02 April 2008

Dissatisfaction over Bank Branch Audit Allotment

Hello, This year I have seen a very large No। of mails from members who are not satisfied with the new norms of Bank Branch Audit Allotment, I have also seen people feeling very sad and criticising ICAI for that. We have read and listened the Central Council Views also on that.

I invite all of you to express your views on this blog। You can write freely, if you wish you can write anonymously also. What you feel, and What IndianCAs feel.

Come and express your views on this Blog. Click the "Comment" Button Below and Write.

35 comments:

  1. Member in propritership with DISA digree not allotted Bank Branch Audit. But members who are not qualified DISA and having proprietory concern have allotted bank branch audit.

    What is meaning and value of our DISA qualification ?
    That means our institute is not considered relavent aducational qualification.

    DISA qualification should be considered useful because now a days most of branch are computerised.

    ReplyDelete
  2. Anonymous11:38 AM

    my dear friend,

    i had also completed DISA, while joining the DISA, we have been told, if u want to get Bank statutory audit and concurrent audit u must have completed DISA, but that was just lie, wrong promises given for success of DISA Course.

    ReplyDelete
  3. Anonymous12:24 PM

    We are 25 years old proprietary concern having proper infrastructure and staff strength.We have not been alloted any bank branch audit. what are the basic criteria/parameters for allotment/non-allotment of such audits. A member should be informed the reasons for non-allotment of bank branch audit to him.

    Anonyous

    ReplyDelete
  4. DEAR SIR,
    I DONOT KNOW THE CRITERIA FOLLOWED BY EITHER ICAI OR RBI.I WAS HAVING BREAK PERIOD SINCE LAST THREE YEARS.I EXPECTED THAT THIS TIME I WILL BE ALLOTTED BANK BRANCH AUDIT.I HAVE EXPERIENCE OF BANK BRANCH AUDIT OF ABOUT 20 YEARS.I HAVE ALSO PASSED DISA IN 2005.AND AS EXPLAINED I EXPECTED PRIORITY OVER OTHERS DUE TO THAT REASON.BUT ALL EXPECTIONS HAVE REMAINED LIKE NIGHT MARES.

    ReplyDelete
  5. Anonymous2:03 PM

    I have completed 8 years of practice and also qualified DISA from ICAI. I am still waiting for my first Bank Audit.
    ASHOK

    ReplyDelete
  6. Anonymous2:34 PM

    We are a proprietory concern with part time CA associated with firm since 2005. We know smaller size firms than us having alloted two branches in Mumbai itself. We are not alloted any branch. Based on allotment it seems that only last year's list is being considered because majority of firms are alloted same bank. New firms are not being considered at all. We are 12 years old firm. Done audit in 2005-06 once. Thereafter no audit has been alloted. Proprietor has also done ISA.

    ReplyDelete
  7. Anonymous3:21 PM

    We have alloted every year 3 branch for bank audit but this year we have alloted only 2 branch for audit. IWe do not know the reason for the same as RBI & Bank guidelines says to have minimum auditor and every auditor must be alloted 3 branch. Also let me know where to complain in writing.

    ReplyDelete
  8. Anonymous5:39 PM

    I am fully agree bcoz which policy RBI follow i still not understand, Previously they allot audit to Partnership firms only then they started allot to proprietorship and then they started the new funda that less then 3 years and exclusive partnership firm.............and goes on what we practitioners to do

    ReplyDelete
  9. The experience in bank branch audit allottment seems to be totally manipulated/biased as I am practicing as full-time partner in my firm consisting of 3 partners and all the parters are full time FCA partners. I am used to get the audit upto 31st March, 2005 and thereafter I feels that there is cooling period of 2 years and for the FY 2007-08 RBI has Category II and I am confident that I will get the bank audit this year definitely as per the latest RBI Norms. But to my surprise I have not got any audit and at the same time persons practicing in individual names got audit and that to in cities having advances more than 1.5 crores which is against the RBI Norms. This has happened in many cases. From this it seems that allottment procedure is not fair & biased.

    ReplyDelete
  10. Anonymous8:01 PM

    though i have been alloted bank audit this year, but i am very much surprised that last year i was alloted branches with very large advances and this year with very meager advances. i want to know what the criteria adopted to finalise audit allotment by bankers. we are category II firm still we got audit which is not to our status.

    ReplyDelete
  11. Anonymous8:08 PM

    they even do not give the reason for non allotment.

