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Last Date : Feb 13, 2017 Application for Empanelment of Forensic Auditors with Oriental Bank of Commerce

Terms & Conditions for empanelment of Forensic Auditors

a) Eligibility Criteria

The eligibility criteria shall be as under:‑

  1. Firm/Company must be in existent for at least 10 years.
  2. Firm/Company must have 5 FCA with one of them DISA(Diploma in Information System Audit) qualifications OR One of the partners/directors of the firm/corporate should be Certified Fraud Examiner (CFE) or has done “Forensic Audit and Fraud Detection” course of The Institute of Chartered Accountants of India (ICAO.
  3. Weightage will be given to the firm/company empanelled as “Forensic Auditor” with large PSU like SBI, PNB, Canara Bank, BOB, BOI, Union Bank or other Pvt Bank like Axis, ICICI but qualifying criteria, as stated above.
  4. Having integrity and character beyond doubt. Unblemished track record with no unsatisfactory conduct in the past and should have not been blacklisted / depanelled by any financial institution/other organisation/any government department.
  5. Should not have any association in any manner with the unit/group referred for forensic audit to ensure transparency and integrity of the audit.
  6. The name of the firm/company or its promoter/partner etc. should not be in the defaulters/barred/caution list published/displayed on websites of public bodies such as by RBI/IBA/ECGC/SEBI/CIC etc.
  7. If any of the Directors of Oriental Bank of Commerce is a Partner/Director in a firm/Company, such firm/company shall not be considered for appointment as Forensic Auditor.
  8. The firm shall be considered for appointment as per Bank’s eligibility criteria.

b) Process of Empanelment

  • The respective audit firm/company will not send the hard copy of the application/annexures to the Bank without being called for.
  • Only the audit firm/company provisionally selected for empanelment will be communicated through e_mail. No correspondence/communication from the applying firms/companies will be entertained by the Bank whatsoever.
  • A unique acknowledgement number for each completed application will be generated and the same will be displayed on the website immediately after submitting the application. This shall serve as a future reference number for the Bank/Firm/Company.
  • The applicant firm/company can take printout of the completed/submitted application along with the acknowledgement number for their reference.
  • Mere submission of application by the audit firms/companies for appointment as Forensic Auditor in the Bank shall not entitle them automatically for assignment.
  • The application will be processed and firm/company selected for empanelment will be communicated in due course. Accordingly, the filled in application downloaded from the system along with system generated acknowledgement slip and scanned copies of below mentioned documents to be sent to Head Office, Inspection & Control Department along with following enclosures:‑

Documents to be submitted with the application:-

i) Copy of Registration Certificate issued to the firm by ICAI.

ii) Copy of Constitution Certificate issued by ICAI.

iii) Copies of certificate of qualification & relevant experience

The envelope must be superscribed with APPLICATION FOR EMPANELMENT OF FORENSIC AUDITORS” & be sent by Registered Post/Speed Post at the following address within 7 days from the date of e_mail

The General Manager(I&C),

Oriental Bank of Commerce,

Inspection & Control Deptt,

2na Floor, Annex Building,

Plot No-5, Institutional Area,

Sector-32, Gurgaon-122 001.

email :

Merely meeting the eligibility criteria shall not automatically entitle the firm/company 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/company for carrying out the assignments. The Bank reserves its right to cancel any or all the offers without assigning any reason whatsoever.

c) Declaration of Fidelity & Secrecy by the Forensic Audit firm/company

Following documents duly signed by authorised person shall be submitted to HO, I&C Deptt for empanelment of Forensic Auditor:-

  • Acceptance letter on firm’s/company’s letter head mentioning the name of
    partners/directors alongwith his signature who will conduct the audit.
  • Latest constitution certificate duly verified
  • Declaration of Fidelity & Secrecy (as per performa)

d) Negligence/Deficiency in Services of Forensic Auditor / Depanelment

In case of any major irregularities, negligence or deficiency in services as per the terms of appointment and scope of work as per Forensic Audit Policy is observed, the allotment is liable to be cancelled. The forensic audit firm/company shall be depanelled from Bank’s approved list with immediate effect and the depanelment shall also be reported to RBI/IBA/ICAI and shall not be given any assignment in future.

e) Validity period of empanelled Firm/Company: Panel shall be valid for three years or till the next panel is approved.

f) Allotment of Forensic Audit / Audit Fee Payable for Forensic Audit Quotations shall be called from the empanelled forensic auditors for allotment of audit work. The audit fee would depend on scope of work, complexity involved, period to be covered under scrutiny, the reasonable time the auditor would need to complete the audit and the resources required to be deployed for the completion of work assigned.

Revised Link to Apply Online for empanelment as Forensic Auditors with Oriental Bank of Commerce

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