Indian Bank invites applications for Empanelment of Concurrent Auditors

Indian Bank invites applications for Empanelment of Concurrent Auditors
Indian Bank invites applications for Empanelment of Concurrent Auditors

Indian bank is in the process of making a “Fresh Panel” for concurrent auditors. Applications are
invited from eligible Audit Firms for empanelment as Concurrent Auditors as per the eligibility criteria
given below:

Basic criteria for assigning for Concurrent Audits

a) Audit firm must have RBIUCN (should appear in the list provided by ICAI).
b) An audit firm eligible to be engaged for audit work should have qualified Information System
Auditor (CISA / DISA) with necessary exposure to systems audit since all branches are fully
computerized and IS audit should form an integral part of the audit. Exceptions may be
allowed in places where non-availability of CISA/DISA qualified persons.
c) Weightage will 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 as associates.
d) Any audit firm or any sister / associate concern / network firm conducting the statutory audit
of the Bank or any of its branches at present, will not be considered for concurrent audit.
e) Weightage will be given to a firm having exposure in conducting concurrent audit of Bank
branches for a few public sector / major private sector banks.
f) The firm should have necessary office set up and adequate personnel to ensure proper
deployment and timely completion of the assignments

Declarations to be submitted by the Audit firms at the time of assignment (Not now):

  • The firm should execute undertaking of fidelity and secrecy on its letterhead in the format
    prescribed by the Bank.
  • That credit facilities availed by the firm or partners or firms in which they are partners or
    directors including any facility availed by a third party for which the firm or its partners are
    guarantor/s have not turned or are existing as non- performing assets as per the prudential
    norms of RBI. In case the declaration is found incorrect, the assignment would get
    terminated besides the firm being liable for any action, under ICAI / RBI guidelines.
  •  That the audit firm / proprietor / any of the partners do not suffer from one or more of the
    disqualifications stipulated in Section 141 of the Companies Act, 2013 or under any other law
    for the time being in force.

Scope of Audit
Scope of Concurrent Audit is as per RBI and Internal guidelines of the bank, revised from time to
time. The scope of Concurrent Audit includes inspection of units, Revenue Audit, Certifying
compliance of regulatory guidelines, LFAR etc.

Fee structure at present:

Business position of the branch

(level as on 31st March of previous financial year)

Fees per month (Rs)
Upto Rs.100 crores 12000
Above Rs.100 and upto Rs.250 crores 14000
Above Rs.250 and upto Rs.500 crores 15000
Above Rs.500 and upto Rs.1000 crores 20000
Above Rs.1000 crores 25000

Interested Chartered Accountants conforming to the eligibility criteria may send their resume as per
format given below and to the following address in hard copy only to reach us on or before 25th
May 2018. Applications sent through email will NOT be entertained.


Name of the CA Firm
Unique Code No. for Bank Audit (RBIUCN)
Registration No. of Firm with ICAI *

(self attested copy of Firm Registration Certificate from ICAI to be enclosed)

Regn. No.:                

(Applications will not be entertained without self attested copy of Firm Registration Certificate)

Address of Head Office
Branch Offices *
Name & Mobile No. of partner for contact

Landline No/s (with STD Code)

E-mail Address


No. of full time


No. of Paid


No. of Retired

bank Officials

No. of


Name of Partner / Audit Staff having CISA / DISA qualification. *

(self   attested   copy   of       CISA         /          DISA certificate of the partner/s to be enclosed)




(Applications will not be entertained without self attested copy of CISA / DISA Certificates)


Experience of Concurrent Audit of Nationalized Banks / Major Private Sector Banks (last 5 years)

Bank Branch Period
Any other information:

(* fields are mandatory)

Those who are presently doing concurrent audit for Indian bank are also required to apply again. The applicants are requested to send enclosures (mentioned above) only. Do not enclose copies of assignment letters of banks etc.

The Bank reserves its right to accept or reject the applications subject to the Banks norms and criteria. The empanelment is not an assurance of assignment of concurrent audit. For clarifications only, if any, please contact through email:


General Manager (I & C) Indian Bank

Corporate Office Inspection Department

254-260, Avvai Shanmugam Salai, Royapettah, Chennai – 600014

About CA Junction

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