Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Limit of concurrent bank audit

chaitri kharod (115 Points)

03 October 2021

what is the limit of concurrent bank audit?? how it is calculated

Reply
Follow
Share

2 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (3393 Points)
Replied 03 October 2021

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.

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

chaitri kharod (115 Points)
Replied 03 October 2021

Ohh...okay...is this limit individual branch wise or aggregate of all branches.....suppose, there are 5 branches of SBI then this limit is applicable to all branches or individual branch....