- TG Team
- | CA, CS, CMA - Featured- News |
- 05 Jan 2023
- 145,546 Views
- 17 comments
RFP for Appointment of C.A Firm to carry out Concurrent Audit of Branches/CBOs/Other units for – Lucknow Zone Groups I & Lucknow Group II of the Bank
Request for Proposal
Appointment of -1- Chartered Accountant Firm to carry out Concurrent Audits of Branches/CBOs/Other Units for each of the following Zones / Groups of Bank of Baroda namely Lucknow Zone (Group I) & Lucknow Zone (Group II) for -12- months from 01-03-2023 to 28-02-2024
Date: 3rd January 2023
RFP Reference: RFP: CIAD: 115/1
Key Information on the RFP Response Submission:
Request for Proposal (RFP) for Appointment of -1- Chartered Accountant Firm to carry out Concurrent Audits of Branches/CBOs/Other Units for each of the following Zones / Groups of Bank of Baroda Namely, Lucknow Zone Group I & Lucknow Zone Group I for -12- months from 01-03-2023 to 28-02-2024.
| Sr. No. | Particulars | Timeline |
| 1. | RFP Issuance Date | 3rd January 2023 |
| 2. | RFP Co-ordinator Telephone E mail ID | Assistant General Manager IS Audit Department, BCC Mumbai 022-66985284 rfp.isaudit@bankofbaroda.com |
| 3. | Address for Proposal Submission | Assistant General Manager, IS Audit Department 2nd Floor, Baroda Corporate Centre C-26, ‘G’ Block Bandra Kurla Complex, Bandra East Mumbai 400051 |
| 4. | Last Date of Written request for Clarifications | 05.00 PM 16th January 2023 |
| 5. | Pre Bid Meeting | > Pre bid meeting will be held online through Bank’s Online Meeting Platform (i.e. Microsoft Teams) on 17th January 2022 at 03:00 PM.
> Meeting invite link will be sent by the Bank to bidder’s on email IDs provided to join the Online Meeting as per the schedule mentioned above. > Bidder representatives will have to click the Bank provided link (provided in the e-mail) to join the on-line Pre-bid meeting. |
| 6. | Reply to individual Pre–bid query | 05.00 PM 18th January 2023 |
| 7. | Last Date of Submission of RFP Response (Closing Date) | 05.00 PM 24rd January 2022
Address: Assistant General Manager, IS Audit Department 2nd Floor, Baroda Corporate Centre C-26, ‘G’ Block Bandra Kurla Complex, Bandra East Mumbai 400051 |
| 8. | Opening of Eligibility Cum Technical Bid | 11.00 am 25th January 2022
Address: Assistant General Manager, IS Audit Department 2nd Floor, Baroda Corporate Centre C-26, ‘G’ Block Bandra Kurla Complex, Bandra East Mumbai 400051 |
| 9. | Date for presentation | Eligible short-listed bidders will be invited for a presentation on the Technical Proposal at the discretion of the management. Date for the presentation will be communicated to the short-listed bidders. The Bank’s decision is final in this regard. |
| 10. | Opening of Financial Bid | The Financial Proposals of only those who qualify in Technical Proposal will be opened. The date for opening of the Financial Proposal would be communicated separately only to those bidders who are eligible and Technically qualified. |
| 11. | Application Money | INR 20,000/- (Rupees Twenty Thousand Only) |
| 12. | Proposal Security (Earnest Money Deposit or EMD) | INR 50,000/- (Rupees Fifty thousand Only)
By DD/ Pay order payable on Mumbai or by Bank Guarantee issued by Scheduled |
Note: The above dates are tentative and subject to change without any prior notice or intimation. Bidders should check website www.bankofbaroda.in under Tender Section for any changes / addendums to the above schedule and/or any other changes to this RFP. Bank would not be responsible for any delayed/lack of update directly to the bidder. Bidders to confirm with Bank the time and venue -1- day prior to any of the above event.
1. Eligibility cum Technical bids will be opened in the presence of the bidder’s representatives who choose to attend the opening of eligibility cum technical bid. No separate communication shall be sent in this regard. Subsequently, the Bank will evaluate the eligibility cum Technical Bids and the bidders shall be suitably intimated about outcome, after evaluation.
2. Commercial bids will be opened in the presence of the bidder’s representatives, desirous to attend and who are found qualified upon evaluation of the eligibility and technical bid by Bank.
Download Full text of the RFP for Concurrent Auditors Appointment
Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.
