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Bank audit · Empanelment 2026-27· बैंक

Concurrent audit empanelment, explained the way it actually works.

RBI sets the framework; each bank empanels its own CA firms, on its own portal, on its own calendar. Here is the process, the eligibility banks actually ask for, the 2026-27 windows, and what the engagement covers under the RBI 2019 circular.

How the empanelment machinery fits together

Three pieces get conflated in every search for “RBI concurrent audit empanelment”:

  1. RBI prescribes the concurrent audit system — circular RBI/2019-20/64 (18 September 2019) — but does not maintain a concurrent-auditor panel. The circular hands scope-setting to each bank's Audit Committee of the Board and makes coverage risk-based.
  2. Each bank runs its own empanelment of CA firms for concurrent audit — its own portal, form, eligibility marking and window, typically for a July–June term.
  3. ICAI's MEF (Multipurpose Empanelment Form) is the separate route to the bank-branch statutory audit panel — but the Unique Code Number and the professional profile it builds are asked for in most concurrent applications too.

So the winning routine is: keep the UCN and MEF profile current, complete the ICAI Certificate Course on Concurrent Audit of Bank Branches, and watch each target bank's portal in the February–July stretch.

2026-27 application windows seen so far

Windows are short and move every year — treat these as the pattern, and verify on the bank's own portal before applying. (Verified July 2026.)

Bank2026-27 windowNote
Bank of Maharashtra16 Feb – 02 Mar 2026Online portal; window closed for 2026-27
Canara Bank25 Apr – 09 May 2026Annual online empanelment
Bank of IndiaApplications until 15 Jul 2026Term typically Jul 2026 – Jun 2027
Union Bank of IndiaPortal-based (eremit portal)Watch the auditor-empanelment portal
Central Bank of IndiaOnline empanelment, announced yearlyFY-wise notification
State Bank of IndiaAnnounced on bank website / PDCLargest concurrent panel in the system

The application, in practice

Keep ready before any window opens:

  • Firm constitution certificate and ICAI firm registration details
  • UCN (Unique Code Number) from the bank-audit empanelment machinery
  • MEF acknowledgement / number for the latest year
  • ICAI Certificate Course on Concurrent Audit of Bank Branches — completion certificate of the proprietor/partner
  • DISA / CISA certificates, if held (weighted by most banks)
  • Partner and staff profile — qualified/semi-qualified strength, bank-audit experience
  • Office address proof near the branches you can realistically serve — banks allot by proximity
  • Declarations: no statutory audit of the same bank in the preceding two years; no disciplinary proceedings

Applications are marked, not first-come — experience, certifications and proximity decide the panel. Allotment letters typically follow within the quarter; acceptance usually requires taking charge at the branch within a stated window.

Free downloads · Once you're empanelled

Walk into the branch with the working papers ready

The concurrent checklist covers the 2019-circular scope areas; the LFAR and branch-statutory formats are there for when the statutory season lands on top of the concurrent term.

Bank Concurrent Audit Checklist →LFAR format →Branch statutory checklist →

Running the firm's statutory audits alongside the bank season? Your first audit on CORAA is free.

Empanelment, frequently asked

Does RBI empanel concurrent auditors directly?

No — and this is the most common confusion. RBI prescribes the concurrent audit framework (circular RBI/2019-20/64 of 18 September 2019: risk-based coverage, ACB/LMC-approved scope, coverage of centralised processing centres), but each bank runs its own empanelment of CA firms, on its own portal, on its own calendar. What firms call the "RBI number" is the Unique Code Number (UCN) allotted through the RBI/ICAI bank-audit empanelment machinery — most banks ask for it in the concurrent application.

What eligibility do banks typically ask for?

The common pattern across public-sector banks: a practising CA firm (proprietorship or partnership) with a valid UCN; the proprietor or a partner having completed the ICAI Certificate Course on Concurrent Audit of Bank Branches; DISA/CISA qualification weighted or preferred; and a cooling-off — a firm that was the same bank’s statutory auditor in the preceding two years is typically not considered. Individual banks add local criteria (staff strength, office location near the branch, prior bank-audit experience).

When do the application windows open?

There is no single national window — each bank announces its own, usually between February and July for a term running July to June. In 2026, Bank of Maharashtra ran 16 Feb–2 Mar, Canara Bank 25 Apr–9 May, and Bank of India accepted applications to 15 July. Watch the bank websites, the ICAI PDC opportunities page, and regional-council announcements; the windows are short and strictly portal-based.

Is MEF the same as concurrent audit empanelment?

No. The Multipurpose Empanelment Form (MEF, meficai.org — ICAI’s Professional Development Committee) is the route to the bank-branch STATUTORY audit panel, normally opening around August–September each year. Concurrent audit panels are separate, bank-run processes — though several banks ask for your MEF number or draw from statutory panels, and the UCN travels across both.

What does a concurrent auditor actually cover under the 2019 framework?

The RBI circular makes coverage risk-based rather than a fixed checklist: the bank’s Audit Committee of the Board (or Local Management Committee) approves the scope; risk-sensitive areas per the bank’s business model must be covered; large-sample random transaction testing applies where required; and centralised processing centres for business origination and monitoring must be within scope. In practice: advances (sanction powers, security creation, end-use, excess drawings), deposits, KYC/AML, forex, treasury, and revenue leakage.

What fees do concurrent audits pay?

Fees are set by the bank, not RBI — the 2019 circular tells banks to fix remuneration commensurate with the scope and coverage of the audit and the auditor’s time. In practice fees vary widely by branch size and bank; the empanelment notification usually states the slab.