INDIAN INSTITUTE OF MANAGEMENT
CALCUTTA
NOTICE INVITING TENDER
FOR
ENGAGEMENT OF INTERNAL AUDITOR
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Sub: Tender for Engagement of Internal Auditor
Ref: Tender Notice No: NIT/IIMC/Internal Audit/61/2018-19 Date: 28.3.2019.
Sealed tenders are invited under two bid system (i.e. Technical &
Financial) by the Indian Institute of Management, Calcutta (IIMC) for
engagement of Internal Auditor initially for the Financial Year 2019-20
and 2020-21 which may be renewed to further two years subject to
satisfactory performance.
The tender document with complete details of tender including
experience required, scope of work and terms and conditions can be
downloaded from the website www.iimcal.ac.in.
The last date for submission of Sealed tender is 22nd April, 2019 at 14.00
hrs. The technical Bids will be opened on 22nd April, 2019 at 14.15 hrs.
Earnest Money Deposit (EMD): The Earnest Money Deposit (EMD) of Rs.
20,000.00 must be submitted in the form of Demand Draft drawn in
favour of "INDIAN INSTITUTE OF MANAGEMENT CALCUTTA" payable at
KOLKATA along with tender documents. EMD will be refunded to the
unsuccessful bidders without any interest within one month of
completion of the tendering process. EMD received from the successful
bidder will be kept as Security Deposit till the completion of the
assignment. Tenders received late or without EMD shall be summarily
rejected.
TWO BID SYSTEM shall be followed for this tender. Bidder should take
due care to submit tender in accordance with requirement in sealed
covers. Bid Evaluation Criteria, shall be the basis for evaluation of
tenders. Bids submitted with incomplete information or information not
in conformity with the Bid Documents will summarily be rejected. All the
terms and conditions stated in the Bid Document are final in nature and
request for any subsequent alterations/modifications will not be
entertained. While submitting the Bids, the Bidders must exercise
utmost care to fill up the bid in all respect as per the specified terms and
conditions. Submission of the bids amounts to acceptance of all terms
and conditions mentioned therein.
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Background:
Indian Institute of Management Calcutta is established by Govt. of
India in the year 1961 as one of the first Indian Institute of
Managements. IIM Calcutta is the Institute of National Importance
declared under Indian Institutes of Management Act, 2017.
It is the first institution in India to earn a `Triple Crown' in
accreditation. The Institute is now accredited by the Association to
Advance Collegiate Schools of Business (AACSB), European Quality
Improvement System (EQUIS) & Association of MBAs (AMBA)
which have assessed and ratified the quality of the programmes by
external (of international standard) peer review processes. IIM
Calcutta was ranked for the first time in the QS Masters in
Management Ranking 2018 for its PGDM Programme and was
ranked at 46.
Indian Institute of Management Calcutta follows Accrual Basis of
Accounting as per standard accounting practices applicable. The
accounts of the Institute are prepared as per the prescribed
Guidelines and Format for Financial Statement applicable to the
Central Higher Educational Institution, which will be made
available to the selected firm.
The Accounts of the Institute are maintained through three
sections in Oracle Software. The major functions of the
Department are furnished below:
i) Central Accounts: Processes all the Bills & Vouchers by
booking in proper heads of accounts. Deals with Budget,
Annual/ half yearly Accounts, GST, Income Tax, BRS, Fixed
Assets, Statutory Matters etc.
ii) Payroll Accounts: Makes disbursements to parties, Payroll
Accounts, Pension Accounts, Provident Fund Accounts &
Investments etc.
