Empanelment with Corporation Bank for Concurrent Audit

Empanelment of Concurrent Auditors for Corporation Bank

Corporation Bank invites applications for selection of Concurrent Auditors for audit of the Branches / Offices of the Bank. The Bank intends to appoint Concurrent Auditors by engaging Audit Firms by calling for application online.

The Audit Firms presently doing the Concurrent Audit / Statutory Audit of the Bank / branch or any other assignment are not eligible to apply.

The Firms that are already empaneled with the Bank are required to participate as fresh allotment of assignments will be only through this process.

Last Date – 20.06.2019

Selection of Auditors for Conducting Concurrent Audit in Corporation Bank

Request for Empanelment (RFE)

Corporation Bank hereinafter referred to as the Bank, invites sealed technical offers for Selection of Concurrent Auditors for audit of the Branches / Offices of the Bank listed in Annexure I. The details are given below:

ROE Reference	IAD/01/2019-20
Commencement of RFE	31.05.2019
Last Date for submission of RFE	20.06.2019
Address for Communication	The Deputy General Manager Inspection & Audit Division Corporation Bank, Head Office, Mangaladevi Temple Road, Mangalore – 575001
Contact Numbers	Phone:0824-2861484, 2861487 Email : iadcon@corpbank.co.in
Contact number for Technical Clarification	Mr. Manamohan B, Chief Manager Phone : 0824 2861487

Schedule of Requirements

The Bank intends to appoint Concurrent Auditors by engaging Audit Firms by calling for application online.

The eligibility criteria for submission of applications:

1. The Firms shall be Partnership firms. However, The Bank may also consider Proprietorship firms wherever Partnership firms are not available.

2. The Firm should have partners who have CISA/DISA qualification in addition to having completed a Course on Concurrent Audit of Banks conducted by ICAI.

3. The Firm should have been registered with the Institute for practice as well as with the Reserve Bank of India.

4. Firms with common partners should not submit applications separately. Such Firms should submit application on behalf of only one firm.

5. The Firms that submit their applications should not have been blacklisted by any of the Banks for any reason.

6. The Firm, sister concern or any associate concern shall not be doing Statutory audit of the Bank.

7. The Firms that are presently doing Concurrent Audit of branches of Corporation Bank as well as working as Due Diligent agents are not eligible to apply.

8. The Firm should not have any credit relationship with the Bank other than borrowings against their own deposits / jewels.

9. The firms should not be subject to any of the disqualifications under Section 141 of the Companies Act, 2013 for being appointed as External Concurrent Auditors of Corporation Bank.

10. The Firm should have sufficient infrastructure / office in the Centre where the assignment is sought.

11. 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.

12. The Audit Firms, before applying, should consider the distance to the branch from their Office and their manpower vis-à-vis the assignments on their hands.

Terms and Conditions

Terms and conditions for Applicants to participate in this Offer are specified in the section named “Terms and Conditions” as Annexure II. These terms and conditions are binding on all the Firms. These terms and conditions will form part of the Allotment Letter and should be accepted along with the allotment of audit.

Proposal Ownership

The application and all supporting documentation submitted by the Audit Firm shall become the property of the Bank.

Modification and Withdrawal of Offers

Applicants are not allowed to modify their offers once submitted. However, they are allowed to withdraw their offers any time before the last date and time specified for closing of the Offer. No offer can be withdrawn by an applicant after the closing date and time for submission of offers.

No Commitment to Accept Any Offer

The Bank is under no obligation to allot the audit work to any applicant and reserves its right to reject all the offers including incomplete offers without assigning any reason whatsoever.

Eligibility

The Audit Firms presently doing the Concurrent Audit / Statutory Audit of the Bank / branch or any other assignment are not eligible to apply.

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

The Firms that are already empaneled with the Bank are required to participate as fresh allotment of assignments will be only through this process.

