PFRDA (APPOINTMENT OF AUDITORS) GUIDANCE NOTE 2012
Part A: Appointment of Statutory Auditors of Pension Funds
(This part of Guidance Note is issued under Clause 1 of the ‘PFRDA (Preparation of Financial Statements and Auditor’s Report of Schemes under National Pension System) Guildelines-2012’)
I. Eligibility Conditions:
(a) Auditor of a PF shall be either a partnership firm or a corporate entity; it shall not be a proprietorship concern.
(b) The audit entity should have a five year track record of continuous operations.
(c) Audit entity should have a minimum of five partners out of which,
(i) Any four partners to have an audit experience of three years,
(ii) Any two partners to have been in practice in an audit entity for five years ,
(iii) Any two partners to have been with the appointed audit firm for a continuous period of three years.
(iv) Any one partner to be a Fellow member (FCA) of ‘The Institute of Chartered Institute of India’ (ICAI) and should have been in continuous practice for two years after enrolment as FCA.
(d) At least one partner or paid Chartered Accountant of the entity should have CISA/ISA or any other equivalent qualification.
Related to Your Search:
- Amendment to PFRDA (Appointment of Auditors) Guidance Note-2012
- Fraudulent Collection of Funds in the name of National Pension System
- 7th Pay Commission has recommended higher grade pay for Auditors.
- Age Limit for NPS
- Government will soon start the selection process for the new PFRDA chairman
- Withdrawal Process for NPS Subscribers – PFRDA
- PFRDA eyes training 64,500 employees to create mass awareness on NPS, APY
- PCDA Pension Orders 2013 : Counting of former service in respect of employees covered under New Pension Scheme.
- Confirmation of MTS-CLKs-Auditors-Hindi Translators-DEOs-Staff Car Drivers-Canteen Employees