iii) Engineering Division: Maintains Accounts for construction
Projects and also incurs expenditure for repair &
maintenance works by requisitioning fund from Accounts
Department
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The detail activities & financial Statements of the Institute can be
studied from the Annual Report of the Institute available in the
website. The Major Activities of the Institute leading to various
financial transactions are given below:
Sl. Activities/Resources Remarks
No
A Diploma/Degree Programmes for one Total Student
year & above Strength is around
1235
B Executive Programmes like MDP & Variable strength
LDP
C Staff Strength (Regular, Contractual) 268
D Outsourced through manpower 97
agency
E Total Pensioners 245
F Total Gross Fixed Assets as at Rs.317.07 Crore
31.03.2018 as per audited accounts
2017-18
G Total Inventory as at 31.03.2018 as Rs.0.24 Crore
per audited accounts 2017-18
H Total Income as at 31.03.2018 as per Rs.204.72 Crore
audited accounts 2017-18
I Total Expenditure as at 31.03.2018 as Rs.160.58 Crore
per audited accounts 2017-18
01. Notice Inviting Tender (NIT)
1.1 Proposals are invited from eligible Chartered/Cost Accountant
Firms for engagement as Internal Auditors of Indian Institute
Management, Calcutta vide a service contract with specific terms
and conditions. The contract shall be initially for a period of two
years, which may be renewed for another two years on yearly
basis subject to satisfactory performance of the Firm and with
the mutual consent of both the parties.
1.2 Interested Chartered/Cost Accountant Firms can download the
NIT document containing detailed terms and conditions, scope
and eligibility criteria from the official website:
www.iimcal.ac.in.
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1.3 The proposals (both technical and financial) by eligible
Chartered/Cost Accountant Firms shall reach the Office of the
undersigned within due date and time (i.e. 12/4/2019 at 2.00
P.M.) in the prescribed format and manner. Proposals received
after due date and time shall be rejected. There is no system of
receipt of proposal through drop box or by hand. Proposals shall
be received only through registered post/ speed post/ courier
service.
1.4 One Firm can submit only one NIT. If a Firm submits more than
one NIT, all the NITs submitted by that Firm will be rejected.
1.5 Important Information:
Sl. Particulars Information
No.
01 Start Date or availability of NIT 28.03.2019
document in the official website
02 Earnest Money Deposit Rs.20,000
05 Last date and time for receipt of NIT th
20 April, 2019
at IIMC At 2.00 P.M.
06 Date and time for opening of ITP 20th April, 2019
(Technical) At 2.15 P.M.
07 Address for submission of NIT Senior Administrative
Officer (Purchase)
08 Contact Phone No. 9437284176
Email Address fao@iimcal.ac.in
8335884000
prasantac@iimcal.ac.in
09 Website www.iimcal.ac.in
Note: In case the closing date for sale of NIT document or/and last date
for receipt of NITP happens to be a holiday for IIMC for any reason, the
activity will be held on the immediate next working day at the same time
& place.
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02. Terms of Reference (TOR)
2.1 Eligibility Criteria: The interested Bidders shall have to
comply to the following criteria to participate in the tendering
process -
a) Must have either its registered office or branch office in
Kolkata for at least 5 years. (Self-Attested copy of Registration
Certificate issued by Institute of Chartered/Cost Accountants
of India to be furnished.)
b) Must be registered with the Institute of Chartered/Cost
Accountants of India for not less than 10 years as on the last
date of submission of this RFP. (Self-Attested copy of
Registration Certificate issued by Institute to be furnished.)
c) The firm must be empanelled with Comptroller & Auditor
General of India. (Self-Attested copy of latest Comptroller &
Auditor General of India Empanelment Letter to be furnished.)
d) Must be having minimum three Fellow partners as on 1st
January, 2019 (Self-Attested copy of latest Constitution
Certificate from Institute to be furnished.)
e) Must be having a minimum five years of experience (as on
31st March, 2018 in conducing Internal Audit of Central or
State Autonomous Bodies with annual Income exceeding
Rs.20 Crores. (Self-Attested copies of Appointment Letters/
Agreements/Work Orders issued by such ABs along with
extract of Audited Financial Statements in support of income
or expenditures to be furnished.) Preference will be given to
the Firms having experience in conducting Internal Audit for
Central or State Autonomous Educational Institutions.