Documentation

Documents in support of the qualifications must be submitted in support of the Offer made. A list of the documents that have to be submitted is given in the para “Format for Offer”.

The offer may not be evaluated and can be rejected by the Bank in case of non-adherence to the format or partial submission of documents. The Bank shall not allow/permit changes in the application after due date for submission of offers. Failure to submit the required information along with the offer could result in disqualification of the offer.

Format for Offer

The following documents/information should be submitted along with the Application for allotment of Concurrent Audit

1. Application

2. The applicants shall provide all the details sought for in the Registration form as otherwise the application will not be considered.

3. Self-Certified copies of the CA certificates of the Partners.*

4. Self-certified copies of the CISA / DISA certificates*

5. Self-certified copies of the “Course on Concurrent Audit of Banks” conducted by ICAI.*

6. Copy of the registration certificate of the Firm.

* The copies of the certificates should be scanned in a single file for uploading. The size may be kept below 2 MB for each file that is uploaded.

Location of Service

The Bank has furnished the locations where the services of the Audit Firms are required. The applicants should have their Head Office / Branch in those locations with proper infrastructure to conduct the Audit. The applicants should opt for branches that are convenient for them to visit for the purpose of audit and each applicant can indicate 5 branches of their choice. Filling up of the format for registration hosted in the website is mandatory as otherwise the application will not be considered.

Remuneration

The compensation to be paid to the firms are detailed along with the branches in Annexure I. The remunerations is based on the size of the branch and is not negotiable.

Allotment

The Bank will short list the audit firms based on the criteria devised by the Bank and branches will be allotted for audit to the firms that are shortlisted.

Amendments

Amendments, if any, will be published in the Bank’s website before 10.06.2019. Audit Firms are requested to look in to the website for any updated information. No separate paper publication will be given in the matter.

