RBI bans Batliboi from auditing banks for one year

The Reserve Bank of India has banned audit firm Batliboi & Co. LLP to conduct audit of commercial bank for one year starting April 1, 2019, due to lapses.

“…on account of the lapses identified in a statutory audit assignment carried out by the firm, M/s S.R.Batliboi & Co. LLP, Chartered Accountants (ICAI Firm Registration Number: 301003E), it has been decided that RBI will not approve the said firm for carrying out statutory audit assignments in commercial banks for one year starting from April 1, 2019,” the RBI said. The central bank, however, did not gave any details of the lapses committed by the firm.

Source: Read Full Article