Concurrent audit empanelment with SBI

SBI has invited application for ¬†concurrent audit empanelment in some states. Concurrent audit empanelment details: The empanelment opportunity covers branches situated in the states of Delhi, uttrakhand, Rajasthan and some states of Uttar pradesh. SBI can include or exclude other branches for empanelment purpose. Chartered accountant firm or LLP should be listed on RBI panel. Experience should be considered for appointment.   Remuneration for concurrent audit: If you get concurrent audit empanelment, your firm will get following remuneration: Grade Deposit of branches Advances Remuneration 3 300 crore and above Less than 400 crore 25000 p.m. 2/3 – 400 crore and above 35000 to 50000 pm Additionally, 500 per month per account will be payable if the bank has fund and non fund basis exposure of more than 10 crore. The remuneration will be paid quarterly and no separate charges like travelling, taxes will be paid separately. Scope of concurrent audit: Compliance with RBI guidelines and guidance of FEDAI/ IBA. Compliance with ARAC norms. Reporting for compliance with RBI guidelines and if any activity is running which is prohibited by RBI. Compliance with banking regulation rules, 1949. Check compliance with norms in section 20 in banking regulation act for granting loan and advances against shares and other matters. Compliance of rule 20A , 24, 452 and 360 of banking regulation act. Verification of forex transactions. Compliance with any guidelines issued...

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