Annexure-I

List of Branches
Sl. No.	Br. Code	Branch-Name	State	Monthly-fees
1	6	Shimoga	Karnataka	18000.00
2	7	Madikeri	Karnataka	16000.00
3	9	Sakaleshpur	Karnataka	14000.00
4	15	Salem-Shevapet	Tamil Nadu	14000.00
5	17	Malpe	Karnataka	12000.00
6	27	Cannanore	Kerala	12000.00
7	37	Kotturu	Karnataka	14000.00
8	38	Mumbai-Mandvi	Maharashtra	18000.00
9	39	Ranibennur	Karnataka	12000.00
10	43	Hyderabad- Siddiambar Bazar	Telangana	12000.00
11	44	Secundarabad- M.G.Rd	Telangana	20000.00
12	50	Doddaballapur	Karnataka	14000.00
13	51	Proddatur	A.Pradesh	14000.00
14	57	Mumbai-Shivaji Park	Maharashtra	12000.00
15	58	Mumbai-Kalbadevi	Maharashtra	16000.00
16	62	Gadag	Karnataka	12000.00
17	66	Sankeshwar	Karnataka	14000.00
18	68	Kanhangad	Kerala	12000.00
19	69	Bangalore-Basavanagudi	Karnataka	18000.00
20	79	Tumkur	Karnataka	16000.00
21	80	Kolar	Karnataka	14000.00
22	89	Pallimukku	Kerala	12000.00
23	93	Tubagere	Karnataka	12000.00
24	94	Gulbarga	Karnataka	18000.00
25	95	Beluguppa	A.Pradesh	14000.00
26	126	KASARGOD	Kerala	12000.00
27	144	Bangalore-S.C.Rd	Karnataka	20000.00
28	151	Kolkata-Canning ST.	West Bengal	12000.00
29	171	Dindigul	Tamil Nadu	18000.00
30	176	Baikampady	Karnataka	12000.00
31	178	Manuru	Karnataka	12000.00
32	182	Kolhapur	Maharashtra	12000.00
33	193	Bodipatty	Tamil Nadu	14000.00
34	194	K G F-Robertsonpet	Karnataka	12000.00
35	208	Kottayam	Kerala	12000.00
36	222	Bangalore-Shanthinagar	Karnataka	14000.00
37	224	Puttur-Bolwar	Karnataka	12000.00
38	233	Shirwai Amona	Goa	12000.00
39	241	Tadambail	Karnataka	12000.00
40	248	Muthukulam	Kerala	12000.00
41	249	Mugasianumanpalli	Tamil Nadu	14000.00
42	255	Padmanoor	Karnataka	12000.00
43	273	Vaderahobli	Karnataka	16000.00
44	281	Nagoa	Goa	14000.00
46	303	Jaipur	Rajasthan	16000.00
47	318	Chitradurga	Karnataka	14000.00
48	323	Patna	Bihar	12000.00
49	325	Ponda	Goa	12000.00
50	327	Athani	Karnataka	18000.00
51	341	Bangalore-M.G.Rd	Karnataka	18000.00
52	347	Hubli-Aravindnagar	Karnataka	12000.00
53	359	Bhopal	M. Pradesh	12000.00
54	365	V. Koottu Road (Melnariappanur)	Tamil Nadu	16000.00
55	375	Bheemavaram	A. Pradesh	14000.00
56	391	Cherukole	Kerala	12000.00
57	394	Jamakhandi	Karnataka	14000.00
58	401	Mumbai-Goregaon(W)	Maharashtra	14000.00
59	403	Narsipuram	Tamil Nadu	14000.00
60	407	Chinthakunta	Telangana	12000.00
61	433	Arattupuza	Kerala	12000.00
62	441	Bhopal-J.P.Nagar	M.Pradesh	14000.00
63	444	Mumbai-Overseas	Maharashtra	22000.00
64	446	Panchakula	Haryana	22000.00
65	448	Varkala	Kerala	12000.00
66	456	Vasai-Navghar	Maharashtra	14000.00
67	457	Ranchi	Jarkhand	14000.00
68	467	Gandhidham	Gujarat	16000.00
69	469	Chennai-Tambaram Sanatorium	Tamil Nadu	12000.00
70	483	Tirupur-SME	Tamil Nadu	18000.00
71	496	Ambala	Haryana	14000.00
72	497	Mumbai-Ashokvan	Maharashtra	14000.00
73	522	New Delhi-Janakpuri	Delhi	12000.00
74	523	Bangalore-RPC Layout	Karnataka	14000.00
75	527	Tiruvananthapuram-Nallanchira-PBB	Kerala	12000.00
76	530	New Delhi-Vivek Vihar-CPBB	Delhi	14000.00
77	533	Allahabad- G.T.-PBB	U.Pradesh	14000.00
78	544	Rourkela	Orissa	12000.00
79	547	Tiruvananthapuram-Vellambalam	Kerala	14000.00
80	548	Karnal	Haryana	18000.00
81	550	Patna-Bowring Canal Rd-PBB	Bihar	14000.00
82	565	Mohali	Punjab	22000.00
83	569	Rohtak	Haryana	12000.00
84	580	Calangute-Goa	Goa	14000.00
85	581	Bareilly	U.Pradesh	14000.00
86	588	Rewari,Haryana	Haryana	12000.00
87	598	Moodabidri	Karnataka	14000.00
