Govt Approves Hike in Audit Fee Paid to Auditors of Head/Branch Offices of RRBs
Auditor’s Reporting – Joint Audit
Auditor’s Reporting – Joint Audit
The Central Government has decided to increase audit fee being paid to auditors of head/branch offices of regional rural banks (RRBs).
Recently, C A Nilesh Shivji Vikamsey, President, Institute of Chartered Accountants in India (ICAI) said that “I am happy to inform that as informed by National Bank for Agriculture and Rural Development (NABARD), the Government of India has approved the increase in the audit fee being paid to auditors of head/branch offices of regional rural banks (RRBs) for their various business levels by 25% to 40% and some new slabs have been introduced for the annual audit of RRBs for the financial year ending 31st March 2018.”
In the year 2013, the Government had revised the audit fees & allowances of Statutory Central Auditors and Statutory Branch Auditors of RRBs. The same was applicable to those auditors who conducted the annual audit of RRBs for the financial year ending 31 March 2013.
