Empanelment for Concurrent Audit with Union Bank of India

Union Bank Of India
Audit & Inspection
e-Andhra Bank Building, 4th Floor, Sultan Bazar, Koti, Hyderabad-500095
Phone: 040-24683107/3103, email : co-insp@unionbankofindia.com

Empanelment of Concurrent Auditors

1. Invitation for empanelment

1.1. Union Bank of India had conducted the process for Empanelment of Concurrent Auditors, in the month of February 2020. This document is being published as a part of addendum process for Empanelment of Concurrent Auditors for the FY 2020-21.

1.2. Consequent upon the amalgamation of erstwhile Andhra Bank and erstwhile Corporation Bank with Union Bank of India, Concurrent Auditors are required to be appointed for some Branches/Units of amalgamated entity i.e. Union Bank of India. Hence, Union Bank of India invites applications in the prescribed format from practicing firms of Chartered Accountants who are willing to have their firm empanelled as Concurrent Auditor with Union Bank of India for Branches/Units in select districts ( As per list provided in Annexure – I). Only one application should be submitted ONLINE. No other mode of application will be entertained.

1.3. This supplementary empanelment would be valid up to 31^st March 2021 and shall be utilised for allotting the branches/units in select districts as being offered in this document. Applicant has the option to give preferences for districts under which select branch/es is/are located. Hence, Bank may presume that by giving a district preference, CA firm gives its consent to carry out concurrent audit at any of the select branches falling under the opted district. However, the Bank reserves the right to allot any Branch/unit in other districts also, where the firm is having Office and willing to take up the assignment. The Bank may allot the Concurrent Audit assignment during empanelment period as and when there is a requirement.

1.4. APPLICATION FORMS NEED NOT BE PRINTED AND SENT TO THE BANK. OLD SYSTEM OF FORWARDING PRINTED APPLICATION ALONGWITH CERTIFICATES AT THE TIME OF ONLINE SUBMISSION TO BANK HAS BEEN DISPENSED WITH. HOWEVER, IT IS MANDATORY FOR APPLICANT TO SUBMIT DULY SIGNED APPLICATION FORM AND OTHER RELEVANT DOCUMENTS AS AND WHEN ADVISED BY THE BANK.

1.5. Last date for filing of Online Application is 02.10.2020, before 5.00 PM.

1.6. Mere submission of application does not, in any way, constitute any right for allotment of any audit job from the Bank. After empanelment, the work will be allotted as and when need arises at the sole discretion of the Bank.

2. Eligibility Criteria

Sl No.	Criteria
1	Firm should be a partnership firm of Chartered Accountants.
2	Firm should be Registered with ICAI having Registration number
3	Firm should be Registered with RBI having Unique Code Number
4	The Firm should have as partner/s Chartered Accountant/s who have undergone the “Certificate Course on Concurrent Audit of Banks” conducted by ICAI.
5	The firms should have as partner/s qualified Information System Auditor (CISA/DISA) with necessary exposure to systems Audit.
6	Preference will be given to firms where the partners themselves are ex-Bankers or the firm has got tie-up with ex-Bankers or has ex-Bankers as its employee, with requisite experience and exposure.
7	The firm should have necessary office set-up and adequate personnel to ensure proper deployment and timely completion of assignments.
8	Firms with common partners should not submit applications separately. Such Firms should submit application on behalf of only one firm.
9	Auditing and Reporting is to be mandatorily done through on line Web Based Audit Management Solution (eTHIC Package) and hence Concurrent Auditor and audit assistant should be computer literate.
10	The Firm should not have any credit relationship with the Bank/branch other than borrowings against their own deposits/jewels.
11	The firm should not be subject to any of the disqualifications under Section 141 of the Companies Act, 2013 for being appointed as External Concurrent Auditors in our bank.
12	Whenever any of the partner of the Firm is related to any of the staff or director of the Bank, such relationship shall be specifically mentioned in the application.

3. The following type of Audit firms are not eligible to participate for empanelment process:

i) If Firm / any partner has been disqualified / de-empanelled or whose appointment has been terminated by RBI/ ICAI/ Bank / any other Bank on an earlier occasion.

ii) The Audit firm or its associate concerns should not be conducting Statutory / Concurrent Audit of Union Bank of India/erstwhile Andhra Bank/erstwhile Corporation Bank or any of its Branches. The Audit firm or its associate concern, whose Statutory Audit term is yet to expire may apply for Concurrent Audit empanelment provided concerned Audit firm or its associate concern sacrifices the Statutory Audit assignment.

“Associate concerns means any corporate body or partnership firm wherein the proprietor and/or partner(s) of the Statutory Audit firm and/or their relative(s) is/are Directors or partners and/or jointly or severally hold 20% or more of the interest in the corporate body or partnership.

“Relative” for this purpose will mean the spouse or any lineal ascendant or descendant of the proprietor or partner of the Statutory Audit firm.”

iii) Any canvassing, influence or reference to appointment of audit firms will render the application invalid.

4. Evaluation of CA firm for allotment of Concurrent Audit

4.1. The CA firm will be evaluated based on the following parameters

i) Eligibility criteria as mentioned above.

ii) Preference will be given to Audit firm having office in the same centre as that of Auditee Branch.

iii) Experience of Concurrent Audit with Union Bank of India and/or Other Public Sector Bank.

iv) Weightage will be given to firms where the partners themselves are ex-Bankers or the firms has got tie-up with ex-Bankers/or has ex-Bankers as employees with requisite experience and exposure.

v) Efforts will be made to allot the branches to the CA firms based on minimum category suggested by RBI and Internal Concurrent Audit Policy of Bank. However, in case CA firm of requisite category is not available in particular location, then Bank will select suitable CA firm either from lower or higher category.

Regarding appointment of Concurrent Auditors from RBI panel as per gradation based on Advances position of Branch, it is proposed to allot Branches to Concurrent Auditors as under:

Sr. No.	Grade of Auditor	Branches to be allotted for Concurrent Audit.	Suggested level of advances of the Branch
i.	I	Premier Branches, Exceptionally Large Branches (ELBs),Exceptionally Large (Lite) Branches (ELB Lites), Very Large Branches (VLBs), Very Large (Lite) Branches (VLB Lites), Overseas Branches, Treasury, Management Audit of CA&ID, Audit for Outsourced activities of various CO Verticals, ATM Division & Credit Card Division, Data Centre Process Audit,	Rs. 125.00 Crores and above
ii.	II	Large Branches	Rs.50.00 crores to Rs.125.00 crores
iii.	III	Medium and Small Branches, Service Branches, CMS Branches, CO Verticals etc, Any other Branch not covered above,	Below Rs.50.00 Crores
iv.	IV	SARALs & SARAL Lites, ULPs, USKs, e-Focal branch,	Irrespective of level of advances

4.2. Merely meeting the eligibility criteria shall not automatically entitle the CA firm for empanelment. After empanelment, the work will be allotted as and when need arises at the sole discretion of the Bank. The empanelment will not give any right to the empanelled firm for carrying out the assignments. The Bank reserves its right to cancel any or all the offers without assigning any reason whatsoever.

