Empanelment of selection of Auditors for conducting concurrent audit in Corporation Bank: H.O. IAD

Corporation Bank invites online application for selection of Concurrent Auditors for Concurrent Audit of the Branches / Offices of the Bank. The Firms that are already empanelled with the Bank are required to participate as fresh allotment of assignments will be only through this process
Tender No. File Tender Date Tender End Date
IAD/01/2018-19 Empanelment of selection of Auditors for conducting concurrent audit in Corporation Bank: H.O. IAD Monday, June 11, 2018 Monday, June 25, 2018
Tender document -18.pdf
Link for Online Registration & Downloading Application.pdf
Terms Conditions.pdf
Annexure 1.pdf

Request For Empanelment Selection of Auditors For Conducting Concurrent Audit in Corporation Bank

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/01/2018-19 Date:11.06.2018
Commencement of ROE 11.06.2018
Last Date for submission of ROE 25.06.2018
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. Shiva Sharma K, 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.

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 Bank may also consider Proprietorship firms wherever Partnership firms are not available.

13. 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 empanelled 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 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 20.06.2018. Audit Firms are requested to look in to the website for any updated information. No separate paper publication will be given in the matter.

Republished with new Empanelment details

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8 responses to “Empanelment with Corporation Bank for Concurrent Audit”

  1. vswami says:

    To ADMN.

    Obviously, the cause for the possible confusion is the display of those outdated inquiries ; which should have been deleted for sake of clarity – agree ?

  2. vswami says:

    INSTANT

    To ADMN.

    The Readers’ posts date so far back as May 2013;
    Confusing, why then this display with dt.13 Jun 2018 ?!

    • TG Team says:

      Sir,

      Its clear mentioned at the end of article that post been republished with amendment

      • vswami says:

        The point made has obviously been over sighted;
        that was wrt the OLD readers ‘ DOUBTS RAISED; WHICH IN ALL FAIRNESS, MORE SO NOT HAVING BEEN ANSWERED / CLEARED, SHOULD HAVE BEEN DELETED, INSTEAD OF REPEAT UNDER THE NEW UPDATED POST ?!
        NOT TO BOTHER ANY WAY >>>>

  3. D.V.S.R.ANJANEYULU says:

    PLAEASE ALSO INFORM ME WHEN WOULD BE THE AUDIT WILL COMMENCE

  4. D.V.S.R.ANJANEYULU says:

    SIR CAN YOU PLEASE GIVE ME INFORMATION ABOUT LAST DATE FOR SUBMISSION & IS THAT THE FORMAT WAS APPROVED BY CORPORATION BANK.PLEASA INFORM ME AS EARLY AS POSSIBLE.

    REGARDS,
    D,V,S,R,ANJANEYULU

  5. Nitin Chilvery says:

    When is the commencement of empanelment for concurrent audit of corporation bank is starting and what is the last date.Kindly confirm,

  6. V Raghavendra says:

    Dear sir,

    When is the commencement of empanelment for concurrent audit of corporation bank is starting and what is the last date.Kindly confirm,
    Regards,
    V.Raghavendra

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