The Institute of Chartered Accountants of India (ICAI)announced the change in the cut-off date for the Bank Branch Auditors Panel to 1st July instead of 1st January of every year.
Every year PDC prepares a Multipurpose Empanelment Panel of Chartered Accountants/firms spread across the country based on multi-layered logic for providing it to RBI and others. The cut-off date for the constitution of the firm and its members is considered as on 1st January of every year considering submission of Form 18 up to one month of submission (till 31st January) without condonation of delay for preparation of Bank Branch Auditors Panel.
The Council of the ICAI, at its 421st meeting, decided to change the cut-off date for collating data for preparation Bank Branch Auditors Panel to 1st July instead of 1st January of every year.
Accordingly, the cut-off date for the constitution of the firm and its members will now be as of 1st July 2023 considering submission of Form 18 up to one month of submission (till 31st July 2023) without condonation of delay for preparation of Bank Branch Auditors Panel from 2023-24 onwards.
Further announced that the said panel will be prepared as per RBI’s revised guidelines for Appointment / Re-appointment of Statutory Branch Auditors of Public Sector Banks dated March 6, 2023.
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