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Monday, August 3, 2015

Allahabad Bank Concurrent Auditor Empanelment for 2015-2016

Allahabad Bank Invites Application from Chartered Accountants Firms for Empanelment as Concurrent Auditor/Revenue Auditor for the year 2015-2016. The application is to be given in the format prescribed by the Bank and it shall reach the Dy.General Manager, Inspection Deptt, Concurrent Audit Cell, Head office, Fourth Floor, 14, India Exchange Place, Kolkata –700001 only by postal service / courier. The last date for submitting application is 18th August 2015.


ELIGIBILITY CRITERIA FOR CHARTERED ACCOUNTANTS FIRMS

a. The firm should be selected from the RBI panel of CA Firms as per the gradation suggested for Statutory Branch Auditor appointment

b. The firm should preferably be a partnership firm of Chartered Accountants and should preferably be in existence for more than 5 years.

c. One of the Auditors (any of the partner or employed CA) should be qualified as Information System Auditors (CISA / DISA) with necessary exposure to the Systems Audit.

d. Weight age to be given to the firms, where the partners themselves are ex-bankers or the firm has got tie-up with ex-bankers with requisite experience and exposure.

e. It is to be ensured that the audit firm or any sister / associate concern / network firm is not conducting the Statutory Audit of the Bank or any of its Branches.

f. Weight age to be given to a firm having exposure in conducting Concurrent Audit of the Bank Branches of a few public sector / major private sector Banks.

g. The firm should have necessary office set up and adequate personnel to ensure proper deployment and timely completion of the assignments.
Allahabad Bank Audit 2015

Concurrent Audit Fee Structure :

Service Branches /CPH/HUB/Back Office/HO Dept 7,500
Up to Rs.50 Cr with Credit outstanding of Rs.15 Cr & above ; 12,000
Above Rs.50.00 to Rs.100 Cr. 13,000
Above 100 Cr to 150 Cr 14,000
Above 150 Cr to 200 Cr 16,000
Above 200 Cr to 500 Cr 18,000
Above 500 Cr to 1000 Cr 20,000
Above 1000 Cr & FCTM 25,000

AREAS TO BE COVERED /EXAMINED BY THE CONCURRENT AUDITORS

The concurrent auditors are required to verify / examine and report the deviations pertaining to all the transactions of the concerned branch broadly covering Cash, Deposit, Advances, AML , Housekeeping, Bills, Impersonal heads, Remittances, Ancillary Services. Government Business (if any), Customer service, Complaints, Submission of control returns, Merchant Banking(if any), Profitability, Computer operations/ Overseas Direct Investment transactions etc.


Link to Download Application form: https://www.allahabadbank.in/english/tenderpage.aspx



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