Revised guidelines on concurrent audit system: RBI

CONCURRENT AUDIT SYSTEM   For: Preliminary & Mains Topics covered: Revised guidelines on the concurrent audit system   News Flash RBI revised the guidelines on concurrent audit system following the recommendations of an committee under Y.H. Malegam. Now, the concurrent auditors will be appointed for a period of not more than three years. Earlier the tenure of external concurrent auditors was fixed at five years on a continuous basis.   Concurrent Audit The concurrent audit…

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