Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors(SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs)

Live National Webinar by PDC on "Internal Financial Control for Bank Branch Audits" on Thursday, 25th March 2021 from 2 p.m to 4 p.m.

For the guidance of the Members on "Internal Financial Control over Financial Reporting" for the Bank Branch Audits commencing shortly, Professional Development Committee jointly with Auditing & Assurance Standards Board of the Institute is pleased to organize a webinar on "Reporting on IFC" on 25th March 2021 from 2.00 pm to 4.00 pm.

Live Webinar on “Bank Branch Audit" on 17th March, 2021 (Wednesday)from 06.00 PM to 08.30 P.M

A letter was sent to Shri Mahesh Kumar Jain, Deputy Governor, Reserve Bank of India requesting for revision of the audit fee for Statutory Central and Branch Auditors.

A letter was sent to Shri Ajay Kumar Choudhary, Chief General Manager, Reserve Bank of India on various important aspects of Banks Audits such as SBAs norms, SCAs norms, Audit Fees, Concurrent Audit.

Considering the difficulties faced by Chartered Accountant firms/LLPs in submitting the online empanelment for audit of PSUs for the year 2021-22, the office of C&AG at the request of ICAI has extended the last date for submission of online application from 15th February, 2021 to 1st March, 2021 as a onetime relief. Further, the last date for submission of hard copy of the documents at O/o C&AG also stand extended from 26th February, 2021 to 8th March, 2021. Interested members may avail the online application at the following

URL: http://care.cag.gov.in/Authorised/Default.aspx
For any query/issue, please contact O/o C&AG at sao2ca5@cag.gov.in, 011-23509223, 011-23509269, 011-23509240 and PDC Secretariat, ICAI at pdc@icai.in or at 011-30110444/30110440.

Professional Development Committee

Members are hereby informed that Final Bank Branch Auditors’ Panel of Chartered Accountants / firms for the year 2020-21 has been hosted at www.meficai.org till 8th February, 2021 thereafter the same will be sent to RBI. The Panel contains the following:

1. MEF No.
2. FRN No./MRN No.
3. Concern Name
4. Unique Code No.
5. District
6. Sate
7. Category

This is for your kind information please.

PDC Secretariat

MEF Applicants can visit at https://meficai.org/ to view the category and other information related to their MEF Application. It may be informed that the category displayed is subject to the verification of Common Partners and checking of Financial Documents by the Auditors. The observations, if any, will be communicated separately.

Any comments/ observations on the details and category can be shared by the MEF Applicants at https://app.meficai.org/complaints latest by 20th Jan., 2021, thereafter no submission for the MEF 2020-21 will be considered.

PDC Secretariat

Like every year, Office of the Comptroller and Auditor General of India invited online applications from Chartered Accountant firms/LLPs who desire to be empanelled with their office for the year 2021-2022 for the purpose of appointment of auditors of Companies as per Sections 139 (5) and 139(7) of the Companies Act 2013 and of Statutory Corporations/Autonomous Bodies as per the provisions of their respective Acts.


The online application along with detailed instructions in this regard will be available on the website www.cag.gov.in from 1 January 2021 to 15 February 2021. The applicant firms/LLPs will have to fill/update the data showing the status of their firm as on 1 January 2021. After filling/updating the data, the firms/LLPs will be required to generate online acknowledgement letter for the year. If the firms/LLPs fail to generate online acknowledgment letter, their application would not be considered for empanelment. Further, the firms/LLPs will also be required to submit a printout of the acknowledgement letter generated online and also hard copies of the documents in support of their online application in the Office of the Comptroller and Auditor General of India at 9, Deen Dayal Upadhyaya Marg, New Delhi – 110 002 latest by 26 February 2021.


Professional Development Committee

The Multipurpose Empanelment Form for the year 2020-21 is live at  https://meficai.org w.e.f. 23rd September 2020.  The original date of submission was 12th October 2020 which was extended till 23rd October 2020.


Various representations have been received by the committee requesting for further extension of date due to several reasons stated in such representations. The committee is aware of difficulties such as territorial heavy rains leading to disrupted internet connections,  intermittent office workings due to Covid-19 being faced by the CA firms and members across the Country and additional information in Part B to be given for empanelment other than Bank Audit. 


In view of above, it is decided to extend the date of submission of MEF and declaration for the year 2020-21 till 6th November, 2020, considering the last date of  filing the Income Tax and GST Return as 31st October 2020.


With this current extension of 2 weeks, the MEF form will be made available for the members for 45 days, so no further extension is feasible to be given.




Chairman and Vice-Chairman,
Professional Development Committee

A representation no. PD/A-339/2020/41 dated 31st July, 2020 submitted to The Financial Controller Maharashtra Rural Roads Development Association (MRRDA) as No Minimum Fee mentioned in their invitation for the applications for appointment of statutory auditor.