Appointment of Concurrent Auditor For each of the following Zones of Bank of Baroda Namely Ahmedabad Zone and Mumbai Zone To carry out Concurrent Audits of Branches/RLBO/CBOs/TFBO/CPC/Other Units For -12- months From 01-10-2018 to 30-09-2019.

Last Date: 03/09/2018

ELIGIBILITY CRITERIA 

  1. One Firm is allowed to bid for one zone only.
  2. If one firm bids for more than one Zone, all the bids of that firm will be
  3. Concurrent Auditors identified for other- 11- Zones excluding Ahmedabad Zone & Mumbai Zone of the Bank are not eligible to apply. (The existing concurrent auditor of the -2- Zones – Ahmedabad Zone & Mumbai Zone are eligible to bid.)
  4. Cut-off date for eligibility criteria is the last date of submission of Bids. If Firm quotes bid price less than the minimum price of RFP the bid of that firm will be rejected.
Sl. Details Support Documents to be submitted
1 The Bidder should be a Chartered Accountancy Firm, registered with ICAI. The Bidder should be a Partnership Firm! Limited Liability Partnership Certificate of Registration with ICAI. Partnership Deed in case of Partnership Firm and Registration Certificate of ROC (for LLPs).
2 The Bidder Firm should be Grade-I as suggested by RBI for Statutory Audit as available on Website www.meficai.org (latest). The latest copy of grade suggested by RBI in the name of the bidder firm for Statutory Audit be submitted. Copy of MEF certificate in the name of the bidder firm be submitted.
3 The Bidder should have carried out (including currently conducting) Concurrent Audit of Branch of minimum of 2 scheduled commercial banks in the last 5 years Letter of engagement in the name of the bidder firm be submitted.
4 The Bidder should have carried out (including currently conducting) Statutory Audit of Branches of scheduled commercial banks in the last 5 years Letter of engagement in the name of the bidder firm be submitted.
5 The Bidder should have minimum of -2- CISA! DISA qualified CA partners! staff CISA! DISA qualified CA partners – copy of CISA! DISA certificate along with membership number of ICAI to be enclosed
6 The Bidder should have Head Office! Branch Office in the Zone* for which they are applying for Concurrent Audit. A self-declaration on the Bidder’s letter head along with details of partners and permanent qualifies staff located in the Zone for which they are applying
7 The Bidder firm should not have been black listed! debarred by any Government Financial Institutions! Banks/ RBI/ ICAI/ IBA/ Government/ Semi Government Departments! PSUs in India A self-declaration on the Bidder’s letter head
8 The Bidder should not be owned or controlled by any Director or Employee of Bank of Baroda, both present and those who have retired in the last two years, or by any of their relatives. Further, the Bidder shall not engage any of the foregoing persons as partners, employees or contractors for any work whether connected with the “Assignment/ Job/ Engagement” nor shall they benefit directly or indirectly from the “Assignment/ Job/ Engagement” in any manner. A self-declaration on the Bidder’s letter head with location.

*Zone means:

For Ahmedabad Zone  – Administrative jurisdiction of Ahmedabad, Gandhinagar Jamnagar, Bhuj, Anand, Mehsana & Rajkot Regions.

For Mumbai Zone – Administrative jurisdiction of Mumbai Metro South,Mumbai Metro North, Mumbai Metro Central &

Date: 9th August, 2018-  RFP Reference: RFP: CIAD: 110/2

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4 responses to “Bank of Baroda invites RFP for Concurrent Auditors Appointment”

  1. PADMANABHAN PRAKASH & CO says:

    For reading the proposal itself, the bank has to give an incentive of Rs.20000 instead of asking the auditor to pay application money.

  2. Ashok Shah says:

    RBI has done away with appointing independent auditor function of its. It has delegated this job to Bank’s Management. Branches below 20 crores advances are not subject to audit. They are trying to save money by reducing audit function. Result is now out. Saved penny and made foolish by pound. I mean penny wise pound foolish. Hope better sense will prevail on RBI as well as Ministry of Finance. Ignorant of this ground reality, Mr. Modi Slammed CAs in his speech there by unintentionally becoming tool to tarnishing image of CA in the eyes of public across not only nation but the World at large. Shameful things for both.

  3. VINOD KUMAR AGARWAL says:

    Banks save cost of concurrent auditors on one hand and gives to fraudsters.

  4. Babubhai Vaghela 9427608632 says:

    Why Not have Concurrent Auditors for Full Financial Year?

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