DENA Bank Applications for selection of CA Firms as Concurrent Auditors Year 2016-2017

DENA Bank has invited the tender from Chartered Accountant (CA) Firms for  Concurrent Auditors for Period Starting from July 2016-June 2017. Link for online registration will be available at Dena Bank Website from 26/04/2016 to 10/05/2016 for applying for Concurrent Audit for Dena Bank Branches. For Any kind of query, Please contact at:- email : conaudit@denabank.co.in   or Call PH NO: 022-22665616 / 18 . CA’s working as Proprietorship concern are not eligible for Concurrent Audit of Bank

Disqualifications for Chartered Accountant Firm Applying for DENA Bank Concurrent Audit

Any form of canvassing/lobbying/influencing/query regarding short listing, status etc will be treated as disqualification.

Following CA firms are not eligible for on line registration.

  1. Proprietorship CA firms.
  2. CA firm having less than 5 years existence.
  3. CA firms presently engaged by the Bank as concurrent auditor.
  4. CA firms not having CISA / DISA qualified partners / employees.
  5. CA firms engaged by the Bank as Statutory Auditors
  6. CA firms debarred by ICAI / RBI or blacklisted by the Bank for refusal to conduct any assignment allotted by the Bank during last 3 (Three) years.

Time Frame for apply for Concurrent Audit of Dena Bank 

  • Due Dates Commencement of RFR 26/04/2016
  • Last date for submission of RFR 10/05/2016

