Bank of Baroda Concurrent Auditor FY 2025-28 Empanelment. last date : 27/03/2025

Bank of Baroda Concurrent Auditor 2025-2028 Empanelment – RFP for appointment 

Bank of Baroda invites Expression of Interest for empanelment of Chartered Accountant firms, having office in village/ town/ city / district of Bank of Baroda’s identified branches/ units, for expansion of pool of CA firms for carrying out Concurrent Audit for period of -3- years from 01.04.2025 to 31.03.2028

Last Date of Submission of EOI Response (Closing Date) : 05.00 pm 27th March 2025
Mode:- Online
Link to apply: https://bobtenders.eproc.in

For helpdesk, please contact e-Tendering Cell and Help Desk Support Monday to Friday Ph: 0124-4302033/36/37, bobsupport@c1india.com

Bank of Baroda Concurrent Auditor 2025-28 Empanelment

1. The applicant firm should be a Chartered Accountant Firm (Partnership Firm or Limited Liability Partnership), registered with ICAI.

2. The applicant firm should be Category –I, II or III as per RBI grade as available on Website  www.meficai.org (latest). CA Firms with RBI grading IV are not eligible to apply.

3. The applicant firm should have carried out Concurrent Audit of Branch of any scheduled commercial bank for at least -1- year during last five financial years. (Note: For the purpose of eligibility criteria compliance, ‘scheduled commercial banks’ in India excludes Regional Rural Banks, Co-operative Banks, Small Finance Banks & Payment Banks.)

4. The applicant firm should have minimum of -1- CISA/ DISA qualified CA partners/ CA Qualified permanent staff as per ICAI certificate of Registration.

5. The applicant firm should not have been black listed/debarred by any Government Financial Institutions/ Banks/ RBI/ ICAI/ IBA/ Government/ Semi Government Departments/ PSUs in India/ NFRA

6. The CA Firms already empanelled as Concurrent Auditors (vide EOI:116:1 dated 19.02.2024) are not eligible to apply.

7. One Firm is allowed to submit preference for -3- districts/ nearby districts. If one firm applies for more than -3- districts, the application of the firm will be rejected

8. As per Bank’s Policy, Tenure of External Concurrent Auditor with Bank shall not be more than five years on continuous basis. Minimum one year cooling period will be applicable for same set of Branches after completion of three year period and also on completion of five years.

9. The CA Firms engaged for carrying out Concurrent Audit in any other Zone / Group of Bank and their engagement period is not coming to end on 31.03.2025 are not eligible to participate

The allocation of branches to the selected CA firm will be initially for one year, with quarterly review of performance and may be extended annually for further two years (i.e. for total maximum period of -3- years) on existing terms / conditions and payment terms subject to satisfactory performance review and at the sole discretion of the Bank

All the supporting documents need to be submitted/ uploaded, duly indexed / numbered sequentially in the above order with respective eligibility criteria

Security Deposit payable by the Successful Applicant – The Selected Firm has to deposit with the Bank an amount of Rs. 50,000.00 towards security deposit for the entire period of the contract, within 15 days from the date of communication about selection of Firm by the Bank

Attendance: Firm has to deploy, dedicated Audit Assistant for each Branch / Other Unit having suitable qualification and adequate knowledge & experience for carrying out Concurrent Audit. The Audit Assistant is required to visit the Branch / other unit on all working days for full day. Pro-rata fees shall be deducted, in case Audit Assistant has not attended Branch / Other Unit for more than -3- days during the month. Bank has right to interview the personnel, to decide to deploy for this assignment or not. Bank shall reserve the right to seek the change of resource/ personnel at any point of time during the engagement. The ZIAD at any point of time is authorised to surprise check the attendance of the Audit Assistant/ CA Partner on any working day.

Download BoB RFP for Concurrent Audit 2024-27 Click Here >>

• AO is under an obligation to assign reasons for rejecting explanation of the assessee
• CBIC issues SoP for clearance of imported goods through Foreign Post Offices
• Sale deed executed with full knowledge of only part consideration paid, not void – SC
• No fault in serving notice to last known address when PAN data was not updated – ITAT
• Investment by firm through capital introduced by partners cannot be treated as unexplained