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 2023-24, 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, 2024, and beyond. Last date for submission of online Form is 6^th October, 2023. 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 2023-24

Professional Development Committee (PDC) is pleased to host the Multipurpose Empanelment Form (MEF) for the year 2023-24, which is available at www.meficai.org. Before filling the MEF, Members are advised to go through the Advisory.

Registration / Login Credentials

Existing Applicants: Applicants of MEF 2023-24 can login with MEF 2022-23 credentials. If you have forgotten the password, go to “Forgot Password” button to retrieve the password.

New Applicants: Please register by using :

• • FRN & Date of Establishment if Applicant is a Partnership Firm/LLP/Proprietary Concern
  • MRN & Date of Birth if Applicant is an Individual.

In our continuous efforts to improve the MEF processes, we have introduced a new feature known as the “Category Calculator” which is available at https://app.meficai.org/Cats. This feature will help you to know the Category as per the revised norms of RBI dated 6^th March, 2023.
Last date for submission of online Form is 6^th October, 2023.

Professional Development Committee, ICAI

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Annex 1A

♦ Eligibility norms for the empanelment of audit firms to be appointed as Statutory Branch Auditor of Public Sector Banks for audits of the year ending March 31, 2024, and onwards

Category	No. of CAs exclusively associated* with the firm (Full time)	No. of partners exclusively associated* with the firm (full time) (Out of 2)	Professional staff#	Bank audit experience	Standing of the audit firm@
(1)	(2)	(3)	(4)	(5)	(6)
Category I	5	3	8	The firm or at least one of the partners should have a minimum of 8 years’ experience of branch audit of a public sector bank (PSB) or of a private sector bank (PVB).	8 years
Category II	3	2	6	The firm or at least one of the partners should have conducted branch audit of a PSB /PVB for at least 5 years.	6 years (for the firm or at least one partner)
Category Ill	2	2	4	The firm or at least one of the CAs should have conducted branch audit of a PSB /PVB for at least 3 years	5 years (for the firm or at least one partner)
Category IV
Partnership firm	2	2	2	Not necessary	3 years
Proprietorship concern	2	1	2	Not necessary	6 years
Proprietorship concern	1	1	2	The proprietor should have conducted branch audit of a PSB /PVB for at least 3 years	6 years

* The definition of ‘exclusive association’ will be based on the following criteria:

(a) The full-time partner should not be a partner in other firm/s

(b) She/He should not be employed full time / part time elsewhere

(c) She/He should not be practising in her or his own name or engaged in practice otherwise or engaged in other activity which would be deemed to be in practice under Section 2(2) of the Chartered Accountants Act, 1949

# Professional staff (excluding 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

@ The standing of an audit firm would be reckoned from the date of its establishment. For a proprietorship, the period for which the proprietor has been holding a Certificate of Practice issued by the ICAI shall be reckoned for standing.

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♦ Advisory for Multipurpose Empanelment Form 2023-24

Last date for submission of online Form and Declaration is 6th October, 2023.

1. Eligibility for filing MEF

• Partnership/LLP Firms which are in existence as on 1st July, 2023.
• Proprietary Firms which are in existence as on 1st July, 2023.
• Member holding Full-time Certificate of Practice as on 1st July, 2023 and practising in individual name.

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 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, but once submitted, cannot be edited.

