ICAI sets per Member / Year limit for Concurrent Audits

Per member / year Concurrent Audits Limit fixed by ICAI

In it’s endeavour to strengthen policies and procedures that enable members to render quality services, the ICAI has decided to fix limit on concurrent audit of banks at 4 audits per member per year, with effect from 1 Jan 2016. As per ICAI, these limits are carefully set to enable members devote more time improving the quality of work.

Cooperative banks and RRBs are kept out of this restriction, i.e. exempted from the limit.

ICAI President’s Communication dt. 19th May 2015