The Institute of Chartered Accountants of India (ICAI), through its Professional Development Committee, successfully organized the Statutory Central Auditors’ Meet 2025-26 on 24th March, 2025, in Mumbai. The event brought together key stakeholders from the banking industry which includes RBI and audit fraternity to deliberate on critical developments in the banking sector.

Shri Jayant Kumar Dash, Executive Director, Reserve Bank of India, graced the occasion as the Guest of Honour. In his keynote address, he acknowledged ICAI’s contribution in bringing credibility to financial reporting and help in shaping certain policy frameworks. He underlined emerging trends in banking sector that require special attention from auditors in terms of capacity building and adoption of advanced technology tools. He concluded by urging all stakeholders to remain diligent and vigilant in ensuring the highest quality of financial reporting in the system.

CA. Charanjot Singh Nanda, President, ICAI, emphasized the pivotal role of Statutory Central Auditors (SCAs) in safeguarding the stability and integrity of the banking system. He spoke about the evolving responsibilities of auditors in the financial sector and the growing contribution of Chartered Accountants to India's expanding economy. Furthermore, he highlighted ICAI’s initiatives aimed at enhancing bank audit quality and equipping its members with advanced tools and knowledge resources to uphold professional excellence.

CA. Prasanna Kumar D, Vice-President, ICAI, highlighted the significance of a structured audit quality model to reinforce credibility and regulatory compliance. He also discussed the importance of sampling techniques in improving audit efficiency and provided his guidance on various audit challenges.

CA. Mangesh P. Kinare, Chairman, Professional Development Committee (PDC), expressed gratitude to the esteemed guests and acknowledged the RBI’s collaborative approach in involving ICAI in policy-making processes. CA. Purushottamlal Khandelwal, Vice-Chairman, PDC, delivered the Vote of Thanks

The event featured interactive brainstorming sessions, including a notable session on "RBI’s Perspective and Expectations from Statutory Central Auditors", which was insightfully delivered by Shri Subhendu Bhattacharyya, General Manager, Department of Supervision, RBI. The programme concluded with an Open House Session, fostering meaningful discussions and knowledge-sharing among participants.

About ICAI

The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament under the Chartered Accountants Act, 1949 for the regulation and development of the profession of Chartered Accountancy in India. The Institute functions under the administrative supervision of the Ministry of Corporate Affairs, Government of India. With over 10 lakh students and 4 lakh members, today ICAI is the largest professional accountancy body in the world. ICAI has a wide network of 5 Regional Councils and 177 Branches within India and a global presence with 52 Overseas Chapters and 33 Representative Offices spanning 85 cities across 47 Countries worldwide.