Empanelment of CA Firm for Stock Audit of UCO Bank

NOTICE FOR EMPANELMENT OF STOCK AUDITORS FOR BRANCHES UNDER MUMBAI ZONE

Applications in prescribed format are invited from qualified Chartered/Cost Accountant or a firm of Chartered/Cost Accountants registered with Institute of Chartered Accountants of India/Institute of cost Accountants of India for empanelment as stock & Book Debts auditors with our branches under Mumbai Zone.

Prescribed forms such as proforma of application (Annexure-I to be printed on letter head), Code of Conduct document for stock auditors (Annexure-II), and proforma of declaration-cum-undertaking (Annexure-III) to be submitted by the applicant stock auditors will be uploaded on our bank’s website.

Interested individuals/firms those having their place of business in Mumbai, Maharashtra satisfying the eligibility criteria may submit their application along with requisite credentials, declaration cum undertaking (on Non-Judicial Stamp Paper of requisite Value) etc. in sealed envelope to our office latest by 30th April, 2022 on the following address:-

The Zonal Manager UCO Bank. Zonal Office, 1st Floor, 359, DN Road, Fort, Mumbai, Maharahstra-400001.

Applications received after the due date and also without relevant particulars will be summarily rejected and bank’s decision in this regard shall be final and binding on all parties. Bank will be on its liberty to reject or empanel any individual/firms without giving any reason to affected parties/firms. The Bank’s decision on selection/empanelment shall be final no communication in this regard shall be entertained.

Eligibility Criteria For Empanelment

a. The applicant should be a qualified Chartered Accountant / Cost Accountant or a firm of Chartered/Cost Accountants, registered with Institute of Chartered Accountants of India / Institute of Cost Accountants of India.

b. A fellow/associate member of Institution of Stock Auditors as specialist in jewellery, precious stones & ornaments or as specialist in Works of Art or as Stock Auditor for chemicals or as Stock Auditor of any such specialized stock may also apply for empanelment as stock auditor for such specialized categories. An audit firm having at least one such partner or senior employee shall be eligible for being empaneled as stock auditor for such specialized stock.

c. The applicant should have 3 years Post-qualification practicing experience as stock auditor with any of the commercial Banks (Public or Private). In case of Firm etc, the individual experience of the any partners etc of at least 3 years can also be considered.

d. In case the Stock auditor / proprietor or any of the partners of the audit firm /employee of the audit firm is an ex-employee of our Bank, such stock auditor audit firm shall be eligible for empanelment after a cooling period of two(2) years from the date of retirement of that employee.

Additional / Preferred Criteria:

a. Empanelment with PSBs as stock auditor shall be treated as a preferred qualification, but not mandatory one for being empanelled.

b. The firms having partners/personnel with engineering background and/or partners/personnel experienced with SAP environment and/or partners/personnel with CISA/DISA to assist stock audit will be given preference.

c. Firms having more than one qualified Chartered Accountants/ Cost accountants as partners.

Other Criteria

a. The applicant should be an Indian Citizen/Firm registered in India.

b. There must be minimum 2 trained /Semi trained employees/Trainees/Apprentices besides a Chartered Accountant/Cost Accountant.

c. Adequate knowledge of financial analysis.

d. The applicant individuals / firms as well as all partners must be income tax assesse.

e. The auditors against whom complaints have been registered with CBI / SFIO /police / court of law &/or blacklisted by any bank / FI / IBA/etc shall not be eligible.

f. An undercharged insolvent shall not be eligible for empanelment.

g. Central statutory auditor of the Bank shall not be eligible for empanelment as stock auditor during the tenor as statutory Auditor. Statutory / concurrent auditor of a branch shall not be eligible for undertaking stock audits related to the same branch, even if empanelled.

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