f) Must have conducted Internal Audit of at least two Central or
State Autonomous Bodies during last three Financial Years i.e.
from 2015-16 to 2017-18. (Self-Attested copies of
Appointment Letters/ Agreements/ Work Orders issued by
such PSUs along with proof of claim to be furnished)
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g) Must be registered under Goods &Service Tax Act. (Self-
Attested GST Registration Certificate to be furnished.)
h) Must be having minimum Average Annual Income of Rs.150
Lakh during the last 3 Financial Years i.e. from 2015-16 to
2017-18. (Self-Attested copies of Audited Profit & Loss
Accounts and Balance Sheets to be attached. Provisional Profit
& Loss Accounts and Balance Sheets will not be considered.)
i) Under Section25. (1) of the IIM, Act, 2017,The appointment of
Internal Auditor are subject to change after four years.
j) The internal auditor appointed under sub-section (/) of Section
25 of the IIM Act, 2017 or any person employed by him shall
not have any direct or indirect interest, whether pecuniary or
otherwise, in any matter concerning or related to the
administration or functions of the Institute.
2.2 Scope of Work:
The Firm shall be responsible for the following works
2.2.1 Review of Internal Control and Risk
Management System:
i. Independently review and appraise the systems of
control throughout the year (not just the financial
controls);
ii. Recommend improvements to internal controls;
iii. Ascertain the extent of compliance with
procedures, policies, regulations, statutory
obligations and other legislations;
iv. Ascertain Compliance to IIMC Act 2017, instruction
of C&AG, Standard Accounting Practices and
Guidelines of the Board
v. Provide reassurance to management that their
policies are being carried out with adequate
control of the associated risks;
vi. Facilitate good practice in managing risks
effectively;
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vii. Ensure that assets and interests are safeguarded
from fraud, deter fraudsters and possibly identify
fraud.
2.2.2 Detailed Scope of Work:
Sl.No. Area Detailed Scope
01 Revenue i. Reconciliation of Fees from students/
participants
ii. Income from Consultancy/ Executive
Programmes
iii. Interest on Investments
iv. Grants for research projects
v. Any other Income
vi. Treatment in accounts for all Income
and recommendations
02 Expenditures i. Procedures followed
ii. Treatment in Accounts
iii. 100% vouching of the transactions
iv. Reporting for any Rectification or
improvement
03 Procurement i. Tendering Processes & selection of the
of Goods & vendor/ contractor
Services ii. Accounting Treatments for Fixed Assets
and Inventory
04 Physical i. Cash Verification on monthly basis
Verifications ii. Inventory Verification on yearly basis
of Cash, iii. Fixed Assets on yearly basis except
Inventory & library books/journals
Fixed Assets
05 Investments i. Procedures followed for Investments
ii. Treatment of Income arising out of
Investments
iii. Recommendations
06 Statutory i. Compliances to Income Tax Act
Compliances ii. Compliance to GST and other Indirect
Taxes
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iii. Compliance to Labor Laws
iv. Compliance to FC laws
v. Any other statutes
07 Finance & i. Review of Account Payable and
Accounts Receivable
ii. Verification and checking of financial
transactions from cash book/bank book
and other ancillary record maintained by
the Institute
iii. Review the record/system of bill
payment to various contractors and also
to review the compliance on them with
term of contract
iv. Cash and Bank Management including
Physical verification of cash and
investment details
v. Checking of Bank Reconciliation
Statement on monthly basis
vi. Review the expenses incurred with the
approved Budget
vii. Vouching/Ledger Scrutiny
viii. Review the last statutory/Internal audit
comments and compliances
ix. Review of Half Yearly and Annual
Accounts of the Institute
x. Review of expenses on Sponsored
Projects and Its Accounts
xi. Review of Subsidiary Accounts at a
quarterly Intervals
xii. Checking of various schedules and
annexures
08 Payroll, i. Rules and Guidelines applicable Review/
Retirement pre- audit of Staff related claims like
Benefits & Medical Reimbursements, LTC etc.
