied 19 March 2012

From: Anand Saxena <sanandfca @ ...>
To: ICAI_CIRC_MEERUT_CA @ yahoogroups.com
Sent: Monday, March 19, 2012 12:08 PM
Subject: Re: {Amresh's CA's} Bank Audits!!!- Congrats Everyone

Very True. Proper representation of SMEs is the necessity of hour. We need a Union Like structure to ensure the interest of majority of the profession which belongs to the proprietors and small practicenors and not to the CATEGORY - I.

We must prepare our candidates for the next elections.

CA Anand K. Saxena

JHANSI

9415031726

On Fri, Mar 16, 2012 at 7:12 PM, Vansh Mehrotra<vanshmehrotra @ ...> wrote:

Dear All,

Congrats Everyone For Loosing Bank Audits!!

Now this time vote wisely or even select represenative wisely.

Plz select represntatives like Mr. Amresh Vashisth or M.S Bhatia who atleast do

some thing for us.

And everyone plz think before writing mails like" Kya CA Bank Audit se Roti Khata Hai"

Plz understand bank audit fees covers 30% -50% for small practicioner thus it means a lot and big moderators dont understand this.

Make sure before voting whom you need to vote as:-

Mr. Uttam Prakash Agarwal :- Category 1 firm and wholly responsible for this mess.

Mr Chopra:- central Auditor of bank thus no worries.

Let me stop here but other council members are not different thus who understans your pain.

Back in the Game (a) (1273 Points)
Replied 19 March 2012

Our firm belongs to Category 3.Wat r our chances of getting bank Audit?

Nilesh (CA) (97 Points)
Replied 19 March 2012

Bank Branch Auditors' Panel for the year 2011-12 (sended by ICAI to RBI)
CATEGORY	TOTAL NO. OF FIRMS	%
I	1440	5.48
II	2402	9.14
III	4095	15.59
IV	18338	69.79
TOTAL	26275	100.00

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

category 111 firm chances of getting audit only 15.59%.

CA ASHIT NATVERLAL DESAI (Chartered Accountants - Proprietor) (129 Points)
Replied 19 March 2012

Very Ture

We have to take care in next election and need to give VOTE to the right candidate

Union is there - but for own interest

what is the difference between samll and big firm. All are qualified from Same prestigious Institute

Do you believe that all the partners from big firm are going for audit every where?

What the hell is going on?

Bank Audit - No Allotment to samll firms

Tax Audit - 40 lac to 60 lac and now 1 cror

Very Poor Unity - Work for own interest rather than best stronger professional Institute

Ritesh (Asst.Mgr.) (164 Points)
Replied 20 March 2012

Yes, rightly someboy says....20% - 40% income of proprietorshiop firm comes from Bank Auit. Can category I / II firms refuse to accept auitd unless small firms r allotted . NO, they don't have the courage to do that. Institute always argues...few CAs ....or noboy ( freshers) is interested for the profession. Vrey funny. Now, SME firms...rely on regular professional work or go for jobs.

MANOJ DEVIDAS SAMPAT (c.a) (147 Points)
Replied 20 March 2012

SOLUTION TO THIS PROBLEM IS ALLOT ONLE ONE BRANCH PER FIRM EVERYONE WILL GET AUDIT

Arindam Saha (PARTNER) (25 Points)
Replied 20 March 2012

There is still no official confirmation from ICAI or RBI

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piyush (practice) (22 Points)
Replied 20 March 2012

Is there any legal remedy available with institute ? Do the RBI has power to regulate the audit or they have the power to restrict the appointment of auditors ? Is the restriction on appointment of audit is in the interest of the public, shareholders or investors. The other countiries are trying to load the additional responsibilities on auditors and widening the scope of audit after lehmen brothers. Does RBI has taken the right stand by restricting the scope of audit ?

Pawan Singhal (chartered accountant) (655 Points)
Replied 20 March 2012

No we have no legal remidies to oppose the decision of Finance ministry.

CA Krishna Kumar C (Practise) (27 Points)
Replied 20 March 2012

Can we the affected CAs boycott the Central council elections ? Any how there is no use voting in it. The affected members can start a forum and think about steps putting pressure on the incapacitated and impotent Institute.

Rajesh Kachrulalji Gatagat (Partner) (21 Points)
Replied 20 March 2012

Unless and until we get official confirmation about the same, there is no point in discussing the issue. Wait for some more time & things will be clear