GoI vide their letter F.No.1/14/2004-BOA dated November 8, 2011 had advised that from the year 2011-12 onwards, for appointment of Statutory Central Auditors (SCAs) in PSBs, the procedure as prescribed in the Road Map vide GoI letter F.No.1/14/2004-BOA dated November 14, 2008 for the year 2010-11 may be followed i.e. PSBs will obtain the names of eligible audit firms directly from the Office of C&AG and appoint the SCAs with the prior approval of RBI.

Accordingly, the list containing the names of 325 audit firms eligible to be considered as statutory central auditors in public sector banks for the year 2011-12 has been forwarded to the banks for selection of statutory central auditors for 2011-12. The list of audit firms forwarded to the banks for selection of statutory central auditors for 2011-12 is given in Annex 1