Join us on Whatsapp
GROUP LINK
Join us on Whatsapp
GROUP LINK
Join us on Whatsapp
GROUP LINK
Join us on Whatsapp
GROUP LINK
Join us on Whatsapp
GROUP LINK
Join us on Whatsapp
GROUP LINK
Join us on Whatsapp
GROUP LINK
Join us on Whatsapp
GROUP LINK
Join us on Whatsapp
GROUP LINK
Join us on Whatsapp
GROUP LINK
Join us on Telegram
GROUP LINK
Review us on Google
More Under CA, CS, CMA
17 Comments
Leave a Comment
Latest Posts
- Profit margin forgone by assessee could not be held expenditure in creating intangible or goodwill
- Deduction u/s 36(1)(va) available only if employees’ share is deposited by employer before due date
- Indian resident party of the agreement obligatory to meet TDS obligation
- Penalty not payable for service tax not paid on debatable issue
- HC quashes Search Assessment based on unauthorized search
- Appeal cannot be dismissed for delay in filing appeal against an Order not served
- HC directs CIT to consider Stay Application of OYO Hotels
- Delay of 2659 days cannot be condoned for Demise of counsel
- Transport of goods twice on sale e-way bill cannot be alleged on mere presumption
- HC directs consideration of amount paid during inquiry stage under SVLDRS
Popular Posts
- Leaving Audit Trail Is Mandatory For All Companies From 1st April 2023 – Random Thoughts
- How to file TDS Correction Statements on TRACES for FY prior to FY 2011-12?
- Tax planning while setting up of a business with reference to location
- Capital Gain Exemption on Sale of Property Under Section 54F – Landmark Judgements – Part 1
- Audit Trail feature in accounting software from 1st April, 2023
Featured Posts
- Last date for linking of PAN-Aadhaar extended
- Deadline for nominations in trading & demat accounts extended to September 30
- Capital Gain Exemption on Sale of Property Under Section 54F – Landmark Judgements – Part 1
- Why this step motherly treatment for Old Tax Regime followers?
- HC restrained Institute of Cost Accountants from using ‘ICAI’ acronym
We will not participate in this bid. Such bids have no difference with contractors.
No CA will participate in such bids. Unfortunate that, our profession is treated this way.
The statutory branch auditors and central auditors of the bank can report in their LFAR to RBI, that the concurrent audit is not as per RBI directives as qualification in their report. These type of tendered work always subcontracted and there will be no quality work.
CAs cannot participate in this tender as it is violation of ICAI guidelines on participation of tenders that minimum fee is not mentioned in the tender.
Minimum Fee is prescribed in the Tender Document although the same is not Proper.
Icai permits bidding if non CAs are also in ites in the tender
No CAs should respond to these type of advertisements like fee for application EMD etc., Then only this type of advertisements will stop. We cannot depend on Institute for this.
I fully agree with you. Nobody should respond qhere there is application money and EMD for professional service providing.
Banks will get real Concurrent Audit done, if CAs do not apply.
Unfortunately who’s who of the profession are already doing concurrent audit of bank of baroda having being appointed thry a similar process some 3 years ago
Good number of Chartered Accountants /Cost & Management Accountants have retired from Senior Positions in the Banking sector, who are better placed to undertake concurrent audit function. I Hope RBI will seriously consider the matter since Bank’s concurrent activities can be better understood by these retired professional accountants.
For concurrent audit and internal audit CA need not be insisted upon. More knowledge about management and Banking with inquisitive attitude is enough supported by solid experience. Banking sector will improve only when they divorce CA.
RBI New Notification about con-current audit, that ex bankers must involve by bank to consider con-current audit is appreciable. Ex banker knows each & every things about working & Practice of Credit and Operation with Rectifications process also.
i want details of empanelment for stock audit in bank of baroda
The ICAI should take into consideration and guide the professional not to encourage such bids for prof. work
We, the CAs who are in practice, more particularly the Small and Medium firms, can not apply for this. Whether this area will also be taken away from the small firms by the Big Firms?
Quoting fees and allotting to the smallest bidder do not seem to be in good taste and not ethical too.
We are not civil contractors to buy the application and pay EMD.
For reading the proposal itself, the bank has to give an incentive of Rs.20000 instead of asking the auditor to pay application money.
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.
Banks save cost of concurrent auditors on one hand and gives to fraudsters.
Why Not have Concurrent Auditors for Full Financial Year?