Question ID :
38033
Empanelment for bank audit
Sir
ICAI has developed a new software for allocation of branches for statutory audit from 2018 and 2019
It is learnt some banks have not adopted this software and in the absence of such consistency in following a uniform system for allotment of branches it is injustice with those who fall in category IV and live in small towns depending on small firms for audit and allied purposes
My question is those falling in above category and after completion of 4th year of audit allotment who have not got audit of public sector banks
Also comments solicited on new system for the year 2019
Regards
Ashok Aggarwal
Moga Punjab
Posted by
ASHOK AGGARWAL
on
Mar 12, 2019
Filed Under
AUDIT
In the Present Scenerio, it is the IV Category Firms who are the most sufferers. CAG is only Empanelling Prop Firms but will never assign any Job. This is because Supreme court had directed, Proprietorship Firms should not be Discreminated against. So they invented this way.Even Concurrent Audits or name any worthwhile Audit, Class IV Firms are not eligible. This is the only profession in India where Small Prop Firms are made ineligible for any worthwhile Audit. Still Many Banks are yet to adopt Institute Suggested Software. Till then wait for Your Luck
Posted by
Mahesh Kumar on
Mar 16, 2019