88	599	Kalapathy-Pallakkad-PBB	Kerala	12000.00
89	605	Mehsana	Gujarat	12000.00
90	610	Patiala	Punjab	14000.00
91	612	Moradabad	U.Pradesh	16000.00
92	637	New Delhi-Rajendra Place-CPBB	Delhi	12000.00
93	657	Aligarh,	U.Pradesh	12000.00
94	665	Saharanpur,	U.Pradesh	12000.00
96	686	Sanjay Palace Agra	U.Pradesh	12000.00
97	690	Pune-Shivajinagar	Maharashtra	12000.00
98	696	Siliguri, CPBB	West Bengal	12000.00
99	699	Palarivattom	Kerala	12000.00
100	703	Bangalore-Yelahanka New Town	Karnataka	12000.00
101	709	Sadar Nagpur	Maharashtra	12000.00
102	711	Mangalore-Kavoor	Karnataka	12000.00
103	715	Nelmangala	Karnataka	12000.00
104	718	Chennarayapatna	Karnataka	16000.00
105	720	Pandavpura	Karnataka	18000.00
106	725	Bangalore-Banaswadi	Karnataka	14000.00
107	736	Dehradun-Connaught Place	Uttaranachal	12000.00
108	759	Tiptur	Karnataka	14000.00
109	770	Hyderabad-Kukatpally	Telangana	14000.00
110	774	Pune-Baner	Maharashtra	14000.00
111	776	Raipur-Pandri	Chattisgarh	12000.00
112	777	Bhayander-Kasturipark	Maharashtra	12000.00
113	778	Gurgaon-Sector-31	Haryana	12000.00
114	785	Pune-Somwarpet	Maharashtra	12000.00
115	802	Ratnagiri	Maharashtra	14000.00
116	839	Berhampur	Orissa	12000.00
117	841	New Delhi-Naraina	Delhi	12000.00
118	842	Ghaziabad-Indirapuram	U.Pradesh	14000.00
119	864	Chennai-Madipakkam	Tamil Nadu	12000.00
120	867	Bangalore-Jeevan Beema Nagar	Karnataka	12000.00
121	881	Attibele	Karnataka	14000.00
122	886	Panvel	Maharashtra	12000.00
123	889	Chennai Kilpauk	Tamil Nadu	12000.00
124	909	Bidadi	Karnataka	12000.00
125	920	Treasury	Maharashtra	25000.00
126	1081	Sohna	Haryana	14000.00
127	1082	Channapatna	Karnataka	14000.00
128	1098	Vadodara-Manjalpur	Gujarat	12000.00
129	1102	Bangalore-H.S.R. Layout	Karnataka	12000.00
130	1125	Batala	Punjab	14000.00
131	1130	Chikkodi	Karnataka	14000.00
132	1145	Sangamner	Maharashtra	14000.00
133	1206	Ratlam	M.Pradesh	12000.00
134	1214	Pune-Pimple Saudagar	Maharashtra	12000.00
135	1228	Bangalore-Madivala	Karnataka	12000.00
136	1229	Bangalore-Kamakshipallya	Karnataka	12000.00
137	1320	Challakere	Karnataka	16000.00
138	1336	Usaini	U.Pradesh	12000.00
139	1373	Bangalore-HRBR Layout	Karnataka	12000.00
140	1391	Kattingeri	Karnataka	12000.00
141	1401	Markal	Maharashtra	22000.00
142	1528	Satbari	Delhi	14000.00
143	1564	Tenkasi	Tamil Nadu	18000.00
144	1568	Kabbur	Karnataka	16000.00
145	1622	Vyara	Gujarat	12000.00
146	1647	Kapashera	Delhi	14000.00
147	1690	BHOPAL – BAGH SEWANIA	M.Pradesh	12000.00
148	1914	Kamrej	Gujarat	14000.00
149	1930	Harawala	Uttaranachal	12000.00
150	1946	Seoni	M.Pradesh	12000.00
151	2055	Gurgaon-Sushant Lok(Erstwhile G-NICMAR)	Haryana	12000.00
152	2093	Gulbarga-Vidyanagar	Karnataka	12000.00
153	2095	Nellore-Dargametta	A.Pradesh	14000.00
154	2104	Meerut-Saket	U.Pradesh	14000.00
155	2106	Ghaziabad-Vasundhara	U.Pradesh	14000.00
156	2122	Army Public School Pune	Maharashtra	12000.00
157	2129	Hassan-K.R. Puram	Karnataka	14000.00
158	2150	Mysore-Saraswatipuram	Karnataka	14000.00
159	2933	Pataudi	Delhi	12000.00
160	3000	Vadodara-Dabhoi	Gujarat	12000.00
161	3005	Badvel	A.Pradesh	12000.00
162	3091	BANGALORE RACE COURSE ROAD	Karnataka	12000.00
163	3144	NASHIK-AMBAD MIDC	Maharashtra	12000.00
164	3195	RAMPURA PHUL	Punjab	12000.00
165	3274	Patna-Kankarbag Main Road	Bihar	12000.00
166	3299	Bagalur	Karnataka	12000.00
167	3327	Viramgam	Gujarat	12000.00
168	3373	Forex Hub, Bengaluru	Karnataka	12000.00

