Advertisement for web based applications from Chartered Accountant firms for empanelment for the year 2014-15
Applications are invited from Chartered Accountant firms for selection of Concurrent Auditors of the branches/offices for the period 01.07.2014 to 30.06.2015. The eligibility criteria for selection of Concurrent Auditors are as follows:
1) The Chartered Accountant firms/Concurrent Auditors should be on RBI panel.
2) The Chartered Accountant firms should be partnership concerns.
3) At -least one of the partners of the audit firm should have a qualified Information System Auditor (CISA/DISA) with necessary exposure to system audit.
4) The firm should have necessary office set up and adequate personnel to ensure proper deployment and timely completion of the assignment.
Further, the following points may be inserted in the advertisement to make the process clearer and Concurrent Auditors aware of certain important issues while making the applications for selection:
1) Weightage will be given to the firm where the partners themselves are ex-bankers or the firm has got tie-up arrangement with ex-bankers with requisite experience/exposure.
2) Weightage will also be given to a firm having exposure in conducting concurrent audit of the Bank branches/offices for a few public sector / major private sector banks.
3) The audit firm or any sister concern / net work firm should not be conducting the Statutory Audit of the Bank or any office / branches of the Bank.
4) If selected, the Concurrent Auditors shall have to abide by all the terms and conditions of appointment / selection laid down by the Government of India /RBI/Our Bank without reservations. Also they shall be required to sign “Do’s and Don’ts” as stipulated in the government guidelines.
5) The present tenure of the selected Concurrent Auditors will run from 01.07.2014 to 30.06.2015. However, the tenure may be renewed annually depending on satisfactory performance of the Concurrent Auditors, subject to a maximum of three years on a continuous basis.
6) The decision for selection of Concurrent Auditors shall be the prerogative of the Bank and the Bank’s decision shall be final in selecting the Concurrent Auditors. The Bank will communicate the fact of selection only to the selected firms and no communication of selection /rejection will be made to the firm which are not selected. The decision of the Bank cannot be questioned or contested in any manner whatsoever.
7) The Bank reserves the right to amend or modify the eligibility criteria as deemed fit to suit its requirements.
8) Upon selection, various terms and conditions will be communicated to Chartered Accountant firms / Concurrent Auditors along with the Appointment letters to be complied with by them.
9) The monthly fees payable to concurrent auditors range from Rs.9, 000/- to Rs.20, 000/-, (except FTMD-HO) depending upon the level of the business of the branch/offices. Additionally, applicable service charges are also paid by the Bank.
The Bank’s web site will be open from 06.05.2014 to 04.06.2014 for online registration..
The Chartered Accountant firms are advised to send a hard copy of online application duly signed by the authorized signatory, with the acknowledgement no addressed to:
The Deputy General Manager,
Central Inspection Department,
Vijaya Bank, Head Office,
No.41/2, M. G. Road, Trinity Circle
CLICK HERE TO REGISTER ONLINE ( Open the link in Internet Explorer)