CAG Empanelment 2017-18: Draft Panel for PSU Audits by CA Firms/ LLPs

CAG Empanelment for CA Firms/ LLPs for PSU Audits (2017-18): Draft Panel on CAG Website (26 Apr. to 5 May 2017)

The CAG Office had invited online Applications from the Chartered Accountant (CA) firms/ LLPs for empanelment as Auditors of PSU Companies for the Financial Year 2017-18. Last date was extended from 15 Feb. 2017 to 22 Feb. 2017, whereas last date for receipt of documents at CAG Office being 28 Feb. 2017.

A. Draft/ Provisional CAG Panel of CA Firms/ LLPs for PSU Audit 2017-18

The CAG Office will host the Draft/ Provisional Panel of CA Firms/ LLPs for PSU Audits (financial year 2017-18), indicating the position (detailed point score) of respective firms at www.saiindia.gov.in during 26 Apr. to 5 May 2017. For any query/ issue, relating to clerical errors, please contact at sao2ca5@cag.gov.in or 011-23509223/ 011-23509240.

B. CAG Notification for Empanelment of CA Firms/ LLPs for PSU Audit 2017-18

Online applications are invited from Chartered Accountants firms/ LLPs who desire to be empanelled with office of the Comptroller and Auditor General of India for appointment as auditors of Government Companies/ Corporations for the year 2017-18. The online application will be available on our website: www.saiindia.gov.in from 1 Jan. 2017 to 22 Feb. 2017; the CA firms/ LLPs can apply/ update the data showing the status of their firms as on 1 Jan. 2017. 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 printout of the acknowledgement letter generated online. The application which does not have an online acknowledgement letter would not be entertained as a valid application

CAG Notification dt. 3 Jan. 2017 for Empanelment of CA Firms/ LLPs for 2017-18

C. General Instructions for CAG Empanelment 2017-18 

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 2017 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 2017 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 2017. 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 2017.

iv) Firms that are seeking empanelment for the first time should provide information as on 1st January 2017.

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 2017. 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 2017-18 and only firms that have generated the online acknowledgement number for the year 2017-18 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 2017. It may however be noted that any changes in data occurring after 1 January 2017 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 2017-18 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 2016-17 including distribution of income to partners.

e) Income tax return for the assessment year 2016-17 of those CA employees who have joined as partners in the firm during 2015-16.

f) Copy of the annual accounts of the firm for the financial year 2015-16 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 2015-16.

h) 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.

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)-I, 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 5 May 2017. The representations will be considered on merit on case to case basis. No representation of any kind will be entertained after 5 May 2017.

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.

CAG Instructions for Empanelment of CA Firms/ LLPs 2017-18

 D. Misc.

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

CAG Empanelment of CA Firms / LLPs for PSU Audits (2016-17)

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