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The Institute has been receiving a number of complaints from Members to the effect that in the interval between sending the application for Bank empanelment and allotment of Bank audits, they have accepted concurrent audit and similar assignments in various Banks, and thereafter, they find that they have been allotted audits in those Banks where they are already engaged in such assignments. This has caused hardship to them. Similar problems are faced by those who have accepted the Directorship or have availed loan from Public Sector Banks (including outstandings in respect of credit cards)/given any guarantee in respect of any loan etc.
In view of the situation, this matter was taken up with the RBI. Accordingly firms/ Members who apply for Bank Empanelment and subsequently accept other assignments from Banks or get associated as Directors or are indebted or give guarantee should therefore inform the Institute in the following Form, the details of such engagements accepted after submission of Multipurpose Empanelment Form to the Institute. It should be noted that assignments accepted which are not informed to the Institute by the 15th January, 2009, will not be forwarded by the Institute to the RBI, and in such cases the RBI may allot audits in the same banks where they are otherwise engaged.

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