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Empanelment with UCO Bank for Concurrent Audit

Posted on 26 September 2020,    
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UCO bank is inviting Chartered Accountants from practicing firms to act as Concurrent Auditors. The application will be open from 24.09.20 to 30.09.20. Firms who wish to undertake the audit can apply via the Online Application Portal. Read the official notification below:

[EXPRESSION OF INTEREST FOR ENGAGEMENT OF CONCURRENT AUDITORS!
Online application portal will remain open from
24.09.2020 to 30.09.2020 (23:59:59 hrs)

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.

I. ELIGIBILITY CRITERIA FOR ENGAGEMENT:

CA Firms not under cooling period ( I.e. no continuous audit for lost three consecutive years In UCO Bank) are eligible for applying as per list of branchesmentioned in Annexure - 1. 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 2020-21) may apply for branches listed In Annexure -1.

a) CA firm 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 full 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) Audit firms should preferably have qualified Information System Auditor (CISA/DISA) with necessary exposure of system audit. Since all the branches of the Bank are fully computerized, system audit shall form an integral part of audit of the bank.

c) Audit firm should not have been disqualified by any Bank IBA/RBI/ICAI, while taking-up audit work on earlier occasions.

d) Weightage would be given to the CA firms where the partners themselves are ex-bankers or the firm(s) has got tie-up with ex-bankers with requisite experience and exposure.

e) It is to be ensured that the audit firm or any sister/associate concern/network firm is not conducting the statutory audit of the Bank or any of its branches.

f) Welghtage will be given to a firm having exposure in conducting Concurrent Audit of the Bank branches for public sector / major private sector banks.

To read more in detail, click here

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