AUDIT Reserve Bank of India Revised the Branch Statutory Audit Policy

Reserve Bank of India Revised the Branch Statutory Audit Policy

Reserve Bank of India Revised the Branch Statutory Audit Policy

The Reserve Bank of India Revised the Branch Statutory Audit Policy

·        For the Financial Year 2022-23 - ONLY 70% of Fund & Non Fund Credit Exposure to be covered under statutory audit of Bank/ statutory audit Branch Audit

·        Now statutory audit of Bank/ statutory audit Branch Audit - there is Maximum 2 branches to be allotted to each statutory audit of Bank/ statutory audit Branch auditor

·        From Next Year, 2023-24, Public sector undertaking Banks empowered to Decide Audit Coverage % Age.

·        It is Important to note That - Reserve Bank of India Category Four criteria also changed from Next Year-

Firm having at least two exclusive partners (With or Without Bank Audit Exp.) with 3 Years firm Standing will be reckoned as Category four Firm Or,

Firm with One Exclusive Partner & One CA Employee (With or Without Bank Audit Exp.) but with 6 Years Firm Standing will be considered as Category four Or,

Firm with Proprietor Only will be counted as Category four only if firm is Six Years Old AND Proprietor has Minimum three Years Bank Audit Experience of Public Sector Undertakings or Private Bank

The Reserve Bank of India Revises Bank Audit Fee: Know changed in statutory audit Branch Audit  Fees

The RBI has revised the statutory audit of Bank/ statutory audit Branch Audit Fee Structure. By revising the fee structure, and The Reserve Bank of India has been Revises statutory audit of Bank Audit Fee structure it has increased the fees for statutory audit of Bank Branch Audit by 10%.

Statutory Bank Branch Audit for the Financial Year 2022-2023

Names of Chartered accountants Audit firms approved for appointment as Statutory Bank Branch Auditors (SAs) or Statutory Central Auditors (SCAs) of Foreign Banks, Private Sector Banks, Payments Banks, Small Finance Banks, & Local Area Banks for Financial Year 2022-23 List are here under 

Following Banks Bank sent appointment letter for Continuing Auditors as well as Fresh/ New Appointments:-

  • Canara Bank
  • Bank of Baroda
  • Union Bank of India
  • UCO
  • PNB
  • Bank of Maharashtra 

Disclaimer: The content of this post isn't considered to be professional or legal advice, We aren't responsible for any damages arising from your access to the location content & must not be relied on or used as a substitute for legal advice from a lawyer professional in your jurisdiction. CARajput is among India's big digital compliance services platform which committed to helping people have started & developed their businesses. We had started with the goal of creating it easier for start-ups to start out their business. Our main aim is to assist the businessman with applicable laws & regulations compliance and providing support at each & every level to make sure the business stays compliant and growing continuously. For any query, help or feedback you may in touch on singh@carajput.com or Call or what’s-up on 9-555-555-480

Share This Post

Related Articles

Related Videos

Need help?

Request a call
from a RJA
Business Advisor.

LET'S TALK

Private Limited Company

Popular Categories

Browse Blogs

Recent Posts

All about the Equity Linked Savings Scheme & its Returns

All about the Equity Linked Savings Scheme & its Returns

New Functionality of the interest calculator in GSTR-3B

New Functionality of the interest calculator in GSTR-3B

How to respond notices for AIS (Annual Information Statement) mismatch?

How to respond notices for AIS (Annual Information Statement) mismatch?

Payment of TDS via using Form 26QB on sale of property

Payment of TDS via using Form 26QB on sale of property

RBI intends to tokenisation assets, bonds as part of the wholesale CBDC pilot.

RBI intends to tokenisation assets, bonds as part of the wholesale CBDC pilot.

Connect with a RJA Advisor

Fields marked with an * are required

Enquire Us

Please send us your query and we feel very happy helping you

Testimonials

  • Thank you very much for all your help in setting up my new company and clearing up all outstanding business in my sole trader accounts. For the first time in years I have peace of mind regards my business accounts. Your workforce are a credit to you, the girls at reception are so helpful and Chris has been brilliant. It is very much appreciated.

    A US consultancy group

  • Rajput Jain & Associates. are a tremendous value added to me as an executive and a busy parent. It just makes sense to delegate my tax file to them -- they are proactive, extremely service oriented, and most importantly, I am completely confident they are finding every dollar of tax savings available to me.

    A Leading Service Provider

  • We use Rajput Jain & Associates for all our accounting, Corporation tax, VAT and other compliance needs. The service is professional, courteous and prompt. I would recommend Rajput Jain & Associates to any company requiring a comprehensive accounting and tax service.

    A Leading Consultancy Firm in Dubai

Money Back Guarantee

Not happy with the service? You can request a refund at anytime within 30 days!

24/7 Support

Get support through phone, email, mobile app or live chat - 24/7, 365 days.

EMI Payment

Easily pay online with EMI payments, credit or debit card, net banking, PayPal and more.

Get In Touch--

Rajput Jain & Associates

Add: P-60, Connaught Circus, Connaught Place, New Delhi-110001

Email: singh@carajput.com

Phone: 9555555480

Legal Disclaimer--

The information contained on this website merely provides details of our firm to persons who have shown interest in knowing more about us and is not intended to solicit work or advertise our capabilities in any manner. The information provided on this website is general in nature and should not be used as a basis of decision-making without further professional advice. The third party site links are only provided for ready reference of the users and CA Rajput Jain & Associates neither controls their content nor undertakes any responsibility regarding them.

© 2016 Rajput Jain & Associates. All Rights Reserved | Sitemap

Call Email