Application for Empanelment of Concurrent Auditors in Union Bank of India for the F. Y. 2020-21

Union Bank of India invites applications from eligible/interested Chartered Accountant Firms for empanelment as Concurrent Auditors for conducting Concurrent Audit in the identified Branches / Offices for the period up to 31.03.2021.

IMP Note:Last date for filing of Online Application is 02.10.2020, before 5.00 PM.

Eligibility Criteria

Sl No.Criteria
1Firm should be a partnership firm of Chartered Accountants.
2Firm should be Registered with ICAI having Registration number
3Firm should be Registered with RBI having Unique Code Number
4The Firm should have as partner/s Chartered Accountant/s who have undergone the “Certificate Course on Concurrent Audit of Banks” conducted by ICAI.
5The firms should have as partner/s qualified Information System Auditor (CISA/DISA) with necessary exposure to systems Audit.
6Preference will be given to firms where the partners themselves are ex- Bankers or the firm has got tie-up with ex-Bankers or has ex-Bankers as its employee, with requisite experience and exposure.
7The firm should have necessary office set-up and adequate personnel to ensure proper deployment and timely completion of assignments.
8Firms with common partners should not submit applications separately. Such Firms should submit application on behalf of only one firm.
9Auditing and Reporting is to be mandatorily done through on line Web Based Audit Management Solution (eTHIC Package) and hence Concurrent Auditor and audit assistant should be computer literate.
10The Firm should not have any credit relationship with the Bank/branch other than borrowings against their own deposits/jewels.
11The firm should not be subject to any of the disqualifications under Section 141 of the Companies Act, 2013 for being appointed as External Concurrent Auditors in our bank.
12Whenever any of the partner of the Firm is related to any of the staff or director of the Bank, such relationship shall be specifically mentioned in the application.

The following type of Audit firms are not eligible to participate for empanelment process:

  • If Firm / any partner has been disqualified / de-empanelled or whose appointment has been terminated by RBI/ ICAI/ Bank / any other Bank on an earlier occasion.
  • The Audit firm or its associate concerns should not be conducting Statutory / Concurrent Audit of Union Bank of India/erstwhile Andhra Bank/erstwhile Corporation Bank or any of its Branches. The Audit firm or its associate concern, whose Statutory Audit term is yet to expire may apply for Concurrent Audit empanelment provided concerned Audit firm or its associate concern sacrifices the Statutory Audit assignment.
  • Any canvassing, influence or reference to appointment of audit firms will render the application invalid.
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Evaluation of CA firm

The CA firm will be evaluated based on the following parameters:

  1. Eligibility criteria as mentioned above.
  2. Preference will be given to Audit firm having office in the same centre as that of Auditee Branch.
  3. Experience of Concurrent Audit with Union Bank of India and/or Other Public Sector Bank.
  4. Weightage will be given to firms where the partners themselves are ex-Bankers or the firms has got tie-up with ex-Bankers/or has ex- Bankers as employees with requisite experience and exposure.
  5. Efforts will be made to allot the branches to the CA firms based on minimum category suggested by RBI and Internal Concurrent Audit Policy of Bank. However, in case CA firm of requisite category is not available in particular location, then Bank will select suitable CA firm either from lower or higher category.

Fee Structure

Level of Advances and No. of Cash Credit A/cs in Standard categoryFee structure for   Concurrent Audit
Advances above Rs.22500 Crores
1.More than 50 accounts
2.upto 50 accounts
Advances above Rs.7500 crores upto Rs. 22500 Crores 1.More than 50 accounts
2.upto 50 accounts
Advances above Rs.500 crores upto 7500 Crores
1.More than 50 accounts
2.upto 50 accounts
Advances above Rs. 100 crores upto Rs.500 crores
1.More than 50 accounts
2.upto 50 accounts
Advances upto Rs.100 croresRs.25000/-
Specialised/other Units 
TreasuryRs. 50,000/-
Data Centre Process AuditRs. 30,000/-
ATM Division& Credit Card DivisionRs. 30,000/-
Service BranchesRs. 20,000/-
CMS DivisionRs. 15,000/-
Vostro BranchRs. 15,000/-
Centralised processing Units such as SARALs, ULPs, USKs, NPC etcRs. 15,000/-
Various Departments in Central Office like CCD, SSD, TBD etc.Rs. 15,000/-

Official Documents

To know the Terms and Conditions,documents to be submitted and other information,

Click Here for Official Document

The formats of Letter of acceptance of terms and conditions, Undertaking letter, compliance to “ Dos and Don’ts,” Undertaking of Fidelity & Secrecy and an Undertaking for carrying out Due Diligence of employees to be sent by the shortlisted Auditors on receiving the intimation from the Bank are given as Annexure A, B, C, D and E.

Click Here to View Annexures

Eligible / interested Chartered Accountant Firms may apply online in prescribed format.

Click Here to Apply


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