ICAI has hosted Draft Bank Branch Auditors’ Panel for the year 2013-14 on its portal http://www.meficai.org/ . The panel was not having the name of the Applicants from whom 1. Declaration not received 2. Financial Documents called for but not received 3. Query raised and replies not received/under checking . We are giving below an analysis of the panel hosted on ICAI MEF Portal :-
From the above, members can judge that:-
1) How Regulators are making policies against the interest of Small firms.
2) The panel did not show how many firms are under Rest.
3) Category is being awarded on the basis of number of partners and not on the basis of experience e.g. if a proprietor of firm has 25 years of experience then his firm’s category is 4 while partnership firm is being awarded category 3 if its partners have lesser number of experience.
4) 72563 Branches of 25 nationalized banks were available for Audit during 2012-13 while number of branches got Audited by Banks during that year was 32006 only when Audit limit of Bank Branches was increased from Rs. 5 Crores to Rs. 20 crore.
All Firms can be accommodated if banks make equal distribution of work.
There is also need to reduce the limit to Rs. 5 crore as there may be danger of window dressing through Small Branches which regulators have cleverly left them out of preview from Statutory Audit.
|Data Compiled by||:- CA. Anand Parkash (FCA, B.Com)|
|Presented by||:- CA. Ankit Aggarwal (ACA, CS, CMA, DISA, B.Com)|
|Analyzed by||:- CA. Sahil Aggarwal (ACA)|