Empanelment with CAG for audit of Public Sector Undertakings/Statutory Corporations for the year 2012-2013

OFFICE OF THE COMPTROLLER & AUDITOR GENERAL OF INDIA
9, Deendayal Upadhyay Marg ,  New Delhi 110002

General Instructions

Chartered Accountant firms in the country with at least one full time FCA (Partner/Sole Proprietor) as on 1st January 2012 can apply for empanelment with the office of the CAG of India for allotment of audit of Public Sector Undertakings/Statutory Corporations for the year 2012-2013.

The term full time for partner/sole proprietor /CA employee does not include:

i)     A partner/sole proprietor in other firm;

ii)    Employed part time/full time elsewhere, practicing in his own name or engaged in practice otherwise or engaged in any other business/activity which would be deemed to be in practice under section 2 (2) of the Chartered Accountants Act, 1949;

iii)  Partner whose compensation from the firm is less than the prescribed limit as given in the policy of Empanelment and /or not commensurate with the total compensation (share of profit, remuneration and interest on capital etc) paid to the partners during the financial year 2010-2011.   

• The firms who intend to be empanelled with this office need to submit their application online from 1^st January to 15^th February 2012. The information to be given in the application should be the position as on 1^st January 2012.
• Firms that are already empanelled with the CAG’s office need only to modify the information that is already available in the application format for changes if any, reflecting  the status of such firms as on 1st January 2012, as also to indicate whether they continue to be interested in empanelment.
• Firms that are seeking empanelment for the first time should provide information as on 1^st January 2012.
• All applicant firms will be given unique online acknowledgement numbers for the year 2012 and only firms that have generated the online acknowledgement letter for the year 2012 will be considered for empanelment.
• The online data submitted by the CA firms should match with the updated data of the firm available with the Institute of Chartered Accountants of India showing the position as on 1^st January 2012.
• The online form would be available in the website throughout the year for updation of any changes in the constitution of the firm.  It may however be noted that any changes in data occurring after the cut-off date of 15^th February 2012 that lead to reduction in the rank of the applicant firm shall be taken into account up to the time of empanelment.

The firms who have submitted the online application form are required to furnish the following documents, which should reach this office by 31^st March 2012.

(i)         Online acknowledgement letter for the year 2012 generated at the time of filing online application.

(ii)        Statement I: Undertaking signed by the sole proprietors/partners of the firm as per format.

(iii)      Statement II: Signature of CA employees of the firm.

(iv)       Copy of the Income Tax return of the firm along with computation for the assessment year 2011-2012 including distribution of income to partners.

(v)        Income tax return of those CA employees who have joined as partners in the firm during 2010-2011.

(vi)       Copy of the annual accounts of the firm for the financial year 2010-2011 along with schedule indicating the distribution of income among the partners.

(vii)     Copy of the Service tax return filed by the firm for the year 2010-2011.

(viii)    In case of CISA qualified members, copy of the final CISA certificate granted by the “Information Systems Audit and Control Association” after successfully meeting all requirements.

(ix)      Duly filled up check list of the documents as per format. (to be placed on the top).

(x)        Self addressed acknowledgement form for receipt of documents as per format.

The above documents should be addressed to:

Director General (Commercial)-I,

Office of the Comptroller & Auditor General of India,

10, Bahadur Shah Zafar Marg,

New Delhi-110124.

On the top of the envelope containing the documents, the following should be stated:

“Application for empanelment as Auditors of Public Sector Undertakings”

• The documents should be properly tagged and page numbered. This office owns no responsibility for loss of any documents, which are not properly tagged or sent subsequently in piecemeal.
• Only applications complete in all respects will be considered for empanelment. Incomplete application/documents received after the prescribed last date will not be entertained.
• The decision of the Office of the CAG of India in this respect will be final.
• The information submitted by the applicant firms is subject to verification with the details to be provided by the Institute of Chartered Accountants of India and any other organization(s) as may be required.  If any of the information so furnished is later found to be not correct or false or there has been suppression of material information, the firm would stand disqualified from empanelment/allotment of audit for 3 to 5 years and might also be liable for disciplinary action under the Chartered Accountants Act, 1949 and the regulations framed there-under.
• This office reserve the right to inspect the offices of the Chartered Accountant firms empanelled with this office to verify the correctness of the information furnished in the application for empanelment.