Karnataka Seeks To Empanel CA Firms As Forensic Auditors To Probe Deposit Frauds

The Karnataka state government is seeking applications from chartered accountant (CA) firms to be empaneled as forensic auditors to investigate deposit frauds.

The job entails conducting forensic audit related to various scam cases and submit a detailed report regarding the companies against which action has been initiated under the Karnataka Protection of Interest of Depositors in Financial Establishments Act (KPID Act) and the Banning of Unregulated Deposits (BUDS) Act, according to a public notice.

The registered CA firms, with expertise in the field of financial analysis and forensic audit of related companies/banks/cooperatives, and a minimum five years’ experience are eligible to submit their applications by 24 July.

The queries could be addressed to splocaima21@gmail.com and the proposals will be opened on 26 July.

The selected firms will assist office of the Regional Commissioner, Bengaluru division, and nodal officer and ex-officio secretary to government (economic offences), as well as Office of the Special Officer and Competent Authority (SPLOCA) and other competent authorities for conducting forensic audit related to various scam cases.

SPLOCA operates under the Karnataka government’s Revenue Department, and is tasked with implementing the Karnataka Protection of Interest of Depositors in Financial Establishments (KPIDFE) Act and certain other legislations in the state, according to its website. The main functions of SPLOCA are to prevent, enquire into and assess the claims of victims of fraud by financial enterprises, it said.

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