5. Terms and Conditions

5.1. At any one point of time, not more than one audit assignment shall be awarded to single firm. An audit assignment that needs to be carried out across branches/units at different locations shall be considered as a single assignment for this purpose. Hence the existing Concurrent Auditors who have not completed three years tenure as Concurrent Auditor at the present branch/office of Union Bank of India/erstwhile Andhra Bank/ erstwhile Corporation Bank are not eligible to apply. CA firms may apply during cooling period. However their application shall be considered only after completion of cooling period of one year. Cooling period for auditors who refuse Bank’s offer or cease to continue the Concurrent Audit assignment before expiry of its tenure without cogent reasons will be three financial years.

5.2. Concurrent Auditors shall not undertake any other activities on behalf of the branch without obtaining concurrence of Audit & Inspection Department in writing.

5.3. The firm shall execute undertaking of fidelity and secrecy on its letterhead in the format prescribed by Bank.

5.4. In order to avoid conflict of interest, an undertaking shall be obtained from the Concurrent Auditors that they do not have any professional or commercial relationship with the borrowers of the Branch/Department which they are auditing.

5.5. The Concurrent Auditor shall sign the Do’s & Don’ts statement in order to have proper arms length relationship with the Branch / Department of which they are conducting Audit.

5.6. A declaration shall be furnished by the firm that credit facilities availed by the firm or partners or firms in which they are partners or directors including any facility availed by a third party for which the firm or its partners are guarantors have not turned or are existing as non-performing assets as per prudential norms of RBI. In case the declaration is found incorrect, the assignment shall get terminated besides the firm being liable for any action under ICAI / RBI guidelines.

5.7. All necessary certificates including quarterly, half-yearly, annual closing of Book of Accounts that need to be given by audit firm as a part of Concurrent Audit assignment shall be given under its letterhead without any additional certification fee.

5.8. A detailed checklist and other latest operating guidelines, view ID, required Menus for verification of details shall be provided to the Concurrent Auditors.

5.9. Appointment of Concurrent Audit shall be purely at discretion of the Bank and no rights whatsoever accrue to the firm for such appointment.

5.10. Audit firms shall submit monthly/quarterly/half-yearly reports in structured formats within stipulated period i.e. within 10 days of the completion of month /quarter /half-year. Any persistent delay shall be viewed negatively at the time of review of the CA firm & Bank also reserves the right to levy penalty as specified hereunder :

Delayed submission of reports will be viewed seriously and a penalty of 10% will be deducted if the report is submitted after 10^th but before 20^th of the next month to which the report pertains. In case the report is submitted after 20^th but before the end of the month a penalty of 20% will be deducted from the fees payable.

5.11. Bank shall monitor the performance of audit firms closely. Performance of the Firms shall be evaluated monthly for their quality and coverage of reporting (Refer to Annexure – II). In case, CA firm is not attending audit work properly, continuous delay in submission of reports, non-reporting of serious irregularities/deviations, non-detection of fraud, non-detection of Leakage of income in branches where they are conducting Concurrent Audit, Bank reserves the right to terminate the assignment, without assigning any reason by giving 7 days notice. In case of termination of assignment, the remuneration for the incomplete month shall not be payable by the Bank. Moreover, the firm shall be debarred from empanelment for three financial years.

5.12. Similarly, the CA firm may terminate the Agreement of Concurrent Audit assignment with one month prior notice. In such case too, the remuneration for the incomplete month shall not be paid by the Bank. However, as far as possible, the CA firm shall complete the Audit for the month including submission of Report for the month, before effecting its termination. Cooling period for such termination cases will be three financial years, if the same is without any cogent reasons.

5.13. Concurrent Auditors shall not be permitted to mobilize any credit related proposals for any of the Branches of the Bank during the tenure of their assignment

5.14. The Firm should undertake that they will not subcontract the audit assignment.

5.15. As per the extant Concurrent Audit Policy, appointment of Concurrent Auditors will be made initially for a period of one year. The term may be extended, solely at the discretion of the Bank, for a further period of two (1+1) years on receiving satisfactory feedback from Auditee Branch/Unit and respective Zonal Audit office about their overall performance. A cooling period of 1 year shall be given after completion of three years of audit.

5.16. Bank conducts review/renewal process of Concurrent Audit assignment and appointment of new Concurrent Auditors as of March and September every year. However if an auditor is assigned with the Concurrent Audit in between as per the exigencies of Bank the initial tenure shall be only for the remaining period either up to March or September as the case may be. For example if the assignment is made during the month of May, it shall be reviewed for second year by next year March. Likewise if the assignment is made during November it shall be renewed for second year by next year September itself and for a further period of two (1+1) years as of March and September based on the performance feedback received from Auditee Branch and respective Zonal Audit office.

5.17. If the Branch under Concurrent Audit is closed / merged or removed from Concurrent Audit due to official exigencies and for any other reasons whatsoever, the tenure of the Concurrent Auditor of that Branch will stand terminated automatically. In such cases Bank will not be liable to give alternate Branch for audit to the CA firm whose Concurrent Audit assignment is so terminated.

5.18. On change of identity / change of firm name, during the currency of audit term, due to merger / amalgamation / reconstitution / any other reason, the Bank reserves it’s right to allow the new firm to continue with the Concurrent Audit assigned to the old firm provided the new firm fulfils all the eligibility criteria given in our tender document.

5.19. The Bank reserves its discretion to accept or reject the application of any Firm based on the guidelines issued by the regulators or by the Bank.

5.20. The applicants shall opt for the Centre wherever they have their own offices with a minimum of one qualified partner/2 Chartered accountants.

5.21. The Firms shall provide the particulars of assignments currently at hand in the column provided in the application form. The allotment will be done based on the number of qualified personnel available and the current assignments in hand. In case the Bank feels that it will be difficult for the firm to undertake the work, then that firm will not be considered for allotment of concurrent audit.

5.22. Application which is incomplete is liable to be rejected.

5.23. Bank reserves its right to maintain a separate panel of Audit Firms for undertaking specialized audits viz., Forex, Risk Management, System Audit etc., from the applications received in present process. Audit Firms are advised to indicate their specialization/qualifications of auditing for these specific areas.

5.24. The Audit firms allotted with the audit of branches that are designated to carry out Forex business should have necessary expertise to carry out the audit of Forex operations with adequate earlier experience of auditing such branches.

