Defer auditor appointment by at least two years: CII tells RBI May 23, 2021 Phase-wise implementation of norms will ensure better compliance, suggests industry chamber The Reserve Bank of India (RBI) should consider deferment of the implementation of its auditor appointment norms for banks and NBFCs by at least two years, the Confederation of Indian Industry (CII) has suggested. A significant policy measure such as this should not be applied retrospectively and a reasonable transition period for better understanding, planning and compliance is needed, the industry chamber said in a representation to the central bank. It is an established protocol to provide a transitional time to implement such provisions.