Multipurpose Empanelment Form 2023-24 hosted at https://meficai.org

The Professional Development Committee (PDC) is delighted to present the Multipurpose Empanelment Form (MEF) for the year 2024-25, now accessible at www.meficai.org. This form plays a pivotal role for audit firms, especially those aiming to become Statutory Branch Auditors of Public Sector Banks for audits ending on March 31, 2025, and beyond. Last date for submission of online Form is 7^th October, 2024. Before diving into the MEF process, it’s crucial to understand the guidelines and requirements outlined in this comprehensive guide.

♦ Multipurpose Empanelment Form (MEF) for the year 2024-25

Professional Development Committee
The Institute of Chartered Accountants of India
17th September, 2024

Announcement

Hosting of Multipurpose Empanelment Form (MEF)- 2024-25

Professional Development Committee (PDC) is pleased to host the Multipurpose Empanelment Form (MEF) for the year 2024-25, which is available at https://meficai.org/. Before filling the Multipurpose Empanelment Form (MEF) for the year 2024-25, Members are advised to go through the Advisory. Information provided through MEF is shared by ICAI with RBI, NABARD and other authorities for the purpose of empanelment for professional work.

Registration/ Login Credentials:

• Applicant already registered for MEF in previous year/(s), may login using the credentials directly of previous year for MEF 2024-25. If one has forgotten the password, please go to “Forgot Password” button to retrieve the password.
• Applicant applying for the first time, the applicant must first register for MEF 2024-25 at https://app.meficai.org/register.

Last date for submission of online Form is 7th October, 2024.

Professional Development Committee, ICAI

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♦ ADVISORY FOR MULTIPURPOSE EMPANELMENT FORM (MEF) 2024-25 

Last date for submission of online Form and Declaration is 7^th October, 2024.

1. Eligibility for filing MEF
   • Partnership/LLP Firms which are in existence as on 1^st July, 2024 OR
   • Proprietary Firms which are in existence as on 1^st July, 2024 OR
   • Member holding Full-time Certificate of Practice as on 1^st July, 2024 and practising in individual name.

   Please Note: The above is the eligibility criteria for filing the MEF only. The eligibility criteria of each auditee for allotment of audit may differ. Please refer to Norms of the respective auditees for further information.

2. Procedure of filing MEF
   • Green Fields are non-editable fields which exhibit the data related to Firms/ Members/ Partners/ Paid Employees which are fetched from the Self-Service Portal (Hereinafter referred to as SSP of ICAI).
   • White Fields are editable fields which exhibit the data from the last year’s MEF which are to be updated by the Applicants as per the actuals.
   • Any change in the data in Green field will be considered in MEF only if the same is reflected in SSP of ICAI. Applicants may indicate such change in Grey colour fields in MEF for information purpose.
   • MEF provides the facility of page-wise saving and is editable any number of times before submission. PLEASE NOTE THAT ONCE SUBMITTED, IT CANNOT BE EDITED.
3. Important Parameters – Grant of Credit
   • The Applicant will get the credit of the partner/proprietor only if she/ he is exclusively associated with the Applicant on 1^st July, 2024 until the date of second verification.
   • The second verification is subsequent verification of the records of the Member/ Firm as on 1^st July of the respective year with the latest SSP records which is normally in the month of October/November.
   • Exclusiveness of Partner/Proprietor /Member practicing in his Individual Name: Partner:
     1. The partner must hold full-time Certificate of Practice (CoP) on July 1, 2024, until the date of the second verification.
     2. The Partner must not have sole practice (individual) on July 1, 2024, until the date of the second verification.
     3. The Partner should not be associated with any other firm as a Partner/Proprietor/Paid CA on July 1, 2024, until the date of the second verification.
     4. The Partner should not be employed on July 1, 2024, until the date of the second verification.

     Proprietor/member practising in his individual name:

     1. The member must hold Full-time CoP on July 1, 2024, until the date of the second verification.
     2. The Proprietor/Member practicing in their individual name must not be associated with any other firm as a Partner/Proprietor/Paid CA on July 1, 2024, until the date of the second verification.
     3. The Proprietor/Member practicing in their individual name should not be employed on July 1, 2024, until the date of the second verification.
   • Common Partner-Treatment in MEF
     1. The details of the common partner(s) and their association with other firms, and/or practising in Individual name/Sole practice will be reflected after logging in the MEF.
     2. Out of the multiple firms with Common Partners, only one firm can apply for MEF. In case both / all the firms apply, the MEF of all these firms will be rejected.
     3. In case, the firms are having common partner(s)/proprietor(s) as on 1^st July, 2024 and only one firm applies then the same will be eligible but the credit of common partner(s)/proprietor(s) shall not be given.
   • Additional Parameters for Grant of credit – NABARD Panel for Appointment / Re-appointment of Statutory Auditors of State Co-operative Banks and Central Co-operative Banks:
     • Partner(s) will get the credit only if ‘Date of Joining’ of partner in the Firm is on or before 1^st July, 2021 AND
     • If she/ he is exclusively associatedwith the Applicant firm on 1^stJuly, 2023 and continuing until date of second verification.

