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Old 19th July 2017, 03:19 PM
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Default SBBJ Concurrent Audit Empanelment

Someone is here who will tell me about Concurrent Audit Empanelment with SBI (State Bank of India)? My father wants to know about Concurrent Audit Empanelment with SBI. So please tell me about it as soon as possible.
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Old 19th July 2017, 03:39 PM
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Default Re: SBBJ Concurrent Audit Empanelment

As you are looking to know about Concurrent Audit Empanelment with SBI, so here I am providing following information:

Concurrent Audit Empanelment with SBI (State Bank of India)

CONCURRENT AUDIT EMPANELMENT DETAILS:

The empanelment opportunity covers branches situated in the states of Delhi, uttrakhand, Rajasthan and some states of Uttar pradesh.

SBI can include or exclude other branches for empanelment purpose.

Chartered accountant firm or LLP should be listed on RBI panel.

Experience should be considered for appointment.

REMUNERATION FOR CONCURRENT AUDIT:
Grade Deposit of branches Advances Remuneration
3 300 crore and above Less than 400 crore 25000 p.m.
2/3 - 400 crore and above 35000 to 50000 pm

SCOPE OF CONCURRENT AUDIT:
Compliance with RBI guidelines and guidance of FEDAI/ IBA.
Compliance with ARAC norms.
Compliance with banking regulation rules, 1949.
Verification of forex transactions.
Compliance with any guidelines issued by government, RBI, SBI and other statutory authorities.
Reporting for compliance with RBI guidelines and if any activity is running which is prohibited by RBI.
Check compliance with norms in section 20 in banking regulation act for granting loan and advances against shares and other matters.
Compliance of rule 20A , 24, 452 and 360 of banking regulation act.

BIO DATA FOR EMPANELMENT OF SBI CONCURRENT AUDIT:

Firm has to submit bio data of firm. Following details are included in bio data:
Name of firm
constitution
date of establishment of firm.
Contact details.
PAN number
Registration number of firm.
Unique code granted by RBI for statutory audit.
Details of staff.
Qualification of staff.
Qualification of auditors.
Audit assignments on hand.
Revenue and profit of last three years.
No of branches.
Infrastructure of firm.
Partners of firm.
Experience in audit.
Enclosures for proof of above.

Last edited by shikha; 19th July 2017 at 03:45 PM.
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