Indian Bank INSPECTION DEPARTMENT
Empanelment of Concurrent Auditors
Indian bank is in the process of making a “Fresh Panel” for concurrent auditors. Applications are invited from eligible Audit Firms for empanelment as Concurrent Auditors as below:
Basic criteria for assigning for Concurrent Audits
a) Audit firm must have RBIUCN.
b) An audit firm eligible to be engaged for audit work should have qualified Information System Auditor (CISA / DISA) with necessary exposure to systems audit since all branches are fully computerized and IS audit should form an integral part of the audit.
c) Weightage will be given to the firms where the partners themselves are ex-bankers or the firm has (got tie-up with) ex-bankers with requisite experience and exposure as associates.
d) Any audit firm or any sister / associate concern / network firm conducting the statutory audit of the Bank or any of its branches at present, will not be considered for concurrent audit.
e) Weightage will be given to a firm having exposure in conducting concurrent audit of Bank branches for a few public sector / major private sector banks.
f) The firm should have necessary office set up and adequate personnel to ensure proper deployment and timely completion of the assignments.
Declarations to be submitted by the Audit firms at the time of assignment:
Scope of Audit
Scope of Concurrent Audit is as per RBI and Internal guidelines of the bank, revised from time to time. The scope of Concurrent Audit includes inspection of units, Revenue Audit, Certifying compliance of regulatory guidelines, LFAR etc.
Fee structure at present (As on 01 .04.2016)
|Business position of the branch|
(level as on 31st March of previous financial year)
|Fees per month (Rs)|
|Upto Rs.100 crores||12000|
|Above Rs.100 and upto Rs.250 crores||14000|
|Above Rs.250 and upto Rs.500 crores||15000|
|Above Rs.500 and upto Rs.1000 crores||20000|
|Above Rs. 1000 crores||25000|
|For Special Branches & Departments||11000 to 18000|
In case of need audit firms appointed as concurrent auditors may also be assigned Stock Audit of accounts with other branches.
Interested Chartered Accountant conforming to the eligibility criteria may send their resume as per format given below and to the following address in hard copy to reach us on or before May 13, 2016.
|Name of the CA Firm|
|Unique Code No. for Bank Audit|
|Registration No. of Firm with ICAI|
(self attested copy of ICAI certificate to be enclosed)
|Address of Head Office|
|Name & Mobile No. of partner for contact Landline No/s (with STD Code)|
|Manpower||A) Full time Partners ____|
B) Articles _____
C) Details of Other Audit Staff (mention no. of Ex Bank Officers/ Executives) ____
|No. of Audit Staff having CISA / DISA qualification with names.|
(including proprietor / partner)
|Experience of Concurrent Audit of Nationalized Banks / Major Private Sector Banks (last 5 years)||Bank||Branch||Period|
|Experience of Stock Audit (last 5 years)||Bank||Branch||Account|
|Any other information:|
Those who are presently doing concurrent audit for Indian bank are also required to apply again.
The Bank reserves its right to accept or reject the applications subject to the Banks norms and criteria. The empanelment is not an assurance of assignment of concurrent audit. For clarifications, if any, please contact through email: email@example.com
General Manager (I & C)
254-260, Avvai Shanmugam Salai,
Royapettah, Chennai – 600014