6. Documents to be submitted alongwith the application as and when requested by Bank.

6.1. CA firms shall scan and upload following documents, only after receiving intimation from the Bank. All enclosures must be self attested as true copy under seal by the partners.

i) Duly filled and signed application downloaded from website by entering the required information.

ii) Copies of certificate of experience / appointment letters of Concurrent Audit etc., in relation to similar assignment performed elsewhere, if any.

iii) Copy of Registration Certificate issued to the firm by ICAI.

iv) Copy of Certificate issued by ICAI of having completed “Course on Concurrent Audit of Banks” conducted by ICAI.

v) Copy of certificate of CISA / DISA.

vi) Copy of letter from RBI on allotting Unique Code No.

vii) Due Diligence of staff/employees. (Annexure – B)

viii) Letter of confirmation regarding non-disqualification of audit firms/Consultant. (Annexure – C)

ix) Do’s & Don’ts. (Annexure – D)

x) Declaration of Fidelity & Secrecy. (Annexure – E)

xi) Undertaking shall be obtained from the Concurrent Auditors that they do not have any professional or commercial relationship with the borrowers of the Branch/Department where they are auditing. (Annexure – C)

xii) Undertaking shall be obtained from the Concurrent Auditor that none of the credit facilities availed by the firm or any of its partners are declared as NPAs with any Bank.(Annexure – C)

6.2. The allotment is subject to verification of correctness of the documents. The Bank reserves the right to cancel/terminate the allotment at any point of time if the information/documents submitted are found to be incorrect. In such cases of termination, the cooling period will be three financial years.

7. Payment and Fees:

7.1. No out of pocket expenses or travelling allowance/halting allowance shall be paid to the Concurrent Audit firms for carrying out the assignment. However GST shall be paid as applicable from time to time in addition to basic fees.

7.2. The Concurrent Auditors shall be reimbursed actual out of pocket expenses incurred in connection with travel involved for conducting Inspections.

7.3. Payment to Concurrent Auditors shall be subject to deduction of tax at source at applicable rates.

7.4. All necessary certificates that need to be given as part of Concurrent Audit assignment shall be given by the audit firm without any additional certification fee.

7.5. Fees payable to Concurrent Auditors is based on the level of advances as of previous quarter ending in case of branches. Advances position as of December and June quarter ending shall be taken into account for fixation of fees while assigning the Concurrent Audit assignment during or after March and September respectively. However, in case of specialized units it is consolidated fee payable as mentioned below ( Applicable GST will be paid extra.):

Level of Advances and No. of Cash Credit A/cs in Standard category	Fee structure for Concurrent Audit
Advances above Rs.22500 Crores a) More than 50 accounts b) upto 50 accounts	Rs.50000/- Rs.42500/-
Advances above Rs.7500 crores upto Rs. 22500 Crores a) More than 50 accounts b) upto 50 accounts	Rs.42500/- Rs.35000/-
Advances above Rs.500 crores upto 7500 Crores a) More than 50 accounts b) upto 50 accounts	Rs.35000/- Rs.30000/-
Advances above Rs. 100 crores upto Rs.500 crores a) More than 50 accounts b) upto 50 accounts	Rs.32,500/- Rs.25000/-
Advances upto Rs.100 crores	Rs.25000/-
Specialised/other Units
Treasury	Rs. 50,000/-
Data Centre Process Audit	Rs. 30,000/-
ATM Division& Credit Card Division	Rs. 30,000/-
Service Branches	Rs. 20,000/-
CMS Division	Rs. 15,000/-
Vostro Branch	Rs. 15,000/-
Centralised processing Units such as SARALs, ULPs, USKs, NPC etc	Rs. 15,000/-
Various Departments in Central Office like CCD, SSD, TBD etc.	Rs. 15,000/-

7.6. The Concurrent Audit fees once fixed shall remain the same till next renewal of the Concurrent Audit assignment irrespective of the level of Advances thereafter. The only exception may be in case of transfer/shifting of entire advances of another branch to the auditee branch. Bank decision will be final in this regard.

8. Conduct and Performance Monitoring

8.1. Each Branch / Audit Unit shall identify Nodal Officer as a single point contact for coordinating the Concurrent Audit work.

8.2. Respective Zonal Audit Office shall provide the Concurrent Auditor with requisite initial information of the branch activities and further support to conduct audit.

8.3. Minor irregularities pointed out by Concurrent Auditors are to be rectified on the spot. The Branch should ensure rectification of deficiencies without any loss of time so as to achieve the very purpose of Concurrent Audit.

8.4. Pending issues of previous reports shall be mentioned as persisting irregularities / deficiencies in the subsequent reports.

8.5. A formal wrap up discussion with the Branch / Units shall be arranged before submission of report by the Concurrent Auditor. In case of any difficulty in interpretation of existing guidelines of the Bank by the Branch/Concurrent Auditor, the same shall be referred to the Controlling Office/Concerned Zonal Audit Office before finalization of the report.

8.6. Quality of compliance with the Concurrent Audit reports shall be covered and commented upon by Internal Auditors.

8.7. Zonal Audit Office shall ensure that deficiencies pointed out in the Concurrent Audit reports are rectified and the Audit Reports are closed within one month of submission. Regional Offices shall be responsible for follow up with Branches to ensure compliance.

8.8. Zonal Audit Office shall interact with Concurrent Auditors at least once in a quarter.

8.9. The Bank reserves its right to review the appointment at any point of time and if necessary, can cancel the appointment.

8.10. In case the firm fails to report serious irregularities / high value income leakage, Bank reserves right to report the matter to RBI / ICAI / IBA and initiate appropriate action. Such firms will be de-empanelled/black listed and they will not be eligible for assignment of audit work with Bank for next five years. Concurrent Audit has very important role in identifying System lapses, irregularities of every type, income leakage, ensuring compliance of terms of sanction for advances, detecting frauds, pointing out symptoms of sickness in time, etc.

8.11. Quality of Concurrent Audit is reflected in reducing number of irregularities, absence of persisting irregularities as RBI envisages that Auditor should also educate staff about hazards of deviation from Systems and Procedures.

8.12. If Concurrent Audit is effective, it should also result in up gradation of the Branch in annual inspection and / or maintaining higher-level ratings obtained ( Low – Medium risk under RBIA)

8.13. If the RBIA rating of the Branch is downgraded, the performance of the Concurrent Auditor shall be critically examined and reviewed for deciding continuance of service or otherwise.

8.14. If the Concurrent Auditor fails to detect and report irregularities/deviations from laid down policies/norms, his services are liable to be terminated.

8.15. If the Concurrent Auditor fails to attend the Branch on day-to-day basis or the attendance of the Partner of the firm is found to be poor, his services are liable to be terminated.