Annexure-II

Terms & Conditions for appointing of firms as Concurrent Auditors

10. The branches will be allotted based on the category of the firms in line with the guidelines of the Reserve Bank of India published for the purpose of statutory audits.

11. A Firm may furnish choice of a maximum of 5 branches. However, only one branch will be allotted to one Firm, if selected.

12. The allotment of Concurrent Audit will be at the discretion of the Bank and no queries/ clarifications in this regard will be entertained. Such allotment will be initially for a period of one year and may be continued on an annual basis up to a period of 3 years subject to satisfactory performance.

13. Firms with common partners should not submit applications separately. Such Firms should submit application on behalf of only one firm. In case of such applications, the Firms concerned will not be considered for appointment.

14. The Firms that submit their applications should not have been blacklisted by any of the Banks for any reason.

15. The Firm should submit the name of the Partner / qualified Chartered Accountant who will conduct the Concurrent Audit.

16. A qualified partner or a chartered accountant should be present in the branch for a minimum of 15 days in a month for audit work.

17. Annexure I details the branches that are to be audited, and the remuneration that will be paid to that branch. No extra amount will be paid for unit visits, certifications that are required to be done as per the Bank’s requirements. In case of the unit visit, the Auditors may request the Branch Head to arrange the logistics.

18. The Firm, sister concern or any associate concern shall not be doing Statutory audit of the Bank during the currency of Concurrent Audit.

19. The Firms that are presently doing Concurrent Audit of branches of Corporation Bank are not eligible to apply. The Firms who are engaged as Due Diligent agencies by the Bank need not apply, as they may not be considered as Concurrent Auditors.

20. The Concurrent Auditors will not lobby directly or indirectly for sanction of any credit proposal by the Bank.

21. The Firm should not have any credit relationship with the Bank other than borrowings of Partners against their own deposits/Jewels.

22. The firms should not be subject to any of the disqualifications under Section 141 of the Companies Act, 2013 for being appointed as External Concurrent Auditors of Corporation Bank.

23. The Firm should have sufficient infrastructure / office in the Centre where the assignment is sought. The firm after accepting the assignment shall not refuse to adhere to the terms of appointment such as attending to the audit work for a minimum period of 15 days in a month, fees payable etc.

24. If 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.

25. The firm shall not sub-contract the audit work.

26. 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.

27. However, the Bank reserves the right to allot any branch to an Audit Firm in the place where the Audit Firm has its Office if the Firm is not allotted the branches for which it has applied.

28. The Firms that have not been allotted any branch may be considered for allotment for any new vacancy arising out of emergent situations.

29. The Bank reserves its right to blacklist the Firm in case it refuses to accept the assignment for which it has applied.

30. The assignment should be carried out in a professional manner and in case of any misconduct & negligence, the Bank may report the matter to ICAI / RBI under the guidelines from time to time. This will be in addition to the disengagement from the assignment.

31. The applicants shall opt for the branches wherever they have their own offices with a minimum of one qualified partner / 2 chartered accountants.

32. 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 personal 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.

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

34. 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.

35. 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.

Download Full Request For Empanelment

(Republished with latest Empanelment details)