IBA Empanelment Form
IBA Empanelment Form
IBA Empanelment Form
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Indian Bank’s Association (IBA) invites applications from eligible Firms/Entities for empanelment to take up assignments relating to
forensic audit of 1. Frauds upto ₹ 50 crores & 2. Frauds above ₹ 50 crores in the Banking Industry. The last date for receipt of Hard
copy of applications at IBA is 27th May, 2019 by 5.00 pm. After which no applications will be accepted. Applicants may send the Soft
Copy of applications in advance by email to mgr.cib2@iba.org.in / vp.cib2@iba.org.in.
Note: IBA empanelled Forensic Auditors, whose term expiring on Aug 27, 2019; need to apply through this process. IBA
empanelled Forensic Auditors, whose term expiring on October 15, 2020; need not apply.
I. Eligibility Criteria for frauds above ₹ 50 crores is given in the table below:
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Sr. Selection Criteria Minimum requirement for frauds above ₹ 50
No. crores (Fund + Non Fund based)
3. The firms/entities should have employed Private Detective Agencies / Engagement of skilled professionals minimum
Ex law enforcement professionals/ Corporate Fraud investigators/ from two of the given categories.
Persons having experience in Industrial espionage / legal experts /
experts on anti-money laundering activities, etc.
5. The Investigative Tools presently used by the Firm / Entity in it’s Give the list of instruments, machineries, and
Forensic Laboratory (Mention the IT and Non-IT tools) For Example: other forensic investigative tools
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Sr. Selection Criteria Minimum requirement for frauds above ₹ 50
No. crores (Fund + Non Fund based)
- Voice Interpreter
7. Number of judgements passed in the Indian court of Laws based on the Please submit the list of case numbers for
Forensic Investigation Report submitted by the Firm/Entity as a verification on-line
decision making reference.
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Sr. Selection Criteria Minimum requirement for frauds above ₹ 50
No. crores (Fund + Non Fund based)
10. a) Obtaining a certificate (initially and on-going basis) from the firm / To be obtained after appointment.
concern / entity about no disciplinary proceedings pending or
contemplated against them by the Institute of Chartered Accountants of
India / Reserve Bank of India / SEBI.
d) There will not be any criminal case pending against any Court of
Law against the firm/entity and/or its partners.
11. List of Banks / FIs served as concurrent auditors / Statutory auditors in Minimum 7 reputed organisations inclusive 3
the past and serving at present wherever applicable (Please mention the international companies/MNC for statutory
list of banks / FIs and number of years worked with them) audit.
12. Submission of sample reports pertaining to Forensic Investigation of Minimum three sample reports including one
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Sr. Selection Criteria Minimum requirement for frauds above ₹ 50
No. crores (Fund + Non Fund based)
large value Asset Frauds in banks under a large consortium lending. Digital Forensic Audit Report.
13. Preferably the Firm/Entity should be empanelled/ worked with Please submit list of such audits conducted.
regulatory bodies like CBI, SEBI, SFIO, EOW of State Police etc.
15. References from Banks where forensic assignment is completed in the Two Banks
past.
II. Fee
Along with application form, an application fee of ₹ 1,25,000/-+GST (18%) for empanelment of forensic audit. Out of this ₹ 25000/-+
GST will be retained as non-refundable application fees and remaining fee of ₹ 1,00,000/- + GST will be retained from the firms who
are selected and empanelled by IBA. Thus the fee of ₹ 1,00,000/- + GST will be refunded to those firms who are not
selected/empanelled by IBA.
2) For an amount of ₹ 29,500/- (Rs.25,000 + GST of Rs.4500) towards non-refundable application fees.
The demand drafts to be drawn in favour of Indian Banks’ Association payable at Mumbai.
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(On firm’s letter head)
Application for Empanelment of Forensic Audit
Date:
Chief Executive,
Indian Banks’ Association
World Trade Centre Complex,
Centre- I, Cuffe Parade
Mumbai- 400 005
Undertaking
Sr. Selection Minimum requirement for frauds above ₹ 50 crores/ up to ₹ Comments/Com
No. Criteria 50 crs (depending on the category in which applicant is pliance
applying)
We solemnly declare that the information furnished above is complete and entirely true and nothing has been
concealed. We affirm that terms & conditions of Indian Bank’s Association (IBA) relating to empanelment of
Forensic Auditors are acceptable to us.