LIST OF CENTER FOR CONCURRENT AUDIT

SNCENTERDISTRICTSTATE
1GUNTURGUNTURANDHRA PRADESH
2KAKINADAKAKINADAANDHRA PRADESH
3VIJAYWADAKRISHNAANDHRA PRADESH
4PATNAPATNABIHAR
5DHAMTARIDHAMTARICHATISHGADH
6BERLADURGCHATISHGADH
7BHILAIDURGCHATISHGADH
8DURGDURGCHATISHGADH
9MOHAN NAGAR DURGDURGCHATISHGADH
10KAWARDHAKAWARDHA(KABIRDHAM)CHATISHGADH
11SARAIPALLYMAHASAMUNDCHATISHGADH
12RAIPURRAIPURCHATISHGADH
13TATIBANDHRAIPURCHATISHGADH
14RAJNANDGAONRAJNANDGAONCHATISHGADH
15AMLI, SILVASSASILVASSADADRA & NAGAR HAVELI
16SILVASSASILVASSADADRA & NAGAR HAVELI
17DAMANDAMANDAMAN & DIU
18DELHIDELHIDELHI
19NCRDELHI NCRDELHI
20GOAGOAGOA
21AHMEDABADAHMEDABADGUJARAT
22BAVLAAHMEDABADGUJARAT
23KASINDRAAHMEDABADGUJARAT
24SANANDAHMEDABADGUJARAT
25AMRELIAMRELIGUJARAT
26SAVARKUNDLAAMRELIGUJARAT
27ANANDANANDGUJARAT
28PETLADANANDGUJARAT
29DHANSURAARAVALIGUJARAT
30MODASAARAVALIGUJARAT
31UBHARANARAVALIGUJARAT
32DEESABANASKANTHAGUJARAT
33PALANPURBANASKANTHAGUJARAT
34THARADBANASKANTHAGUJARAT
35ANKLESHWARBHARUCHGUJARAT
36BHARUCHBHARUCHGUJARAT
37DAHEJBHARUCHGUJARAT
38BHAVNAGARBHAVNAGARGUJARAT
39DHASABHAVNAGARGUJARAT
40ADIPURBHUJGUJARAT
41ANJARBHUJGUJARAT
42BALADIABHUJGUJARAT
43BHACHAUBHUJGUJARAT
44BHARAPARBHUJGUJARAT
45BHUJBHUJGUJARAT
46GADHSISABHUJGUJARAT
47GANDHIDAMBHUJGUJARAT
48KERABHUJGUJARAT
49MANDVIBHUJGUJARAT
50NAKHATRANABHUJGUJARAT
51RAHPARBHUJGUJARAT
52RAMPAR VEKARABHUJGUJARAT
53SAMATRABHUJGUJARAT
54BOTADBOTADGUJARAT
55BALWAGANDHINAGARGUJARAT
56CHHALAGANDHINAGARGUJARAT
57DEHGAMGANDHINAGARGUJARAT
58GANDHINAGARGANDHINAGARGUJARAT
59KALOLGANDHINAGARGUJARAT
60MANEKPURGANDHINAGARGUJARAT
61RUPALGANDHINAGARGUJARAT
62GONDALGONDALGUJARAT
63DWARKAJAMNAGARGUJARAT
64JAMNAGARJAMNAGARGUJARAT
65KALAVAD,JAMNAGARJAMNAGARGUJARAT
66JUNAGADHJUNAGADHGUJARAT
67KESHOD, JUNAGADHJUNAGADHGUJARAT
68MANAVADAR, JUNAGADHJUNAGADHGUJARAT
69VISAVADAR, JUNAGADHJUNAGADHGUJARAT
70LUNAWADAMAHISAGARGUJARAT
71KADIMEHSANAGUJARAT
72MEHSANAMEHSANAGUJARAT
73UNJHAMEHSANAGUJARAT
74VIJAPURMEHSANAGUJARAT
75VISNAGARMEHSANAGUJARAT
76HALVADMORBIGUJARAT
77MORBIMORBIGUJARAT
78TANKARA, MORBIMORBIGUJARAT
79TRAJPAR, MORBIMORBIGUJARAT
80NADIADNADIADGUJARAT
81AAT, NAVSARINAVSARIGUJARAT
82NAVSARINAVSARIGUJARAT
83PATANPATANGUJARAT
84RADHANPURPATANGUJARAT
85SIDHPURPATANGUJARAT
86KUTIYANA, PORBANDARPORBANDARGUJARAT
87PORBANDARPORBANDARGUJARAT
88RANAKANDORNA, PORBANPORBANDARGUJARAT
89GODHRARAJKOTGUJARAT
90JASDAN, RAJKOTRAJKOTGUJARAT
91RAJKOTRAJKOTGUJARAT
92AMBLIARASABARKANTHAGUJARAT
93GANTHIOLSABARKANTHAGUJARAT
94HIMMATNAGARSABARKANTHAGUJARAT
95IDARSABARKANTHAGUJARAT
96KHEDBRAHMASABARKANTHAGUJARAT
97KUKADIASABARKANTHAGUJARAT
98MUDETISABARKANTHAGUJARAT
99PRANTIJSABARKANTHAGUJARAT
100TALODSABARKANTHAGUJARAT
101BARDOLISURATGUJARAT
102SURATSURATGUJARAT
103DHRANGADHRASURENDRANAGARGUJARAT
104SURENDRANAGARSURENDRANAGARGUJARAT
105VADODARAVADODARAGUJARAT
106VALSADVALSADGUJARAT
107VAPIVALSADGUJARAT
108WAGHODIAWAGHODIAGUJARAT
109CHANDIGARHCHANDIGARHHARYANA
110HISSARHISSARHARYANA
111JINDJINDHARYANA
112KURUKSHETRAKURUKSHETRAHARYANA
113PANIPATPANIPATHARYANA
114RANCHI / BOKARORANCHIJHARKHAND
115BANGALOREBANGALOREKARNATAKA
116PATRENAHALLYCHIKBALLAPURKARNATAKA
117ERNAKULAMERNAKULAMKERALA
118TRIVENDRUMTRIVENDRUMKERALA
119BARWANIBARWANIMADHYA PRADESH
120BHOPALBHOPALMADHYA PRADESH
121HARDAHARDAMADHYA PRADESH
122INDOREINDOREMADHYA PRADESH
123JABALPURJABALPURMADHYA PRADESH
124AMRAVATIAMRAVATIMAHARASTRA
125AURANGABADAURANGABADMAHARASTRA
126BARAMATIBARAMATIMAHARASTRA
127AMALNER / DHULEDHULEMAHARASTRA
128DHULEDHULEMAHARASTRA
129SHIRPURDHULEMAHARASTRA
130CHALISGAONJALGAONMAHARASTRA
131CHOPDAJALGAONMAHARASTRA
132JALGAONJALGAONMAHARASTRA
133KOLHAPURKOLHAPURMAHARASTRA
134LATURLATURMAHARASTRA
135MUMBAIMUMBAIMAHARASTRA
136NAGPURNAGPURMAHARASTRA
137MUDKHED, NANDEDNANDEDMAHARASTRA
138NANDEDNANDEDMAHARASTRA
139PETH UMRINANDEDMAHARASTRA
140NANDURBARNANDURBARMAHARASTRA
141SHAHADANANDURBARMAHARASTRA
142DEOLANASHIKMAHARASTRA
143MALEGAONNASHIKMAHARASTRA
144NASHIKNASHIKMAHARASTRA
145SATANANASHIKMAHARASTRA
146VINCHURNASHIKMAHARASTRA
147BOISARPALGHARMAHARASTRA
148PALGHARPALGHARMAHARASTRA
149VIRARPALGHARMAHARASTRA
150PANAJIPANAJIMAHARASTRA
151SAILUPARBHANIMAHARASTRA
152PUNEPUNEMAHARASTRA
153PANVELRAIGADMAHARASTRA
154SANGLISANGLIMAHARASTRA
155SOLAPURSOLAPURMAHARASTRA
156THANETHANEMAHARASTRA
157ULHASNAGARTHANEMAHARASTRA
158VASHITHANEMAHARASTRA
159CUTTACKCUTTACKODISHA
160BHUBANESHWARKHURDHAODISHA
161AMRITSARAMRITSARPUNJAB
162LUDHIANALUDHIANAPUNJAB
163MOHALIMOHALIPUNJAB
164PATIALAPATIALAPUNJAB
165KISHANGARHAJMERRAJASTHAN
166BHILWARABHILWARARAJASTHAN
167JAIPURJAIPURRAJASTHAN
168JODHPURJODHPURRAJASTHAN
169CHENNAICHENNAITAMILNADU
170COIMBATORECOIMBATORETAMILNADU
171DINDIGULDINDIGULTAMILNADU
172ERODEERODETAMILNADU
173SALEMSALEMTAMILNADU
174TANJAVORETANJAVORETAMILNADU
175TRICHYTRICHYTAMILNADU
176HYDERABADHYDERABADTELANGANA
177DHARMARAMNIZAMABADTELANGANA
178BARABANKIBARABANKIUTTAR PRADESH
179GORAKHPURGORAKHPURUTTAR PRADESH
180KANPURKANPURUTTAR PRADESH
181LUCKNOWLUCKNOWUTTAR PRADESH
182DEHRADUNDEHRADUNUTTRAKHAND
183RUDRAPURUDDHAMSINGH NAGARUTTRAKHAND
184KOLKATAKOLKATAWEST BANGAL

Extension of Due Date for Filing AOC-4 and MGT 7 to 30th Nov 2015

MCA has extended the due date for filing AOC-4 and MGT-7 E FORM under the Companies Act 2013 to 30th Nov 2015. As AOC-4 XBRL due date was already extended to 30th Nov 2015 through General Circular No.10/2015 dated 13.07.2015.