3. Important Parameters of Credit Scaling in MEF

• The Applicant will get the credit of the partner/proprietor only if she/ he is exclusively associated with the Applicant from 1st July, 2023 to the date of second verification.
• The second verification is subsequent verification of the records of the Member/Firm as on 1st July of the respective year with the latest SSP (Self-Service Portal) records which is normally in the month of October.
• The Applicant applying in individual capacity will get the credit only if she/he is exclusively associated from 1st July, 2023 to the date of second verification.
• Out of the multiple firms with Common Partners, only one firm can apply for Bank Branch Auditors’ (BBA) Panel. In case both / all the firms apply, the MEF of all these firms will be rejected for Bank Branch Auditors panel.
• In case, the firms are having common partner(s)/proprietor(s) as on 1st July, 2023 and only one firm applies then the same will be eligible but the credit of common partner(s)/proprietor(s) shall not be given.
• 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.
• Members associated with more than one entity as indicated below even for any one day from 1st July, 2023 to the date of second verification will not be treated as exclusively associated with the Applicant:
  • Member is not holding full time CoP
  • Proprietor/Partner is also having Sole Practice (Individual)
  • Proprietor having more than one Proprietary Concern
  • Partner/Proprietor/Sole Practitioner is in employment
  • Proprietor/Partner is also partner in any other concern

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 1st July, 2023.

• Any Member who has been allotted UCN while practicing in individual name should continue to use the same UCN even on forming proprietary firm.

5. Experience of Bank Audit

• Experience of Bank Audit as Statutory Auditor of a Branch of a Public Sector Bank or of a Private Sector Bank with deposit of not less than Rs. 500 Crore of the Bank as a whole (and not that of a Branch) 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.
• Member 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.

6. 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.
• The Declaration will be valid only if OTP is validated by all the partners/ proprietor/ Member practicing in individual name. In case, the OTP is not validated by any partner/(s), the applicant may mention the reason thereof. However, the credit of such partner will not be given to the applicant.
• OTP of the partner who retires between 1st July 2023 and the date of submission of MEF is not required if it is updated in SSP database.

• It is desirable 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

7. Submission of Financial Documents

• The Financial Documents are to be submitted by all the Applicants of MEF (Firm and continuing Partners), failing which the application cannot be submitted.
• The Applicants are required to upload the financial documents before the submission of MEF by clicking on the icon.
• The following Financial Documents for Financial Year 2021-2022 are to be submitted:

Partnership Firms:

• For Firms:
  • Complete Income Tax Return in JSON format
  • Income Tax Return Acknowledgement
  • Statement of Computation of Total Income of the Firm
  • Balance Sheet as on 31st March 2022 along with Schedules
  • Income & Expenditure Account for the financial year 2021-2022 along with Schedules.
• For Partners:
  • Complete Income Tax Return in JSON format
  • Income Tax Return Acknowledgement
  • Statement of Computation of Total Income of the Partner
• Sole Proprietor / Individual practicing in individual name:
  • Complete Income Tax Return in JSON format
  • Income Tax Return Acknowledgement
  • Statement of Computation of Total Income of the Member
  • Balance Sheet as at 31st March 2022 along with Schedules
  • Income & Expenditure Account for the financial year 2021-2022 along with Schedules

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 2021-2022 shall select the respective tab in Financial Documents page. Such Applicants need not submit Balance Sheets 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.

8. Final Preparation of Panel for Bank Audit

• The credit for only the continuing partners from 1st July 2023 to the date of second verification will be given.
• In case any of the Partner(s) retires / leaves between 1st July 2023 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 who have joined after 1st July 2023, even through merger. However, credit for those partners will be given next year, if continuing in the same firm.
• In case of any paid Chartered Accountant Employee resigns between 1st July 2023 and the date of second verification and another paid Chartered Accountant Employee joins during the same period, credit will be given to such paid Chartered Accountant Employee.
• In case, the Firm is closed/merged between 1st July 2023 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 1st July 2023 to the date of second verification, such applicant will not be included in the Panel.

9. Complaint filing Mechanism

• For any clarification / query / complaint regarding MEF 2023-24, 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@icai.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	92055 59866
Mr. Manish Bhardwaj	92055 59865

10. Others

• To calculate the Category you may use calculator https://app.meficai.org/Cats.
• PDC hosts draft MEF Panel generally in the month of November so that the applicants can verify.
• 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 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.

With kind regards,

Chairman	Vice-Chairman
Professional Development Committee	Professional Development Committee