Atul Kumar Khemka (Practice) (15 Points)
10 April 2008
I have been appointed as Branch Auditor of Syndicate bank
In the LFAR Form the bank has mentioned that give details of non-coproate borrwoers wehre the loan amount exceeds 25 Lakhs. Whereas it was 10 lakhs previously
Has the limit been revised - what is the limit for audit of non coproate borrowers to get their accounts adutied - 10 or 25 lakhs
CA Harbinder
(CA )
(1245 Points)
Replied 10 April 2008
i have recently done the audit of bank of baroda, there the limit is Rs.10 lakhs for non corporate entities.
CA. Atindra A. Prabhu Bhatikar
(practising CA)
(68 Points)
Replied 10 April 2008
Hi! In the LFAR format submitted to me by the Vijaya Bank, the limit for audit of non-corporate borrowers is Rs.10 Lakhs.
Pbmangarolia
(ACA, DISA(ICAI))
(29 Points)
Replied 10 April 2008
Hi,
I have completed Audit of Bank of India and the LFAR contains following question.
"Indicate cases of advances to Non-Corporate entities with limits beyond Rs. 10.00 lacs where the branch has not obtained the accounts of borrowers, duly audited under the RBI guidelines with regard to compulsory audit or under any other statute."
So the limit is Rs. 10 lacs
SANJAY YASHWANT KHOSE
(Partner)
(21 Points)
Replied 08 April 2012
Till today limit is Rs. 10 lakhs only. U can refer "Guidence note of Audit of Accounts of Non Corporate Entities (Bank Borrowers)".
CAclubindia