General Circular No. 14/2015

F. No.01/34/2013-CL.V

Government of India

Ministry of Corporate Affairs

5th  Floor, A wing, Shastri Bhawan

Dr. Rajendra Prasad Road, New Delhi

Dated: 28th October, 2015

To

All Regional Directors,

All Registrar of Companies,

All stakeholders

Subject : Relaxation of additional fees and extension of last date of filing of AOC-4, AOC-4 XBRL and MGT-7 E-Forms under the Companies Act, 2013 – reg.

Sir,

In continuation of this Ministry’s General Circular No.10/2015 dated 13.07.2015, keeping in view the request received from various stakeholders, it has been decided to relax the additional fee payable on forms AOC-4 and AOC-4 XBRL upto 30th November, 2015. The additional fee requirement for MGT-7 E-Form is also relaxed for all such forms filed till 30th November, 2015, wherever additional fee is applicable.

2. This issues with the approval of competent authority.

Yours faithfully,

(K.M.S. Narayanan)

Assistant Director

Extension of Due Date of Returns of Income and Audit reports u/s 44AB to 31st Oct 2015

Central Board of Direct Taxes (Income Tax Dept) has extended the due date of Filing Income Tax Return and Audit Report from 30th Sept 2015 to 31st Oct 2015.

F.No.22S/207 /201S/1T A.II

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

North Block, ITA.rr Division

New Delhi dated the 1 st of October, 2015

Order under Section 119 of the Income-tax Act, 1961 In supersession of orders under Section 119 of the Income-tax Act, 1961 (‘Act’) dated 30th September, 20 15 vide file of even number, the Central Board of Direct Taxes, in exercise of powers conferred under Section 119 of the Act, hereby orders that the returns of income and audit reports u/s 44AB due for e-filing by 30th September, 20 15 may be filed, across the country, by 3 1 st October, 2015.

(Rohit Garg)

Deputy Secretary to the Government of India

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Canara Bank Online Application for Empanelment of Concurrent Auditors

Canara Bank invites applications from the eligible/interested Chartered Accountant Proprietary Concerns / Firms / Companies for empanelment as Concurrent Auditors for conducting Concurrent Audit in the identified 650 branches / units for the period from 01.07.2015 to 30.06.2016. Eligible/interested Proprietary Concerns / Firms / Companies, who are agreeable to the above terms & conditions, may apply online only in the application, on or before 26.06.2015.

MANDATORY Conditions for appointment:

1. Applicant should be either a Partnership or Proprietorship firm or a Company, already in the panel of the R B I, which are circulated among the Banks for Statutory Audit of the Banks from time to time. Registration of firm with RBI and category is mandatory.

2. The auditors who are already doing the Concurrent Audit of our branches are eligible for re-empanelment. However, those Audit Firms which are conducting Concurrent Audit of our branches continuously for a period of THREE years or THREE terms are not eligible for re-empanelment. They are eligible for reempanelment after a cooling period of one year.

3. The empanelment and allocation of branches to the auditors will be purely the prerogative of the Bank. Such empanelment shall be initially for a period of one year and can be extended upto a maximum period of 3 years ( subject to clause 2 above) subject to satisfactory performance of the auditor.

4. The Concurrent Audit firm should furnish the name and qualification of the persons, who shall be conducting audit in the branch, to the Bank before commencing audit assignment and such persons will have to continue audit for all the months.

5. The Concurrent Audit firm will undertake that they will not sub contract the audit assignment.

6. The Concurrent Audit firm will not lobby directly or indirectly for considering any credit proposals of their friends/clients to the Bank.

7. The eligible auditor / firms should be qualified under provisions of Section 141 of Companies Act 2013 for appointment as auditors of the Bank. Auditors should not have been disqualified under Section 226 of the Companies Act, 1956 to accept this appointment.

8. The Concurrent Audit firm / or the partners or any of their clients should not have any credit facilities with the auditee branch for which they are applying for except credit facilities against their own deposits.

9. The firm/any partners/Directors of the firm/ Company should not have statutory audit, credit audit, valuation of fixed / current assets or any other similar assignments with any branch of Canara Bank.

10.The firm/any partners/ Directors of the firm/ Company should not have any disciplinary matters pending with ICAI/RBI and they should not have suffered any disqualification.

11.The firms should be having sufficient experience in conducting audits in Banks / our Bank. Other things being equal the Audit Firms with Proprietor/ partner with CISA /DISA qualification will be given preference.

12.The firm should have their office / infrastructure in the proposed Centre/ town / city opted for.

13.Only one branch will be allotted to a selected firm. However, the Bank has the discretion to change the allocation of the branches based on any administrative exigencies.