     Please refer to detail guidelines dated 15.01.2024 for Appointment / Re-appointment of Statutory Auditors of State Co-operative Banks and Central Co-operative Banks for further clarification.

4. Unique Code Number (UCN)
   • UCN will be allotted to all first-time eligible Applicants for Bank Branch Auditor’s panel.
   • The Applicants who are not eligible for Bank Branch Auditor’s panel will also be allotted UCN, if any of the partners/ proprietor/ Member practising in individual name is exclusively associated with Applicant as on 1^st July, 2024.
   • Any Member who has been allotted UCN while practicing in individual name should continue to use the same UCN even on forming Proprietary concern.
   • Any partnership firm who has been allotted UCN should continue to use the same UCN even on conversion to LLP.
5. ExperienceMember will be considered to have such experience only if he/she has signed the Audit Report/conducted the Audit. The experience gained in the capacity of Articled/Audit Assistant or paid employee/assistant is not to be included while mentioning the audit experience in MEF.
   1. Bank Audit Experience MEF Panel (including Bank Branch Auditors’ Panel)
      • Experience of branch audit of a Public sector Bank (PSB) or a Private sector Bank (PVB) is to be mentioned. (The experience of Statutory Central Audit of J & K Bank will also be reckoned as Public Sector Bank Audit experience.)
      • If applicant has audited both Public Sector Banks and Private Sector Banks in the same year, then experience will be counted as 1 year only.
   2. Additional Parameter – Audit Experience – NABARD Panel for Appointment / Re-appointment of Statutory Auditors of State Co-operative Banks and Central Co-operative Banks.
      • Audit experience shall mean experience of the audit firm as Statutory Central / Branch Auditor of Commercial Banks / UCBs / NBFCs (including HFCs) / AIFIs / Statutory Auditor of StCBs / CCBs / RRBs.
      • In case of merger and demerger of audit firms, merger effect will be given two years after merger, while demerger will be given effect immediately.
      • If applicant has audited more than one amongst the above- mentioned entity in the same year, then experience will be counted as 1 year only.

      Please refer to detail guidelines dated 15.01.2024 for Appointment / Re-appointment of Statutory Auditors of State Co-operative Banks and Central Co-operative Banks for further clarification.

6. Professional Staff
   • For MEF panel (including Bank Branch Auditors’ Panel)Professional Staff(excludes typists / stenographers / computer operators / secretary/ies and subordinate staff, etc) implies audit and articled clerks with knowledge in book-keeping and accountancy and are engaged in audit.
   • For NABARD – Panel for Appointment / Re-appointment of Statutory Auditors of State Co-operative Banks and Central Co-operative Banks:Professional staff includes audit and article clerks with knowledge of book-keeping and accountancy and who are engaged in on-site audits but excludes typists / stenos / computer operators / secretaries / subordinate staff, etc. There shall be at least one year of continuous association of professional staff with the firm, as on 1st July 2024 for considering them as professional staff.Please refer to detail guidelines dated 15.01.2024 for Appointment / Re-appointment of Statutory Auditors of State Co-operative Banks and Central Co-operative Banks for further clarification.
7. Full Time Paid Chartered Accountant employee
   1. For MEF Panel (including Bank Branch Auditors’ Panel) A Member is treated as Full Time Paid Chartered Accountant Employee with the Firm if:
      1. He/She is active member on July 1, 2024, until the date of the second verification.
      2. He/She is not Partner/Proprietor in any other Firm(s) on July 1, 2024, until the date of the second verification.
      3. He/She is not Practicing in Individual name on July 1, 2024, until the date of the second verification.
      4. He/She is not a full time/part time Paid Chartered Accountant Employee in any other Firm on July 1, 2024, until the date of the second verification.
      5. He/She is not employed full time/part time elsewhere on July 1, 2024, until the date of the second verification
   2. For NABARD – Panel for Appointment / Re-appointment of Statutory Auditors of State Co-operative Banks and Central Co-operative Banks:CISA / ISA / DISA Qualification – There shall be at least one-year continuous association of Paid CAs (with CISA / ISA / DISA qualification) with the firm, as on 1^st July, 2024 and continuing with the firm to consider them as Paid CAs with CISA / ISA / DISA qualification for the purpose.
8. Submission of Declaration
   • The Declaration for the MEF is to be validated with One Time Password (OTP).
   • OTP will be sent to the Email-id and Mobile Number as registered in SSP of ICAI. Any modification required in email or mobile number, has to be done in SSP and will be reflected in MEF on real time basis on click of the ‘Refresh Mobile and E-mail from SSP’ button in MEF’.
   • The Declaration will be valid only if OTP is validated by all the partners and proprietor, as the case may be. In case, the OTP is not validated by any partner/(s), the applicant may mention the reason thereof.Please note– The credit of such partner will not be given to the applicant.
   • OTP is not required in case of partner(s) who retires/expires before the date of submission of MEF provided the details of the same are updated in SSP database.
   • It is advisable that the draft MEF before submission should be shared with all the partners internally for their perusal so that they are able to validate the declaration through OTP.
9. Submission of Financial Documents
   • The Financial Documents are to be uploaded by all the Applicants of MEF (Firm and continuing Partners), failing which the application cannot be submitted.
   • The following Financial documents for Financial Year 2022-23 are to be submitted:Partnership Firms:
     • For Firms:
       • Complete Income Tax Return in JSON format;
       • Income Tax Return Acknowledgement in PDF;
       • Statement of Computation of Total Income of the Firm in PDF;
       • Balance Sheet as on 31^st March 2023 along with Schedules (if applicable) in PDF;
       • Income & Expenditure Account for the financial year 2022-23 along with Schedules (if applicable) in PDF.
     • For Partners:
       • Complete Income Tax Return in JSON format
       • Income Tax Return Acknowledgement in PDF;
       • Statement of Computation of Total Income of the Partner in PDF

