ANNEXURE –A

UCO BANK
HEAD OFFICE
KOLKATA

UCO Bank invites applications from practicing firms of Chartered Accountants of India, in the prescribed
format, who are willing to have their firm empanelled as Concurrent Auditors, in the Bank. The CA firm
already on our panel should also apply afresh.

I. ELIGIBILITY CRITERIA FOR EMPANELMENT :

1. CA firms 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 required to submit a
declaration that they are full time practicing Chartered Accountants and not employed elsewhere and do
not have any other business interest.

2. The firm should have adequate manpower with knowledge of auditing computerized branches.

3. The firms should be preferably more than 2 years old.

4. The Headquarters or branch of the CA firm must be located at the place for which they want to take up
audit work.

5. They should not have been disqualified by the Bank to take up work of audit on an earlier occasion.

6. CA firm should not have been appointed as the Central Statutory Auditors or Branch Auditor for our
Bank during the year or previous year.

II. SCOPE OF CONCURRENT AUDIT:

1. Areas covered in the Bank’ standard formats for Concurrent Audit specifies the scope of concurrent
audit. The copies of the formats are attached as Annexure 1 & 2. Concurrent Auditors would examine
all the transactions undertaken by a branch for which they have been appointed on an on going basis and
identify the ones which are not as per the Bank’s laid down rules/circulars etc. and
guidelines/instructions received from authorities like, Govt. of India, Reserve Bank of India & SEBI etc.
from time to time.

2. Every quarter Concurrent auditor would also check if there is any wide variation in the cost of deposits
and yield on advances with the previous periods as well as Zonal average figures. A copy of the
guidelines on the manner of conduct of audit will be provided to the firm at the time of allotment of
branches and from time to time thereafter.

3. The auditor will not evaluate the decisions taken by a branch manager or an authorized official of the
branch. However, the auditor will be necessarily required to see whether the transactions or decisions
are within the policy parameters laid down by Head Office and whether it violates the instructions or
policy prescriptions of the RBI and that they are within the delegated authority.
III. REQUIREMENTS FROM AUDIT FIRMS:

1. Bank would provide to the concurrent auditors a suggestive/illustrative checklist of items/areas to be

checked daily/weekly/monthly/quarterly/half-yearly/ and concurrent auditors should identify the
deficiencies/irregularities in accordance with the checklist.

2. Concurrent Auditors shall be required to get rectified all the irregularities identified by them during the
course of Audit and report the irregularities which remained uncertified with reasons as to why the same
wsere not rectified within 3 days of the month succeeding the month of reporting.

3. The concurrent auditor would also be required to report immediately to the Bank’s higher authorities
wherever any serious irregularity or transactions involving malafide, corrupt practices and gross
indiscipline or any fraudulent transaction is detected by them.

4. The Monthly/Quarterly Audit Reports shall be required to be submitted in a pre-approved structured

format, which would be provided to the auditors by the Bank. The reports should be submitted within 3
days from the end of the month to which the report relates.

IV. TERMS & CONDITIONS:

(a) Period of Audit/Assignment:

External Audit firms empanelled would be appointed for a period of one year for one branch.

(b) Performance Review:

The performance of the empanelled firms would be periodically reviewed and if found unsatisfactory, the
Bank may terminate their services by giving one month’s notice in advance or paying one month’s fees in
lieu thereof at any point of time.

(c) De-empanelment :

The empanelled firms may be de-empanelled at the Bank’s sole discretion. If any serious acts of omission or
commission are noticed in their working, their appointments may be cancelled. If felt necessary, the matter
may be reported to ICAI and/or RBI.

(d) Documents to be submitted with the application :

The CA firms shall submit the following documents along with the application.

i) General information as per format given in the document.

ii) Copies of certificate of experiences and conduct of Concurrent Audit etc., in relation to similar
assignment performed elsewhere, if any.

iii) Copies of Registration Certificate issued to the firm by ICAI.

iv) Copy of constitution Certificate issued by ICAI.

(e) Submission of application :

The completed application, in the prescribed format, along with documents as specified in pare(d) above in a
properly sealed cover should be sent at the address given below so as to reach us on or before 31.08.2010
The envelope must state “APPLICATION FOR EMPANELMENT OF CONCURRENT AUDITORS”.