14.Whenever any of the Proprietor / Partner/ Director of the Audit firm/ Company is related to any of the employees/ Directors of the Bank, the relationship with such employees/ Directors should be specifically mentioned in the application.

15.The Bank has the discretion to consider or reject any of the applications based on any of the RBI / Government / Internal guidelines of the Bank.

16.Only the audit firm provisionally selected for empanelment will be communicated through e-mail. No individual intimation will be sent to the audit firm whose application is not considered for empanelment.

17.The audit firm should give their consent in writing / undertaking letter in the prescribed format agreeing to comply with and bound by the terms and conditions prescribed by the Bank.

18.The Audit Firm selected is eligible for reappointment subject to Annual Review by the Bank upto a maximum period of 3 Terms / 3 Years. The re-appointment may be to the same branch or to any other branch at the discretion of the Bank.

19.The Audit firm shall submit the reports in the prescribed format covering all the Audit areas advised from time to time which includes quarterly Risk Rating of branches. The Auditors shall certify all the reports under branch Statutory Audit system covering NPA provisioning, Insurance Coverage, P & L A/c, CRAR, Certification regarding Tax Audit and other areas to be advised from time to time.

20.The Audit Firm shall sign on the Do’s & Don’ts statement in order to have proper arms length relationship with the Branch / Department for which they will be conducting Audit.

 

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Punjab & Sind Bank Online Application Empanelment of Chartered Accountant for Concurrent Audit

Punjab & Sind Bank Online Application Empanelment of Chartered Accountant for Concurrent Audit. Last Date for Empanelment Application is by 31st May 2015. 

Eligibility Criteria For Chartered Accountant for Concurrent Audit 

  • Partnership firm with at least one FCA Partner.
  • Firm should be 3 year old
  • The firms Should be Registered with the RBI panel (UCN Number with Category)
  • Atleat one Partner or Employee should be qualified Information System Auditor (CISA/DISA) with adequate exposure of more than 1 year in systems audit.
  • Tenure of the concurrent audit would be initially for one year and can be extended for a further period of one year (overall two years)

The following criteria shall be adopted while selecting a firm for concurrent audit assignment:

i. The Chartered Accountants firm should preferably be a partnership firm with at least one FCA partner. The auditor has to attend branch/office for at least 14 days in a calendar month. The FCA would visit the branch personally at least 4 times in a month or as decided by the bank.

ii. The Sole Proprietorship Chartered Accountant firms will be discouraged, however, in case proprietor is a FCA and has employed an ex-banker of scale-II & above for conducting concurrent audit, the Bank, on merit of each such case, would consider the application. The auditor has to attend branch/office for at least 14 days in a calendar month. Further, in such cases the FCA would visit the branch personally at least 4 times in a month or as decided by the bank.

iii. The license of the proprietor / Key Person of the partnership concern has been issued for Full Time practice by The Institute of Chartered Accountants and the proprietor/ Key Person of the partnership firm is not in another Full Time Service.

iv. The firms will be selected from the RBI panel as per gradation suggested for Branch Statutory Auditor appointment.

v. The firms should prefferable have qualified Information System Auditor (CISA/DISA) with adequate exposure of more than 1 year in systems audit. IS audit would be conducted in accordance with IS Audit policy of the Bank & as per format provided by the bank, which should form an integral part of concurrent audit.

vi. The firms should have been established for at least 3 years prior to the date of application. The audit firm or any sister / associate concern / network firm should not have been debarred/de-paneled/ is not conducting the statutory audit of the Bank or any of its branches. Preference will be given to the firms where the partners themselves were ex-bankers or the firm has got tie-up with ex-bankers, of scale-II & above, with requisite experience and exposure. In case, CA firm is doing auditing work/providing any professional Services to any of the customers of the Bank, this must be disclosed by way of an undertaking/declaration given below: “ We have been allotted Concurrent Audit work of your Branch Office……………… for the period………..to ………….. . In this regard, it is declared that our firm is / has been providing Professional Services/ is an Auditor of the following customers of the Branch. This declaration must be enclosed with every monthly/quarterly report sent by you.”

vii. The firm is not in any case disqualified under provision of Sec.226 of Companies Act, 1956. The firm or any of its associate firm(s) have never been de-paneled due to poor performance.

viii. Preference should be given to those firms who have adequate exposure in conducting concurrent audit of the Bank branches of public sector / major private sector banks.

ix. The firms should have necessary office set up within same city or periphery of the allotted branch/office and adequate personnel to ensure proper deployment and timely completion of the assignments.

x. The firm has to undertake Risk Based Concurrent Audit as per checklist & audit formats of the Bank. On the implementation of Risk Based Concurrent Audit system in the bank the concurrent auditors would give rating or grade, as per policy of the bank, for the audit entity. This rating should be based on his observations about branch functioning.

xi. The firm would mandatorily sign the Do’s & Don’t statement & abide by Do’s & Don’ts issued by the Bank.

xii. The tenure of the concurrent audit would be initially for one year and can be extended for a further period of one year (overall two years), based on the performance of the auditor in the first year, provided the firm applies afresh online for the year and the firms may be considered for audit assignment in other audit units/ locations or areas. However, after having conducted concurrent audit for two years continuously, the concerned CCA will be given one year break (Cooling period), before reappointing them or their associate concern(s).

