Applications are invited from CA Firms/ LLPs for CAG Empanelment regarding PSU Audits of Financial Year (FY) 2022-23, i.e. as Statutory Auditors of Government Companies/ Public Sector Undertakings (PSUs), including Autonomous Bodies, as may be decided, in line with provisions of the Companies Act 2013.
Filing of Empanelment Applications and generation of ‘ONLINE’ Acknowledgement Letter are mandatory, failing which applications will not be considered for empanelment. Further, the applicants are required to submit a print out of such ‘ONLINE’ acknowledgement letter along with hard copies of supporting documents, latest by 28/02/2022, in the Office of the Director General (Commercial)-I, Office of the Comptroller & Auditor General of India, 10, Bahadur Shah Zafar Marg, New Delhi110002.
|CAG Empanelment Update 2022-23: Provisional empanelment status of the firm along with provisional point score for the year 2022-2023 will be available on the CAG website from 06/05/2022 to 17/05/2022. Representations, if any, for rectification of clerical mistakes in the online data may be sent by email at [email protected] upto 17/05/2022.|
CAG Notification dt. 01/01/2022: Empanelment of Chartered Accountants (CA Firms/ LLPs) for the Financial Year 2022-23
Online Applications are invited from Chartered Accountant Firms/ LLPs who desire to be empanelled with the office of the Comptroller and Auditor General (C&AG) of India for the year 2022-23 for considering for appointment as 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. Online application form along with detailed instructions in this regard will be available on the website http://www.cag.gov.in from 01/01/2022 to 15/02/2022. The applicant firms/ LLPs will have to fill/ update the data showing the status of their firm as on 01/01/2022. 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 to this office by 28/02/2022.
General Instructions (updated 01/01/2022) for CAG Empanelment of CA Firms/ LLPs for the FY 2022-23
1. Chartered Accountant firms (firms) and Limited Liability Partnership firm (LLPs) in the country with at least one full time FCA (Partner/ Sole Proprietor) as on 01/01/2022 can apply for empanelment with the office of the C&AG of India for the year 2022-23 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 policy of empanelment of CA Firms/ LLPs and appointment of auditors is available on the website http://www.care.cag.gov.in.
2. The firms/ LLPs who intend to be empanelled with this office need to submit their application online from 01/01/2022 to 15/02/2022 on the website http://www.cag.gov.in. It is advised to submit the application well in advance to avoid last minute rush. In case of failure to file the online application, no request for empanelment will be entertained.
3. The information to be given in the application should be the position as on 01/01/2022. Firms/ LLPs that are already empanelled with the CAG’s office need to only modify the information that is already available in the application format for changes, if any, reflecting the status of such firms as on 01/01/2022.
4. Firms/ LLPs that are seeking empanelment for the first time should provide information as on 01/01/2022.
5. The information filed online in the application can be edited/ modified any number of times till last date of submission.
6. The firms/ LLPs are required to submit/ upload scanned copies of documents while submitting the online application. A copy of these documents is also required to be sent through post/ courier which should reach this office latest by 28/02/2022. Only applications complete in all respects will be considered for empanelment. Incomplete application/ documents received after the prescribed last date(s) will not be entertained.
7. All applicant firms/ LLPs, after filing the online application form and uploading the documents, will have to generate online acknowledgement number for the year 2022-23 and only firms/ LLPs that have generated the online acknowledgement number for the year 2022-23 will be considered for empanelment.
8. The online data submitted by the firms/ LLPs should match with the updated data of the firms/ LLPs available with the Institute of Chartered Accountants of India (ICAI) showing the position as on 01/01/2022. It may however be noted that any changes in data occurring after 01/01/2022 that lead to reduction in the rank of the applicant firm/ LLP shall be taken into account.
9. The applicant firms/ LLPs are required to furnish the following documents:
i) Acknowledgement letter for the year 2022-23 generated after filing online application and uploading documents. (To be submitted with hard copy only).
ii) Statement I: Undertaking signed by all 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/ LLP along with computation of income for the assessment year 2021-22 including distribution of income to partners.
v) Income tax return for the assessment year 2021-22 in respect of the partners who joined the firm/ LLP as partners in the firm/ LLP after 01/04/2020 but prior to such joining, were associated as CA employees in the firm/ LLP.
vi) Copy of the annual accounts of the firm for the financial year 2020-21.
vii) Copy of schedules to annual accounts for the financial year 2020-21 indicating the distribution of income (including share of profit/ loss, remuneration and interest on capital) among the partners.
viii) Statement-III: Details of GST paid by the firm/ LLP for the financial year 2020-21.
ix) 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.
x) 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:
The Director General (Commercial)-I,
Office of the Comptroller & Auditor General of India,
10, Bahadur Shah Zafar Marg,
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. 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.
13. Non submission of the documents listed at S.No. 9 above may result in non-consideration of the application for empanelment filed online by the firm/ LLP.
14. Partners and CA employees whose data is filed by the firm/ LLP in the online application but whose signatures are not furnished in Statement I and Statement II, respectively, will not be considered for empanelment and award of points.
15. Break-up of income of partners filed during online application should match with the distribution of income as reflected in the schedules to the Annual Accounts as mentioned in S. No. 9, item vii above. In case of mismatch between these two in respect of any of the partners, such partner will not be considered for the purpose of empanelment and award of points.
16. A provisional panel will be made available on the website in the first week of May 2022 for a period of 10 days indicating the position of empanelment and point score of the firm/ LLP. Notification in this regard will be published on the website of this office and a notice for the same will be sent to the applicant firms/ LLPs through email, in the last week of April 2022. Representation, if any, for clerical mistake made by the firm/ LLP, in the online data only, will be accepted during the above mentioned period of 10 days. The representation will be considered on merit on case to case basis. No representation of any kind will be entertained after the period of 10 days as mentioned above.
17. The CAG reserves the right to call for additional information with regard to the online application and documents submitted by the firm/ LLP.
18. The information submitted by the applicant firms/ LLPs is subject to verification with the details to be provided by the Institute of Chartered Accountants of India (ICAI) 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/ LLP would stand disqualified from empanelment/ allotment of audit and might also be liable for disciplinary action under the Chartered Accountants Act, 1949 and the regulations framed there-under.
19. After finalisation of the panel, the same will be displayed on the website http://www.cag.gov.in from where the empanelled firms/ LLPs will be able to take print out of the empanelment letter.
20. The decision of the Office of the C&AG of India, with regard to empanelment of firm/ LLP and consideration for appointment as auditor, will be final.
21. This office reserves the right to inspect the offices of the Chartered Accountant firms/ LLPs empanelled with this office to verify the correctness of the information furnished in the application for empanelment.
22. This office reserves the right to take necessary action in case the firm/ LLP refuses to take up the audit assignment without valid reason.
23. It may be noted that the data filed by the firms/ LLPs will primarily be used for empanelment with the Office of CAG for the purpose of appointment of auditors of Companies as per Section 139(5) and 139(7) of the Companies Act 2013 and of Statutory Corporations/ Autonomous Bodies as per the provisions of their respective Acts. However, the same may also be used for preparation of panels for other organisations such as Reserve Bank of India, Life Insurance Corporation of India etc. as and when requested for by such organisations.