Multipurpose Empanelment Form is now Live by ICAI – Professional Development Committee for 2020-21.
In simple words this is used for enlisting Chartered Accountant for auditing the accounts of nationalised banks and Public sector undertakings.
The key highlights of the MEF- 2020-201 are:
1. Display of Common Partners details and their association
2. OTP based Validation of Declaration
3. Disclosure of reason of ineligibility
4. Capturing the Lat-long of the head office through google map
5. All change through SSP Portal only
6. Introducing the Part B- Experience details for Other Panels
Field of District in the address of the Firm
- In green field, the District is populated as per the records available in SSP. The same is to be confirmed by the applicant in the column “District as per Applicant”. In case, the district on the basis of the address of the applicant in SSP is incorrect, then applicant needs to select the correct District or else select the same District (as appearing in the field-District as per ICAI) in this field.
- In case, the address of the applicant has been changed from the address as appearing in green fields, the address is to be changed in Institute’s record through SSP and then only the new address will be considered. However, the applicant may inform through grey fields and update in SSP of lCAI.
Lat-Long (from Google Map)
- The lat-long is being captured as per the address as in SSP records, the same can be verified for its correctness/ rectified by choosing the exact location (within the District) through the map exhibited.
OTP based Validation of Declaration
- For this year, the declaration for the MEF Application will be sought from the member/ partners/ proprietor through validation of One Time Password (OTP) instead of scanned / digital signatures as was done in the past.
- In case of Partnership firms, all the continuing partners must validate the declaration through OTP else the MEF application will not be treated as submitted.
- In case, any partner has retired/left, the change in constitution of the firm needs to be updated in the SSP of ICAI so that she / he is not a continuing partner and thereupon MEF application can be accepted without validation of OTPs from such partners.
Category / Ineligibility of Application
- The category will be informed to the applicant on the submission of the Declaration validated through OTP by all the continuing Partners / Proprietor / Member practicing in his individual name. Further, in case of the applicant is ineligible for Bank Branch Auditors’ Panel, the reason therefore would be exhibited in the acknowledgement after submission of the Declaration.
- The information of association of the partner / proprietor / member elsewhere will be shared immediately to the applicant on logging to the MEF.
- The firms with common partners who will withdraw from Bank Branch Auditors’ Panel (for making one firm eligible for Bank Branch Auditors’ Panel) will be considered for other Panels.
It may be noted that change in any data in MEF will only be considered if it is updated and reflected in SSP of ICAI at the link eservices.icai.org
Once again it may informed that the MEF Application can be submitted only on uploading the Financial Documents of the firm and continuing Partners/Proprietor/Member practicing in his individual name, as the case may be. After submission of the MEF Form, the declaration is to be validated by all continuing partners through OTP, else the MEF application will not be processed further.
You can register for same at: https://meficai.org/