Union Bank of India Empanelment of Concurrent Auditors FY 2025-26 for Partnership CA Firms.
Union Bank of India invites applications from eligible/interested Chartered Accountant Partnership Firms for empanelment as Concurrent Auditors for conducting Concurrent Audit in the identified Branches / Offices for the financial year 2025-26
Last date for submission of Application: 10/02/2025 before 23:59 hrs
Terms and conditions for Appointment, Fee structure, Methodology for application/ selection, conducting audit/reporting and reviews of performance of the auditors are furnished in the empanelment document (Click here to view).
Eligibility Criteria:
(a) It should be a partnership firm of Chartered Accountants. However, where eligible partnership firms are not available, Proprietary Firms having Concurrent Audit Certificate, CISA/DISA, NISM DOCE, any other expertise may also consider .
(b) Firm should be Registered with ICAI having Registration number.
(c) Firm should be Registered with RBI having Unique Code Number.
(d) The Firm should have as partner/s Chartered Accountant/s who have undergone the “Certificate Course on Concurrent Audit of Banks” conducted by ICAI.
(e) The firms should have qualified Information Systems Auditor (CISA/DISA), with necessary exposure of System Audit since all functions of the Bank are computerized and therefore IS Audit should form an integral part of audit of the Bank.
(f) Auditing, Reporting and closure of reports 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.
(g) Firms which are under Cooling Period are not eligible for submission of applications online for empanelment.
(h) The audit firm or its associate concerns should not be conducting statutory audit of the Bank or any of its branches.
(i) 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.
(j) The Firm should not have any credit relationship with the Bank/branch other than borrowings against their own deposits/jewels.
(k) The Firms where partners are having NISM certified valid DOCE certificate also can apply for DP Branch. (If during tenure the certificate is expired immediately the partner shall qualify for a further period. No certificate of others will be accepted.
(l) Preference will be given to Audit firm having office in the same centre as that of Auditee Branch/Unit and experience of Concurrent Audit with Union Bank of India and/or Other Public Sector Bank.
(m) Firms with common partners should not submit applications separately. Such Firms should submit application on behalf of only one firm.
(n) 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.
Firms are not eligible to participate for empanelment process:
(i) If Firm / any partner has been disqualified / de-empanelled or whose appointment has been terminated by RBI/ ICAI/ Bank / any other Bank on an earlier occasion.
(ii) The Audit firm or its associate concerns should not be conducting Statutory Audit of Union Bank of India of any of its Branches/Offices/departments/Other Units etc.,. The Audit firm or its associate concern, whose Statutory Audit term is yet to expire may apply for Concurrent Audit empanelment provided concerned Audit firm or its associate concern sacrifices the Statutory Audit assignment. If any divergence is observed /noticed by the bank during the empanelment process such matter will be referred to controlling authorities such as ICAI/RBI etc. No further claims will be entertained by the bank “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.”
(iii) Any canvassing, influence or reference to appointment of audit firms will render the application invalid.
The formats of Letter of acceptance of terms and conditions, Undertaking letter, compliance to “ Dos and Don’ts,” Undertaking of Fidelity & Secrecy and an Undertaking for carrying out Due Diligence of employees to be sent by the shortlisted Auditors on receiving the intimation from the Bank are given in Notification.
Eligible / interested Chartered Accountant Firms who are agreeable to the terms & conditions, may apply online in prescribed format (Click Here to Apply) on or before 10.02.2025 before 23.59 hrs…..
Bank will not entertain any correspondence/ communication from the applying firms till selection of the firms is complete.
Please note that applications from the eligible / interested Chartered Accountant Firms shall be applied online only and manual applications shall not be entertained.
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