Stock audit panels run on longer cycles than concurrent audit. J&K Bank is empanelling stock auditors for three financial years, FY 2026-27 to FY 2028-29, and UCO Bank's last stock and receivables panel (February 2025) was valid for three years. A firm that misses a round may wait a long time.
Facts checked: 9 October 2026. I found one detailed 2026-27 stock audit notice, from J&K Bank. Treat other banks' criteria as unverified until you read their notices.
What a stock audit covers
A stock auditor verifies the stock and book debts that a borrower has pledged as security against a bank's loans and advances. It is different from a concurrent audit, which is a running check on the bank's own branch transactions.
J&K Bank 2026-27 to 2028-29: the criteria
| Criterion | Detail |
|---|---|
| Who can apply | Chartered Accountant or Cost Accountant firms |
| Experience | At least three years of practice |
| Age | Proprietor or any partner not below 25; individual applicants or proprietors not above 65 at empanelment |
| Eligibility | Qualified under section 141 of the Companies Act, 2013; Indian citizen; income tax assessee, including all partners |
| Preference | Empanelment with PSBs, FIs, DRT, High Court or Supreme Court as stock auditor, preferred but not mandatory |
The closing date was not in the sources I found.
UCO Bank
UCO Bank's stock and receivables notice from February 2025 asked for a Chartered or Cost Accountant with at least three years of stock audit experience for commercial banks, with a three-year panel. See also the UCO concurrent audit round.
Preparation checklist
- Prepare a one-page experience summary of stock audits done, by bank.
- Check each partner's section 141 position and age against the bank's limits.
- Keep proof of past empanelments, since preference is given for them.
- Track each bank's notices page, because three-year panels open rarely.
For concurrent audit, read the empanelment guide and the Indian Bank notice summary.
Frequently asked questions
Can Cost Accountants apply for stock audit?
In the J&K Bank notice, yes. Chartered and Cost Accountant firms were both invited.
How long does a stock audit panel last?
J&K Bank's runs three years. UCO Bank's last panel also ran three years.
Is stock audit the same as concurrent audit?
No. Stock audit tests a borrower's pledged stock and debtors. Concurrent audit tests the bank's own branch transactions.
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