***********END OF DOCUMENT*************

Annexure – I

List of Branches along with Details of State / District

NAME OF THE BRANCH	DISTRICT	STATE
DHARMAVARAM	ANANTAPUR	ANDHRA PRADESH
RAMNAGAR	ANANTAPUR	ANDHRA PRADESH
VEPULAPARTY	ANANTAPUR	ANDHRA PRADESH
PEDDAVADUGURU	ANANTAPUR	ANDHRA PRADESH
TADIPATRI	ANANTAPUR	ANDHRA PRADESH
ANANTHAPUR-(E-CB)*	ANANTAPUR	ANDHRA PRADESH
RAYADURG	ANANTAPUR	ANDHRA PRADESH
ANANTHAPUR (E-AB) *	ANANTAPUR	ANDHRA PRADESH
CHITTOOR	CHITTOOR	ANDHRA PRADESH
TTD ADMINISTRATIVE BUILDING	CHITTOOR	ANDHRA PRADESH
S V MEDICAL COLLEGE TIRUPATHI	CHITTOOR	ANDHRA PRADESH
KHADI COLONY, TIRUPATI	CHITTOOR	ANDHRA PRADESH
CHITTOR	CHITTOOR	ANDHRA PRADESH
TIRUPATI	CHITTOOR	ANDHRA PRADESH
YERPEDU	CHITTOOR	ANDHRA PRADESH
AIR BYPASS ROAD BRANCH, TIRUPATHI	CHITTOOR	ANDHRA PRADESH
CINEMA ROAD,KAKINADA	EAST GODAVARI	ANDHRA PRADESH
GOLLAMAMIDADA	EAST GODAVARI	ANDHRA PRADESH
KADIAM	EAST GODAVARI	ANDHRA PRADESH
MANDAPETA	EAST GODAVARI	ANDHRA PRADESH
PRAKASHNAGAR	EAST GODAVARI	ANDHRA PRADESH
RANGAMPET	EAST GODAVARI	ANDHRA PRADESH
MALLISALA	EAST GODAVARI	ANDHRA PRADESH
KATHIPUDI	EAST GODAVARI	ANDHRA PRADESH
YANAM	EAST GODAVARI	ANDHRA PRADESH
INNISPETA	EAST GODAVARI	ANDHRA PRADESH
KAKINADA MAIN	EAST GODAVARI	ANDHRA PRADESH
MADHAVNAGAR	EAST GODAVARI	ANDHRA PRADESH
RAYAVARAM	EAST GODAVARI	ANDHRA PRADESH
DICTRICT COLLECTORATE BRANCH	EAST GODAVARI	ANDHRA PRADESH
ARUNDELPET, GUNTUR	GUNTUR	ANDHRA PRADESH
CHILAKALURIPET	GUNTUR	ANDHRA PRADESH
GULLAPALLI	GUNTUR	ANDHRA PRADESH
GURAZALA	GUNTUR	ANDHRA PRADESH
RAMIREDDIPET	GUNTUR	ANDHRA PRADESH
IPURU	GUNTUR	ANDHRA PRADESH
BHRUGUBANDA	GUNTUR	ANDHRA PRADESH
KOLLURU	GUNTUR	ANDHRA PRADESH
MANGALAGIRI	GUNTUR	ANDHRA PRADESH
OLD GUNTUR	GUNTUR	ANDHRA PRADESH
RENTACHINTALA	GUNTUR	ANDHRA PRADESH
RAJUPALEM	GUNTUR	ANDHRA PRADESH
TYALLUR	GUNTUR	ANDHRA PRADESH
SME BRANCH, GUNTUR	GUNTUR	ANDHRA PRADESH
LAXMIPURAM, GUNTUR	GUNTUR	ANDHRA PRADESH
PATTABHIPURAM	GUNTUR	ANDHRA PRADESH
GUDIVADA	KRISHNA	ANDHRA PRADESH
KAIKALURU	KRISHNA	ANDHRA PRADESH
PENUGOLANU	KRISHNA	ANDHRA PRADESH
PENAMALURU	KRISHNA	ANDHRA PRADESH
VIJAYAWADA-BENZ CIRCLE	KRISHNA	ANDHRA PRADESH
MACHILIPATNAM- FOUNDERS	KRISHNA	ANDHRA PRADESH
GOVERNERPETH	KRISHNA	ANDHRA PRADESH
ADONI	KURNOOL	ANDHRA PRADESH
BANGANAPALLI	KURNOOL	ANDHRA PRADESH
NANDYAL	KURNOOL	ANDHRA PRADESH
NARASINGARAOPET	KURNOOL	ANDHRA PRADESH
PERUSOMULA	KURNOOL	ANDHRA PRADESH
BETAMCHERLA	KURNOOL	ANDHRA PRADESH
PARK ROAD – KURNOOL	KURNOOL	ANDHRA PRADESH
VIGNANA MANDIR VIDYALAYA, KURNOOL	KURNOOL	ANDHRA PRADESH
SRINIVASANAGAR -NANDYAL	KURNOOL	ANDHRA PRADESH
KURNOOL	KURNOOL	ANDHRA PRADESH
EAST GANGAVARAM	PRAKASAM	ANDHRA PRADESH
SINGARAYAKONDA	PRAKASAM	ANDHRA PRADESH
ONGOLE	PRAKASAM	ANDHRA PRADESH
DUTTALUR	SPSR NELLORE	ANDHRA PRADESH
KAVALI (E-AB)*	SPSR NELLORE	ANDHRA PRADESH
VENKATAGIRI, NELLORE DT	SPSR NELLORE	ANDHRA PRADESH
ATMAKUR	SPSR NELLORE	ANDHRA PRADESH
MULAPET	SPSR NELLORE	ANDHRA PRADESH
VR COLLEGE	SPSR NELLORE	ANDHRA PRADESH
GUDUR	SPSR NELLORE	ANDHRA PRADESH
A K NAGAR	SPSR NELLORE	ANDHRA PRADESH
KAVALI (E-CB)*	SPSR NELLORE	ANDHRA PRADESH
DARGAMITA	SPSR NELLORE	ANDHRA PRADESH
SARAL-LITE NELLORE	SPSR NELLORE	ANDHRA PRADESH
NAIDUPET	SPSR NELLORE	ANDHRA PRADESH
GANGUVARISIGADAM	SRIKAKULAM	ANDHRA PRADESH
KASIBUGGA	SRIKAKULAM	ANDHRA PRADESH
NARASANNAPETA	SRIKAKULAM	ANDHRA PRADESH
VEERAGHATTAM	SRIKAKULAM	ANDHRA PRADESH
WOMEN’S BRANCH, SRIKAKULAM	SRIKAKULAM	ANDHRA PRADESH
RAJAM	SRIKAKULAM	ANDHRA PRADESH
SANCHAM	SRIKAKULAM	ANDHRA PRADESH
NARSIPATNAM	VISAKHAPATNAM	ANDHRA PRADESH
PORT BRANCH	VISAKHAPATNAM	ANDHRA PRADESH
SARM, VIZAG	VISAKHAPATNAM	ANDHRA PRADESH
CHODAVARAM	VISAKHAPATNAM	ANDHRA PRADESH
STEEL PLANT TOWNSHIP, VISHAKHAPATNAM	VISAKHAPATNAM	ANDHRA PRADESH
M.V.P. COLONY	VISAKHAPATNAM	ANDHRA PRADESH
G I M S R	VISAKHAPATNAM	ANDHRA PRADESH
ATTILI	WEST GODAVARI	ANDHRA PRADESH
CHAGALLU	WEST GODAVARI	ANDHRA PRADESH
CHINTALAPUDI	WEST GODAVARI	ANDHRA PRADESH
DNR COLLEGE BHIMAVARAM	WEST GODAVARI	ANDHRA PRADESH
GANAPAVARAM	WEST GODAVARI	ANDHRA PRADESH