Pension ii. Review/ Pre-audit for Payment of
Salary, superannuation benefits,
Pensions etc.
iii. Treatment in accounts
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09 Engineering i. Review of all receipts and payments
Division ii. Treatment in accounts
iii. Completion of Capital WIP and
conversion to Assets
iv. Any other work related to engineering
division
10 Pre Audits Pre-audit of certain specified transactions on
case to case basis restricted to compliance vis-à-
vis processes and procedures.
The following areas to be covered under pre-
audit:
i) Tendering Procedure for Capital or
Revenue Items exceeding Rs.10.00
lakhs for bidding process/selection of
vendor/contractor and terms of
reference for the same.
ii) Pre-audit of payments to the employees
leaving IIMC either on retirement (like
Gratuity, Leave Salary, Commutation of
Pension, etc.
iii) Any other cases of financial transactions
irrespective of value which the
management thinks appropriate may
ask for pre-audit.
iv) Internal Auditor is required to submit
the observation on pre-audit as soon as
possible and not exceeding 5 working
days
11 Others i. As and when required comments/
observation of the Internal Audit will be
taken on financial transaction of special
value or special nature
ii. As and when required comments/
observation of the Internal Audit will be
taken on statutory requirement for
financial transactions.
iii. Report on risk management issue and
internal control deficiencies identified
and provide recommendation for
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improving Institute's operation.
iv. Suggestion for improvement of the
existing System of Accounting, internal
control and Management Information
System (MIS)from time to time
v. Periodically reconciling Physical Assets
with Books of Accounts so as to submit
Annual Physical Verification Report
latest by 30th April.
vi. Issue certificate in form no 15 CB
relating to remittance in foreign
currency as per Income Tax Act, 1961.
The certificate must be issued within
two days of receipt of documents.
vii. Issue of Utilization Certificates for Grant
Based projects as and when required
viii. Any Other Internal Audit related matters
3. AUDITREPORT
Submission of:
i. Quarterly Internal Audit Report
ii. Audit/Review Report on Half Yearly Accounts
iii. Audit/Review Report on Yearly Accounts (including
Provident Funds)
iv. Issue certificate in form no 15 CB relating to remittance
in foreign currency as per Income Tax Act, 1961. The
certificate must be issued within two days of receipt of
documents.
v. Issue of Utilization Certificates for Grant Based projects
as and when required.
vi. Physical Verification of Inventory & Fixed Assets on
yearly basis.
4. Process of Audit:
i. Auditor's field personnel will segregate the audit
observations and discuss the same with the concerned
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department/section head for having an in depth
understanding of the issue and prepare the draft audit
report accordingly.
ii. The draft audit report will be discussed by senior level
personnel of the audit Firm with the department heads of
the Institute. If the auditor is satisfied the para will be
dropped or otherwise the para could be considered and
incorporated in the Audit Report.
iii. All the document receipt during the course of audit
should be return after completion of the audit and it shall
be your responsibility to ensure that all documents and
information received from the institute will be used
exclusively for the internal audit purposes and should be
kept confidential and not to be disclosed to third party at
any point of time.
iv. In case any serious financial irregularity and Points
relating to grave deficiencies, if found the same may be
communicated to the Management immediately without
waiting for the time of submission of the report.
v. As per requirements of the Institute the auditors will also
be asked to give presentation on finding in the Audit
Reports to the Finance Committee or to the Board of the
Institute.
5. Responsibilities of the Service Provider:
Following are the responsibilities of the Firm (Service Provider)
a) Engage in all working days of the Institute:
i. One qualified professional (CA/ CMA with at least 3
years post qualification experience): One day in a
week
ii. One Semi qualified (Inter CA/CMA with three years'
experience): All working days
iii. Two experienced Audit Assistants in all working days
of the Institute
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b) Personnel deployed should ensure proper conduct of the
deployed personnel in the office premises
c) The personnel deployed should be polite, cordial and
efficient and their actions should promote goodwill and
uphold the image of IIMC. The Firm shall be responsible for
any act of indiscipline on the part of the persons deployed.
d) Shall submit their observations on quarterly basis to IIMC
and ensure necessary compliance along with rectification/
correction, if any, by IIMC within 20 days of receipt of audit
observations.
