Allahabad Bank Concurrent-Revenue Audit FY 2017-18 2018-19 Empanelment

Allahabad Bank Concurrent-Revenue Audit FY 2017-18 Application

Empanelment for the Year 2018-19 Click Here >>

1. Allahabad Bank invites applications in the under noted prescribed format from practicing firms of Chartered Accountants of India who are willing to have their firm empanelled as Concurrent / Revenue Auditor in the Bank.

2. The panel of auditors maintained last year (including existing concurrent auditors) since expired and will not be further used. Hence, all the concurrent auditors selected earlier have also to apply afresh for the empanelment process.

3. The Bio-data should be submitted in the under-noted format to the Dy. General Manager, Inspection Deptt, Concurrent Audit Cell, Head office, Fourth Floor, 14, India Exchange Place, Kolkata –700001 only by Reg. or speed post / courier.

4. “Application for empanelment for Concurrent & Revenue Audit-2017-18” should be mentioned on the envelope carrying Bio-data

5. Mere submission of application does not, in any way, constitute guarantee for allotment of any audit job from the bank. After empanelment, the work will be allotted as & when need arises at the sole discretion of the Bank.

6. The following type of audit firms are not required to submit their Bio-data:

(a) if Firm / it’s proprietor / any partner has been disqualified / depanelled or whose appointment has been terminated by RBI/ ICAI/ Bank / any other Bank on an earlier occasion.
(b) Audit firms who have conducted statutory audit of Allahabad bank branches for the year 2016-17.
(c) Associate concerns of Audit firms who have conducted statutory audit of Allahabad bank branches for the year 2016-17, defined as under by RBI: “Associate concerns means any corporate body or partnership firm wherein the proprietor and/or partner(s) of the statutory audit firm and/or their relative(s) is/are Directors or partners and/or jointly or severally hold 20% or more of the interest in the corporate body or partnership. “Relative” for this purpose will mean the spouse or any lineal ascendant or descendant of the proprietor or partner of the statutory audit firm.”

7. If the space provided for against any item in the Bio-data format is not sufficient, details may be furnished in a separate sheet.

8. All enclosures must be attested as true copy under seal by the proprietor / at least one partner ( in case of partnership firm)

9. The Bio data form should be signed by all partners.

10. Any change in the Bio-data format will result in rejection of the same.

10. The last date for receipt of Bio-data is 05th August, 2017. Please dispatch Bio – Data in such way that it must reach to above address (mentioned at point no. 3), latest by 05th August 2017 positively. Please note that application received thereafter will not be entertained.

The selection and eligibility criteria of Concurrent Auditors will be as under:

a. The firm should be selected from the RBI panel of CA Firms as per the gradation suggested for Statutory Branch Auditor appointment
b. The firm should preferably be a partnership firm of Chartered Accountants.
c. One of the Auditors (any of the partner or employed CA) should be qualified as CISA / DISA with necessary exposure to the Systems Audit.
d. Weight age to be given to the firms, where the partners themselves are ex-bankers or the firm has got tie-up with ex-bankers with requisite experience and exposure.
e. It is to be ensured that the audit firm or any sister / associate concern / network firm is not conducting the Statutory Audit of the Bank or any of its Branches.
f. Weight age to be given to a firm having exposure in conducting Concurrent Audit of the Bank Branches of a few public sector / major private sector Banks.
g. The firm should have necessary office set up and adequate personnel to ensure proper deployment and timely completion of the assignments..

12. Concurrent Audit has been implemented ON LINE. The Concurrent Auditors have to report on line as per guided instructions. Concurrent Auditor has to generate tickets in check list on line system on regular basis i.e. on date of observation of irregularity / deficiency. Deviation from the above reporting system will be treated as non compliance.

13. Concurrent Audit Fee Structure :

Branches with total Business as on 31st March 2016 Audit Fee (in Rupees, Per Month`)
Service Branches /CPH/HUB/Back Office/HO Dept 12000
Up to Rs.50 Cr with Credit outstanding of Rs.15 Cr & above 12000
Above Rs.50.00 to Rs.100 Cr 13000
Above 100 Cr to 150 Cr 14000
Above 150 Cr to 200 Cr 16000
Above 200 Cr to 500 Cr 18000
Above 500 Cr to 1000 Cr 20000
Above 1000 Cr & FCTM 25000


1) Rating of the Concurrent Auditors’ performance be done as under: –

Sl Indicative parameters Allotted Marks Zone
1 Branch Attendance 20  
2 Submission of Report (timeliness) by mail 20  
3 Reporting format and coverage 20  
4 Quality of report 20  
5 Visit/verification/authentication 20  
6 Stock Audit/Stock verification/end use/asset creation 20  
7 Comments on documentation, charge creation & reporting 20  
8 Revenue leakage & recovery (eligible above Rs.50000/ only) 10  
9 KYC/Cash/Security items/SBI balance/Flabby assets 20  
10 Spot Rectification 60  
11 ZTL and FSI of the branch 20  
12 Improvement if rating percentage 20  
13 Comments on FEX business wherever applicable 10  
14 Liaison and relation with the branch / ZO 10  
15 Submission of Special Report/fraud/flagging of alerts etc. 10  
  Total 300  

Evaluation :-

Category Average marks Incentives
Excellent 80% and above
  • Will be renewed for next year
  • Deserved motivation and should be encouraged with other assignments if otherwise is eligible.
  • Special job may be assigned during cooling period on merit and eligibility as per norms
Good 60 to less than 80%
  • May be considered for second year, if other suitable auditors are not available
  • Preferably no other assignments will be allowed
Fair/average Less than 60%
  • Preferably not to be continued for second year

Negative Scoring
If revenue leakages/fraud/special Reports/non adherence of internal control system, High level of slippage without any prior information/ sanction of advance beyond MDA or without reporting in NPA, persisting irregularities of previous audit and not reported etc. will attract negative scoring and may lead to terminal of empanelment.

Download Bio data Format for FY 2017-18 Click Here >>

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One Response

  1. Shalini pandey January 5, 2019

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