xiii. At any point of time, not more than one audit assignment would be awarded to any single firm. An audit assignment that needs to be carried out across the branches/ units at different locations would be considered as a single assignment for this purpose.

xiv. Cooling period of two years would be observed for a firm to become eligible for appointment in the same audit unit purely at the discretion of the Bank and no rights whatsoever accrue to the firm for such appointment.

xv. The audit coverage should be strictly as per the scope of audit as may be decided by the Bank from time to time.

xvi. The concurrent auditor should not undertake any other activity/ assignment on behalf of the branch or unit without obtaining the prior concurrence of the audit department in writing.

xvii. The present fee structure is as under:

Sr. No.Criteria for Remuneration (Deposits + Advances) at branch Amount of Remunerationpayable per month (lump sum)  in Rupees
1Up to 100 Crore

10000/-

2Over Rs.100 Crore & up to Rs.300 Crore

12000/-

3Over Rs.300 Crore & up to Rs.500 Crore

14000/-

4Over Rs.500 Crore & up to Rs.1000 Crore

16000/-

5Over Rs.1000 Crore

18000/-

6Service Branches

7500/-

7Treasury & Dealing Rooms (HO Foreign Exchange Dept)

12000/-

8Investment Portfolio (HO Investment Dept.)

12000/-

9H.O.I.T Department

12000/-

The above fee is exclusive of Service Tax.

xviii. No out of pocket expenses or traveling allowance / halting allowance would be paid to the concurrent audit firms for carrying out the assignment. However, the service tax, education cess etc. would be paid as applicable from time to time in addition to the basic fee. The concurrent auditors may be reimbursed actual out of pocket expenses incurred in connection with travel involved for conducting stock audits. The payment to the concurrent auditors would be subject to deduction of tax at source at appropriate rates.

xix. All the necessary certificates that need to be given as a part of the concurrent audit assignment (Bills of Entry verification, A1/A2 Forms etc.) would be given by the audit firm under its letterhead without any additional certification fee.

xx. On the implementation of Risk Based Concurrent Audit system in the bank the concurrent auditors would give rating or grade, as per policy of the bank, for the audit entity. This rating should be based on his observations about branch functioning.

xxi. The Concurrent auditor shall use the checklist and other operating guidelines provided by the Bank. Need based training / consultation would be provided to them for enhancing the quality of the audit.

xxii.The Concurrent auditor i.e. Chartered Accountant Firm will also undertake stock audit function for which they will be suitably remunerated, as per policy of the Bank.

xxiii.All matters of grave nature, as defined & communicated by the Bank from time to time, which are likely to cause loss to the bank, in respect of which immediate action is called for on the part of the Branch/Zonal/Head Office have to be informed immediately by way of Confidential/Flash Reports. Before drawing up the report, the Concurrent Auditor should have a thorough discussion with the in-charge of audit unit to ascertain all relevant points/facts on the subject to be covered in the confidential/flash report. The copies of reports need not be given to the Branch. Such reports should be sent to General Manager (Inspection) with a copy to respective Zonal Manager. The Concurrent Auditor should invariably furnish therein his views/opinion/conclusions based on his findings.

xxiv.The concurrent audit report is to be submitted to Branch, Zonal Office and respective Zonal Inspectorate, however, CCAR for quarter end is to be submitted to HO. Inspection Dept. also.

xxv.A formal wrap-up discussion with the in-charges of audit unit along with the concurrent auditors will be held once in quarter with the Zonal Manager, at Zonal Office. In case of audit of departments at Head Office, the wrap up discussion with HOD alongwith concurrent auditors would be held with General Manger (Inspection) once in a quarter at Head Office.

xxvi.The CCA should ensure that the deficiencies pointed out in the concurrent audit reports are rectified & closed within a reasonable period, as prescribed by the bank. The pending issues of the previous reports need to be mentioned as a persisting irregularity/deficiency in the subsequent reports and the audit reports i.e. monthly and quarter ended. The concurrent audit reports of quarter end are to be formally closed once in a quarter.

xxvii.The concurrent auditor is to submit the report (a softcopy through email followed by Hard copy) strictly as per the schedule prescribed. Any delay in submission should result in withholding the professional fee, which should be released after the approval from General Manager (Inspection). Repeated instance would lead to cancellation of assignment.

xxviii.The concurrent auditor to carry out assignment in a professional manner and in case of any misconduct & negligence the Bank will report the matter to ICAI / RBI. This will be in addition to the disengagement from the assignment.

xxix.In the event of colluding with customer/third part causing pecuniary loss/damage to the bank, the bank shall recommend the name of the concurrent auditor to IBA for inclusion in its caution list circulated among banks on the advice of RBI, besides termination of assignment.

xxx. In addition to above, the audit firms shall:

a) Execute undertaking of fidelity and secrecy on its letterhead in the format prescribed by the Bank.

b) Not sub-contract the audit work assigned to any outside firm or other persons even though such persons are qualified Chartered Accountants.

c) Furnish a declaration that credit facilities availed by the firm or partners or firms in which they are partners or directors including any facility availed by a third party for which the firm or its partners are guarantor/s have not turned or are existing as non- performing assets as per the prudential norms of RBI. In case the declaration is found incorrect, the assignment would get terminated besides the firm being liable for any action under ICAI / RBI guidelines.

d) Print of Online application, ICAI Constitution Certificate, ICAI Membership Certificate, DISA/CISA certificate should be submitted latest by 31st May 2015 to:

Deputy General Manager (I) Punjab & Sind Bank
H.O. Inspection Department,
06,Scindia House, Connaught Place,
New Delhi-110001
E-mail – ho.insp@psb.co.in
Phone – 011- 23716646/23716647/23718685
Fax- 23714911

Any other terms and conditions of the assignment would be decided by the Bank on a case-to-case basis.

