Punjab & Sind Bank Concurrent Audit application has been invited from interested Chartered Accountant Firm for Bank Branches for the Financial year 2023-24
The last date for submission of online application is 09.07.2023
List of Branches for Reapplication>>
The following criteria should be adopted while selecting a firm for concurrent audit assignments:
1. The Chartered Accountants firm should preferably be a partnership firm with at least one FCA partner.
2. The firms should preferably be selected from the RBI panel as per gradation suggested for Branch Statutory Auditor appointment
3. The firms should preferably have qualified Information System Auditor (CISA/DISA) qualification.
4. The firms should have been established for at least 3 years prior to the date of application. The audit firm or any sister / associate concern / network firm should not have been debarred/de-paneled and is not conducting the statutory audit of the Bank or any of its Branches.
5. The present fee for concurrent audit ranges from Rs.14000/- to Rs. 35000/-.
6. The tenure of the concurrent audit would be initially for one year and may be extended for a further period of TWO years (overall THREE years) subject to satisfactory performance. However, after having conducted concurrent audit for THREE years continuously, the concerned CCA will be given one year break (cooling period), before reappointing them.
7. It is to be ensured that:
8. Preference should be given to those firms who have adequate exposure in conducting concurrent audit of the Bank branches of Public Sector / major Private Sector Banks.
9. The firms should preferably have necessary office set up within same city or periphery of the allotted branch/office and adequate personnel to ensure proper deployment and timely completion of the assignments.
10. In addition to above, the audit firms shall:
11. Since large number of on-line applications is received for limited number of branches identified for concurrent audit, as such, no communication will be sent by the Bank and no correspondence will be entertained in respect of firms, which are not being selected.
12. The CCAs who are allotted the AD Branches, they must provide the certificate for checking the SWIFT messages with Finacle as well as compliance of FEMA guidelines.
13. All New advances/ amendments are to be checked with the TIPS menu in Finacle.
14. The monthly report should reach by 7th of next month to the Branch, Zonal Office and Zonal Inspectorates. In addition to that quarterly concurrent audit report should reach the Head Office by 15th after close of the quarter
15. The applicant is mandatorily required to submit the followings through speed-post/courier. Please note that scan copies sent through mail are not acceptable & may result into cancellation::
Latest by 10.07.2023 to:
Assisstant General Manager
Punjab & Sind Bank
HO. Inspection Department
Staff Training College,
3rd Floor, Institutional Area, Plot No. 3
Sector 3, Rohini, Delhi – 110085
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