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ICAI set per Member limit for Concurrent Audit of Banks
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| Posted Date : 16-May-2015 , 10:06:24 pm | Posted By CASANSAAR |
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.
It is our endeavour to strengthen policies and procedures that enable members to render quality services. In a separate manner, 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
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Category : Bank Branch Audit |
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| Comments |
| Posted By : ANAND KUMAR GUPTA |
03-Aug-2015, 02:05:32 |
| This is a mistake on part of council. It should be 4 audits per firm. If a member is allowed to do 4 concurrent audits, then how will he fulfill the requirement of minimum man days required to be spent by him in a branch.
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| Posted By : Abinash Agrawalla |
19-May-2015, 11:51:03 |
| No such any provision yet been issued by ICAI to restrict a firm to take concurrent audit assignment after a certain limit. |
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| Posted By : CA.Subhash Chandra Podder |
19-May-2015, 08:45:17 |
| Allotment of concurrent audit are being made in the Name of the Firm , Ceiling limit should be Per Members firms . 4 Nos of a member * 10 members of a firm means 40nos of Concurrent audit of the firm , Council members need to take articleship once again! |
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| Posted By : CA.Subhash Chandra Podder |
19-May-2015, 08:45:12 |
| Allotment of concurrent audit are being made in the Name of the Firm , Ceiling limit should be Per Members firms . 4 Nos of a member * 10 members of a firm means 40nos of Concurrent audit of the firm , Council members need to take articleship once again! |
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| Posted By : CA.Subhash Chandra Podder |
19-May-2015, 08:44:58 |
| Allotment of concurrent audit are being made in the Name of the Firm , Ceiling limit should be Per Members firms . 4 Nos of a member * 10 members of a firm means 40nos of Concurrent audit of the firm , Council members need to take articleship once again! |
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| Posted By : CA.Subhash Chandra Podder |
19-May-2015, 08:44:26 |
| Allotment of concurrent audit are being made in the Name of the Firm , Ceiling limit should be Per Members firms . 4 Nos of a member * 10 members of a firm means 40nos of Concurrent audit of the firm , Council members need to take articleship once again! |
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| Posted By : CA.Subhash Chandra Podder |
19-May-2015, 08:44:22 |
| Allotment of concurrent audit are being made in the Name of the Firm , Ceiling limit should be Per Members firms . 4 Nos of a member * 10 members of a firm means 40nos of Concurrent audit of the firm , Council members need to take articleship once again! |
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| Posted By : Deepak Gupta |
18-May-2015, 11:15:21 |
| I think ICAI must take this step quite earlier but finally took a good step. Welcome move by the ICAI.
Also set limit of concurrent audit for each CA firm as soon as possible. |
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| Posted By : Tejas Rupani |
18-May-2015, 11:49:38 |
| What about CA Firm...Any specific limit for audits per CA FIRM? |
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