CAG Empanelment 2019-20 for PSU Audits by CA Firms/ LLPs
Office of CAG has invited Applications from ‘Chartered Accountant (CA) Firms/ LLPs’ for empanelment as Auditors of Public sector Undertakings (PSUs) for Financial Year (FY) 2019-20. Online Application Forms could be duly filled at CAG website during 1 Jan. 2019 to 15 Feb. 2019, followed with submission of hard copies of requisite documents latest by 28 Feb. 2019.
CA Firms empanelled by Office of CAG will be appointed as statutory auditors for the FY 2018-19 in Government Companies/ PSUs, including Autonomous Bodies, as may be decided, in line with provisions of the Companies Act 2013. Filing of Empanelment Applications and generation of Acknowledgement Letter ‘ONLINE’ are mandatory, failing which applications will not be considered for empanelment. Further, the applicant Audit Firms/ LLPs are required to submit a print out of such ‘ONLINE’ generated acknowledgement letter along with hard copies of supporting documents by 28 Feb. 2019.
CAG Notification for Empanelment of CA Firms/ LLPs for PSU Audit 2019-20
Online Applications are invited from Chartered Accountant firms/ LLPs who desire to be empanelled with the office of the Comptroller and Auditor General of India for the year 2019-2020 for the purpose of appointment of auditors of Companies as per Sections 139 (5) and 139(7) of the Companies Act 2013 and of Statutory Corporations/ Autonomous Bodies as per the provisions of their respective Acts. The online application along with detailed instructions in this regard will be available on our website www.cag.gov.in from 1 January 2019 to 15 February 2019. The firms/ LLPs can apply/update the data showing the status of their firm as on 1 January 2019. After filling/updating the data, the firms/ LLPs will be required to generate online acknowledgement letter for the year. If the firms/ LLPs fail to generate online acknowledgment letter, their application would not be considered for empanelment. The firms/ LLPs will be required to submit a print out of the acknowledgement letter generated online and also hard copies of the documents in support of their online application by 28 February 2019.
General Instructions for CAG Empanelment 2018-19
i) 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 1 January 2018 can apply for empanelment with the office of the CAG of India for considering for allotment of audit of Public Sector Undertakings/ Statutory Corporations for the year 2017-18.
ii) The firms who intend to be empanelled with this office need to submit their application online from 1 January to 15 February 2018 on the website www.saiindia.gov.in. It is advised to submit the application well in advance to avoid last minute rush.
iii) The information to be given in the application should be the position as on 1 January 2018. 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 1 January 2018.
iv) Firms that are seeking empanelment for the first time should provide information as on 1 January 2018.
v) The information filed online in the application can be edited/modified any number of times till last date of submission.
vi) Please fill up e-mail ids and mobile numbers correctly as userid/password will be communicated through these modes.
vii) The firms are required to submit/upload scanned copies of documents online. A copy of these documents is also required to be sent through post/ courier which should reach this office latest by 28 February 2018. Only applications complete in all respects will be considered for empanelment. Incomplete application/ documents received after the prescribed last date will not be entertained.
viii) All applicant firms after filing the online application form and uploading the documents will have to generate online acknowledgement number for the year 2018-19 and only firms that have generated the online acknowledgement number for the year 2018-19 will be considered for empanelment.
ix) 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 1 January 2018. It may however be noted that any changes in data occurring after 1 January 2018 that lead to reduction in the rank of the applicant firm shall be taken into account.
x) The firms are required to furnish the following documents:
a) Acknowledgement letter for the year 2018-19 generated after filing online application and uploading documents. (To be submitted with hard copy only).
b) Statement I: Undertaking signed by the partners/sole proprietor of the firm/LLP.
c) Statement II: Signatures of CA employees of the firm/LLP.
d) Copy of the Income Tax return of the firm along with computation for the assessment year 2017-18 including distribution of income to partners.
e) Income tax return for the assessment year 2017-18 in respect of the partners who joined the Firm/LLP as partners in the firm/ LLP after 1 April 2016 but prior to such joining, were associated as CA employees in the Firm/ LLP.
f) Copy of the annual accounts of the firm for the financial year 2016-17 along with schedules indicating the distribution of income among the partners.
g) Statement-III Details of service tax paid by the firm/LLP for the financial year 2016-17.
h) In case of CISA qualified members, self attested copy of the final CISA certificate granted by the “Information Systems Audit and Control Association”, USA and an undertaking as per Statement-IV.
i) Duly filled up check list of the documents as per format. (To be placed on the top).
xi) The above documents should be addressed to:
Director General (Commercial), Office of the Comptroller & Auditor General of India, 10, Bahadur Shah Zafar Marg, New Delhi-110002.
xii) 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”
xiii) 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.
xiv) A provisional panel will be available on the website during last week of April 2017 indicating the position of empanelment of the firm. Representation, if any, for clerical mistake in the online data only will be accepted upto 4 May 2018. The representations will be considered on merit on case to case basis. No representation of any kind will be entertained after 4 May 2018.
a) The CAG reserves the right to call for additional information.
b) The decision of the Office of the CAG of India in this respect will be final.
c) 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.
d) 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.
e) This office reserves the right to take necessary action in case the firm refuses to take up the audit assignment without valid reason.
|Related Information (PDF Copy):|
|FAQs about CAG Empanelment|
|CAG Directions 2014-2015 onwards under S.143(5) of CA 2013|
|CAG Terms & Conditions for Appointment of Auditors under S. 139 of CA 2013|
|CAG Policy of Empanelment|