Timely and Quality completion of bank audit assignments has always been a challenging task for all the auditors. Standards have to be followed and deadlines are to be set. I am sure, by this time of the year you have already planned to undertake bank
1. Attention of the members carrying out audit of financial statements of banks for the year ended March 31, 2009, is drawn to Reserve Bank of India’s circular no. DBOD.BP.BC.No.105/21.04.132/2008
RBI recommendations should be followed in appointments Author : DNA Money CorrespondentThe Institute of Chartered Accountants of India has demanded that the appointment of auditors in the public sector and private sector banks should be made on the b
I. ICAI’s quest for financial transparency in the financial reporting of the Indian banking sectorThe ICAI wishes to draw the attention of the RBI in respect of certain circulars issued by it relating to the restructuring proposals. In th
Your attention is drawn to the new Procedure for appointment of Branch Statutory Auditors in Public Sector Banks for the year 2008-09 already hosted on the website
The Council of the Institute of Chartered Accountants of India at its 286th meeting held on March 8, 2009 cleared two more Standards on Auditing (SAs), i.e., Revised SA 500, Audit Evidence and SA 720, The Auditor’s Responsibility in Relation to
The Council in its 281st meeting held from 3rd to 5th October, 2008 decided that an internal auditor of an assessee, whether working with the organization or an independently practicing Chartered Accountant being an individual chartered accountants o
Last date of Online Submission of Application of CA Firms for PSU Audits to C&AG has been extended to 20th February 2009. Last date of Online Submission of Application of CA Firms&nb
Procedure for Appointment of Branch Statutory Auditors in Public Sector Banks (Psbs) for the Year 2008-09 - (11-02-2009) - 1. The large PSBs having balance sheet size (assets + liabilities) of above Rs. 1 lac crore each to exercise managerial au
Peer Review Process is required to be completed within a stipulated time schedule, those firms which did not adhered to this time schedule were sent a communiqu to complete their Peer Review Process by November, 2008. Our communiqu also stated that t
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