     Sole Proprietor / Individual practicing in individual name:

     • Complete Income Tax Return in JSON format;
     • Income Tax Return Acknowledgement in PDF;
     • Statement of Computation of Total Income of the Member in PDF;
     • Balance Sheet as at 31st March 2023 along with Schedules (If applicable) in PDF;
     • Income & Expenditure Account for the financial year 2022-23 along with Schedules (If applicable) in PDF

   Applicants who have opted for Presumptive Taxation scheme under Section 44ADA of Income-tax Act, 1961 and have filed their ITR accordingly for the financial year 2022-23 need not submit Balance Sheet and Income & Expenditure Account.

   All the Financial Information shall be filled in absolute numbers only e.g. Gross Professional Receipts of the Firm of 2 Lakhs 56 thousand 2 hundred 56 rupees shall be mentioned as 2,56,256 and not as 2.56 lakhs.

10. Final Preparation of Panel: Important Points
    • In case any of the Partner(s))/ Paid CA retires / expires/ leaves between 1st July 2024 and the date of second verification the credit will not be given for such Partner(s).
    • The credit will not be given for those Partners/Paid CA who have joined after 1^st July 2024, even through merger.
    • In case, the Firm is closed/merged between 1stJuly 2024 and the date of second verification, the name of such firm will not be included in the Panel.
    • In case, the COP status of an individual applicant changes from full-time to Part-time/No COP from 1^st July 2024, and the date of second verification, such applicant will not be included in the Panel.
11. Complaint filing Mechanism
    • For any clarification / query / complaint regarding MEF 2024-25, please lodge the same under the tab “MEF Complaint Entry” available at meficai.org for quick resolution.
    • Query/ complaint can be lodged by using MRN / FRN by the Applicant and on successful lodging, a Complaint number will be generated which can be used for future references.
    • Applicant can view the status of complaints by using MRN/FRN.
    • In case, the complaint is not resolved within 3 working days, Applicant can write at mefpdc[at]icai[dot]in mentioning the complaint Number or call on the following numbers between 2 PM to 5 PM on all working days by quoting Complaint Number

    Ms. Priya Duggal/ Ms. Garima Khurana	92055 59866
    Mr. Manish Bhardwaj	92055 59865

12. Others
    • To calculate the Category as per Guidelines for appointment/ Re-appointment of Statutory Branch Auditors of PSB you may use calculator https://app.meficai.org/Cats.
    • PDC hosts draft MEF Panel generally in the month of October/November so that the applicants can verify. Information provided in MEF may be used by ICAI for the purpose of empanelment for professional work by C&AG, RBI, Public Sector Banks or other authorities. Applicant is required to give voluntary consent for the same and also undertake to comply with the provisions of Section 15 of the Digital Personal Data Protection Act, 2023 (DPDP Act) and the Rules and Regulations made thereunder with regard to the duties of Data Principal. These Declarations have been provided in the MEF and the applicants are required to tick the boxes before these Declarations to confirm their consent.
    • The Institute reserves right to call for additional information / documents from the Applicant as may be considered appropriate.
    • While all efforts are being taken in preparing the panel, in the event of any inadvertent mistake or omission, the Institute will not be responsible in any manner.
    • The Institute does not undertake any responsibility with regard to the allotment of audit.
    • Any modification in MEF will be accepted in compliance with the MEF/RBI/ NABARD Norms applicable at the time of preparation of the Panel.
    • Members are advised not to correspond directly with the authorities concerned like RBI, NABARD, etc. on matters related to empanelment.

Professional Development Committee

(Republished with amendments)