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 31st 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 10th but before 20th of the next month to which the report pertains. In case the report is submitted after 20th 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)

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