The new norms, effective from this fiscal, bring large non-banks and housing finance companies, and urban cooperative under its purview when it comes to appointing statutory auditors.
In April, the Reserve Bank issued a circular putting in place the new norms for appointment of statutory central auditors and statutory auditors for commercial banks, large urban co-operatives and large non-banks and housing finance companies.
Read more about RBI s new norms to help enhance audit quality, transparency: Experts on Business Standard. The Reserve Bank s new norms for auditors will help enhance the overall audit quality as well as transparency, apart from adding to the value to the businesses rather than wasting resources