Banks told to have stricter norms for eligibility of forensic auditors
Banks are tightening their forensic auditor empanelment framework. This action follows Enforcement Directorate observations against two audit firms. Two audit firms have been de-empanelled from the Agencies for Specialised Monitoring list. Lenders...
New Delhi: The government has directed banks to tighten the empanelment framework for forensic auditors by imposing stricter eligibility criteria following Enforcement Directorate (ED) observations against two audit firms in cases involving Amtek Group and ACIL Ltd.
Banks have since de-empanelled the two auditors from their Agencies for Specialised Monitoring (ASM) list, said two executives aware of the developments.
"The investigation agency had recommended immediate blacklisting of these audit firms and termination of ongoing engagements," said one of the executives, adding that lenders will take further measures to review the framework for empanelment of audit firms.
There are around 800 agencies, including chartered accountants, empanelled for specialised monitoring for the 2025-28 period.
Public sector banks posted a record net profit of ₹1.98 lakh crore in FY26, driven by improved asset quality, healthy credit growth and higher income, marking their fourth consecutive year of profitability.
Sebi shortens forensic auditor list to 9 from 20
