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)

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8 Comments

  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 ?

      1. 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 >>>>

  2. 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

  3. 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,

  4. 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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