APPOINTMENT OF AUDIT FIRMS FOR CONCURRENT AUDIT OF TREASURY OPERATIONS
State Bank of Patiala, having its Head Office at Patiala is India’s leading Public Sector Bank having all India presence with branch network of over 1141, is interested in engaging an Audit firm of repute and proven track record to carry out the concurrent audit of its Treasury Operations, initially for a period of one year, subject to extension up to 3 years.
The Bank seeks applications from qualified, reputed and competent professional Audit firms primarily fulfilling the following criteria:
i) As on 31.03.2013 the audit firms should have
a. Minimum 8 full time Chartered Accountants, of which
- At least 5 should be full time partners / directors exclusively associated with the firm.
- Out of these 5 partners 2 should have minimum continuous association with the firm for al east 15 years and 3 should have continuous association with the firm at least for 10 years.
- In case of remaining 3 partners, 2 should have a minimum continuous association of 5 years each and 1 with a minimum of one year’s continuous association.
- Four of the partners should be FCAs.
- At least two of the partners should have a minimum 15 years experience in practice.
- In case the paid Chartered Accountant available with the firm without any break was admitted as a partner of the said firm at a future date, his association with the firm as a partner will be counted from the date of his joining the firm as a paid Chartered Accountant.
b. the number of professional staff (excluding typists, stenographers, computer operators, secretary/ies and sub-ordinate staff etc.,), consisting of audit and articled clerks with knowledge in book-keeping and accountancy and are engaged in outdoor audit should be minimum 20.
c. the standing of the firm should be at least 15 years which would be reckoned from the date of availability of one full time FCA continuously with the firm.
d. Should have minimum 3 years experience in Central Statutory Audit of a large public / private sector Bank.
e. Should have handled and completed, in the last 3 years, Audit of Treasury Portfolio of a LARGE SIZE public / private sector Bank in India (minimum Treasury size of Rs 25000 crs).
f. At least one partner / director of the firm / company or its paid Chartered Accountant must possess CISA / ISA qualification.
ii) Should have qualified staff in related activities for understanding the assigned work and competency to perform up to global benchmarks / standards.
iii) Should have full-fledged Offices in Mumbai with complete infrastructure.
iv) Should be aware of recent trends in the Banking and Finance Sector with special emphasis on Treasury Operations (Forex and Indian Rupee)
Firms already empanelled by other Public Sector Banks / having global exposure shall be given preference. Firms complying with the above requirements may submit their application form in attached format in a sealed envelope, by ordinary India Post Mail. Submission of Application in person will not be accepted. Envelop should be marked on the top as ‘Application for Treasury Concurrent Audit’ to the address given below, on or before 10th October before 2:00 p.m.
All pages of the application should necessarily bear rubber stamp of the Audit firm with initials of the authorized official. Incomplete applications or applications received after the aforesaid date will not be considered. Based on the profiles, the Bank will short list Audit firms, which will be invited to make a presentation to an in-house Selection Committee.
The Bank reserves the right to modify the above selection criteria depending on the applications received and Bank’s emerging needs. Bank also reserves the right to accept or reject any or all applications or cancel the whole process without assigning any reason whatsoever. Bank’s decision in this regard will be final. Address for sending Application
Deputy General Manager (Inspection), State Bank of Patiala, Head Office, The Mall, Patiala, Punjab-147001
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Format of Application
For Concurrent Audit of Treasury Operations
(on official letter-head)
The Deputy General Manager (Inspection)
STATE BANK OF PATIALA
HEAD OFFICE,
THE MALL
PATIALA
PUNJAB-147001
Dear Sir,
Application For Appointment As Concurrent Auditors Of Treasury Operations
Please find enclosed information concerning our firm / company for consideration of our firm to carry out Concurrent Audit of your Treasury Operations.
2. We agree to undertake the project, if allotted by you, as per the mutually agreed scope of work. We hereby declare that our firm / company does not have any pecuniary liability or any claim / pending legal proceedings against us or any other cause which hampers our ability to render services as envisaged. If the aforesaid representations / declaration or information in the Annexure(s) is found to be false, the Bank shall be entitled to terminate the engagement / contract and / or initiate suitable action as deemed fit & appropriate.
Date:
Authorized Signatory
(Name- )
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PARTICULARS TO BE FURNISHED FOR THE PURPOSE OF APPOINTMENT
| 1. | Name of the Organization
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| 2. | Address with e-mail
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| 3. | Presence in how many countries
(Provide names of these countries)
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| 4. | Presence in how many towns in India (Provide names of these towns with address)
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| 5. | Year of establishment
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| 6. | Constitution (Company / Firm etc) and Net Worth
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| 7. | Names of the Directors / Partners with Qualification, Experience and No. of years of continuous association with firm.
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| 8. | Name of the chief consultant
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| 9. | Name and address of Bankers.
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| 10. | If Income Tax Assessee, furnish PAN No. and IT clearance Certificate
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| 11. | What are your field activities? Mention the fields in the order of preference.
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| 12. | Details of Whole Bank Audit / Central Statutory Audit done in the past 5 years* | |
| 13. | Number of Qualified Auditors in the firm. (excluding partners / directors listed at item No. 7 above).
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(if any column space is not sufficient, a separate sheet may be used, duly mentioning the column number and description.)
*Where copies of documents are enclosed, the same should be clear Xerox Copies Certified by the concerned Banks.
Authorized Signatory
(Name – )
