RBI lays down guidelines for appointment of statutory auditors of banks, NBFCs

RBI lays down guidelines for appointment of statutory auditors of banks, NBFCs
The guidelines provide necessary instructions for the appointment of SCAs/SAs, the number of auditors, their eligibility criteria, tenure and rotation, etc., the RBI said
PTI | April 27, 2021 | Updated 12:25 IST
The Reserve Bank of India on Tuesday issued guidelines for appointment of statutory auditors of banks and non-banking finance companies (NBFCs), including housing finance companies. 'Guidelines for Appointment of Statutory Central Auditors (SCAs)/ Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs)' will be applicable for financial year 2021-22 and onwards.
However, non-deposit taking NBFCs with asset size below Rs 1,000 crore have the option to continue with their extant procedure. The guidelines provide necessary instructions for appointment of SCAs/SAs, the number of auditors, their eligibility criteria, tenure and rotation, etc. while ensuring the independence of auditors, the Reserve Bank said.

Related Keywords

India , , Reserve Bank , Statutory Central Auditors , Statutory Auditors , Commercial Banks , Urban Cooperative Banks , Reserve Bank Of India , Rbi , Appointment Of Statutory Auditors , Appointment Of Statutory Auditors For Banks , Appointment Of Statutory Auditors For Nbfcs , Statutory Auditors Of Banks , Statutory Auditors Of Nbfcs , Guidelines For Appointment Of St , இந்தியா , இருப்பு வங்கி , சட்டரீதியான மைய தணிக்கையாளர்கள் , சட்டரீதியான தணிக்கையாளர்கள் , வணிகரீதியானது வங்கிகள் , நகர்ப்புற கூட்டுறவு வங்கிகள் , இருப்பு வங்கி ஆஃப் இந்தியா , ர்பீ ,