Application for Empanelment of Concurrent Auditors with Oriental Bank of Commerce for Corporate Account based in Ludhiana
Oriental Bank of Commerce
Circle Office, Ludhiana
3rd d Floor, 2439/1-2, Dhanraj Complex, Near PAU Gate No. 1 Ferozepur Road, Ludhiana-141001
Appointment of Concurrent Auditor for Corporate Account based in Ludhiana
Application are Invited for appointment of Concurrent Auditor for Corporate Account based in Ludhiana and terms of reference are below:-
Terms of Reference
1. Documentation and compliance of terms and conditions of sanction.
2. Perfection of security as per terms of sanction
3. Important accounting policies having bearing on financial and operational results Compliance with applicable Accounting Standards.
4. Comment on Internal Audit System
5. Status of Payment of Statutory Dues
6. Report on contingent liabilities and its likely impact on financial results of the company
7. Capacity vis-à-vis production/capacity utilization
8.Report on transactions relating to sister/associate/group concern
9. Inventory control system
10. Creditors/Debtors velocity, age of Debtors, quality of debtors, list of major debtors with date of earliest outstanding.
11. Report on non-current/non-business related asset/liabilities
12. Report on conduct of account including non-fund based facilities
13. Drawings vis-a-vis Drawing Power/sanction limit
14. Quality of stock statements and processes involved, comments on its reliability, basis of valuation of stocks
15. Actual results vis-a-vls projections(quarter on quarter change in financials)
16. Comments on slow moving, non moving/obsolete stocks,
17. Transactions routed through bank’s other than Lender/ account with other Banks
18. Sharing of information with other banks as per Performa circulated by Reserve Bank of India for Consortium/Multiple Banking Arrangement accounts.
19. Foreign currency documents as per the contact with the customers to ensure that the contracts are taken up on due dates
20. Compliance of SEBI guidelines in case of listed company and clause 49 adherence.
21. Share holding pattern each quarter and change in management during the period of audit.
Note: You are advised to offer minimum possible charges.
Manager/ Asstt. Ge. Manager/ Dy. Gen. Manager
Circle Office, Ludhiana
Date:- 19.07.2018 Place:- Ludhiana
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