Odisha Gramya Bank invites applications for Concurrent Audit. Last date 20.07.2024

Odisha Gramya Bank invites applications for Concurrent Audit. Last date is 20.07.2024

Odisha Gramya Bank has invited applications from interested Chartered Accountants to be empanelled as external Concurrent Auditors w.e.f. 01.09.2024.

Eligibility Criteria 

Chartered Accountant Firms having the following eligibility criteria may apply for external auditors for conducting Concurrent Audit of the Bank .

1. The Firm should be either a proprietary or a partnership firm having Chartered Accountant(s) as proprietor/partner(s) and already in the panel of the RBI which is circulated among the Banks for statutory audit of the Banks from time to Registration of the Firm with RBI is mandatory.

2. The Firm or its proprietor/partners have not been the subject of inquiries in the past by the Institute of Chartered Accountants of India as per the provisions of section 21 of the Chartered Accountants Act, 1949 and no such enquiry is pending, initiated or contemplated  by the Institute as on the date of application as well as date of acceptance of assignment.

3. Where there are group of Firms of Charted Accounts having common partners, only one of the Firms in the group will be eligible for assignment of concurrent audit.

4. The existence of the Chartered Firms must be for minimum period of 3 years.

5. They must have past experience of conducting concurrent audit in

6. They are not in the existing panel for Statutory Audit work of the bank for 2024-25.

7. The Chartered Firms should have their headquarter/branch office within the operational area of  Odisha Gramya Bank e. 13 districts at present.

8. Selection of the Firms is the sole discretion of the Bank .

9. CA Firms in preparedness to conduct concurrent audit in the Bank w.e.f. 01.09.2024.

10. The selected firms will be paid @7500/- per month per branch for conducting concurrent audit. They are not entitled for any additional benefits or perquisites.

11. Each auditing Firm shall be entrusted with maximum 4 branches to conduct monthly concurrent audit for a period of 12 months, may be extended further subject to satisfactory performance with a review after 12 months.

12. The concurrent audit should be conducted minimum 10 working days by the Auditor in a month per branch by visiting allotted branch office .

13. Bank has implemented risk based concurrent audit and risk based internal So the firm need to conduct audit online in Ethic programme/ in the computerized system.

14. Concurrent audit will commence w.e.f 01.09.2024 for selected branches and the audit report (three copies) need to be submitted within the first week of abcaus.in the succeeding month to the audited branch with the bill.

15. The interested Firms must apply to the bank in the following address giving details on the following points along with supporting documents viz: Name of the Firm, Name of the owner, office address, address for communication with telephone no, date of establishment and details of experience on bank audit PAN, GSTI, RBI registration No, ICAI registration no, constitution of firm in the prescribed format by registered post only.

‘General Manager  (Inspection),
Odisha Gramya  Bank, At- Gandamunda,  

16. The last date of receiving applications from the interested Firms is 20.07.2024 by 5 p.m. The application received through email will not be accepted.

Download Format of Application for Concurrent Audit Click Here >>

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