Representation made to RBI for improving quality of Bank Audit : CA Associations have given representations to RBI for improving quality of Bank Audit.

• CA associations of Lucknow, Ahemdabad, Karnataka & Bombay have givenrepresentations to RBI for improvement of quality of Bank Audit.
• This representation was made in wake of developments/irregularities in Punjab National Bank.
• In the representation, suggestions were given for making the audit more independent & informative.
• Through that representation it was also suggested that appointment of statutory branch auditors should be made latest by end of February, so that Auditor has sufficient time for performing quality Audit.
• It was also suggested that the number of branches covered in scope of Bank Audit should be increased.
• It was also suggested that meetings between Bank Management, Central Statutory Auditors & Branch Statutory Auditors should be organised so that their suggestions & observations can be communicated, which may be helpful in performing quality Audit.
• Please find the copy of representation in the below mentioned link.

CA Associations give representations to RBI for improving quality of Bank Audit
You May Also Refer:
Statutory Branch Auditors recommended for appointment in Banks 2017-18
ICAI : PNB did not hire external CAs for Concurrent audit
ICAI issues latest Guidance Note on Audit of Banks (2018 Edition)
ICAI issues advisory on SA 299, work of the Joint Auditors for Bank Audits

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