Frequently-Asked Questions (FAQs)

APPLICABILITY / ELIGIBILITY

Ques.:  What is cut-off date for considering the constitution of the applicant for Multipurpose Empanelment Form (MEF) 2020-2021?

Ans.: As per the Council decision, the cut-off date is as on 1st January, 2020 and no condonation of delay in submission of Form 18 beyond 29th February, 2020 (for this year only, else 31st Jan) is considered for the Constitution Certificate and Certificate of Practice  for Proprietary Concern/Partnership Firm/LLP the firm and for Individual/Sole Practitioner Members respectively. Please also refer the caption “Credit & Exclusiveness”.

 

Ques.:  What are the criteria for the eligibility for Bank   Branch Auditors’ Panel?

Ans.: Applicants who have minimum standing of continuous 3 years in profession as on 1.1.2020 and fulfilling other RBI Norms (https://www.rbi.org.in/scripts/bs_viewcontent.aspx?Id=946) would be eligible for MEF for the year 2020-21.

 

PROCESS

Ques.:  If I had registered earlier in MEF 2019-20, do I need to register again?

Ans.: The applicants who had registered earlier for MEF 2019-20 can simply login. In case the applicant does not remember the password can use the option “Forgot Password Button”, the link for reset password will be sent to the registered email-id of the applicant.

 

Ques.:  What will happen in case email-id has been changed and has forgotten the password also?

Ans.: Applicant can register himself again for the current year by entering FRN/MRN and Date of Establishment/Date of CoP, as the case may be.

 

Ques.:  Is the MEF Form pre-filled?

Ans.: Yes, MEF 2020-21 is pre-filled with details related to firm and partners as per ICAI records (in Green Colour) and other details (in White Colour) as per the data filled by the applicant in previous year form.

 

Ques.:  How would I change the pre-filled details in the MEF Form?

Ans.: (a) Green Fields are non-editable as fetched from ICAI records, any change in any of these green fields is to be got updated in ICAI’s Records through SSP. However, it may be mentioned in MOC or corresponding Grey fields but may be noted that any change will be accepted only after due verification with SSP Portal.

(b) Other details are populated from last year’s MEF and are editable and can be modified there itself.

 

Ques.:  What is Memorandum of Changes (MoCs)?

Ans.:      In MOC, the applicants can inform their details as on 01.01.2020 which as per them is not the same as appearing in the static Green fields.

It may be noted that the changes will be accepted only after due verification.

 

Ques.: Whether MEF Form can be saved page-wise?

Ans.:   Yes.

 

Ques.: Whether MEF Form can be printed for verification before its submission?

Ans.: Yes, MEF Form can be printed before submission.

 

Ques.:  Whether applicant can edit the submitted application or not?

Ans.: The application once submitted cannot be modified. However, the application can be modified any number of times before submission of MEF.

 

CREDIT & EXCLUSIVENESS

Ques.: When the credit of any Partner/Proprietor is given to the MEF applicant?

Ans.: The credit is given for the partner/proprietor/member practicing in individual name who is exclusively associated and continuing with the applicant till the time of finalization of RBI Panel.

 

Ques.:  When is the partner/proprietor/member practicing in individual name is considered as not exclusively associated with the applicant?

Ans.: The following partner/proprietor/member practicing in individual name is considered as non- exclusive:

(a) Members associated with any other concern (other than Applicant).

(b) Proprietor/Partner and also having Sole Practice (Individual).

(c) Applicant is Proprietor and is having more than one Proprietary Concern.

(d) Partner/Proprietor/Sole Practice or in Employment other than the Applicant Concern.

The above conditions prevailing even on a single day till finalization of panel will lead to non-exclusivity.

 

Ques.:    What will happen when applicants of MEF having partners in common apply?

Ans.:  Out of the Multiple firms with Common Partners, one firm can apply for  Bank Branch Auditors’  Panel while rest of the firms can apply for Other Panels (other than Bank Branch Auditors’ Panel) by indicating their option as “Application for Other than BBA Panel”. A unique number will be allotted to such firms.

 

In case, more than one firms have applied for BBA Panel, the firms other than the firm which wants to remain eligible for BBA Panel have to submit NOC and such firms will be considered for Other Panel only.

 

UNIQUE CODE NUMBER (UCN)

Ques.: Is Unique Code Number (UCN) allotted to applicants who are not eligible for Bank Branch Auditors’ Panel?

