INTERNAL ASSIGNMENTS IN BANKS BY STATUTORY AUDITORS

Audit firms should not undertake statutory audit assignment while they are associated with internal
assignments in the bank during the same year. In case the firms are associated with internal assignment it should be ensured that they relinquish the internal assignment before accepting the statutory audit assignment during the year. RBI/2008-09/ 335 Ref.DBS.ARS.No.BC. 02/ 08.91.001/ 2008- 09, December 31, 2008