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

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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