Section 30 of BRA : Section 30: Audit

BRA

JavaScript did not load properly

Some content might be missing or broken. Please try disabling content blockers or use a different browser like Chrome, Safari or Firefox.

Explanation using Example

Imagine a scenario where ABC Bank, a banking company operating in India, is preparing its annual financial statements. According to Section 30(1) of the Banking Regulation Act, 1949, the bank's balance-sheet and profit and loss account must be audited by a qualified auditor.

Before ABC Bank can appoint a new auditor or re-appoint its current auditor, as per Section 30(1A), it must seek the prior approval of the Reserve Bank of India (RBI). This ensures that the auditor meets the central bank's requirements and standards for auditing a banking institution.

Suppose the RBI suspect...

Login to access all pages and read more content.

To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.

🚀 Special Offer! Enjoy 1 Year of Ad-Free Browsing with any subscription.
KanoonGPT is now faster and smarter, powered by upgraded servers.
Subscribe today and unlock all new features!
Update: Discover how KanoonGPT revolutionizes legal research! Watch our demo video on the homepage to see how you can chat with various legal sections using our innovative hybrid AI search. Enjoy free unlimited AI access for a limited time!
Update: Page bookmarking and open in new tab is now supported! Simply use your browser's bookmark manager to save this page for quick access later.
Update: We're building AI tools for the Indian Law community. Help shape the future by filling out this quick form for a chance to get a free 1-year usage of the requested tool.

Download Digital Bare Acts on mobile or tablet with "Kanoon Library" app

Kanoon Library Android App - Play Store LinkKanoon Library iOS App - App Store Link