Last Date : Feb 13, 2017 Application for Empanelment of Concurrent Auditors with Oriental Bank of Commerce
Terms & Conditions for empanelment of Concurrent Auditors
a) Eligibility Criteria
The eligibility criteria shall be as under:-
Depending upon the size of the Branch/Cluster/Office e igibility criteria will be as under:-
|Category of Branch/ Cluster/ Offices/HO Deptts||Category of the CA
firm, assigned by RBI
|Advances above Rs. 500 Crore||I|
|Advances above Rs. 250 Crore & upto Rs. 500 Crore||I/II|
|Advances above Rs. 100 Crore & upto Rs. 250 Crore||I/II/III|
|Advances upto Rs. 100 Crore||I/II/III/IV|
|Service Branch, Depository Cell, HRDI||I/II/III/IV|
|HO Deptts –
Integrated Treasury & Dealing Room, Fund Management Deptt. handling Investment portfolio, HO(MBD), COPEC, Primary Data Centre & Disaster Recovery Site
|HO Deptts –
Accounts, Services, DIT & Reconciliation Deptt
The Bank reserves the right to amend or modify the eligibility criteria as deemed fit to suit its requirement.
Documents to be submitted with the application :-
i) Copy of Registration Certificate issued to the firm by ICAI.
ii) Copy of constitution Certificate issued by ICAI.
iii) Copies of certificate of qualification & experience
The envelope must be superscribed with “APPLICATION FOR EMPANELMENT OF CONCURRENT AUDITORS” & be sent by Registered Post/Speed Post at the following address within 7 days from the date of e_mail
The General Manager(I&C),
Oriental Bank of Commerce,
Inspection & Control Deptt,
2na Floor, Annex Building,
Plot No-5, Institutional Area,
Sector-32, Gurgaon-122 001.
e_mail : firstname.lastname@example.org
Merely meeting the eligibility criteria shall not automatically entitle the Partnership firm/Company for empanelment. After empanelment, the work will be allotted as and when need arises at the sole discretion of the Bank. The empanelment will not give any right to the empanelled firms/companies for carrying out the assignments. The Bank reserves it’s right to cancel any or all the offers without assigning any reason whatsoever. However, in case of non-availability of suitable firm/company at the local centre, the audit firm/company from nearby centre may be assigned the job.
b) Fee Structure
The fee structure is given hereunder:-
i) Fee Structure for Branches(Classic/Udbhav*/LCB/MCB/Forex) & Clusters(MSME/RAG)
|S.No.||Level of Advances||Monthly Fee in Rs.|
|1.||Upto Rs.100 crore||20,000|
|2.||Above Rs.100.00 crore & upto Rs.300.00 crore||25,000|
|3.||Above Rs.300.00 crore & upto Rs.500.00 crore||30,000|
|4.||Above Rs.500.00 crore & upto Rs.1000.00 crore||35,000|
|5.||Above Rs.1000.00 crore & upto Rs.3000.00 crore||40,000|
|6.||Above Rs.3000.00 crore & upto Rs.10000 crore||45,000|
|7.||Above Rs.10000 crore||50,000|
*In case of Udbhav Branches Level of Advances for fee purpose will be decided on the basis of Total Exposure of OGC/OKGC Advances only.
Audit Fee shall be decided based on the level of Advances of branches/clusters as per the period mentioned hereunder:-
|Period of Audit||Level of Advances as on|
|Jan’17 to Mar’17||31.12.2016|
|For FY 2017-18||31.03.2017|
ii) Fee Structure for Departments of HO/Forex-CTC/Offices/Cells
|S.No.||Departments of HO/Offices/Cells||Monthly Fee in Rs.|
|1||Service Branch – Full Time||15,000|
|2||CASA Back Office||20,000|
|4||Integrated Treasury & Dealing Room – Full Time||40,000|
|5||Reconciliation & Draft Accounts Cell – Full Time||15,000|
|6||Depository Service Cell.||30,000|
|8||HO DIT Deptt||20,000|
|9||HO Services Deptt||20,000|
|10||HO MBD Deptt||20,000|
|11||HO Accounts Deptt||20,000|
|12||Primary Data Centre & Disaster Recovery Site||20,000|
The Bank shall pay the Service Tax, as applicable in addition to the fee. This consolidated fee is for audit, certification, etc. as per policy & guidelines of the Bank.
c) Declaration of Fidelity & Secrecy by the Partnership firm/Company
Following documents duly signed by authorised person shall be submitted to HO, I&C Deptt for empanelment of Concurrent Auditor:-
d) Term of Allotment & Performance Review
The allotment of Concurrent Audit of a Branch/Cluster/Department of Head Office/Back Office shall normally be initially for a period of one year. The term may be extended for a further period of two years subject to satisfactory performance to be reviewed annually. The Bank shall always have the right to cancel the allotment, at any time, during the currency of Concurrent Audit.