| BANK BRANCH AUDITORS PANEL 2006-07 :
Information to be sent to the Institute |
| The Institute had received several complaints from
Members to the effect that in the interval between sending the application for
Bank empanelment and allotment of Bank audits, they have accepted concurrent
audit and similar assignments in various Banks, and thereafter, they find that
they have been allotted audits in those Banks where they are already engaged in
such assignments. This has caused hardship to them. Similar problems are faced
by those who have accepted the Directorship or have availed loan from Public
Sector Banks (including outstandings in respect of credit cards)/given any
guarantee in respect of any loan etc. |
| In view of the situation, this matter was taken up with
the RBI, and the RBI have agreed that assignments on concurrent audit etc./
association as Director or indebtedness/Guarantee given by Members in the period
from the date of application to the 1st of October of that year, will be
considered by them before allotting audits. |
| Firms/ Members who apply for Bank Empanelment and
subsequently accept other assignments from Banks or get associated as Directors
or are indebted or give guarantee should therefore inform the Institute in the
following Form, the details of such engagements. It should be noted that
assignments accepted which are not informed to the Institute by the 1st of
October every year, will not be forwarded by the Institute to the RBI, and in
such cases the RBI may allot audits in the same banks where they are otherwise
engaged. |
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| FORM FOR INTIMATING THE ICAI ABOUT ENGAGEMENTS
ACCEPTED |