United Bank of Indian Application by Chartered Accountant for Empanelment of Concurrent & Revenue Audit

United Bank of India has invited the Application from Chartered Accountant Firms for Empanelment of Concurrent & Revenue Audit. Last Date for Online Application is 1st June 2015.

Notice for CA firms applying for empanelment as Concurrent/Revenue Auditor

1. United Bank of India invites application from practicing Firms of Chartered Accountants in India who fulfill the eligibility criteria as mentioned here under and are willing to have their firms empanelled as Concurrent Auditor and Revenue Auditor of the Bank for conducting Concurrent Audit and Revenue Audit of branches/offices.

2. The Application should be submitted on-line in the prescribed format given in Bank’s website www.unitedbankofindia.com

3. Incomplete application will not be entertained.

4. Mere submission of application does not, in any way, constitute guarantee for empanelment / allotment of the audit job of any nature from the bank. The empanelment and allocation of the branches to the auditors will be purely the prerogative of the Bank.

5. Only those CA Firms, who would be allotted the Audit assignments, would be required to submit their testimonials along with the hardcopy of the submitted online application form duly signed with seal. No other typed or handwritten application form shall be accepted.

6. The CA firms earlier empanelled with the bank for above purpose prior to this notification are also to submit their applications as our entire previous empanelment stands cancelled.

The eligibility criteria for such empanelment of CA firms with the Bank are as under:

1. The Firm should be in RBI empanelment.

2. The firm shall have experience of Concurrent Audit/ Statutory Audit of minimum three other Banks.

3. The firm having DISA (ICAI)/ CISA (IASCA) qualified chartered accountants and/or having completed certified course on Concurrent Audit from ICAI will be preferred.

4. For North Eastern States, chartered accountants may be empanelled having no experience of Bank Audit but should be doing practice for at least 5 years.

5. For Branches located in hardship/difficult areas other than in North Eastern States, firms having experience of Concurrent Audit / Statutory Audit of at least one Bank may be empanelled.

The CA firms fulfilling the above criteria as applicable to them and narrated under para-1 to para-5 only are requested to submit their application online through our Bank’s Website www.unitedbankofindia.com latest by 01.06.2015 up to 6.00 p.m. In case of any difficulty in filing of the online application, the CA firms are requested to mail the problem to the mail ids agmins@unitedbank.co.in or cmins@unitedbank.co.in along with the screenshot of the webpage where problem is encountered.

Vijaya Bank Online Applications for Empanelment for Concurrent Audit for the year 2015-16

Vijaya Bank has issued the tender for Emapanelment/appointment of Concurrent auditor for its branches across India of CA firms. Applications for selection of CA Firms as Concurrent Auditors for the period July 2015 to June 2016 in Vijaya Bank. Link for online registration is available at Vijaya Bank Bank Website

The eligibility criteria for selection of Concurrent Auditors for Vijaya Bank for FY 2015-16 Starting from 01.07.2015 to 30.06.2016, Subject to a maximum of three years on a continuous basis.

  1. The Chartered Accountant firms/Concurrent Auditors should be on RBI panel.
  2. The Chartered Accountant firms should be partnership concerns.
  3. At -least one of the partners of the audit firm should have a qualified Information System Auditor (CISA/DISA) with necessary exposure to system audit.
  4. The firm should have necessary office set up and adequate personnel to ensure proper deployment and timely completion of the assignment.

Vijaya Bank Concurrent Audit Fees for FY 2015-16: The monthly fees payable to concurrent auditors range from Rs.9, 000/- to Rs.20, 000/-, (except FTMD-HO) depending upon the level of the business of the branch/offices. Additionally, applicable service charges are also paid by the Bank.

The list of proposed branches for which the Concurrent Auditors are required, are furnished in the Annexure-III.

No of Branches CA can Apply for : The Concurrent Auditors / the Chartered Accountant firms may mention their choice of branches (maximum of 5 branches) in their application. However, the Concurrent Auditor will be given only one branch, preferably of his choice. In case of more than one concurrent auditor competing /opting for the same branch, the decision of the Bank shall be final and it cannot be questioned or contested in any forum, legal or otherwise.

Address for Sending Concurrent Audit Application for Vijaya Bank: The applicants should also send a hard copy of online application & the undertaking letter generated in the website with the acknowledgement number, duly signed by the authorised signatory of the firm, addressed to: The Deputy General Manager, Central Inspection Department Vijaya Bank Head Office, No.41/2,M.G.Road, Bangalore-560001

DOWNLOAD LIST OF BRANCHES AVAILABLE FOR CONCURRENT AUDIT 

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DOWNLOAD UNDERTAKING TO BE GIVEN BY CHARTERED ACCOUNTANT FIRM FOR CONCURRENT AUDIT

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DOWNLOAD Eligibility Criteria for Selection of Concurrent Auditors

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LINK FOR ONLINE APPLICATION FOR VIJAYA BANK CONCURRENT AUDIT FOR FY 2015-15

http://www.vijayabank.com:83/AuditorEmpanelment/Application/Application.aspx

SECRETARIAL STANDARD ON BOARD MEETINGS: MEETINGS OF THE BOARD OF DIRECTORS

Institute of Company Secretaries of India (ICSI) has issued the Secretarial Standard-1 (SS-1) on “Meetings of the Board of Directors” same has been approved by the Central Government. Also note that adherence by a company to this Secretarial Standard is mandatory, as per the provisions of the Companies Act, 2013.