6. Timeline:
The auditor should submit internal audit reports as per the
following timelines
Sl No Quarter Last Date to submit Quarterly Report
1 1st 15th July
2 2nd 15th October
3 3rd 15th January
4 4th 30th April
7. Payment & Price Validity :
a) The Firm shall be paid on quarterly basis an amount equal to
1/4th of annual audit fees quoted by the Firm, as agreed by
IIMC on submission of quarterly audit reports along with bills
and attendance sheets.
b) The price as quoted by the Firm (as per Annexure 2) shall
remain unchanged during the contract period.
c) Goods & Service Tax, if any, shall be paid at the applicable
rate.
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8. Period of Engagement
a) The engagement shall be for a period of two years i.e.
F.Y. 2019-20 & F.Y. 2020-21.
b) The contract may be renewed for another two years on
yearly basis in the same terms and conditions subject to
satisfactory performance of the firm and with the mutual
consent of both the parties.
c) The agency shall sign the contract (Format given in
Annexure 4) and start providing services (actual
engagement of personnel) within 21 days of issue of
Letter of Award/ Intimation.
9. Termination/ Suspension of Agreement
The contract can be terminated at any time prior to its
completion by either Party with 60 days of notice period.
10. Instructions to Bidders
10.1 Submission of the Proposal
a) The proposal shall be submitted in a sealed envelope
with clear inscription as "PROPOSAL FOR
ENGAGEMENT OF INTERNAL AUDITOR OF INDIAN
INSTITUTE OF MANAGEMENT, CALCUTTA. (IIMC), NIT
REFERENCE NO. ........................" on top of it before
due date and time.
b) The Proposal shall be in two parts i.e. Cover-A and
Cover-B. "Cover-A" shall contain the Technical Proposal
and "Cover-B" shall contain the Financial Proposal.
c) Technical and Financial Proposal shall be submitted
separately in sealed covers with clear inscription as
"TECHNICAL / FINANCIAL PROPOSAL; NIT REFERENCE
NO. ...................................." on top of respective covers
and both the sealed envelopes shall be sealed in a
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third envelop with required inscription on it as
mentioned in Clause (a) above.
d) Any material omission in the proposal shall make the
proposal unacceptable at the discretion of the
management and the bid will be liable to be rejected.
e) The Proposal shall remain valid till 120 days of the date
of submission of the proposal or award of the
assignment whichever is earlier.
10.2 Contents of the Proposal
a) The technical proposal in addition to proof of
eligibility shall contain:
1. All the information, documents and clarifications as
required under Annexure 1.
2. Copy of the NIT Document signed on every page by
the duly authorized Signatory.
b) The Financial Proposal shall be submitted in the
format given in Annexure- 2
10.3 Evaluation and Selection
a) The proposals shall be evaluated in two stages i.e.
technical evaluation and financial evaluation.
b) The Financial Proposals shall be opened of those Firms
who will qualify in the technical evaluation.
c) The qualifying score in technical evaluation is 60 out
of 100. Format for evaluation is given in Annexure 3.
d) Financial Proposals shall be opened in the presence of
the technically qualified firms' representatives, who
choose to attend in person at the address given
below:
Indian Institute of Management Calcutta
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Diamond Harbour Road, Joka
Kolkata 700104
Date of Opening of Financial Proposals shall be
communicated to the technically qualified firms.
e) For financial evaluation, Price excluding Tax shall be
taken into consideration
10.4 Award of Contract
a) Contract shall be awarded to the firm whose
evaluated bid price will be the lowest in financial bid.
b) In case two or more technically qualified firms quote
the same lowest price, the firm with the higher mark
in the technical bid shall be awarded the contract.
c) In case two or more technically qualified firms
having same technical scores quote the same lowest
price, the firm having the highest average annual
Income in last 3 Financial Years immediately
preceding to the year of award among the lowest
bidders shall be awarded the contract.
d) Any effort by a firm to influence IIMC in its decision
on bid evaluation or placement of Work Order may
result in rejection of the firm's offer.
e) Any legal dispute arising out of this is subject to
Kolkata jurisdiction only.
