H.P. State Cooperative Bank Ltd invites applications from CA firms for concurrent audit for FY 2024-25
EOI for Selection & Empanelment of Chartered Accountant Firms for Concurrent Audit of Bank’s Branches for FY 2024-2025
The H.P. State Cooperative Bank Ltd. has invited applications from practicing firms of Chartered Accountants within Himachal Pradesh, in the prescribed format, who are willing to have their firms empanelled as Concurrent Auditors of the Bank for the FY 2024-25 i.e. from 01.10.2024 to 31.03.2025. Concurrent Audit is to be done on daily basis.
Last Date of Submission of Application: 16.09.2024
Eligibility criteria for empanelment:
(i) Preference shall be given to the Chartered Accountant firms having qualified Information System Auditor (CISA/DISA).
(ii) Audit firm should not have been disqualified by any Bank IBA/RBI/ICAI, while taking-up audit work on earlier occasions.
(iii) The audit firm has not been conducting the Statutory Audit of the Bank or any of its branches consecutively for the last three years.
(iv) The firm must have office set up and adequate personnel to ensure proper deployment and timely completion of the assignments. Preference would be given to CA firms which are located at the places near to Bank’s Branches to be allotted for concurrent audit.
(v) A declaration to be furnished by the firm that credit facilities availed by the firm or partners of firm or partners of firm in which they are partners or directors, including any facility availed by a third party for which the firm or its partners are guarantor/s, have not turned non-performing asset or are existing non-performing assets, as per the prudential norms of RBI. In case such declaration is found incorrect, the assignment would be immediately terminated, besides the firm being liable for any action under ICAI/RBI/IBA guidelines.
(vi) Any other terms and conditions of the assignment as decided by the Bank from time to time.
Auditor’s Remuneration:
The fee structure would be as under:
| Sr. No. | Business level of branches | Fee per month |
| 1. | Up to ₹25 crores | ₹12000+ 18% GST |
| 2. | Above ₹ 25 crores | ₹15000+ 18% GST |
| 3. | Above ₹ 500 crores | ₹24500+ 18% GST |
GST as admissible under the relevant Rule shall be paid. No out of pocket expenses or travelling allowance/halting allowance would be paid to the Concurrent Auditors. However, GST would be paid as applicable in addition to the Audit Fee. The payment to Concurrent Auditors would be subject to TDS at the applicable rates.
Submission of application:
Hard copy of complete application in the prescribed format be sent at the following address in a sealed cover by 16.09.2024 after the publication of notice in the newspaper:-
The Assistant General Manager
Compliance & BRCTL Section, Head Office,
The H.P. State Cooperative Bank Ltd.
SDA Complex, Block No. 18,
Kasumpti, Shimla-171009 (H.P.)
Contact No: 0177-2622100
Email :brctl@hpscb.com
The envelope should be superscribed with “APPLICATION FOR EMPANELMENT FOR CONCURRENT AUDIT”. Only hard copy of the application will be accepted and the applications reaching us after 12 days of the publication of notice in the newspaper will not be considered for empanelment/selection.
Download copy of Expression of Interest Click Here >>
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