Shri B.B. Bhatia,

Assistant General Manager
UCO Bank,
Head Office, Inspection Department,
10, B.T.M. Sarani(4th Floor),
Kolkata – 700 001

(f) Evaluation of applications :

The applications received by the Bank should be screened by a Committee of Executives constituted for this
purpose, who will consider empanelment of CA firms based on their experience, CISA/DISA qualifications,
number of staff members employed, number of partners, seniority etc. and any other factors deemed suitable
by the Committee and the decision of the Committee shall be final.
Merely meeting the eligibility criteria shall not automatically entitle the firm for empanelment and after
empanelment the work will be allotted as and when need arises at the sole discretion of the Bank. The
empanelment will not give any right to the empanelled firms for carrying out the assignments. The Bank
reserves its right to cancel any or all the offers without assigning any reason whatsoever.

V. Payment Terms :

The audit fee shall be paid to the firm as decided by the Bank from time to time and mentioned in offer letter
for allotment of assignment and on submission of the relevant audit reports and the relevant Bills along with
supporting documents. The following schedule of fees being paid by the Bank depending on the volume of
advances at the branch, per month, is given below:

1. Advances upto Rs. 50 Crores Rs. 6,000/- p.m.

2. Adv. above Rs.50 Cr. And upto Rs.150 Cr. Rs. 8,000/- p.m.
3. Adv. above Rs. 150 Cr. and upto Rs.300 Cr. Rs.10,000/- p.m.
4. Adv. above Rs. 300 Cr. and upto Rs.500 Cr. Rs.12,000/- p.m.
5. Adv. above Rs. 500 Cr. Rs.15,000/- p.m.

(The above fee is exclusive of Service Tax, which is payable Extra and subject to revision)
 APPLICATION FOR EMPANELMENT OF CONCURRENT AUDITOR

1. Name of the firm :

2. Date of Establishment :

3. Registration No. of firm with ICAI :

(Certificate to be enclosed)

4. Constitution of the firm :

(Individual/Proprietorship/Partnership)

5. Date of Reconstitution of the firm :

(Copy of latest Constitution Certificate issued by ICAI to
be enclosed)

6. Registered Office, if any :

7. Postal Address :

8. No. of full-time Partners :

9. Staff Strength :

a) No. of Chartered Accountants :

b) Other Paid assistants :

10. Phone Nos. i) Landline(s) :

ii) Mobile No. :

Fax No. :

E-mail ID :

11. Service Tax Registration No. :

12. Unique Code of Bank Audit :

13. Details of Branch/Office with address:

Sl. Name of Branch/Office Name of Branch Address Phone No./Fax E-mail ID

No. Head No./Mobile No.

14. Particulars of Partners/Proprietor (Only for full-time Partners):

Sl. Name Age Designation Qualification Whether Membershi Date of Date of Date of Whether
No. ACA/FCA p Enrolment Certificat joining DISA/
No. With e of this CISA
ICAI practice firm

[Relevant Certificates to be enclosed]

15. Details of important UCO Bank Assignment including the Present One:

Assignments Zone Year Branch/Office

a As Central Statutory Auditor
b As Statutory Branch Auditor
c As Concurrent Branch Auditor
d As Stock/Income & Expenditure/Revenue
Auditor
e Treasury Management Audit
f Foreign Exchange Business
g Others – RBIA, Dealing Room etc.

16. Details of experiences with Other Banks:

Assignments Name of Bank Year Branch/Office

i) As Statutory Auditor
ii) As Concurrent Auditor

iii As Concurrent Auditor for Specialised functions viz.

) Treasury, Forex Dealing Room IS Audit, Risk Based
internal Audit etc. :

Name of Audit Name of the Bank Name of the Branch/Office Year

17. Other Corporate/Govt. works handled with details for the :
last 3 years

18. Name of the Chartered Accountant Firms where any of :

the Partner(s) is/are interested as Partner/Proprietor

19. Whether the firm has ever been depanelled by the Bank :
or any other Bank for Concurrent Audit or for Any other
assignment. If yes, details of such events with reasons
thereof

20. Whether the firm or any partners have been debarred by :

ICAI/RBI. If yes, details of such events.

21. Any other relevant information, the firm tends to give :

We confirm that the firm was not Central Statutory/Branch Auditor or Associate Concern of Statutory Bank
Auditors of branches of UCO Bank during the year or during the previous year.

We confirm that the information/details furnished above is/are true and correct. We undertake to furnish
necessary proof thereof, if any when required by the Bank.

Place : Signature of Authority/Signatory

Date : Name :

Membership No.: