Empanelment for concurrent audit in central bank of India 2014

Central bank of India has invited applications from Chartered Accountant firm for empanelment for concurrent audit in central bank of India for year 2014.

The firm should fulfill following conditions to apply for empanelment for concurrent audit in central bank of India:

1. The firm may proprietary or partnership firm.
2. The firm is empanelled with RBI Panel 2013-14.
3. The firm or its partner have not been subject to any inquiry by ICAI or no inquiry is pending as on date of application or date of assignment.
4. The firm should be qualified as auditor in terms of section 141 of companies act, 2013.
5. When there are groups of partners, only one of the firms of group is eligible for assignment.
6. The firm will be assigned only one branch for concurrent audit of bank.
7. The firm should have qualified and experience staff, infrastructure and office within appropriate distance from auditee branch.
8. The firm have not conducted statutory audit of central bank of India during 2012-13 and 2013-14.
9. Associate concern’s assignment of statutory audit shall not be considered for empanelment of concurrent audit.
10. The firm should not have professional or commercial relationship either direct or indirect with borrowers or beneficiary of the bank branch under audit and shall not conduct those relations for minumum period of three years.
11. No director of central bank of India should be partner or proprietor in applicant CA firm.
12. If performance of firm is not proper, bank can replace concurrent auditor at any time.
13. It is preferable that partner/proprietor who is conducting concurrent audit has completed course on concurrent audit, conducted by ICAI.
14. Remuneration for concurrent audit ranges from Rs. 13500 to Rs. 55000 per month depend on business figures of branch as on 30/9/2014.
15. Please download file attached below the post to read more conditions.

Application procedure:

1. Application will be accepted through online mode only.  Click to apply
2. Relevant documents should be submitted after receiving mail by bank within 15 days.
3. Last date for online application is 15/12/2014 till 5.00 p.m.
4. Selected firms shall be informed on or before 25/12/2014 by email. A printout of mail duly signed by the firm is to be sent to respective zonal office of bank.
5. Bank can change assignment at any time at any stage and bank’s decision will be final.

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