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
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
(Expert)
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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