SS-1:Meetings of the Board of Directors are set of principles for convening and conducting Meetings of the Board of Directors and matters related thereto. This Standard is not applicable to One Person Company (OPC) in which there is only one Director on its Board.

  • Any Director of a company may, at any time, summon a Meeting of the Board, and the Company Secretary or where there is no Company Secretary,
  • any person authorised by the Board in this behalf, on the requisition of a  Director, shall convene a Meeting of the Board, in consultation with the Chairman or in his absence, the Managing Director or in his absence, the Whole-time Director, where there is any, unless otherwise provided in the Articles.
  • The Chairman may, unless dissented to or objected by the majority of Directors present at a Meeting at which a Quorum is present, adjourn the Meeting for any reason, at any stage of the Meeting.
  • Time, Place, Mode and Serial Number of Meeting
  • Every Meeting shall have a serial number.
  • A Meeting may be convened at any time and place, on any day, excluding a National Holiday.
  • Any Director may participate through Electronic Mode in a Meeting, if the company provides such facility, unless the Act or any other law specifically does not allow such participation through Electronic Mode in respect of any item of business.
  • Notice in writing of every Meeting shall be given to every Director by hand or by speed post or by registered post or by courier or by facsimile or by e-mail or by any other electronic means.
  • Notice shall be issued by the Company Secretary or where there is no Company Secretary, any Director or any other person authorised by the Board for the purpose.
  • The Notice shall specify the serial number, day, date, time and full address of the venue of the Meeting.
  • In case the facility of participation through Electronic Mode is being made available , the Notice shall inform the Directors about the availability of such facility, and provide them necessary information to avail such facility.
  • The Notice of a Meeting shall be given even if Meetings are held on pre-determined dates or at pre-determined intervals.
  • Notice convening a Meeting shall be given at least seven days before the date of the Meeting, unless the Articles prescribe a longer period.
  • The Agenda, setting out the business to be transacted at the Meeting, and Notes on Agenda shall be given to the Directors at least seven days before the date of the Meeting, unless the Articles prescribe a longer period.
  • Each item of business requiring approval at the Meeting shall be supported by a note setting out the details of the proposal, relevant material facts that enable the Directors to understand the meaning, scope and implications of the proposal and the nature of concern or interest, if any,  of any Director in the proposal, which the Director had earlier disclosed.
  • Each item of business to be taken up at the Meeting shall be serially numbered.
  • Any item not included in the Agenda may be taken up for consideration with the permission of the Chairman and with the consent of a majority of the Directors present in the Meeting, which shall include at least one Independent Director, if any.
  • To transact urgent business, the Notice, Agenda and Notes on Agenda may be given at shorter period of time than stated above, if at least one Independent Director, if any, shall be present at such Meeting. If no Independent Director is present, decisions taken at such a Meeting shall be circulated to all the Directors and shall be final only on ratification thereof by at least one Independent Director, if any. In case the company does not have an Independent Director, the decisions shall be final only on ratification thereof by a majority of the Directors of the company, unless such decisions were approved at the Meeting itself by a majority of Directors of the company.
  • The Board shallmeet at least once in every calendar quarter, with a maximum interval of one hundred and twenty days between any two consecutive Meetings of the Board, such that at least four Meetings are held in each Calendar Year.
  • Committees shall meet as often as necessary subject to the minimum number and frequency stipulated by the Board or as prescribed by any law or authority.
  • Where a company is required to appoint Independent Directors under the Act, such Independent Directors shall meet at least once in a Calendar Year.
  • Quorum shall be present not only at the time of commencement of the Meeting but also while transacting business.
  • A Director shall not be reckoned for Quorum in respect of an item in which he is interested and he shall not be present, whether physically or through Electronic Mode, during discussions and voting on such item.
  • Directors participating through Electronic Mode in a Meeting shall be counted for the purpose of Quorum, unless they are to be excluded for any items of business under the provisions of the Act or any other law.
  • The Quorum for a Meeting of the Board shall be one-third of the total strength of the Board, or two Directors, whichever is higher.
  • Where the number of Directors is reduced below the minimum fixed by the Articles, no business shall be transacted unless the number is first made up by the remaining Director(s) or through a general meeting.
  • The presence of all the members of any Committee constituted by the Board is necessary to form the Quorum for Meetings of such Committee unless otherwise stipulated in the Act or any other law or the Articles or by the Board.
  • Every company shall maintain separate attendance registers for the Meetings of the Board and Meetings of the Committee
  • The attendance  register shall contain the following particulars: serial number and date of the Meeting; in case of a Committee Meeting name of the Committee; place of the Meeting; time of the Meeting; names of the Directors and signature of each Director present; name and signature of the Company Secretary who is in attendance and also of persons attending the Meeting by invitation.
  • Every Director, Company Secretary who is in attendance and every Invitee who attends a Meeting of the Board or Committee thereof shall sign the attendance register at that Meeting.
  • The attendance register shall be maintained at the Registered Office of the company or such other place as may be approved by the Board
