{"id":1107,"date":"2015-09-21T00:00:00","date_gmt":"2015-09-20T18:30:00","guid":{"rendered":""},"modified":"2015-12-30T17:51:41","modified_gmt":"2015-12-30T12:21:41","slug":"oriental-insurance-invited-loi-for-appointment-of-investment-risk-management-systems-and-process-audit","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/opportunities\/oriental-insurance-invited-loi-for-appointment-of-investment-risk-management-systems-and-process-audit\/","title":{"rendered":"Oriental Insurance invited LOI for appointment of Investment Risk Management Systems and Process Audit"},"content":{"rendered":"

THE ORIENTAL INSURANCE COMPNAY LIMITED, HEAD OFFICE <\/p>\n

A-25\/27
\nASAF ALI ROAD NEW DELHI 110002 <\/p>\n

website www.orientalinsurance.org.in<\/a> Phone No
\n011-43659539,43659525 <\/p>\n

CIN:U66010DL1947G01007158 <\/p>\n

Annexure-I <\/p>\n

Letter of Interest for appointment of Investment Risk
\nManagement <\/p>\n

Systems and Process Auditor <\/p>\n

Our Company is a leading General Insurance Company in India
\nand we propose to select an Audit Firm of repute for conducting Investment Risk
\nManagement Systems and Process Audit of our Company as per IRDAI directives
\nissued vide Circular No.INV\/CIR\/023\/2009-10 dated 04.08.2009 and New
\nNotification No.IRDA\/Reg\/16\/74\/2013 Dt 16th Feb 2013. <\/p>\n

The Audit is to be conducted at our Head Office located in
\nDelhi. The eligibility criteria for selection of the Audit Firm is as per
\nreferred circular. <\/p>\n

Letter of Interest is invited in the attached prescribed
\nformat from the Audit Firms who fulfill the eligibility criteria. The Financial
\nQuote is also to be submitted along with the Letter of Interest. It is also
\nnecessary to send the Letter of Interest under two cover systems. a) Letter of
\ninterest in the prescribed format in one cover and b)Financial Quote in another
\ncover. Both the envelopes duly sealed should be sent in one envelop marking
\nthereon ” Letter of Interest” and ” Financial Quote”. The
\nsame may be sent in the name of Sh. N.L. Kothari, Chief Manager, Investment
\nAccounts Department, The Oriental Insurance Company Limited, Head Office,
\nOriental House,A- 25\/27, Asaf Ali Road, New Delhi-110002 and should reach on or
\nbefore 4.30 PM 05.10.2015.<\/strong>The letter of Interest can be sent by Speed Post\/in
\nperson but must be received before 4.30 PM on 05.10.2015.<\/strong> For any query contact
\nmay be made with Sh. N.L. Kothari, Chief Manager whose phone no. is
\n011-43659539 or on e-mail nlkothari@orientalinsurance.co.in. Alternate contract
\nperson is Sh D.K.Bargoti Chief Manager, phone no 011-43659525 <\/p>\n

The interested CA firms can find further details relating to
\nthe above by logging in to our website <\/strong>www.orientalinsurance.org.in <\/p>\n

Format for letter of Interest for selection of Audit Firm of
\nChartered Accountants for Investment Risk Management Systems and Process Audit <\/strong><\/p>\n

<\/p>\n\n\n\n\n\n\n\n\n\n\n
 SI. No<\/span>. <\/td>\n Particulars <\/td>\n <\/td>\n<\/tr>\n
 1. <\/td>\n Name and Address of the Firm <\/td>\n <\/td>\n<\/tr>\n
 2. <\/td>\n Whether Registered with ICAI if yes, Registration Number <\/td>\n <\/td>\n<\/tr>\n
 3. <\/td>\n Names of Partners, Membership Number, Qualification and Experience <\/td>\n <\/td>\n<\/tr>\n
 4. <\/td>\n The Firm should have experience, for at least four years, in conducting reviews of Risk Management Systems and Process of either Bank or Mutual Funds or Insurance Companies or have, on behalf of IRDAI conducted Investment Inspection of Insurance Companies. <\/td>\nIf yes, the details of the Bank, Mutual Funds or Insurance Companies audited with the period for which the audit was conducted shall be provided.
Documentary evidence to be enclosed.<\/strong>  <\/td>\n<\/tr>\n
 5. <\/td>\n On the date of appointment as an Auditor of certifying Investment Risk Management Systems and Process, the auditor must not hold more than two audits of Internal, Concurrent and Risk Management Systems Audit, all taken together. Hence, the Audit firm, can at the maximum hold not more than three Audit (i.e. Investment Risk Management Systems and Process Audit, Internal Audit, Concurrent Audit \u2014 all taken together), apart from Statutory Audits at any point of time. <\/td>\n Please give the details <\/td>\n<\/tr>\n
 6. <\/td>\n The Auditor should not have been prohibited \/ debarred by any regulating agency including IRDAI, RBI, SEBI, ICAI etc. <\/td>\n <\/td>\n<\/tr>\n
 7. <\/td>\n The Auditor appointed for certifying the Investment Risk Management Systems and Process, should not have conducted the following assignments for the same Insurer proposing to be appointed as System Auditor, for a period of two years immediately preceding his appointment.
\u2022 Statutory Audit <\/p>\n
\u2022 Any Internal Audit <\/div>\n
\u2022 Any Concurrent Audit<\/div>\n
\u2022 Any consulting assignment, whether or not related to audit                 Function<\/div>\n<\/td>\n
 Please give de<\/span>tails<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/p>\n

Place: <\/strong><\/p>\n

Date: <\/strong><\/p>\n

CHARTERED ACCOUNTANTS  <\/strong><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

THE ORIENTAL INSURANCE COMPNAY LIMITED, HEAD OFFICE  A-25\/27 ASAF ALI ROAD NEW DELHI 110002  website www.orientalinsurance.org.in Phone No 011-43659539,43659525  CIN:U66010DL1947G01007158 Annexure-I Letter of Interest for appointment of Investment Risk Management Systems and Process Auditor Our Company is a leading General Insurance Company in India and we propose to select an Audit Firm of repute for … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[280],"yoast_head":"\nOriental Insurance invited LOI for appointment of Investment Risk Management Systems and Process Audit - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/opportunities\/oriental-insurance-invited-loi-for-appointment-of-investment-risk-management-systems-and-process-audit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oriental Insurance invited LOI for appointment of Investment Risk Management Systems and Process Audit - All About Finance\" \/>\n<meta property=\"og:description\" content=\"THE ORIENTAL INSURANCE COMPNAY LIMITED, HEAD OFFICE  A-25\/27 ASAF ALI ROAD NEW DELHI 110002  website www.orientalinsurance.org.in Phone No 011-43659539,43659525  CIN:U66010DL1947G01007158 Annexure-I Letter of Interest for appointment of Investment Risk Management Systems and Process Auditor Our Company is a leading General Insurance Company in India and we propose to select an Audit Firm of repute for ... 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