UTTAR BIHAR GRAMIN BANK
Head office: Kalambagh Chowk, Muzaffarpur [Bihar]
To be uploaded on the website of UBGB Annexure-II
APPLICATION ARE INVITED FOR ASSIGNMENT OF CONCURRENT AUDIT IN UTTAR BIHAR GRAMIN BANK, HEAD OFFICE, MUZAFFARPUR (BIHAR)
Applications are invited from Chartered Accountant Firms offline for assignment of Concurrent Audit at Head Office of the Bank, situated at Muzaffarpur, Bihar.
The following terms and conditions shall be applicable for appointment of Chartered Accountant Firms as Concurrent Auditors:
01. The firm should be either a proprietorship or a partnership having Chartered Accountants as proprietor/ partner(s).
02. The eligibility criteria will be as under:
Professional standing: more than 03 years
Partnership/ proprietorship Firms only, of which FCA/s at least: 01.
Experience - Minimum 01 public sector Banks as Concurrent Auditors or Statutory Auditors.
(Experience of the Firm only as Statutory and Concurrent Auditor is to be taken and not that of individual partner shall be counted).
03. 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 inquiry is pending, initiated, or contemplated by the Institute as on the date of application as well as date of acceptance of the assignment. They should not be blacklisted in the Central Bank of India or in any other financial institution.
04. Where there are a group of firms of Chartered Accountants having common partners, only one of the firms in the group will be eligible for the assignment of Concurrent Audit.
05. The tenure of Concurrent Auditor shall be for one year as approved by the Board. The tenure may be extended on the basis of performance at the discretion of the Board of the Bank. However, in case the performance of the Concurrent Auditor falls short of the expectation of the Management, the Concurrent Auditors may be replaced at any time. The performance of Concurrent Auditors will be monitored by the Regional Offices on a monthly basis who will after scrutinizing the monthly concurrent audit reports, submit the rating at the end of every month to Audit & Inspection Department, Head Office for review.
06. Besides Chartered Accountant, the firm should have other qualified and other experienced staff, infrastructure, and offices within an approachable distance from the location of the Head Office of UBGB to undertake Concurrent Audit.
07. The firm which conducts the Statutory Audit of Uttar Bihar Gramin Bank shall not be considered for appointment as Concurrent Auditor by the Bank during that year and the next year.
08. The firm which has a partner/ proprietor who is also a partner/proprietor of the firm entrusted with the Statutory Audit of Uttar Bihar Gramin Bank shall not be considered for appointment as Concurrent Auditors in Uttar Bihar Gramin Bank. In other words, sister/associate concerns of the firm carrying out Statutory Audit of Uttar Bihar Gramin Bank shall not to be considered for appointment as Concurrent Auditors.
09. If any of the Directors of Uttar Bihar Gramin Bank is a partner/proprietor in a firm, such firm shall not be considered for appointment as Concurrent Auditor.
10. The Concurrent Auditor shall not be entitled for any additional benefits or perquisites, apart from schedule of fee for Concurrent Audit as per point no. 20.
11. In case, the performance of the Concurrent Auditor fall short of expectation of Management or the Audit Committee of the Board, the Bank may terminate assignment of the Concurrent Auditor at any time.
12. If any serious acts of omission or commissions/ malafide intention are noticed in the working of Concurrent auditors, their appointment may be cancelled and the fact may be reported to NABARD & ICAI.
13. After completion of assignment, the Firm may be considered for audit assignment in other branches. This will be purely at the discretion of the Bank and no rights whatsoever shall accrue to the Firm for such appointment.
14. In normal course, at any one point of time, not more than one audit assignment would be awarded to a firm. An audit assignment that needs to be carried out across the branches / units at different locations would be considered as a single assignment for this purpose.
15. The Concurrent Audit should be conducted on daily basis (on all working days) by audit assistant. The partner/proprietor shall visit branch at least for 6 days in a month for respective allotted branches.
16. The assignment of concurrent audit given by us should not be given to anybody on subcontract basis.
17. Mere submission of application for Concurrent Audit and fulfilling the criteria thereof does not, in any way, constitute guarantee for assigning any type of audit of the Bank.
18. Allotment will be made for vacancies existing and no correspondence shall be entertained in the matter. Application received shall be valid for only one process.
19. If Firm or partner are availing any credit facility(s) from any branch of Uttar Bihar Gramin Bank or have guaranteed any credit facility, please furnish the following information:
Name of the partner:
Name of Bank’s Branch:
Nature of dealing/facilities:
Banking since with A/c No.:
20. Fee for Concurrent Audit: Rs.14,000.00 per month + service tax(GST). GST is payable by the Bank separately provided the Firm furnishes the GST registration no./ TAN no. etc. TDS shall be deducted at source as per rule.
21. The Firm has to submit following papers at the time of apply (offline):
01. Duly filled in Application form (2) Copy of Registration of the Firm (3) Copy of qualification of each partner issued by ICAI (4) Copy of PAN of the Firm (5) Copy of PAN of the partner (6) Address proof of the Firm (7) Address proof of the partner (8) Copy of registration with Central Excise Deptt ( Service tax registration) (9) Certificate of practice (10) Copy of experience of audit as Statutory Audit & Concurrent audit.(11) Certificate related to GST No. [All papers should be self certified]. If we do not receive complete set of documents in a single lot as mentioned above, assignment will stand cancelled automatically without showing any reason thereof and no correspondence will be entertained on this issue.
22. The CA Firm is required to undertake Concurrent Audit of all functional departments on rotational basis but Audit of department dealing with investment & treasury transactions is Must in each month. The Firm has to furnish certificate for CRR, SLR, DEAF, AML, Govt. securities, Non-SLR Investment, exposure norms, Bank FDR, treasury related transactions & certificate etc to department/ Bank on quarterly/ half quarterly end or as and when required by the Bank.
23. A&I Department, Head Office shall provide a detailed checklist, other operating guidelines and structured formats for the audit report/ certificate with assignment letter. The report is to be submitted in time before 05th working day of the succeeding month. Delay in submission of the report and shall be considered while evaluating the performance of the CA Firm.
24. If above terms and conditions are acceptable then an only hard copy of the application should be submitted so that the application along with all required papers may be received by us by 05.05.2020 on address: General Manager (A&I), Uttar Bihar Gramin Bank, Head Office, Sharma Complex, Kalambagh Chowk, Muzaffarpur, PIN- 842 001 (BIHAR).
(Mahendra Kumar)
General Manager
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