The Institute of Chartered Accountants of India (ICAI) has hosted the Multipurpose Empanelment Form (MEF) for the year 2021-22 wherein individuals and proprietors are also eligible to empanel, as in earlier years.
“Certain quarters are creating confusion in the minds of our members, stating that individuals and proprietors are not eligible for Bank branch audits, especially those who are in category IV,” ICAI said.
It seems some of the members got confused with the RBI circular dated 27th April 2021 regarding Guidelines for Appointment of Statutory Central Auditors (SCAs) and not for appointment of Bank Branch Auditors.
The ICAI clarified that the PDC is preparing the panel of eligible bank branch auditors exactly on the same basis as in last year for submission to the Reserve Bank of India.
The Institute informed that the President and Vice-President of the ICAI along with the Chairman, PDC are meeting the honourable Governor of the RBI next week for the pressing need for an increase in Bank Audit Fees.
“We had earlier met the honourable Deputy Governor, RBI & Chairman, Indian Banks’ Association on the same issue. We will update you on the developments in this regard,” the ICAI added.
The iCAI requested its members to fill the MEF latest by 10th November 2021, we would also advise the members to reach PDC at mefpdc@icai.in for any further clarification, without getting carried away with any misinformation.
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