Andhra Bank Concurrent audit Online Empanelment of CA Firm FY 2020-21. last date for submission of application online is 29.02.2020.
Andhra Bank invites applications in the prescribed format from practicing firms of Chartered Accountants who are willing to have their firm empanelled as Concurrent Auditor with Andhra Bank. Only one application should be submitted ONLINE.
Empanelment would be valid up to 31st March 2021. The Bank may allot the Concurrent Audit assignment during empanelment period as and when there is a requirement
APPLICATION FORMS NEED NOT BE PRINTED AND SENT TO THE BANK. OLD SYSTEM OF FORWARDING PRINTED APPLICATION ALONGWITH CERTIFICATES AT THE TIME OF ONLINE SUBMISSION TO BANK HAS BEEN DISPENSED WITH. HOWEVER, IT IS MANDATORY FOR APPLICANT TO SUBMIT DULY SIGNED APPLICATION FORM AND OTHER REVELVANT DOCUMENTS AS AND WHEN ADVISED BY THE BANK.
Last date for filing of Online Application is 29.02.2020, before 24:00 hrs
|1||Firm should be a partnership firm of Chartered Accountants.|
|2||Firm should be Registered with ICAI having Registration number|
|3||Firm should be Registered with RBI having Unique Code Number|
|4||The Firm should have as partner/s Chartered Accountant/s who have undergone the “Certificate Course on Concurrent Audit of Banks” conducted by ICAI.|
|5||The firms should have as partner/s qualified Information System Auditor (CISA/DISA) with necessary exposure to systems Audit.|
Preference will be given to firms where the partners themselves are ex-Bankers or the firm has got tie-up with ex-Bankers or has ex-Bankers as its employee, with requisite experience and exposure.
The firm should have necessary office set-up and adequate personnel to ensure proper deployment and timely completion of assignments.
Firms with common partners should not submit applications separately. Such Firms should submit application on behalf of only one firm.
Auditing and Reporting is to be mandatorily done through on line Web Based Audit Management Solution (eTHIC Package) and hence Concurrent Auditor and audit assistant should be computer literate.
The Firm should not have any credit relationship with the Bank/branch other than borrowings against their own deposits/jewels.
The firm should not be subject to any of the disqualifications under Section 141 of the Companies Act, 2013 for being appointed as External Concurrent Auditors in our bank.
Whenever any of the partner of the Firm is related to any of the staff or director of the Bank, such relationship shall be specifically mentioned in the application.
Evaluation of CA firm for allotment of Concurrent Audit
The CA firm will be evaluated based on the following parameters Eligibility criteria as mentioned above.
- Preference will be given to Audit firm having office in the same centre as that of Auditee Branch.
- Experience of Concurrent Audit with Andhra Bank and/or Other Public Sector Bank.
- Weightage will be given to firms where the partners themselves are ex-Bankers or the firms has got tie-up with ex-Bankers/or has ex-Bankers as employees with requisite experience and exposure.
- Efforts will be made to allot the branches to the CA firms based on minimum category suggested by RBI and Internal Concurrent Audit Policy of Bank. However, in case CA firm of requisite category is not available in particular location, then Bank will select suitable CA firm either from lower or higher category.
Fees payable to Concurrent Auditors is based on the level of advances as of previous quarter ending in case of branches. Advances position as of December and June quarter ending shall be taken into account for fixation of fees while assigning the Concurrent Audit assignment during or after March and September respectively. However, in case of specialized units it is consolidated fee payable as mentioned below. GST will be paid extra.