APPLICATION FOR ENGAGEMENT OF CONCURRENT AUDITOR ( 2021-2022 )
[FOR THE PERIOD 01-10-2021 TO 30-09-2022]
Last date for submission of application is 18-09-2021
UCO Bonk invites online application from practicing firms of Chartered Accountants in India for engagement as Concurrent Auditors to undertake Concurrent Audit assignment in designated branches/ offices through computerized application package and RLHs/AMBs/Service branches. Central Pension Processing Centre, SME Hubs, Treasury, Depository services and HO departments in India through manual process.
The firms who are willing to undertake the audit in computerised application environment have to apply for Concurrent Audit through online application portal.
ELIGIBILITY CRITERIA OF CHARTERED ACCOUNTANT/ FIRM FOR ENGAGEMENT AS CONCURRENT AUDITOR:
CA Firms not under cooling period ( i.e. no continuous audit for last three consecutive years in any branches /offices of UCO Bank) are eligible for applying as per list of branches mentioned in Annexure – I.
For CA firms already engaged with us and not under cooling and their branch is listed in Annexure – II (Branches which are not identified for 2021-22) may apply for branches listed in Annexure – I.
a) should preferably be a partnership concern having experience in the field. The Bank may also consider the sole proprietorship concerns and in that case they would be also required to submit a declaration that they are fuii time practicing Chartered Accountants, not employed elsewhere, do not have any other business Interest with UCO Bank and not a Director in UCO Bank or related to any of the present Directors of UCO Bank.
b) Applicant should either be a LLP / Partnership firm or Proprietorship, already in the panel of the RBI. which are circulated among the Banks for Statutory Branch Audit of the Banks from time to time. Registration with RBI and category allotted by RBI are mandatory.
c) The Concurrent Audit firm should furnish the name, qualification and skill set of the persons, who shall be conducting audit in the branch, to the Bank before commencing audit assignment and such persons will have to continue audit for all the Twelve (12) months.
d) The Concurrent Audit firm shall not lobby directly or indirectly for considering any credit proposals of their friends / clients to the Bank / auditee branch.
e) The Auditors’ Services should not have been terminated or stopped by our bank earlier for (i) want of satisfactory performance or (ii) serious acts of commission or omission or [iii) professional misconduct or (Iv) any other adverse reasons.
The amount of monthly Concurrent Audit Fee payable would be as under:
1. Advance up to Rs 25 Crores: Rs. 15,000/-
2. Advance above Rs 25 Crores & upto 100 Crores: Rs. 18,000/-
3. Advance above Rs 100 Crores S. upto 200 Crores: Rs. 20,000/-
4. Advance above Rs 200 crores & upto 1000 crores. Rs. 25,000/-
5. Advance above Rs 1000 crores. Rs. 30,000/-
6. Grid Service Branch- Chennai, New Delhi & CBO Kolkata: Rs. 15,000/-
7. Grid Service Branch – Mumbai with ATBD: Rs. 20,000/-
8. Treasury Branch: Rs. 30,000/-
9. Corporate Department – H.O. (For 2/3 departments: Rs. 25,000/-
Quarterly Concurrent Audit Branches/ Office:
1. AMB, SME Loan Hub. RLH & CPPC, Nagpur: Rs.20000/-
2. Depository Services Branch: Rs. 15000/-
To read more about the scope, limitation etc for appointment as Auditor CLICK HERE
Annexure I – https://apps.ucoonline.in/conc_audit/Annexure-I.pdf
Annexure II – https://apps.ucoonline.in/conc_audit/Annexure-II.pdf
To apply CLICK HERE.
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