GOLLAVANITIPPA	WEST GODAVARI	ANDHRA PRADESH
BAYYANNAGUDEM	WEST GODAVARI	ANDHRA PRADESH
JANGAREDDYGUDEM	WEST GODAVARI	ANDHRA PRADESH
KOVVUR	WEST GODAVARI	ANDHRA PRADESH
KAMAVARAPUKOTA	WEST GODAVARI	ANDHRA PRADESH
NARASAPUR, W G DIST	WEST GODAVARI	ANDHRA PRADESH
PRAGADAVARAM	WEST GODAVARI	ANDHRA PRADESH
TANUKU	WEST GODAVARI	ANDHRA PRADESH
VUNDRAJAVARAM	WEST GODAVARI	ANDHRA PRADESH
LAKKAVARAM	WEST GODAVARI	ANDHRA PRADESH
PERUPALEM	WEST GODAVARI	ANDHRA PRADESH
RANGAPURAM	WEST GODAVARI	ANDHRA PRADESH
T NARSAPURAM	WEST GODAVARI	ANDHRA PRADESH
DOOBACHERLA	WEST GODAVARI	ANDHRA PRADESH
ELURU	WEST GODAVARI	ANDHRA PRADESH
BHEEMAVARAM	WEST GODAVARI	ANDHRA PRADESH
AKIVIDU	WEST GODAVARI	ANDHRA PRADESH
KOVVALI	WEST GODAVARI	ANDHRA PRADESH
VENKATRAYAPURAM	WEST GODAVARI	ANDHRA PRADESH
UNDI	WEST GODAVARI	ANDHRA PRADESH
PRODDUTUR	YSR KADAPA	ANDHRA PRADESH
MYDUKUR	YSR KADAPA	ANDHRA PRADESH
KADAPA (E-CB)*	YSR KADAPA	ANDHRA PRADESH
KADAPA (E-AB)*	YSR KADAPA	ANDHRA PRADESH
PULIVENDULA	YSR KADAPA	ANDHRA PRADESH
PONDA	NORTH GOA	GOA
CALANGUTE-GOA	NORTH GOA	GOA
MARGAO	SOUTH GOA	GOA
SHIRWAI AMONA	SOUTH GOA	GOA
JAMAKHANDI	BAGALKOT	KARNATAKA
BAGALKOT	BAGALKOT	KARNATAKA
CHIKKODI	BELAGAVI	KARNATAKA
ATHANI	BELAGAVI	KARNATAKA
BELGAUM SAMDEVI GALLI	BELAGAVI	KARNATAKA
YADWAD	BELAGAVI	KARNATAKA
GOKAK	BELAGAVI	KARNATAKA
BAILHONGAL	BELAGAVI	KARNATAKA
BELGAUM-NEHRU NAGAR	BELAGAVI	KARNATAKA
BELLARY	BELLARY	KARNATAKA
KOTTURU	BELLARY	KARNATAKA
HOSPET	BELLARY	KARNATAKA
BANASWADI	BENGALURU	KARNATAKA
DASARAHALLI	BENGALURU	KARNATAKA
ANANTH NAGAR, BENGALURU	BENGALURU	KARNATAKA
BANGALORE-MADIVALA	BENGALURU	KARNATAKA
BANGALORE-HEBBAL	BENGALURU	KARNATAKA
BANGALORE-MALLESHWARAM	BENGALURU	KARNATAKA
BANGALORE-VIJYANAGAR	BENGALURU	KARNATAKA
BENGALURU BANASHANKARI	BENGALURU	KARNATAKA
BANGALORE-MAHALAXMI L’OUT	BENGALURU	KARNATAKA
BANGALORE-SULTANPET(CITY)	BENGALURU	KARNATAKA
BANGALORE-CANTONMENT	BENGALURU	KARNATAKA
BANGALORE-BASAVANAGUDI	BENGALURU	KARNATAKA
BANGALORE-JAYANAGAR	BENGALURU	KARNATAKA
BANGALORE-SRINAGAR	BENGALURU	KARNATAKA
BANGALORE-SARAKKI LAYOUT	BENGALURU	KARNATAKA
BANGALORE-SADASHIVA NAGAR-CPBB	BENGALURU	KARNATAKA
BANGALORE-PADMANABHANAGAR	BENGALURU	KARNATAKA
BANGALORE – N L S I UNIVERSITY	BENGALURU	KARNATAKA
BANGALORE-KAMAKSHIPALLYA	BENGALURU	KARNATAKA
BANGALORE-HRBR LAYOUT	BENGALURU	KARNATAKA
BANGALORE-MIEL	BENGALURU	KARNATAKA
KALYAN NAGAR, BANGALORE	BENGALURU	KARNATAKA
DOMLUR	BENGALURU	KARNATAKA
CHOWDESHWARI TEMPLE STREET – BANGALORE	BENGALURU	KARNATAKA
VIJAYANAGAR	BENGALURU	KARNATAKA
NELMANGALA	BENGALURU RURAL	KARNATAKA
DEVANAHALLI	BENGALURU RURAL	KARNATAKA
CHAMARAJANAGAR	CHAMARAJANAGAR	KARNATAKA
KADUR	CHIKKAMAGALURU	KARNATAKA
CHITRADURGA	CHITRADURGA	KARNATAKA
CHALLAKERE	CHITRADURGA	KARNATAKA
MANGALORE-CAR STREET	DAKSHINA KANNADA	KARNATAKA
PUTTUR	DAKSHINA KANNADA	KARNATAKA
BANTWAL	DAKSHINA KANNADA	KARNATAKA
PUTTUR-BOLWAR	DAKSHINA KANNADA	KARNATAKA
PADMANOOR	DAKSHINA KANNADA	KARNATAKA
MOODABIDRI	DAKSHINA KANNADA	KARNATAKA
MANGALURU SERVICE BRANCH	DAKSHINA KANNADA	KARNATAKA
BAIKAMPADY	DAKSHINA KANNADA	KARNATAKA
MANGALORE-PADAVU	DAKSHINA KANNADA	KARNATAKA
MANGALORE-KANKANADY	DAKSHINA KANNADA	KARNATAKA
MANGALORE-M.G.RD	DAKSHINA KANNADA	KARNATAKA
MANGALORE-R.B.C.	DAKSHINA KANNADA	KARNATAKA
MANGALORE- KADRI-CPBB	DAKSHINA KANNADA	KARNATAKA
MANGALORE-KODIALBAIL-CPBB	DAKSHINA KANNADA	KARNATAKA
MANGALORE-JEPPU	DAKSHINA KANNADA	KARNATAKA
DAVANGERE-P.B.RD	DAVANGERE	KARNATAKA
HARIHAR	DAVANGERE	KARNATAKA
DAVANGERE-MANDIPET	DAVANGERE	KARNATAKA
HUBLI-VIDYANAGAR-PBB	DHARWAD	KARNATAKA
HUBLI- DURGAD BAIL(COEN RD)	DHARWAD	KARNATAKA
DHARWAD	DHARWAD	KARNATAKA
GADAG	GADAG	KARNATAKA
HEBBALU	HASSAN	KARNATAKA
HASSAN-K.R. PURAM	HASSAN	KARNATAKA
HASSAN	HASSAN	KARNATAKA
SAKLESHPUR	HASSAN	KARNATAKA
CHENNARAYAPATNA	HASSAN	KARNATAKA
ARASIKERE	HASSAN	KARNATAKA
KABBUR	HAVERI	KARNATAKA
HAVERI	HAVERI	KARNATAKA
MAKANUR	HAVERI	KARNATAKA
MADIKERI	KODAGU	KARNATAKA
VIRAJPET	KODAGU	KARNATAKA
KUSHALA NAGAR	KODAGU	KARNATAKA
KOLAR	KOLAR	KARNATAKA
