Association of the concern/any partner/proprietor with Public Sector Banks as Concurrent / internal / income and expenditure or revenue auditor/ stock auditor/ auditor of borrowers accounts etc. (other than as Statutory Bank Branch Auditors and Central Statutory Auditors).

The extra freedom given to the 26 public sector banks from this year to choose their statutory auditors has auditing companies — both those chosen and those left out — restive. They have approached the Union finance ministry and the Prime Minister’s Office to say that the decision will affect the quality of audits.

The Institute has received an Office Memorandum (OM) from the Ministry of Corporate Affairs. As per the OM, the Registrar of Companies will prepare a panel of professionals for Technical Scrutiny of Balance Sheets filled by the Companies for the State concerned.

The Institute of Chartered Accountants of India while appreciating the initiative taken by the Ministry for ensuring good corporate governance and transparency for safeguarding the interest of the shareholders, creditors and the economy as a whole wishes to provide professional expertise of its members to the Registrar of Companies. For the purpose, it has been decided to prepare a panel of the members of the Institute and send the same to the Ministry.

PD/A-32/2009 9th September, 2009 Smt. Usha Thorat Deputy Governor Reserve Bank of India Central Office Building 18th Floor, Shahid Bhagat Singh Road Mumbai-400 001. Madam, Sub: Procedure for allocation of Central Statutory Audits of Public Sector Banks As you are already aware that we have been expressing our serious reservations and concern in respect of [...]

Circular Issued by: – Government of India, Ministry of Corporate Affairs, Office of Registrar of Companies. Issued to: Local Chapter, ICAI/ICSI/ICWAI Sub: - Panel for outsourcing of work of Technical Scrutiny of Balance Sheets. This office  (ROC Office) is in process of preparing  a panel of professionals for outsourcing the work of Technical scrutiny of Balance sheets filed [...]

Empanelment status of C A Firms for conducting PSU Audit for the year 2009-10 can be viewed by visiting http://cagofindia.delhi.nic.in/caempanel/empstat-08.asp To check the empanelment status, please put name of applicant firm (at least three Characters ) or Online Acknowledgement Number or CAG’s Empanelment Number or Firm’s Station then click the submit button.

To ensure higher accountability and transparency in auditing company books, the government now plans to outsource audit work to professionals such as chartered accountants and company secretaries. At present, it is undertaken by the Registrar of Companies’ offices across various cities.

I    New firms to be empanelled from the list of audit firms whose Chartered Accountants should have Diploma in Information and System Accounting (DISA) qualification. II    Selection for new audit firms to be made only from category III and from category IV SP upto 20% of the total requirement in respect of vacancies.

Canara Bank invites applications from the eligible/interested audit firms for empanelment as concurrent auditors for conducting concurrent audit in the identified 500 branches for the period from 01.10.2009 to 30.9.2010. Terms and conditions for appointment, fee structure, methodology for application/ selection, methodology for conducting audit/reporting and the methodology for review of performance of the auditors [...]