    ReplyDelete
  12. Anonymous9:44 PM

    We are are partners of a 26 years old firm with 2 FCA having experience of more than 30 years each.The allotment has stopped since last 2 years and as usual it was stopped after 3 years of allotment instead of 5 years of contineous allotment.

    ReplyDelete
  13. Anonymous4:46 AM

    On reading the previous comments, I feel the Institute needs to chnage the criteria and so a primary scan of application forms before passing it on to RBI. In this way atleast the deserved ones are not left behind. Growing dissatisfaction towards this issue will lead us to igniting more fire in the same pot. We are a partnership firm with FCA and suddenly stopeed getting audit since past 3 years. We can't even figure out the reasins of it.

    ReplyDelete
  14. Anonymous8:30 AM

    Regarding Bank branch audit,as I got information from many friends that the ICAI and RBI have not give proper
    attention in making allotment of bank branch audit.
    No one wants to take any responsibilty for unjustified allotment. There is no transperncy in bank branch allotment
    about criteria of allotment and why somany CA are not alloted the bank branch audit?
    According to me the ICAI and RBI must delet the name of CA who have not performed as per expectation of Banks
    and RBI and all these CA must be intimated with the reason of their performance.All these CA must not taken on Panel.

    The CA who are haveing experence in Bank audit like those who have done Inspection, Concurrent, Internal, System audit etc.
    must be given prefernce for allotment of bank branch audit.Those who are in I.Tax or other practice and they have never
    done any type of Internal audit they may be gievn less priority.Inshort the CA who have really experince of bank audit exeperince
    must be given priority or prefernce for allotment of bank audit.
    The RBI and ICAI must have statstical figures about how many have real experince of bank audit city wise and region wise
    and accordingly panel must be prepared.But who listens voice of ordinery members' suggetion.

    As member of ICAI we always expect that there should be transperncy in allotment of audit and the specific criteria of allotment.
    As per my information that total bank branches of all nationalised banks around 20000 and practincing CA in region wise how
    much and who have really experince in bank audit then no body will be satisfied.
    At the dias the faculties and dignatories speakes beautifully about the transperncy and coproate governance about the work method
    but the action and communication to the members are all together different and members are expected to work transperncy
    and they are not entitled to know any information or matters from the Institute and there different set of standards.

    Any way this is my personal views and nothing prejudice to any body or for any authority.The matter is communicated for
    exchange of views and nothing else.

    ReplyDelete
  15. Anonymous8:32 AM

    I also feel that as a proprietor not been allotted with the Bank audit. I feel, it is a privilege to be associated with
    Bank Audit and we as professional feel that Bank audit fee is a Bonus on an annual basis. SNB's with more than ten years of practice should be allotted at least two branches which we are capable of handling.

    Pl do see to it that we are also taken into confidence for allotment of Bank Audits henceforth.

    ReplyDelete
  16. Anonymous8:50 AM

    I have started my practice in August 2002. since than I am in the list of empanlment but i have not got any single bank audit.
    I have seen many of the other who have unique code number taken after me,and got a bank audit.
    Generally this will be a one opportunity to stand in practice to a fresh CA's...
    This year not me but most of the CA's got an SMS, emial from Merrut branch about the allotment of bank audit and thereafter it was cancelled, even at that time there was no anouncement at institute site also, now how the list was available to them ??? who';s personal interest involve in it ?
    according to the guidlines i dont know when i will get a bank audit, generally the allotment given to experience firm, now if we dont get audit how will we will be qualified in experience firm.

    ReplyDelete
  17. Anonymous10:09 AM

    I am a proprietor, i got bank audits for the year 2006 & 2007. I formed a partnership in August 2006 to cope up with increase in number of tax audits. As per old rules of the Institute if any member is partner in multiple firms only one firm would be eligible for empanelment, but in the year 2007 ICAI suddenly changed the rules saying that any proprietor who is a partner in other firm, or a firm who does not have atleast 1 full time partner is not eligible. This move was very unjust as I who had bank audits for the past 2 years, now was facing with ineligibility and hence did not get bank audits this year. Actually in case ICAI had decided to change eligibility criteria ,it should have given sufficient notice to members regarding the same, so that members could get time to enable themselves to sort out the eligibility issues. Members like me who had got audits in the previous year but were ineligible for the current year are really very unfortunate, due to bad polivy decisions by ICAI. Also in the year 2006, ICAI had clearly stated the the empanelment would be for a period of 2 years, so there was no need to again have fresh empanlement for the year 2007. I hope they restore the old rules in 2008 as i would be again ineligible as ICAI takes date of constitution as on 1/1/2008, as on that date I am a proprietor as well as a pertner.
    WAKE UP ICAI PLEASE

