Bank Of Maharashtra are invited online application form for Vacancies for The Post of Concurrent Auditors (Chartered Accountant and Retired Officer). Those candidates who are interested in this recruitment can check the detailed official notification below before apply online.
Bank Of Maharashtra
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Vacancies for The Post of Concurrent Auditors (Chartered Accountant and Retired Officer), 2021-22
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Important Dates
- Online Application Start on: 30.03.2021
- Last Date for Online Application: 01.04.2021
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Eligibility for Chartered Accountant
- Applicant should be either a Partnership or a Limited Liability Partnership or Proprietorship Firm or a Company, already in the panel of the R.B.I., which is circulated among Banks for Statutory Audit of Banks from time to time.Registration of Firm with RBI is mandatory. The Category of the Audit Firm (viz. I, II, Ill, IV) should be mentioned.
- Those Audit firms which are conducting Concurrent Audit of our branches continuously for a period ofTHREE years or THREE terms are not eligible for re-empanelment for the year 2021-22.
- Empanelment and allocation of branches to the auditors will be purely the prerogative of the Bank. Such empanelment shall be initially for a period of one year and can be extended up to a maximum period of 3 years subject to satisfactory performance of the auditor.
- The Concurrent Audit firm will undertake that they will not sub contract the audit assignment under any pretext/ in any form.
- The Concurrent Audit firm will not lobby directly or indirectly for considering any credit proposals of their friends / clients to the Bank.
- Auditors should not have been disqualified under Section 143 of the Companies Act, 2013 to accept this appointment.
- The Concurrent Audit firm / or the partners/ or directors/ or any of their clients should not have any credit facilities with the auditee branch for which they are applying for except credit facilities against their own deposits.
- The Firm / any partners / Directors of the Firm / Company / LLP / Proprietor should not have Statutory Audit, Credit Audit, Valuation of Fixed / Current assets or any other similar assignments with any branch of Bank of Maharashtra.
- The firms should be having sufficient experience in conducting audits in Banks / our Bank. Other things being equal, the Audit firms with Proprietor / Partner with CISA / DISA qualification will be given preference. Weightage will be given to a firm having exposure in conducting concurrent audit of the Bank Branches for public sector / major private sector banks.
- The firm should have necessary office set up and adequate personnel to ensure proper deployment and timely completion of the assignments. 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.
- Only one branch will be allotted to Selected Firm. However, the Bank has trio discretion to change the allocation of branches based on any administrative exigencies.
- Whenever any of the Proprietor / Partner / Director of the Audit Firm / Company is related to any of the employees / Directors of the Bank, the relationship with such employees / Directors should be specifically mentioned in the application.
- The Bank has the discretion to consider or reject any of the applications based on any of the RBI / Government / Internal guidelines of the Bank, without assigning any reasons.
- Only the Audit Firm provisionally selected for empanelment will be communicated through email. No individual intimation will be sent to the audit firm whose application is not considered for empanelment. No further correspondence will be entertained in this regard.
- The Audit Firms should give their consent in writing in the prescribed format agreeing to comply with and bound by the terms and conditions prescribed by the Bank after allotment of assignment as a concurrent Auditor.
- The Audit firm selected is eligible for reappointment subject to Annual Review by the Bank up to a maximum period of 3 Terms / 3 Years. Reappointment may be to the same branch or to any other branch at the discretion of the Bank.
- The Audit Firm shall submit the reports in the prescribed format covering all the Audit areas advised from time to time.
- If selected for empanelment, the Audit firm shall submit an undertaking for ensuring compliance of “Dos and DON’Ts” on the prescribed lines at the time of assignment.
- The assignment should be carried out in a professional manner and in case of any misconduct or negligence; the Bank is free to report the matter at any time to ICAI / RBI. This will be in addition to the disengagement from the Concurrent Audit assignment.
- The firm should execute undertaking of fidelity and secrecy on its letter head in the format prescribed by the Bank at the time of appointment.
- If any partner of a Chartered Accountant firm is a Director on the Board of a bank, no partner of the same firm should be appointed as concurrent auditor in the bank.
- The monthly fees payable to the auditors shall be approved by the delegated authority taking into consideration the nature of assignment and within the maximum fees approved by ACB of the Bank.
- The firm should give UDIN number for each report.
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Eligibility for Retired Officer
- Retired Officer shall not sub-contact the audit work assigned to any outside firm or other person even though such persons are qualified chartered accountants.
- Retired Officer in the Scale III to V shall be considered for engagement for the Concurrent Auditor of the branch.
- The Officers who have voluntarily retired / resigned / suspended / who have left the Bank otherwise before superannuation will not be eligible for appointment.
- Officer should have completed minimum two terms of Branch Managership in scale III and above.
- He/ She should be in good health (Declaration).
- No major punishment / penalty should have been inflicted on the official during last ten years of his/ her service in the Bank.
- Cases of CBI or any other law enforcement agencies should not be pending against the official.
- The age of the retired officer at the time of engagement should be below or equal to age of 63 years.
- He should have fair knowledge of CBS and other software packages used by the Bank and adequate computer knowledge including MS Office.
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