  • The attendance register is open for inspection by the Directors.
  • Entries in the attendance register shall be authenticated by the Company Secretary or where there is no Company Secretary, by the Chairman by appending his signature to each page.
  • The attendance register shall be preserved for a period of at least eight financial years and may be destroyed thereafter with the approval of the Board.
  • The attendance register shall be kept in the custody of the Company Secretary.
  • Leave of absence shall be granted to a Director only when a request for such leave has been received by the Company Secretary or by the Chairman.
  • The Chairman of the company shall be the Chairman of the Board. If the company does not have a Chairman, the Directors may elect one of themselves to be the Chairman of the Board.
  •  The Chairman of the Board shall conduct the Meetings of the Board. If no Chairman is elected or if the Chairman is unable to attend the Meeting, the Directors present at the Meeting shall elect one of themselves to chair and conduct the Meeting, unless otherwise provided in the Articles.
  • A member of the Committee appointed by the Board or elected by the Committee as Chairman of the Committee, in accordance with the Act or any other law or the Articles, shall conduct the Meetings of the Committee. If no Chairman has been so elected or if the elected Chairman is unable to attend the Meeting, the Committee shall elect one of its members present to chair and conduct the Meeting of the Committee, unless otherwise provided in the Articles
  • The Chairman of the Board or in his absence, the Managing Director or in his absence, the Wholetime Director and where there is none, any Director other than an Interested Director, shall decide, before the draft Resolution is circulated to all the Directors, whether the approval of the Board for a particular business shall be obtained by means of a Resolution by circulation.
  • Where not less than one-third of the total number of Directors for the time being require the Resolution under circulation to be decided at a Meeting, the Chairman shall put the Resolution for consideration at a Meeting of the Board.
  • A Resolution proposed to be passed by circulation shall be sent in draft, together with the necessary papers, individually to all the Directors including Interested Directors on the same day.
  • The draft of the Resolution to be passed and thenecessary papers shall be circulated amongst the Directors by hand, or by speed post or by registered post or by courier, or by e-mail or by any other recognised electronic means.
  • Each business proposed to be passed by way of Resolution by circulation shall be explained by a note setting out the details of the proposal, relevant material facts that enable the Directors to understand the meaning, scope and implications of the proposal,  the nature of concern or interest, if any,  of any Director in the proposal, which the Director had earlier disclosed and the draft of the Resolution proposed. The note shall also indicate how a Director shall signify assent or dissent to the Resolution proposed and the date by which the Director shall respond.
  • The Resolution is passed when it is approved by a majority of the Directors entitled to vote on the Resolution, unless not less than one-third of the total number of Directors for the time being require
  • the Resolution under circulation to be decided at a Meeting.
  • The Resolution, if passed, shall be deemed to have been passed on the last date specified for signifying assent or dissent by the Directors or the date on which assent from more than two-third of the Directors has been received, whichever is earlier, and shall be effective from that date, if no other effective date is specified in such Resolution.
  • Resolutions passed by circulation shall be noted at the next Meeting of the Board and the text thereof with dissent or abstention, if any, shall be recorded in the Minutes of such Meeting.
  • Passing of Resolution by circulation shall be considered valid as if it had been passed at a duly convened Meeting of the Board.
  • Minutes shall be recorded in books maintained for that purpose.
  • A distinct Minutes Book shall be maintained for Meetings of the Board and each of its Committees.
  • Minutes may be maintained in electronic form in such manner as prescribed under the Act and as may be decided by the Board. Minutes in electronic form shall be maintained with Timestamp.
  • The pages of the Minutes Books shall be consecutively numbered.
  • Minutes shall not be pasted or attached to the Minutes Book, or tampered with in any manner.
  • Minutes of the Board Meetings, if maintained in loose-leaf form, shall be bound periodically depending on the size and volume and coinciding with one or more financial years of the company.
  • Minutes of the Board Meeting shall be kept at the Registered Office of the company or at such other place as may be approved by the Board.
  • Minutes shall state, at the beginning the serial number and type of the Meeting, name of the company, day, date, venue and time of commencement and conclusion of the Meeting.

DOWNLOAD SS 1 FOR BOARD MEETINGS

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Application for Empanelment of Concurrent Auditor for DENA BANK BRANCHES

Dena Bank has issued the tender for Emapanelment/appointment of Concurrent auditor for its branches across India of CA firms. Applications for selection of CA Firms as Concurrent Auditors for the period July 2015 to June 2016 in Dena Bank. Link for online registration will be available at Dena Bank Website from 25/04/2015 at 10.00 AM to 10/05/2015.

Following Chartered Accountants are not eligible : Any form of canvassing / lobbying / influencing / query regarding short listing, status etc will be treated as disqualification. Following CA firms are not eligible for on line registration.

  1. Proprietorship CA firms.
  2. CA firm having less than 5 years existence.
  3. CA firms presently engaged by the Bank as concurrent auditor.
  4. CA firms not having CISA / DISA qualified partners / employees.
  5. CA firms engaged by the Bank as Statutory Auditors
  6. CA firms debarred by ICAI / RBI or blacklisted by the Bank for refusal to conduct any assignment allotted by the Bank during last 3 (Three) years.

Download List of Branches for Dena Bank Concurrent Audit 

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