Bank Branch Auditors Panel Submitted by PSU banks for 2010-11

• Allahabad Bank  
• Andhra Bank  
• Bank of Baroda 
• Bank of India  
• Bank of Maharashtra 
• Canara Bank  
• Central bank of India 
• Corporation Bank 
• Dena Bank  
• Indian Bank 
• Indian Overseas Bank 
• Oriental bank of Commerce  
• Punjab & Sind Bank  
• Punjab National Bank 
• State Bank of Bikaner & Jaipur  
• State Bank of Hyderabad  
• State Bank of India  
• State Bank of Indore  
• State Bank of Mysore 
• State Bank of Patiala  
• State Bank of Travancore 
• Syndicate Bank  
• UCO Bank  
• Union Bank of India 
• United Bank of India 
• Vijaya Bank 

Internal assignments in banks by statutory auditors

RBI/2008-09/ 335


Ref.DBS.ARS.No.BC. 02/ 08.91.001/ 2008-09

Internal assignments in banks by statutory auditors - All Scheduled Commercial Banks

1. We invite a reference to RBI circular DBOD.No.App.BC.118/C.452(K)-89 dated April 22, 1989, wherein it was clarified to banks that any audit firm which has been assigned internal audit assignments during a financial year should not be considered for statutory audit assignments during that year and the following year.

2. The issue relating to the internal assignments allotted to the audit firms at the time of their appointment as statutory auditors has been examined afresh and it has been decided as under:

“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.”

3. The above instructions may be implemented with immediate effect.