CAG Panel / Empanelment of CA Firms / LLPs for PSU Audits (2016-17)
a) Draft or Provisional CAG Panel for 2016-17
The Draft / Provisional Panel of CA firms / LLPs for the year 2016-17 indicating the position (detailed point score) of the firms will be hosted by o/o CAG from 25 April, 2016 to 04 May, 2016. Representation/ Queries, if any, may be sent to [email protected] by 04 May, 2016 or please contact at at 011-23509223, 011-23509240.
b) CAG Invites Applications for Empanelment of CA Firms / LLPs for 2016-17
The CAG Office has invited online Applications from the Chartered Accountant (CA) firms/ LLPs to be empanelled for appointment as auditors of Government Companies/ Corporations for the year 2016-2017. The online application forms are available on CAG website during 1st January 2016 ~ 15th February 2016. It may be noted that though the last date for online application has been extended to 22nd February 2016, however, last date for receipt of documents / hard copies of the applications at CAG Office continue to be 15th March, 2016 (i.e. no extension).
CA Firms based in Haryana who could not apply for CAG Empanelment due to local rampant disturbances may give the required details regarding the firms/partners in hard copy by last date of submission of documents i.e. 15th March, 2016.
The CA firms/ LLPs can apply/ update the data showing the status of their firms as on 1st January 2016. After filling/ updating the data, they are required to generate online acknowledgement letter for the year. They are also required to submit hard copies of the relevant documents in support of their online application along with a print out of the acknowledgement letter generated online. The application which does not have an online acknowledgement letter would not be entertained as a valid application.
c) General Instructions for CAG Empanelment 2016-17
1. Chartered Accountant firms (firm) and Limited Liability Partnership firm (LLP) in the country with at least one full time FCA (Partner/Sole Proprietor) as on 1st January 2016 can apply for empanelment with the office of the CAG of India for allotment of audit of Public Sector Undertakings/Statutory Corporations for the year 2016-17.
2. The firms who intend to be empanelled with this office need to submit their application online from 1st January to 22nd February 2016 on the website www.saiindia.gov.in. It is advised to submit the application well in advance to avoid last minute rush.
3. The information to be given in the application should be the position as on 1st January 2016. Firms that are already empanelled with the CAG’s office need only to modify the information that is already available in the application format for changes if any, reflecting the status of such firms as on 1st January 2016.
4. Firms that are seeking empanelment for the first time should provide information as on 1st January 2016.
5. The information filed online in the application can be edited/modified any number of times till last date of submission.
6. Please fill up e-mail ids and mobile numbers correctly as userid/password will be communicated through these modes.
7. All applicant firms will be given unique online acknowledgement number for the year 2016-17 and only firms that have generated the online acknowledgement number for the year 2016-17 will be considered for empanelment.
8. The online data submitted by the CA firms should match with the updated data of the firm available with the Institute of Chartered Accountants of India showing the position as on 1st January 2016. It may however be noted that any changes in data occurring after the cut-off date of 22nd February 2016 that lead to reduction in the rank of the applicant firm shall be taken into account.
9. The firms who have submitted the online application form are required to furnish the following documents, which should reach this office by 15th March 2016.
(i) Online acknowledgement letter for the year 2016-17 generated at the time of filing online application.
(ii) Statement I: Undertaking signed by the partners/sole proprietor of the firm/LLP.
(iii) Statement II: Signatures of CA employees of the firm/LLP.
(iv) Copy of the Income Tax return of the firm along with computation for the assessment year 2015-16 including distribution of income to partners.
(v) Income tax return for the assessment year 2015-16 of those CA employees who have joined as partners in the firm after 1st April 2014.
(vi) Copy of the annual accounts of the firm for the financial year 2014-15 along with schedules indicating the distribution of income among the partners.
(vii) Statement-III Details of service tax paid by the firm/LLP.
(viii) In case of CISA qualified members, copy of the final CISA certificate granted by the “Information Systems Audit and Control Association” after successfully meeting all requirements.
(ix) Duly filled up check list of the documents as per format. (To be placed on the top).
10. The above documents should be addressed to;
Director General (Commercial)-I, Office of the Comptroller & Auditor General of India, 10, Bahadur Shah Zafar Marg, New Delhi-110002.
11. On the top of the envelope containing the documents, the following should be stated:
“Application for empanelment of CA firms/LLPs with office of the CAG of India”
12. Further it may be noted that;
The documents should be properly tagged and page numbered. This office owns no responsibility for loss of any documents, which are not properly tagged or sent subsequently in piecemeal.
Only applications complete in all respects will be considered for empanelment. Incomplete application/documents received after the prescribed last date will not be entertained. Discrepancy (ies),if any, will not be intimated.
13. A provisional panel will be available on the website during last week of April 2016 indicating the position of empanelment of the firm. Representation, if any, for clerical mistake in the online data only will be accepted upto 5th May 2016. The representations will be considered on merit on case to case basis. No representation of any kind will be entertained after 5th May 2016.
14. The CAG reserves the right to call for additional information.
15. The decision of the Office of the CAG of India in this respect will be final.
16. The information submitted by the applicant firms is subject to verification with the details to be provided by the Institute of Chartered Accountants of India and any other organization(s) as may be required. If any of the information so furnished is later found to be not correct or false or there has been suppression of material information, the firm would stand disqualified from empanelment/allotment of audit for 3 to 5 years and might also be liable for disciplinary action under the Chartered Accountants Act, 1949 and the regulations framed there-under.
17. This office reserves the right to inspect the offices of the Chartered Accountant firms empanelled with this office to verify the correctness of the information furnished in the application for empanelment.
18. This office reserves the right to take necessary action in case the firm refuses to take up the audit assignment without valid reason.