    ReplyDelete
  18. WE have seen these year that we are oldest firm with reach expirance of all three partner for 19 years and 3 FCA Partner having wide experiance of bank branch audit conccurent audit revenue audit stock audit of the banks still which criteria that they felt lead to non allotment of bank branch audit as well as the selection criteria has been not disclosed
    wr

    nitin

    ReplyDelete
  19. Anonymous11:10 AM

    THIS YEAR, I HAVE COMPLETED MY SIXTH YEAR OF PRACTICE, I AM DISA QUALIFIED MEMBER, BUT STILL I AM WAITING FOR MY FIRST BANK BRANCH AUDIT ALLOTMENT. AMONG MY GROUP, EVEN MY JUNIORS ARE BEING ALLOTED WITH BAND BRANCH AUDIT SINCE LAST THREE YEARS. NO COMPLAINS AGAINST ICAI, BUT DEEP REGRETS WITH THE PROCEDURE FOLLOWED BY RBI. I FEEL THAT, SINCE RBI IS NOT INTERESTED, THIS RESPONSIBILITY OF ALLOTING BANK BRANCH AUDIT SHOULD BE TAKENOVER BY OUR INSTITUTE.

    ReplyDelete
  20. Anonymous11:50 AM

    This is fifth year of my practice..Last yr i got the bank audit allotment. Even though this is 2nd yr of bank audit, no bank audit was alloted to me. I am disa passed member of institute. I dont know what criteria RBI follows for allotment, where we see that member with 2 yr experience get 2 big brnach audits but members with many partners and many yrs rich experience get none of them..

    ReplyDelete
  21. Anonymous12:48 PM

    All this regrets regarding BAnk Branch Audit allotment is due to the changes in the empanelment norms undertaken by the Institute. The Institute itself does not seem to be interested in allowing the small proprietory firms and members practicing in individual names, to practice. And this is all due to the members whom we have elected, who are partners of bigger firms and want to siphone the business into their firms, by making the changes in the empanelment norms and getting more and more business for their firms. Elected members are taking undue advantage of their positions by changing the empanelment norms. SHAME ON OUR ELECTED REPRESENTATIVES ! ! ! ! ! !

    ReplyDelete
  22. you deserve highest appreciation for lending your voice to the sufferer of this very faulty,illogical system of audit of bank branch allotment.
    Why ICAI is wasting its energy & time to compile,categorise & supply huge data of auditors whent RBI dosent understands it!
    do they have any other option for Audits?
    Should we surrender our independence,integrity to whims of RBI?

    ReplyDelete
  23. Anonymous9:02 PM

    I am completing 4th year of practise and DISA qualified. I didnt got empaneled on any of the bank.And my juniors with less experience not only got empaneled but were also alloted 2 branches. I am not clear what is the procedure followed for empanelment of new CAs. Is bank allotment has become some kind of lottery system like allotment of shares

    ReplyDelete
  24. Anonymous10:06 AM

    Hi Friends,
    I am a partner in Five Year old firm. Both Partners F.C.A..I have completed DISA.but no bank audit. and just one year old partnership firm, awarded threee branches. i guess, they have made criteria that bank branch audits not to be alloted to those who have completed DISA. As u can make out from the comments of others also that DISA , qualification is not at all considered as any criteria for allotment. i guess, dis is done by seniors sitting in good positions in institute..and not having time to complete DISA. The insitute has made money from DISA course, but done nothing for the fulfillment of the members desire and aspirations they had while doing the course.The seniors sitting there at helms are not favoring any partiuclar community or state is just like saying ...dr manmohan singh is able to take all decisions and sonia gandhi has nothing to do with it. legally it is right...but....who is there...who does not know the truth.

    ReplyDelete
  25. CA.Sunit Sethia8:31 AM

    I personally don't feel anything is wrong in Audit allotment process...

