Andhra Pradesh State Co-operative Bank Ltd Invites Application for Concurrent Audit for FY 2025–26

Andhra Pradesh State Co-oper­a­tive Bank Ltd Invites Appli­ca­tion for Con­cur­rent Audit for FY 2025–26

The Andhra Pradesh State Co-oper­a­tive Bank Ltd. (APCOB) has issued an invi­ta­tion for quo­ta­tions from eli­gi­ble Char­tered Accoun­tant (CA) firms to con­duct concurrent/external audits for the finan­cial year 2025–26. The audit will encom­pass the bank’s Head Office and 18 branch offices across Andhra Pradesh.

Key Dates to Remember:

• Open­ing Date for Receipt of Appli­ca­tions: 7th May 2025
• Last Date for Receipt of Appli­ca­tions: 20th May 2025
• Open­ing of Tech­ni­cal Bids: 21st May 2025
• Open­ing of Finan­cial Bids: 22nd May 2025

Eli­gi­bil­i­ty Cri­te­ria:
To qual­i­fy, CA firms must:

• Be reg­is­tered with ICAI and fall under Cat­e­go­ry I, II, or III.
• Have a min­i­mum of 5 years of expe­ri­ence in bank audits.
• Have DISA-qual­i­fied part­ners list­ed with ICAI.
• Demon­strate pro­fes­sion­al com­pe­tence based on the num­ber of FCAs/ACAs, estab­lish­ment year, and past audit experience.

Scope of Work:
Select­ed firms will be respon­si­ble for con­duct­ing detailed audits in line with RBI and NABARD guide­lines, covering:

• Branch Audits: Includ­ing cash & gold ver­i­fi­ca­tion, deposits, advances, house­keep­ing, and rev­enue aspects.
• Head Office Audits: Includ­ing HRD, Loans & Advances, Insti­tu­tion­al Cred­it, Premis­es, Pub­lic Rela­tions, Sta­tionery, IT, and Risk Management.
• Cred­it Audit: For sanc­tions above ₹25 lakh (fresh), ₹35 lakh (renewals), and ICD loans on a quar­ter­ly basis.
• Audi­tors must also cer­ti­fy bal­ance sheets, tri­al bal­ances, and ensure com­pli­ance with statu­to­ry norms.

Fee Struc­ture:

• ₹7,000/- per branch per quar­ter (includ­ing Head Office)
• ₹5,000/- per month for Funds and Accounts Depart­ment (FAD) and Insti­tu­tion­al Cred­it Depart­ment (ICD)

Appli­ca­tion Process:
Firms must sub­mit duly filled hard copies of their appli­ca­tions and sealed finan­cial bids to APCOB’s Head Office, Vijayawa­da, by 20th May 2025. Incom­plete or non-com­pli­ant appli­ca­tions will be sum­mar­i­ly rejected.

Impor­tant Note:
Any dis­crep­an­cies in eli­gi­bil­i­ty or mis­rep­re­sen­ta­tion may lead to dis­qual­i­fi­ca­tion, even post-appoint­ment. The final deci­sion rests sole­ly with APCOB.

For more details, appli­cants are encour­aged to refer to the bank’s offi­cial com­mu­ni­ca­tion or con­tact the IAD depart­ment via iad@apcob.org.