K G F-ROBERTSONPET	KOLAR	KARNATAKA
PANDAVPURA	MANDYA	KARNATAKA
MYSORE MAIN	MYSURU	KARNATAKA
RAICHUR	RAICHUR	KARNATAKA
CHANNAPATNA	RAMANAGARA	KARNATAKA
KANAKAPURA	RAMANAGARA	KARNATAKA
SAGAR	SHIVAMOGGA	KARNATAKA
BHADRAVATHI-JANNAPUR	SHIVAMOGGA	KARNATAKA
THIRTHAHALLI	SHIVAMOGGA	KARNATAKA
BHADRAVATHI- B.H.ROAD	SHIVAMOGGA	KARNATAKA
TIPTUR	TUMAKURU	KARNATAKA
KARKALA-SALMAR	UDUPI	KARNATAKA
VADERAHOBLI	UDUPI	KARNATAKA
KUNDAPUR	UDUPI	KARNATAKA
MANIPAL	UDUPI	KARNATAKA
UDUPI-AMBALAPADY	UDUPI	KARNATAKA
CHERUKOLE	ALAPPUZHA	KERALA
ERNAKULAM-RAVIPURAM	ERNAKULAM	KERALA
PANAMPILLY NAGAR	ERNAKULAM	KERALA
NEDUMKANDAM	IDUKKI	KERALA
THALASSERY	KANNUR	KERALA
KANHANGAD	KASARGOD	KERALA
CHANNAPETTA	KOLLAM	KERALA
KOTTAYAM	KOTTAYAM	KERALA
KOZHIKODE (CALICUT)	KOZHIKODE	KERALA
KUNNAMKULAM	THRISSUR	KERALA
JAWA	REWA	MADHYA PRADESH
NANDED	NANDED	MAHARASHTRA
RAYAGADA	RAYAGADA	ODISHA
POLLACHI	COIMBATORE	TAMIL NADU
POOSARIPATTI	COIMBATORE	TAMIL NADU
COIMBATORE MAIN	COIMBATORE	TAMIL NADU
MUGASIANUMANPALLI	ERODE	TAMIL NADU
CHROMPET	KANCHEEPURAM	TAMIL NADU
NANGANALLUR	KANCHEEPURAM	TAMIL NADU
MADURAI-SME	MADURAI	TAMIL NADU
MADURAI VENGALAKADAI	MADURAI	TAMIL NADU
COONOOR	NILGIRIS	TAMIL NADU
KUMBAKONAM	THANJAVUR	TAMIL NADU
ADUTHURAI	THANJAVUR	TAMIL NADU
BODIPATTY	TIRUPPUR	TAMIL NADU
TIRUPUR-SME	TIRUPPUR	TAMIL NADU
TUTICORIN	TOOTHUKKUDI	TAMIL NADU
ANNIYUR	VILLUPURAM	TAMIL NADU
ADILABAD	ADILABAD	TELANGANA
BHADRACHALAM	BHADRADRI KOTHAGUDEM	TELANGANA
KOTHAGUDEM	BHADRADRI KOTHAGUDEM	TELANGANA
ASWARAOPET	BHADRADRI KOTHAGUDEM	TELANGANA
YELLANDU	BHADRADRI KOTHAGUDEM	TELANGANA
PADMARAONAGAR	HYDERABAD	TELANGANA
BAKARAM	HYDERABAD	TELANGANA
MARREDPALLY	HYDERABAD	TELANGANA
BANJARAHILLS	HYDERABAD	TELANGANA
BANJARA HILLS-II	HYDERABAD	TELANGANA
CENTRALISED DP CELL	HYDERABAD	TELANGANA
FI CELL	HYDERABAD	TELANGANA
HYDERABAD-NEW NALLAKUNTA	HYDERABAD	TELANGANA
HYDERABAD-JUBILEE HILLS-CPBB	HYDERABAD	TELANGANA
HYDERABAD SERVICE	HYDERABAD	TELANGANA
GAGAN MAHAL ROAD	HYDERABAD	TELANGANA
R P ROAD SECUNDERABAD	HYDERABAD	TELANGANA
SOMAJI GUDA	HYDERABAD	TELANGANA
GOLLAPALLI	JAGITIAL	TELANGANA
KORATLA	JAGITIAL	TELANGANA
METPALLY	JAGITIAL	TELANGANA
CHITYALA	JAYASHANKAR	TELANGANA
MULUG GHANPUR	JAYASHANKAR	TELANGANA
BHOOPALAPALLY	JAYASHANKAR	TELANGANA
GADWAL	JOGULAMBA	TELANGANA
BANSWADA	KAMAREDDY	TELANGANA
SADASIVANAGAR	KAMAREDDY	TELANGANA
BHIRKUR	KAMAREDDY	TELANGANA
HUZURABAD	KARIMNAGAR	TELANGANA
VEENAVANKA	KARIMNAGAR	TELANGANA
CHIGURUMAMIDI	KARIMNAGAR	TELANGANA
KHAMMAM	KHAMMAM	TELANGANA
KALLUR	KHAMMAM	TELANGANA
THALLADA	KHAMMAM	TELANGANA
RAJENDRA NAGAR, MAHABUBNAGAR	MAHABUBNAGAR	TELANGANA
MAHABUBNAGAR	MAHABUBNAGAR	TELANGANA
METTUGADDA	MAHABUBNAGAR	TELANGANA
MANCHERIAL	MANCHERIAL	TELANGANA
KALYANKANI	MANCHERIAL	TELANGANA
CHENNUR	MANCHERIAL	TELANGANA
SRINIVASAPURAM	MEDCHAL-MALKAJGIRI	TELANGANA
NAGERKURNOOL	NAGARKURNOOL	TELANGANA
HALIYA	NALGONDA	TELANGANA
KONDA MALLEPALLY	NALGONDA	TELANGANA
MIRYALAGUDA	NALGONDA	TELANGANA
DEVERKONDA	NALGONDA	TELANGANA
ANKAPUR	NIZAMABAD	TELANGANA
BALKONDA	NIZAMABAD	TELANGANA
PERKET	NIZAMABAD	TELANGANA
ARYA NAGAR	NIZAMABAD	TELANGANA
NIZAMABAD	NIZAMABAD	TELANGANA
NIZAMABAD (E-AB)*	NIZAMABAD	TELANGANA
PEDDAPALLY	PEDDAPALLI	TELANGANA
GODAVARIKHANI	PEDDAPALLI	TELANGANA
SIRICILLA	RAJANNA SIRICILLA	TELANGANA
TURKYAMJAL, HYDERABAD	RANGA REDDY	TELANGANA
HYDERABAD-VANASTHALIPURAM	RANGA REDDY	TELANGANA
CHANDANAGAR	RANGA REDDY	TELANGANA
SIDDIPET	SIDDIPET	TELANGANA
BEJJANKI	SIDDIPET	TELANGANA
HUSNABAD	SIDDIPET	TELANGANA
KODAD	SURYAPET	TELANGANA
SURYAPET	SURYAPET	TELANGANA
NOONTHANKAL(GORANTLA)	SURYAPET	TELANGANA
TANDUR, R R DIST	VIKARABAD	TELANGANA
WANAPARTHY	WANAPARTHY	TELANGANA
NARASAMPET	WARANGAL-RURAL	TELANGANA
PARAKALA	WARANGAL-RURAL	TELANGANA
HANUMAKONDA, WARANGAL	WARANGAL-URBAN	TELANGANA
KAZIPET, WARANGAL	WARANGAL-URBAN	TELANGANA
K M C CAMPUS, WARANGAL	WARANGAL-URBAN	TELANGANA
WARANGAL	WARANGAL-URBAN	TELANGANA
NAKKALAGUTTA	WARANGAL-URBAN	TELANGANA
BHONGIR	YADADRI BHUVANAGIRI	TELANGANA
KASGANJ	KANSHIRAM NAGAR	UTTAR PRADESH