11. Special Conditions of Contract
a) IIMC may advise the firm to disengage any of its
staff from service, with 24 hours prior intimation, in
case the management of IIMC found any negligence
on the part of that particular staff.
b) The firm shall be totally responsible for the conduct
of the personnel engaged for the service and the
management shall not be responsible for their
conduct at any point of time.
c) In case of any damage/ pilferage caused to the
property of IIMC due to mishandling, carelessness of
the firm's personnel, the same shall be recovered
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from the firm adjusting the amount against their
quarterly bill.
d) The persons deployed shall, during the course of
their work, will have access to classified documents,
which they are not supposed to divulge to third
parties. Any breach of this condition shall make the
firm liable for penal action under the applicable laws
besides action for breach of contract.
e) The Management shall provide suitable place for
sitting for the deployed persons.
f) The firm shall also be liable for depositing all taxes,
levies, cess, etc. on account of service rendered to
IIMC with the concerned tax collection authorities,
from time to time, as per the applicable rules and
regulations. The firm shall have the responsibility to
furnish documentary evidence in support of the
statutory compliance to IIMC, as and when sought
for.
g) The Tax Deducted at Source (TDS) shall be done as
per the provisions under Income Tax Act and IIMC
shall provide TDS certificate to the Agency.
h) In case of non-performance, part performance or
non-adherence of the statutory obligations due to
negligence on part of the Firm, penalty would be
imposed by the IIMC proportionate to the extent of
default/ non-compliance.
i) IIMC shall not be responsible for any financial loss or
any injury to any person deployed by the Firm in the
course of their performing the functions/duties, or
for payment towards any compensation.
j) The Firm shall provide a suitable substitute well in
advance if there is any probability of the person
leaving the job due to his/ her own personal
reasons. The payment in respect of the overlapping
period of the substitute shall be the responsibility of
the Firm.
12. Penalty Clauses
i. In case the Firm fails to commence/ execute the work as
stipulated in the agreement or there is a breach of any
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terms and conditions of the contract, OSMC reserves the
right to impose the penalty as detailed below:
a) 2% of cost of order/ agreement per week,
up to 2 weeks delay.
b) After 2 weeks delay, IIMC reserves the
right to cancel the contract and withhold
the agreement and get this job be carried
out from other firm (s) from open market
at the competitive rates. The defaulting
firm will be blacklisted for a period of 3
years.
ii. For any breach of contract, IIMC shall impose a penalty to
the extent of Rs. 10,000/- only on the first occasion upon
the firm in the event of breach, violation or contravention
of any of the terms and conditions contained herein
brought to the notice of IIMC.
iii. If the lapse is repeated, the extent of penalty will be
doubled on each such occasion.
Senior Administrative Officer (Purchase)
IIM Calcutta
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ANNEXURE 1
Profile of the Applicant (To be furnished along with the Technical
Proposal Cover "A")
Sl Particulars Details
01 Name and Address of the Chartered/ Cost
Accountants Firm
02 Date of Registration with Institute of Date of Incorporation/
Chartered/Cost Accountants of India (Self- Registration:
Attested copy of Registration Certificate
issued by Institute of Chartered/Cost Date of Opening of Main
Accountants of India to be furnished.) Office or Branch Office
03 Year of empanelment with Comptroller &
Auditor General of India. (Self Attested copy
of latest Comptroller & Auditor General of
India Empanelment Letter to be attached.)
04 No. of FCA/FCMA Partners as on 1st January,
2019 (Self-Attested copy of latest
Constitution Certificate from Institute of
Chartered/Cost Accountants of India to be
furnished.)
