Consider the following statements:
1. The Reserve Bank of India (RBI) has issued guidelines for appointing and re-appointing auditors for state and central cooperative banks.
2. These guidelines are applicable for accounting periods commencing on or after March 1, 2024.
3. Small Industries Development Bank of India (SIDBI) is responsible for obtaining an annual list of audit firms from the Institute of Chartered Accountants of India (ICAI).
4. Statutory Auditors (SAS) shall be appointed at a time for one year only and shall be reappointed annually for the succeeding three years.
How many of the above statements are correct?
1
Only 1
2
Only 2
3
Only 4
4
Both 1 & 3
5
Both 2 & 3