*(E-AB) = erstwhile Andhra Bank, (E-CB) = erstwhile Corporation Bank.

Annexure – II

PERFORMANCE REVIEW AND RATING OF CONCURRENT AUDITORS FEEDBACK REPORT FOR THE PERIOD ENDED

1. Name of C. A. firm : M/s

2. Address of C.A. Firm :

3. Details of Branch Audited Branch Name :

O. :

Category : ELB/VLB/LB etc.

4. The C. A. firm is auditing the Br. Since :

PERFORMANCE REVIEW (PARAMETERS 1 TO 3 TO BE FILLED UP BY BRANCH HEAD AND
4 & 5 BY In-Charge ZAO)

Sr. No.	Parameter	Norms for Assigning score	Max.Marks		Marks assigned
1	Attendance		10
	a. 90% of all working days by Audit Assistant			10
	b. >10% to 5 days absence in a month by Audit Assistant			7
	c. Absence for more than 5 days by Audit Assistant			0
2	Visits of partner/Proprietor & attending briefing sessions		05
	a. Minimum 4 visits in a month by Partner			5
	b. 3 visits in a month by Partner			3
	c. Less than 3 visits by Partner in a month.			0
3.	Timely Submission of Reports –
	a. By 10th day of the succeeding month			10
	b. Between 11th and 15th day of the succeeding month.			5
	c. After 15th day of succeeding month			0
4.	Adequacy of coverage and quality of report		45
	a. Quality and Coverage of report		15
		Excellent		15
		Good		10
		Satisfactory		5
		Unsatisfactory		0
	b. Comments on compliance of KYC/AML norms in new A/cs.		10
		Excellent		10
		Good		8
		Satisfactory		4
		Unsatisfactory		0
	c. Asset Classification as per IRAC guidelines		10
		Excellent		10
		Good		8
		Satisfactory		4
		Unsatisfactory		0
	d. Reporting of persisting irregularities regularly		10
		Excellent		10
		Good		8
		Satisfactory		4
		Unsatisfactory		0
5.	Effectiveness of Concurrent Auditor		30
	a. Efforts put in by and steps taken by the Concurrent Auditors to get the irregularities rectified and revenue leakage recovered and overall efforts in bringing improvement in Branch functioning.		15
		Excellent		15
		Good		10
		Satisfactory		5
		Unsatisfactory		0
	b. Whether there was any instance of the Concurrent Auditor not pointing out serious irregularities /revenue leakage/fraud which was subsequently detected during Regular Audit:		15
		a. Serious irregularities		5*
		e. Revenu e leakage		5*
		Fraud		5*
	Total		100

( Branch Manager)

* In case there is any instance of Concurrent Auditors not pointing out any of the above, zero marks may be given. If not, full marks to be given.

In-Charge of ZAO

OVER ALL ASSESSMENT OF PERFORMANCE.

Grade/Rating	Maximum Marks	Marks obtained
A	80 and above
B	70 – 79
C	60 – 69
D	Below 60

Note:

The contract with audit firm falling in Grade ‘D’ shall be terminated before completion of the audit term.

ANNEXURE- A

Letter of acceptance to be obtained on firm’s Letter head

To,
The Deputy General Manager,
Audit and Inspection
Union Bank of India,
e-Andhra Bank Building,
4th Floor, Sultan Bazar, Koti,
Hyderabad – 500095.

Dear Sir,

Sub : Concurrent Audit of your

____________Branch

With reference to your letter No.A&I:__________________ dated_______ on the subject matter, we do hereby convey our acceptance to undertake the audit of your above-mentioned branch on the terms and conditions mentioned therein.