05 Name, Designation, Contact No. and Address
of the Contact Person/ Local Representative
06 Years of experience (as on 31st March, 2018) Separate Sheet may be
in Conducting Internal Audit of Central or attached ,if needed
State Autonomous Bodies and PSUs with comprising of following
annual income exceeding 20 Crores. (Self- details:
Attested copies of Appointment Letters/ 1.Name of Client
Agreements/ Work Orders issued by such ABs 2. Date of Contract
along with extract of Audited Financial 3. Duration of
Statements in support of Income to be Engagement
furnished.) 4. Contract Value 5.
Contract Status
(Completed/Ongoing)
07 Experience in conducting Concurrent/
Internal Audit of Autonomous Bodies/PSU
during the last 3 financial years i.e. from
2015-16 to 2017-18. (Self Attested copies of
Appointment Letters/ Agreements/ Work
Orders issued by such Abs/PSUs along with
proof of claim to be furnished).
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08 No. of Staff of the Firm (Self-Attested copy of
documentary evidence in this respect to be
furnished.)
09 Date of Registration under Goods & Service
Tax Act. (Self-Attested Goods and Service
Tax Registration Certificate to be attached.)
10 Annual Income of the Firm for last 3 Financial F.Y. Income (Rs. In
Years i.e. from 2015-16 to 2017-18. (Self- Lakh)
Attested copies of Audited Profit & Loss
Accounts and Balance Sheets to be attached.
Provisional Profit & Loss Accounts and
Balance Sheets will not be considered.)
11 Number of years of Internal Audit conducted With details of orders of
by the firm for IIM, Calcutta by the firm the Institute
12 Any other details the Firm would like to
furnish (Example: Awards & Accreditations)
Note: (i) Information may be furnished in separate sheet (s)
wherever necessary.
(ii) In case of documents, they should be self-attested
photocopies.
Date:
Place:
Authorized Signatory
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ANNEXURE 2
FINANCIAL PROPOSAL (To be furnished in Cover "B")
Name and Address of the Bidder:
Price Details:
Sl. Particulars Rate per Annum
No (Rs.)
(Excluding GST)
01 Audit Fees for the scope of work as per
NIT
Total
Total Price Excluding Tax: Rs................. (in words....................................)
only. GST will be paid at the applicable rate
Note: If there is a discrepancy between words and figures, the amount
in words shall prevail.
Date:
Place:
Authorized Signatory
(Signature and seal of the authorized signatory)
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ANNEXURE 3
Standard Format for Evaluation of Technical Proposal
Sl. Criteria Max. Marks Remarks
No Marks Obtained
01 No. of years of Registration with the 10
Institute of Chartered/Cost Accountants of
India:
Between 10 to 12 years: 5 marks
Above 12 years, up to 15 years: 7 marks
Above 15 years: 10 marks
02 No. of FCA/ FCMA Partners: 15
a) Between 3 to 5 nos.: 10 marks
b) Between 6 to 10 nos.: 12 marks
c) Above 10 nos.: 15 marks
03 Years of Experience in conducting Internal 30
Audit of Central or State Autonomous Bodies
or PSUs with annual income exceeding
Rs.20 Crores:
a) Between 3 to 5 years: 15 marks
b) Above 5 years, up to 10 years: 20 marks
c) Above 10 years: 30 marks
04 Experience in Internal Audit of Central or 30
State Autonomous Educational Bodies:
a) Between 2 to 3 nos.: 15 marks
b) Above 3 nos., up to 5 nos.: 20 marks
c) Above 5 nos.: 30 marks
05 Annual Income (last three Financial Years 15
i.e.2015-16 to 2017-18:
a) Between Rs.150.00 Lakh to Rs.200 Lakh:
10 marks
b) Above Rs.200.00 Lakh, up to Rs.250
Lakh: 12 marks
c) Above Rs.250.00 Lakh:15 marks
Total 100
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