State Bank of India Local Head Office, S.S. Kovil Road Trivandrum 695 001
Empanelment of Chartered Accountants to carry out
Concurrent Audit of Branches situated in the State of Kerala
Applications are invited from Partnership Firms of Chartered Accountants of RBI Category II and III and suitable for empanelment as Statutory Branch Auditors for Public Sector Banks as per RBI norms for carrying out Concurrent Audit on full time, contractual basis (renewable every year, at Bank’s discretion) at its selected Branches / Offices / Credit Processing Centres (CPCs) situated in the State of Kerala. The Audit firms under RBI Category I can also apply provided they are agreeable to the remuneration payable to Category II or III and found suitable as per RBI norms. The Audit firms who have already been engaged as Concurrent Auditors by Kerala Circle need not apply.
Last date for receipt of Application: 29th November 2014.
Those who are interested may submit
[i] Application/ Bio-data together with passport size photographs of all partners
[ii]Photostat copies of Degree Certificate
[iii] Membership Certificate of Institute of Chartered Accountants of India (ICAI)
[iv] RBI Category certificate
[v] Any other certification obtained, etc.
to The Asst. General Manager (Audit), State Bank of India, Audit Department, Local Head Office, S.S. Kovil Road, Trivandrum 695 001 in sealed cover.
Terms and Conditions:
[a] Expertise in audit of Banking related areas and experience as Concurrent Auditors of other Banks in the past is preferred.
[b] Preference will be given to locally based Chartered Accountants or proximity to where the Branches / offices are situated.
[c] One employee/Articled Clerk is to be stationed on a full day basis at the Branch on an ongoing basis.
[d] A partner of the firm must visit the Branch on at least two days in a week [on full day basis].
[e] The Concurrent Auditor should submit report at fortnightly intervals on irregularities observed and rectified.
[f] Audit Firm should acknowledge the appointment letter as a token of the Firm agreeing to the terms and conditions of appointment.
[g] The Bank will have right to reject applications and Bank’s decision in empanelment is final. Further, if the services of Concurrent Auditors are not satisfactory, Bank will have the right to terminate the contract, any time.
[h] The following data in MS-Excel format may be sent by email to eca.lhotri@sbi.co.in and hard copy of the same duly signed may also be forwarded along with the application.
i) Name of the Firm
ii) FRN No.
iii) Constitution
iv) Date of Registration of Partnership firm
v) Standing of the Firm (No. of years)
vi) Address1, Address 2, Address3
vii) Main Office at
viii) Branch Office, if any 1, 2, 3
ix) Contact No. Land line , Mobile
x) Email
xi) RBI Category
xii) No. of CAs exclusively associated with the firm (Full time)
xiii) No. of partners exclusively associated with the firm (full time) (out of (ii))
xiv) Professional Staff
xv) Bank Audit Experience (Type of Audit, Name of Bank, No. of years)
Audit Fee:
| Branches | ||
| Business Level of Branches | Fee Structure (Rs per month) | RBI Grade of Auditor |
| Deposit Rs 300 Crs & above and Advance < Rs 400 Crs | 25,000 | Grade 3 |
| Advances Rs 400 Crs & above | 35,000 – 50,000 | Grade 2 / 3 |
| CPCs | ||
| LCPC/TFCPC | 25000 – 30000 | Grade 3 |
| RACPC/SMECCC/RASMECCC | 40000 – 50000 | Grade 2 / 3 |
Scope of Concurrent Audit / Areas to be covered:
[a] Compliance with RBI Guidelines / Guidelines of other regulatory agencies such as FEDAI /IBA.
[b] Compliance with Income Recognition and Asset Classification (IRAC) norms (to verify whether the classification of advances has been done as per stipulated guidelines).
[c] Whether any of the activities prohibited by RBI are undertaken; Whether Important RBI guidelines issued from time to time in the field of advances, foreign exchange, investments and other statutory requirements prescribed by RBI, are being complied with.
[d] Compliance with guidelines/ground rules of agencies such as FEDAI/IBA. Verification of various statements, returns prescribed by RBI.
[e]Compliance with provisions of Banking Regulation Act, 1949.
[f]Compliance with norms governed by Section20 in regard to granting loans/advances against own shares etc.
[g]Section 20A : Restrictions on power to remit debts.
[h]Section 26 : Submission of returns of unclaimed deposits.
[i]Section 340 : Production of documents of conditional nature to any other authority.
[j]Section 452: Return of paid instruments to customers.
[k]Banking Companies (Nomination Rules) Section 45 ZC, 45 ZE and 45 ZF.
[l]Any other provision which may be identified by Banking Operations Department of RBI for verification of compliance from time to time.
[m] FOREX / Security Transaction: To verify all FOREX / Security Transactions undertaken at the branches / dealing rooms. The Concurrent Auditor will have to verify whether the transactions or decisions are within policy parameters laid down, do not violate provisions of Exchange Control Manual / FERA 1973 and other RBI instructions and they are within delegated authority.
[n] Any other guidelines / instructions issued from time to time from Govt. of India, RBI, State Bank of India and/or any other Statutory Authorities.