In Case
Any information/ document is found untrue, IBA may take necessary action, including blacklisting of the firm/
member, as it may deem fit.
Authorised Signatory
Name & Designation
Membership No.
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EMPANELMENT OF FORENSIC AUDITORS
I. Eligibility Criteria for frauds upto ₹ 50 crores is given in the table below:
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Sr. No. Selection Criteria Minimum requirement for frauds upto
₹ 50 crs (Fund + Non Fund based)
5. The Investigative Tools presently used by the Firm /Entity in it’s Forensic Give the list of instruments,
Laboratory (Mention the IT and Non-IT tools) For Example: machineries, and other forensic
investigative tools
- Email cracking tools
- Voice Interpreter
8
Sr. No. Selection Criteria Minimum requirement for frauds upto
₹ 50 crs (Fund + Non Fund based)
7. Number of judgements passed in the Indian court of Laws based on the Please submit the list of case numbers
Forensic Investigation Report submitted by the Firm/Entity as a decision for verification on-line
making reference.
10. a) Obtaining a certificate (initially and on-going basis) from the firm / To be obtained after appointment.
concern/ Entity about no disciplinary proceedings pending or
contemplated against them by the Institute of Chartered Accountants
of India / Reserve Bank of India / SEBI.
d) There will not be any criminal case pending against any Court of Law
against the firm /entity and/or its partners.
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Sr. No. Selection Criteria Minimum requirement for frauds upto
₹ 50 crs (Fund + Non Fund based)
11. List of Banks / FIs served as concurrent auditors / Statutory auditors in the Minimum 5 reputed organisations for
past and serving at present wherever applicable (Please mention the list concurrent audit.
of banks / FIs and number of years worked with them)
12. Submission of sample reports pertaining to Forensic Investigation of large Minimum three sample reports
value Asset Frauds in banks under a large consortium lending.
13. Preferably the Firm/entity should be empanelled/ worked with Please submit list of such audits
regulatory bodies like CBI, SEBI, SFIO, EOW of State Police etc. conducted.
II. Fee
Along with application form, an application fee of ₹ 1,25,000/-+GST (18%) for empanelment of forensic audit. Out of this ₹ 25000/-+ GST
will be retained as non-refundable application fees and remaining fees of ₹1,00,000/- + GST will be retained from the firms/entities who are
selected and empanelled by IBA. Thus the fee of ₹ 1,00,000/- + GST will be refunded to those firms/entities who are not selected/empanelled
by IBA.
2) For an amount of ₹ 29,500/- (Rs.25,000 + GST of Rs.4500) towards non-refundable application fees.
The demand drafts to be drawn in favour of Indian Banks’ Association payable at Mumbai.
10
(On firm’s letter head)
Application for Empanelment of Forensic Audit
Date:
Chief Executive,
Indian Banks’ Association
World Trade Centre Complex,
Centre- I, Cuffe Parade
Mumbai- 400 005
1 Name of the Firm, full address, Contact No./E-mail
2 ICAI Registration Number of the Firm(FRN)/ Cost Accountants Firms
Registration Number (wherever applicable)
(attach copy of latest constitution certificate as received from ICAI)
3 PAN/TANNO./GST No.
(Attach supporting documents)
4 Complete address of the Head Office, Telephone No. &FAX No.
5 Date from which the firm is in Practice
6 Number of full time partners (ACA/FCA) (the number should include only
those partner who are not engaged/involved with any other CA Firm/ Cost
Accounting Firm )
7 Number of full time employee who are CA (ACA/FCA) (the number should
include only those employees who are not engaged/involved with any other
CA Firm/ Cost Accounting Firm )
8 No. of full time audit staff employed with the firm
(I) Articles/Audit clerks
(ii) Other Audit Staff
9 Details of branches, if any
(No. of branches with the name of the city/town)
Please provide your point-wise comments/compliance to the eligibility criteria stated above i.e. for
frauds above ₹ 50 crores & frauds upto ₹ 50 crores as the case may be in the following format:
Undertaking
We solemnly declare that the information furnished above is complete and entirely true and nothing
has been concealed. We affirm that terms & conditions of Indian Bank’s Association (IBA) relating
to empanelment of Forensic Auditors are acceptable to us.
In Case
Any information/ document is found untrue, IBA may take necessary action, including blacklisting
of the firm/ member, as it may deem fit.
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