Tag: statutory bank auditor
RBI issues FAQs on appointment Auditors of Banks, UCBs & NBFCs. Time gaps required, prohibition on Concurrent auditors for appointment as SCAs/SAs In April 2021 RBI had issued Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs). …
Revised Eligibility Criteria for Appointment of Statutory Central Auditors (SCAs)/ Statutory Auditors (SAs) from FY 2021-22 and onwards RBI has revised the Guidelines for Appointment of Statutory Central Auditors (SCAs)/ Statutory Auditors (SAs) of banks etc. The circular inter alia provides for the eligibility criteria for appointment. Eligibility …
RBI issues revised Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including Housing Finance Companies) for Financial Year 2021-22 and onwards. RBI has issued a Circular on ‘Guidelines for Appointment of Statutory Central Auditors (SCAs)/ Statutory Auditors (SAs) …
RBI revises Long Form Audit Report (LFAR) – New formats applicable for audit period covering FY 2020-21 & onwards Keeping in view the large scale changes in the size, complexities, business model and risks in the banking operations, RBI had made a review of the LFAR formats, in …
ICAI advisory for Statutory Bank Branch Auditors Specific Considerations while conducting Distance Audit / Remote Audit / Online Audit of Bank Branch under current Covid-19 situation ICAI has issued an advisory to its Chartered Accountants with illustrative list of considerations to be followed kept in mind for undertaking …
RBI enforcement action framework for debarring statutory bank auditors for lapses in audit of commercial banks-Salient Features and Procedures As per Press Release issued in this regard, RBI has stated that Statutory Auditors (SAs) of banks play an important role in contributing to financial stability when they deliver quality …
