{"id":121232,"date":"2019-06-03T19:20:20","date_gmt":"2019-06-03T19:20:20","guid":{"rendered":"https:\/\/www.bnreport.com\/rbi-bars-sr-batliboi-from-audit-of-commercial-banks-for-a-year\/"},"modified":"2019-06-03T19:20:20","modified_gmt":"2019-06-03T19:20:20","slug":"rbi-bars-sr-batliboi-from-audit-of-commercial-banks-for-a-year","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/rbi-bars-sr-batliboi-from-audit-of-commercial-banks-for-a-year\/","title":{"rendered":"RBI bars SR Batliboi from audit of commercial banks for a year"},"content":{"rendered":"

Mumbai: The Reserve Bank of India<\/a> (RBI<\/a>) has barred S R Batliboi & Co from carrying out audit assignments in commercial banks for one year starting April 1.<\/p>\n

The central bank said the action was initiated on account of the lapses identified in a statutory audit assignment carried out by the firm.<\/p>\n

On June 29, RBI had put in place an enforcement action framework in respect of statutory auditors<\/a> for the lapses in the statutory audit of commercial banks.<\/p>\n

RBI had pointed that statutory auditors of banks play an important role in contributing to financial stability when they deliver quality bank audits which foster market confidence in banks financial statements.<\/p>\n

Quality bank audits are also a valuable input in the supervisory process of the Reserve Bank of India (RBI) for commercial banks.<\/p>\n

In the interest of improving audit quality and with a view to instituting a transparent mechanism to examine accountability of statutory auditors in a consistent manner, RBI had decided to put in plaRead More \u2013 Source<\/strong><\/a>
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ET Markets<\/a><\/h5>\n

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Mumbai: The Reserve Bank of India (RBI) has barred S R Batli..<\/p>\n","protected":false},"author":1,"featured_media":121233,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-121232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nRBI bars SR Batliboi from audit of commercial banks for a year - Business News Report<\/title>\n<meta name=\"description\" content=\"Mumbai: The Reserve Bank of India (RBI) has barred S R Batli..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/rbi-bars-sr-batliboi-from-audit-of-commercial-banks-for-a-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI bars SR Batliboi from audit of commercial banks for a year - 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