    CA.Sunit Sethia

    ReplyDelete
  26. Anonymous8:59 PM

    WE HAVE BEEN AUDITING BANK BRANCHES SINCE MORE THAN 35 YEARS. HOWEVER, SINCE LAST TWO YEARS, WE ARE NOT ALOOTTED BANK BRANCH AUDIT. LAST YEAR, WE FELT THAT WE HAVE BEEN GIVEN AUDIT HOLIDAY. HOWEVER, WHEN THIS YEAR ALSO WHEN WE DID NOT GET, WE FEEL THAT SOMETHING IS WRONG IS WRONG SOMEWHERE.

    ReplyDelete
  27. Anonymous1:21 PM

    I am into the practice for more than 5 years and still waiting to a bank audit. Many of my friends who passed the CA Exam alongwith me have got the allotment in very 2nd year of their practise. They registered themself to small town and got the allotment, but at the same time they practising in cities like MUMBAI, AHEMADABAD, PUNE etc. It seems that allotment is done areawise and not knowledge or senioritywise. There is no clarity about the allotment procedure. It is really disappointing that honest people suffer because they show their real address of practise. Institute is busy in collecting amounts by way of CPE hours. Really do we proude of such neglegance????????

    ReplyDelete
  28. Anonymous1:17 PM

    I agree specifically with CA. Satish and others,n thanks u to provide ground to voice ourself as a victim of developing low esteem.Bigger fish r ready to eat the smaller ones. Today we cannot see our future as a CA in practice without being in partnership firms.I m in practice for four years only, so none senior will like to join my firm.And if juniors want to be a partner of old firms then the T&C r so stringent ex. Rs.4,00,000/-p.y compensation for bal. period if he/she quits before 5 yrs.Pl. tell us know should we restrict ourself to personal clients and stop enrolling ourself for panels. I m DISA qualified and rest is said by my friends n members, so i do not want to repeat it but definitely agree with them. How can a CA come to know that he have been allotted three branches with so n so bank even b4 results r announced? isn't this surprising!!

    ReplyDelete
  29. I agree specifically with CA. Satish and others,n thanks u to provide ground to voice ourself as a victim of developing low esteem.Bigger fish r ready to eat the smaller ones. Today we cannot see our future as a CA in practice without being in partnership firms.I m in practice for four years only, so none senior will like to join my firm.And if juniors want to be a partner of old firms then the T&C r so stringent ex. Rs.4,00,000/-p.y compensation for bal. period if he/she quits before 5 yrs.Pl. tell us know should we restrict ourself to personal clients and stop enrolling ourself for panels. I m DISA qualified and rest is said by my friends n members, so i do not want to repeat it but definitely agree with them. How can a CA come to know that he have been allotted three branches with so n so bank even b4 results r announced? isn't this surprising!!

    ReplyDelete
  30. Anonymous4:08 PM

    Friends, Reading the comments above, I feel that members expected more with DISA. I am also a DISA and I have done 2 IS audits also. What I feel is just by passing DISA, we cannot do an IS audit. DISA is only an eye wash.

    Regarding bank audits, What I want to comment is the basis of allotment is totally incomprehensible and illogical. Bigger firms getting bigger audits and small and individual partners are totally neglected. In fact they are those who depend more on the Bank audit fee

    ReplyDelete
  31. Anonymous4:08 PM

    Friends, Reading the comments above, I feel that members expected more with DISA. I am also a DISA and I have done 2 IS audits also. What I feel is just by passing DISA, we cannot do an IS audit. DISA is only an eye wash.

    Regarding bank audits, What I want to comment is the basis of allotment is totally incomprehensible and illogical. Bigger firms getting bigger audits and small and individual partners are totally neglected. In fact they are those who depend more on the Bank audit fee

    ReplyDelete
  32. Anonymous9:23 PM

    CA Hemant Gandhi,Andheri
    ICAI Should suggest that instead of allotting 2 to 3 Bank Branch audit to single firm, they should allot one branch audit to one firm and this way more firms will be allotted branch audit and as the time limit for the audit is very less, firms will be able to do audit properly if they have to do only one branch.

    ReplyDelete
  33. Anonymous8:00 AM

    Dear friends,

    Leaving the reasons and rational behind allotment and non-allotment of bank audits, most of the views expressed in this blog would give a feeling that most of the chartered accountants need to take basic course in letter writing and grammar.

    ReplyDelete
  34. I recently came accross your nice & Balanced blog and have been reading along. I thought I should leave my first eveer comment.Comments regarding Bank Audits from various members are interesting... I will keep visiting...

    ReplyDelete
  35. Anonymous6:18 PM

    A DISA Qualification member should get audit of Bank,other wise no need of DISA

    ReplyDelete

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