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Bank Branch Advance limit for statutory Audit fixed at 6 Cr. and above & Once in 3 year for below Rs. 6 Cr

“Dear Member,


It has been learnt that RBI has received communication regarding Bank Branch Audit allotment. All Bank Branches having advances of Rupees six crores and above and one third of the branches below six crores of advances will be audited.


CA. Jaydeep N. Shah
President, ICAI”


Bank Branch Audit Policy by RBI 2011-12


Bank Branch Statutory Audit 2011-12/ Bank Branch Audit Allotment 2012

Only nationalized banks having advances above Rs.20 crores and above and for below 20 crores ones in every five year will be subject to statutory bank branch audit.


And 1/5th of remaining could be new allocation for bank branch audit.


The final communication in this regard is awaited from RBI. Initial limit proposed was 100 crores and above. The decreased in limit is as a result of effort made by ICAI. 

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