Empanelment of Audit Firms for Concurrent Audit in Corporation Bank

Posted on    04 June 2019

Request for Empanelment (RFE)

Corporation Bank hereinafter referred to as the Bank, invites sealed technical offers for Selection of Concurrent Auditors for audit of the Branches / Offices of the Bank listed in Annexure I. The details are given below:

Schedule of Requirements

The Bank intends to appoint Concurrent Auditors by engaging Audit Firms by calling for application online.

The eligibility criteria for submission of applications:

1. The Firms shall be Partnership firms. However, The Bank may also consider Proprietorship firms wherever Partnership firms are not available.

2. The Firm should have partners who have CISA/DISA qualification in addition to having completed a Course on Concurrent Audit of Banks conducted by ICAI.

3. The Firm should have been registered with the Institute for practice as well as with the Reserve Bank of India.

4. Firms with common partners should not submit applications separately. Such Firms should submit application on behalf of only one firm.

5. The Firms that submit their applications should not have been blacklisted by any of the Banks for any reason.

6. The Firm, sister concern or any associate concern shall not be doing Statutory audit of the Bank.

7. The Firms that are presently doing Concurrent Audit of branches of Corporation Bank as well as working as Due Diligent agents are not eligible to apply.

8. The Firm should not have any credit relationship with the Bank other than borrowings against their own deposits / jewels.

9. The firms should not be subject to any of the disqualifications under Section 141 of the Companies Act, 2013 for being appointed as External Concurrent Auditors of Corporation Bank.

10 The Firm should have sufficient infrastructure / office in the Centre where the assignment is sought.

11 Whenever any of the partner of the Firm is related to any of the staff or director of the Bank such relationship shall be specifically mentioned in the application.

12 The Audit Firms, before applying, should consider the distance to the branch from their Office and their manpower vis-à-vis the assignments on their hands.

To read more in details, find the enclosed attachment

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