As desired by you, we send herewith the following documents :

i) Duly filled and signed application downloaded from website by entering the required information.

ii) Copies of certificate of experience / appointment letters of Concurrent Audit etc., in relation to similar assignment performed elsewhere, if any.

iii) Copy of Registration Certificate issued to the firm by ICAI.

iv) Copy of Certificate issued by ICAI of having completed “Course on Concurrent Audit of Banks” conducted by ICAI.

v) Copy of certificate of CISA / DISA

vi) Copy of letter from RBI on allotting Unique Code No.

vii) Due Diligence of staff/employees.(Annexure – B)

viii) Letter of confirmation regarding non-disqualification of audit firms/Consultant. (Annexure – C)

ix) Do’s & Don’ts (Annexure – D)

x) Declaration of Fidelity & Secrecy. (Annexure -E)

xi) Undertaking shall be obtained from the Concurrent Auditors that they do not have any professional or commercial relationship with the borrowers of the Branch/Department where they are auditing. (Annexure – C)

xii) Undertaking shall be obtained from the Concurrent Auditor that none of the credit facilities availed by the firm or any of its partners are declared as NPAs with any Bank. (Annexure – C)

Yours faithfully,
For and on behalf of,

M/s. ____________

Partner
(Name of partner with firm’s seal)

Encl : as above.

Place :
Date :

ANNEXURE- B

Declaration/Undertaking (To be given on Letter Head of the firm)

To,
The Deputy General Manager,
Audit and Inspection
Union Bank of India,
e-Andhra Bank Building,
4th Floor, Sultan Bazar, Koti,
Hyderabad – 500095.
Subject : Due Diligence of our employees
Dear Sirs,

We, M/s. _______________________________ have been entrusted with Concurrent Audit assignment of____________________ Branch in terms of letter No.________________ dated As per the clause No._________ of the aforesaid letter, we unconditionally agree to exercise due diligence of all our employees and undertake to engage persons having established identity, integrity, requisite qualifications and skills and deployment experience for offering the services under the aforesaid contract.

We hereby give an undertaking/confirmation that a proper due diligence of our present employees, engaged for offering the services has been conducted by us as per the clause No.______ of the abovementioned letter.

Yours faithfully,
For and on behalf of,
M/s. ____________

Partner
(Name of partner with firm’s seal)

Place :

Date :

ANNEXURE- C

Letter of confirmation regarding Non-disqualification of Audit Firm/Consultant
( to be submitted on firm’s letter head )

To,
The Deputy General Manager,
Audit and Inspection
Union Bank of India,
e-Andhra Bank Building,
4th Floor, Sultan Bazar, Koti,
Hyderabad – 500095.

Dear Sir,

With reference to your letter No. ……….. dated ………. we confirm as follows:

i) Any of our partners is not an officer/employee of your Bank.

ii) Any of our partners is not a partner or in employment of any office or employee of your Bank.

iii) Any of our partners or Associates firms or sister concern or Branch office, is not assigned with Statutory Audit of your Bank.

iv) We are not otherwise disqualified to accept the audit in terms of Section 141 of the Companies Act – 2013.

v) We also confirm that we are full time practising chartered accountants and are not employed elsewhere and do not have any other business interest.

vi) We undertake not to subcontract the audit work assigned to us to any outsider.

vii) We do/will not have any professional or commercial relationship with the borrowers of the branch/Department which we are auditing.

viii) We also confirm that we will not give room for disqualification during the course of audit for any of the reasons mentioned above.

ix) Credit facilities availed by the firm or partners of firms in which we are partners including any facility availed by a third party for which the firm or any of its partners is/are guarantor/s have not turned or are existing as Non-performing assets as per the prudential norms of RBI

x) The firm has necessary office set up & adequate personnel to ensure proper deployment and timely completion of assignments.

Yours faithfully,
For and on behalf of,
M/s.__________________
Partner
(Name of partner with firm’s seal)

Place :
Date :

ANNEXURE- D

To be submitted on firm’s letter head

To,

The Deputy General Manager,
Audit and Inspection
Union Bank of India,
e-Andhra Bank Building,
4th Floor, Sultan Bazar, Koti,
Hyderabad – 500095.

Dear Sir,

We undertake to observe the following do’s & don’ts during the currency of audit.

DO’S AND DON’TS FOR CONCURRENT AUDITORS

Do’s

The Inspecting Concurrent Auditors should

1. Carry out Pre-inspection study of the branch by going through the auditee related off site surveillance reports and pre requisites documents.

2. Prepare proper audit plan based on 1 above.

3. Maintain utmost secrecy with regard to inspection program and its findings.

4. Display team spirit and avoid misunderstandings / arguments in the presence of auditees.

5. Commence inspection of the branch before commencement of business hours to verify the physical cash, security arrangement etc.

6. Act in a normal friendly fashion and help to improve normal working of the branch.

7. Discuss his findings with branch officials on daily basis and try to rectify the defects then and there itself.

8. Give auditees a chance to express their opinion while discussing the issues. Getting proper explanation in a co-operative atmosphere will save precious time.

9. First discuss with the leader of his team in case of difference of opinion with auditee. Further discussion with head of Regional Audit Office / Zonal Audit Office level if required, may be made. Besides, discussion if required with CGM (A&I) can also be made for guidance / instruction.

10. Report the matter to the leader of the team immediately if the inspecting officer comes across any information which causes him to suspect any element of fraud, gross negligence, gross incompetence or similar unfavorable actions or tendencies.

11. Ensure the members of the team keep continuous dialogue with the leader of the team on important findings and be guided by his advice.

12. Maintain a neat appearance and courteous manners.

Don’ts:

1. Auditor need not act overly reserved or unfriendly in order to maintain his independence as an inspecting officer. A forbidding attitude on his part may well cause others to adopt the same attitude towards him. This can adversely affect the work entrusted to the inspecting officer.

2. Auditor should not get involved in heated argument with auditee.

3. Auditor should not give orders to auditee and seek requirements from the officer assigned to assist him on a particular job. The concerned officer would issue the necessary orders to their employees if he accepts inspector’s suggestions and recommendations.

4. Auditor should not delay the submission of audit report.

5. Auditor should not discuss sensitive matters of the auditee with others.

For and on behalf of,
M/s.

Partner
(Name of partner with firm’s seal)

Place :
Date :

ANNEXURE- E

Declaration of Fidelity And Secrecy

( to be submitted on firm’s letter head )

We, _________________________ in the capacity of_____________________ do hereby declare that we will faithfully, truly and to the best of our skill and ability execute and perform the duties required of us as Consultant of Union Bank of India and which properly relate to the office of position in the said Union Bank of India held by us.

We further declare that we will not communicate or allow to be communicated to any person not legally entitled thereto any information relating to the affairs of Union Bank of India or the affairs of any person having any dealing with Union Bank of India, nor will we allow any such person to inspect or have access to any books or documents belonging to or in the possession of Union Bank of India and relating to the business of Union Bank of India or to the business of any person having any dealing with Union Bank of India.

For and on behalf of,
M/s.

Partner
(Name of partner with firm’s seal)

Place :

Date :

(Republished with amendments)