December 24, 2014

SBI Concurrent Audit Opportunity



State Bank of India
Audit Department,
Local Head Office, Lucknow – 226001
Empanelment of Concurrent Auditors for Branches/Offices/CPCs situated in the districts of Uttar Pradesh falling under Bank’s Lucknow Circle

Applications are invited from Chartered Accountants Firms (situated in the districts of Uttar Pradesh falling under Bank’s Lucknow Circle) for carrying out Concurrent Audit on full time contractual basis at its selected Branches / Offices /Credit Processing Centres (CPCs) situated in the districts of Uttar Pradesh falling under Bank’s Lucknow Circle.
Bank reserves its right to include other branches/entities to the above list or exclude the same from the above list, as per need.
Last Date for Receipt of Applications: December 31, 2014.

Those who are interested may submit Application / Bio-data on the enclosed format, alongwith necessary annexures.

Eligibility Criteria & Preference:
i) The Chartered Accountant Firm should be either Grade/Category 2 or 3 as per RBI norms.
ii) Expertise in audit of Banking related areas and experience as Concurrent Auditors of other Banks in the past is preferred.
iii) Preference will be given to locally based Chartered Accountants and/or proximity to where the Branches / Offices / CPCs are situated.

Sl.No.            Business Level of Branch                                             Fee Structure (Rs. per month)
a                    Deposits: Rs.300 Crores & above and                           25,000
                      Advances: < Rs.400 Crores
b                    Advances: Rs.400 Crores & above.                              35,000 – 50,000

Note: An additional Rs.500/- p.m. per account with fund-based & non-fund-based exposure of Rs.10 crores and above may be given.

Sl.No.         Credit Processing Centres (CPCs)                                Fee Structure (Rs. per month)
a                 LCPC / TFCPC                                                            25,000 – 30,000
b                 RACPC / SMECC / RASMECC                                 40,000 – 50,000

Note: The remuneration is payable as per the above norms and the Grade/Category of the CA Firm would have no connection with the remuneration.

The above mentioned fee/remuneration is inclusive of all charges/taxes etc. and no
other fee/allowances (e.g. Travelling Allowance, Halting Allowance, Lodging
Charges, Local Conveyance, Overtime Charges etc.) whatsoever shall be payable in
addition to the same.
Terms and Conditions:
1. The appointment of the Firm shall initially be for a period of one year, which can be renewed / extended, at Bank’s discretion, every year, upto three years, subject to satisfactory performance.

2. Trained Representative(s) of the CA Firm [Articled Clerk(s) trained by ICAI on Concurrent Audit / Retired Bank Official(s)] is/are to be stationed on full day basis on all working days at the Branch/Office/CPC on an ongoing basis.

3. A Chartered Accountant of the Firm must visit the Branch/Office/CPC at least two/three times a week depending upon the business and risk profile of the Branch/Office/CPC.

4. The Concurrent Auditor should submit reports at fortnightly intervals on the irregularities observed and rectified.

5. The CA Firm shall have to acknowledge the Appointment Letter as a token of the Firm agreeing to the terms and conditions of appointment.

6. The empanelled CAs shall have to enter into a Service Level Agreement with the Bank.

7. Mere submission of application does not, in any way, constitute a guarantee for allotment of audit job by the Bank.

8. After empanelment, work will be allotted as and when need arises at the sole discretion of the Bank.

9. The following Firms are not eligible to apply:

i) If the firm/any partner has been disqualified/de-panelled or whose appointment has been terminated by RBI/ICAI/Bank/ any other Bank on an earlier occasion.

ii) If the firm or any sister/associate concern of the firm is on Statutory Audit panel of State Bank of India.

iii) If the firm/any partner is currently or has previously been engaged in a consulting assignment with State Bank of India.

10. The Bank reserves its rights to reject any or all applications without assigning any reason and the Bank’s decision in this regard would be final. No correspondence in this regard would be entertained. No communication will be sent by the Bank to the applicants who are not selected.

11. If the information provided by the empanelled CA is found to be false at a later stage or if his services are not found to be satisfactory or serious acts of omission or commission are noticed, Bank will have the right to terminate the contract at any time and report the matter to RBI/ICAI.

12. All disputes will be subject to jurisdiction of the Courts at Lucknow only.

Scope of Concurrent Audit / Areas to be covered:
Concurrent Auditor has to ensure and certify that the Branch/Office/CPC has complied with the following:
i) Compliance with guidelines/ground rules of RBI and other agencies such as FEDAI/IBA.

ii) Compliance with Income Recognition and Asset Classification (IRAC) norms of RBI (to verify whether the classification of advances has been done as per stipulated guidelines).

iii) Whether any of the activities prohibited by RBI are undertaken.

iv) Whether important RBI guidelines issued from time to time in the area of advances, foreign exchange, investments and other statutory requirements prescribed by RBI are being complied with.

v) Verification of various statements, returns etc. prescribed by RBI.

vi) Compliance with provisions of Banking Regulation Act, 1949.

vii) Compliance with norms governed by:

a) Section 20 of Banking Regulation Act in regard to granting loans/advances against own shares etc.
b) Section 20A of Banking Regulation Act: Restrictions on power to remit debts.
c) Section 26 of Banking Regulation Act: Submission of returns of Unclaimed Deposits.
d) Section 340 of Banking Regulation Act: Production of documents of conditional nature to any other authority.
e) Section 452 of Banking Regulation Act: Return of paid instruments to customers.
f) Banking Companies (Nomination Rules) Section 45 ZC, 45 ZE and 45 ZF.
g) Any other provision which may be identified by Banking Operations Department of RBI for verification of compliance from time to time.

viii) Foreign Exchange / Security Transaction: To verify all Foreign Exchange /Security Transactions undertaken at the branches / dealing rooms. The Concurrent Auditor will have to verify whether the transactions or decisions are within policy parameters laid down, do not violate provisions of Exchange Control Manual / FERA 1973 and other RBI instructions and they are within delegated authority.

ix) Any other guidelines / instructions issued from time to time by Govt. of India, RBI, State Bank of India and/or any other Statutory Authorities.

The applicants will have to submit a copy of these Terms and Conditions /‘Scope of Concurrent Audit / Areas to be covered’ duly signed and accepted by them along with their applications failing which the same are likely to be rejected by the Bank.

I have read and understood the above Terms and Conditions / ‘Scope of Concurrent Audit / Areas to be covered’ and shall abide by the same.


1 comment:

  1. I want to start an add Agency in Lucknow, want to know the process of Registration and what are the documents are required to complete the registration process? Please brief in Details??????


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