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 : [email protected] |
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
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 ?
INSTANT
To ADMN.
The Readers’ posts date so far back as May 2013;
Confusing, why then this display with dt.13 Jun 2018 ?!
PLAEASE ALSO INFORM ME WHEN WOULD BE THE AUDIT WILL COMMENCE
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
When is the commencement of empanelment for concurrent audit of corporation bank is starting and what is the last date.Kindly confirm,
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