Canara Bank Concurrent Auditors Empanelment for FY 2025–26

Canara Bank Concurrent Auditors Empanelment for FY 2025–26

Canara Bank has invit­ed appli­ca­tions from eli­gi­ble Char­tered Accoun­tant firms for empan­el­ment as Exter­nal Con­cur­rent Audi­tors (ECA) for the peri­od from 1st July 2025 to 30th June 2026. The engage­ment will be branch-spe­cif­ic and is sub­ject to strict eli­gi­bil­i­ty and com­pli­ance conditions.

Last Date to Apply- 17.05.2025

Eligibility Criteria & Mandatory Conditions

• Appli­cants must be a Pro­pri­etor­ship, Part­ner­ship, or LLP firm reg­is­tered with ICAI and empan­eled with RBI for bank audits.
• The firm or any of its part­ners must not have any loan expo­sure (except against own deposits) in the pro­posed branch.
• Must not be involved in any statu­to­ry, cred­it, or val­u­a­tion assign­ments with Canara Bank concurrently.
• Dis­qual­i­fi­ca­tions under Sec­tion 141 of the Com­pa­nies Act, 2013 or black­list­ing by ICAI, IBA, RBI, or oth­er banks will ren­der the appli­cant ineligible.

Audit Tenure & Scope

• Ini­tial term: 12 months, extend­able twice by 1 year, sub­ject to performance.
• Audit will cov­er rou­tine trans­ac­tions, high-risk areas, ear­ly fraud sig­nals, and com­pli­ance gaps.
• Report­ing is to be made through the Bank’s web-based audit plat­form with a struc­tured Exec­u­tive Sum­ma­ry and risk rating.

Performance Monitoring & Renewal

• Half-year­ly reviews will be con­duct­ed by Zon­al Inspec­torates on:
  • Qual­i­ty and time­li­ness of audit
  • Detec­tion of income leak­ages and irregularities
  • Com­pli­ance with audit norms and inter­nal con­trol reinforcement

Audit Fee Structure

• Month­ly fees range from ₹17,500 to ₹1,00,000 based on branch busi­ness size and spe­cial­iza­tion (e.g., Forex, Cred­it Cards, MSME Sulabhs).
• Fee includes ver­i­fi­ca­tion of up to 20 secu­ri­ties; addi­tion­al ver­i­fi­ca­tions attract extra charges.
• No TA/DA or work­shop allowances are provided.

Application Process

• Apply online only at https://canarabankcsis.in/ECA/ECAHome.aspx with up to three pre­ferred branch locations.
• Pro­vi­sion­al selec­tion will be com­mu­ni­cat­ed via email. Final selec­tion requires sub­mis­sion of soft copies of reg­is­tra­tion, RBI grad­ing, cre­den­tials, and undertakings.