Dear Members

If you have accepted any concurrent audit, directorship in banks, taking loans from banks, after fiiling of MEF for 2008-09, you have to file form given in the below link so that statutory audit of that bank will not be alloted to you but other bank can be allotted.

Please read following announcement and follow it.

Information regarding association with Public Sector Banks – (22-12-2008)

The Institute has been receiving a number of complaints from Members to the effect that in the interval between sending the application for Bank empanelment and allotment of Bank audits, they have accepted concurrent audit and similar assignments in various Banks, and thereafter, they find that they have been allotted audits in those Banks where they are already engaged in such assignments. This has caused hardship to them. Similar problems are faced by those who have accepted the Directorship or have availed loan from Public Sector Banks (including outstandings in respect of credit cards)/given any guarantee in respect of any loan etc.

In view of the situation, this matter was taken up with the RBI. Accordingly firms/ Members who apply for Bank Empanelment and subsequently accept other assignments from Banks or get associated as Directors or are indebted or give guarantee should therefore inform the Institute in the following Form, the details of such engagements accepted after submission of Multipurpose Empanelment Form to the Institute. It should be noted that assignments accepted which are not informed to the Institute by the 15th January, 2009, will not be forwarded by the Institute to the RBI, and in such cases the RBI may allot audits in the same banks where they are otherwise engaged.

FORM FOR INTIMATING THE ICAI ABOUT ENGAGEMENTS ACCEPTED

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Category : CA, CS, CMA (3487)
Type : News (12554)
Tags : accounting standard (288) Empanelment (479) ICAI (2164) MEF (33) MEF Empanelment (38) Statutory Audit (107)

0 responses to “Multipurpose Empanelment Form (MEF) – Information regarding association with Public Sector Banks”

  1. B.Ramesan & Associates says:

    Dear Sir,
    Our firm B.Ramesan & Associates is registered with ICAI by MEF 20418 and our Unique Code No is : 171543 . I have not yet been informed about which banks I am alloted for the Branch Audit for the year 2009-2010. Please provide me with the details at your earliest.

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