Ans.: Yes, the applicants who are not eligible for Bank Branch Auditor’s panel will also be allotted UCN except for the following applicants:

  • Members practicing in their individual names:
    • Having no full-time CoP and/or
    • Associated with any other firm as Partner/Proprietor/Chartered Accountant employee.
  • In case of firm:
    • If none of the Partner/Proprietor is exclusively associated with that firm

 

Ques.: What should be done of the Unique Code Number (UCN) allotted to applicant in Individual capacity on forming Sole Proprietary Concern?

Ans.:   Any Member who has been allotted UCN while practicing in individual name should continue to use the same UCN even on forming sole proprietary concern (may be mentioned in grey field). The UCN will be incorporated after due verification.

 

MISCELLANEOUS

Ques.: Applicant completed four year of Audit Cycle and cooling is applicable at their location (at the 33 centres (viz. Mumbai, Kolhapur, Pune, Solapur, Thane, Kolkata, Chennai, Coimbatore, Delhi/ New Delhi, Ajmer, Bikaner, Jaipur, Kota, Udaipur, Ahmedabad, Vadodara, Surat, Hyderabad, Chandigarh, Raipur, Faridabad, Gurgaon, Panchkula, Panipat, Sonipat, Bangalore, Ernakulam, Indore, Nagpur, Ludhiana, Jodhpur, Bhilwara, and Ghaziabad), whether applicant needs to apply or not?

Ans.:  The period of compulsory rest of two years after completion of four years of continuous branch audit will not be counted if applicant does not fill the MEF Form and / or is eligible for Bank Branch Auditors’ Panel. In such cases, the applicant will not be eligible for Bank Branch Auditors’ Panel even after completing 2 years. Therefore, applicant should be eligible for Bank Branch Auditors’ Panel and submit their application complete in all perspective.

 

DECLARATION

Ques.: How can an Applicant submit Declaration

Ans.:   For MEF 2020-21, the declaration for the MEF Application will be sought from the member/ partners/ proprietor only through validation of One Time Password (OTP).

  • The OTP will be sent to the Email-id and Mobile No. as registered in SSP i.e ICAI records.
  • Any modification required in email or mobile number, has to be done in SSP only. No such changes would be allowed in MEF.
  • The declaration will be valid only if OTP is validated by all the partners/ proprietor/ Member practicing in individual name. In case, even one partner has not validated, the MEF application will be rejected. However, in case of the partner(s) who has retired /left after 01.01.2020 till the date on which the data is verified second time for finalization of panel (normally this verification is done in month of Oct./ Nov.), all such modifications have to be done through SSP Portal and informed to us through Grey fields.
  • The OTP once send will remain valid for 5 days.

 

Ques.: Whether Retired/Resigned partner(s) needs to validate the declaration through OTP?

Ans.:   In case of the partner(s) who has retired /left after 01.01.2020 till the date on which the data is verified second time for finalization of panel (normally this verification is done in month of Oct./ Nov.), all such modifications have to be done through SSP Portal and informed to PDC through grey fields. 

 

FINANCIAL DOCUMENT

Ques.: Whether Financial Documents for MEF 2020-21 is to be submitted?

Ans.: Financial Document is to be uploaded by all the applicants for the firm (not by an individual) and continuing partners( who have joined the firm on or before 31st March 2019) before submission of MEF, else the MEF Form will not be submitted.

 

PAID EMPLOYEE

Ques.:  If “X” a paid employee in XYZ& Co as on 01.01.2020 resigned and other paid employee “Y” joined on or before preparation of panel? Will the credit of any paid CA will be given?

Ans.:   In case, any paid Chartered Accountant resigns between 01.01.2020 till the date of final preparation of the panel for submission to RBI and another paid Chartered Accountant joins during the same period, the credit of “Y” Paid employee will be given.

 

PROFESSIONAL STAFF & BANK AUDIT EXPERIENCE

Ques.:  What is included under Professional Staff? Is it necessary to mention the same?

Ans.:   Professional Staff includes Articled Assistant, Audit Assistant and Other Professional Staff. It is suggested to mention the number of Professional Staff (Ques. 4 at Page No. 4 of MEF 2020-21) as it is one of the eligibility criteria for Bank Branch Auditors’ Panel. Please visit https://www.rbi.org.in/scripts/bs_viewcontent.aspx?Id=946 for more details.

 

Ques.:  Whether the Bank Audit Experience is to be filled by applicant?

Ans.:   As Bank Audit Experience is an important field in determining the category, the applicants are advised to fill it carefully (Ques. 5 at Page No. 4 of MEF 2020-21), please visit https://www.rbi.org.in/scripts/bs_viewcontent.aspx?Id=946 for more details.