Acceptance of audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2012 three firms have been invited by cooperative bank for conducting the statutory audit and asked to give quote.
Three have given quote say 100, 75, 150. the special officer has bargained for 50. two people who have quoted 100 has accepted for 65 and another one who has quoted 150 did not accept for reduction. a person who has quoted 100 has accepted for special offer of 50. all the offers has been openly discussed in the hall in the presence of speical officer, and inspectors of the bank and the auditors. is there any violations of ethics by the person who has accepted so offcer. kindly breif me

Amol S Joglekar

Amol S Joglekar (Expert)
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07 June 2012 Prima facie the answer is NO. This assumes that BANK has clearly spelt out the selection procedure in the INVITATION. Please visit the site of World Bank where it has given the various PROCUREMENT procedures. This gives us a good insight of procurement.

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