HNL/EMCC/19/3486/T-2471 26/03/2019
NOTICE INVITING TENDER
Sealed and superscribed (Tender No & Name of work) ITEM RATE tenders are invited for
executing the following work in accordance with the terms and conditions specified in the
tender documents.
Name of Work EMD `
APPOINTMENT OF INTERNAL AUDITOR. 3000.00
Period of Contract: THREE YEARS.
Cost of Tender Form (including GST HSN Code: 4911) in `115/-
Tender documents (non-transferable) can be obtained on payment from our Finance
Department (cash section) during working hours from 26/03/2019 to 16/04/2019 up to 11.00
Hrs. Tenders, complete in all respects, along with prescribed EMD by means of Demand
Draft drawn in favour of Hindustan Newsprint Ltd. on any of the scheduled Commercial
Bank, payable at Mevelloor/Newsprint Nagar/ Ernakulam/Kottayam, should be deposited in
the Tender Box No. 11, kept in the EMCC building of HNL, on or before 11.00Hrs on
16/04/2019. Tenders can also be sent by post addressed to HoD (EMCC) at the company
address ensuring receipt at HNL before the due date and time. The tenders will be opened on
the same day at 11.15Hrs in the presence of the attending tenderers.
In case the above scheduled date becomes a company holiday, the next working day will be
deemed as the due date. Details regarding the work can be had from the office of the
HOD (EMCC). HNL shall not be responsible for any loss in transit/non-receipt of tenders in
time.
HNL reserves its right to accept or reject any tender without assigning any reason, thereof.
For Hindustan Newsprint
Limited
HoD (EMCC)
OPEN TENDER
APPOINTMENT OF INTERNAL AUDITOR
1.0 INTRODUCTION
Hindustan Newsprint Limited is a Public Sector Enterprise engaged in manufacturing
and sale of Newsprint/Writing and Printing Paper with annual turnover of around
350 crore under Ministry of Heavy Industries and having its manufacturing facilities
and registered office at Newsprint Nagar, Kottayam.
2.0 OBJECTIVE
Hindustan Newsprint Limited (HNL) desires to appoint Internal Auditor with an
independent, objective assurance and consulting activity designed to add value and
improve organization's operations & accomplish its objectives by bringing a
systematic, disciplined approach to evaluate and to improve the effectiveness of risk
management, control, and governance processes.
3.0 PERIOD OF CONTRACT
The appointment will be made for a period of 3 (three) years
4.0 SCOPE OF WORK
The scope, functioning, periodicity and methodology for conducting the internal audit
will be decided by the Audit Committee or the Board. However, the scope of work for
the Internal Auditor will generally include the following functions:
GENERAL
(i) Ensuring that the rules and procedures prescribed by the Central Govt. with
regard to the manner and the intervals in which the internal audit shall be
conducted is fully complied with and reported to the Chief Executing Officer
(CEO) of the Company.
(ii) Assessment of accomplishment of corporate goals and objectives.
(iii) Review of operational and financial performance.
(iv) Physical verification of existence and value of assets (Excluding Inventory,
which is already outsourced).
(v) Ensure compliance of all applicable legal and statutory requirements.
(vi) Review of internal control systems in vogue and their effectiveness.
(vii) Conditions requiring special attention such as possibility of material error or
fraud or related party transactions.
(viii) The Internal Auditor will also formulate the Annual Audit Programme with
break-up for monthly and quarterly programme and get it approved by the
CEO.
(ix) Comment on Internal Control System prevalent in HNL in all its areas of
operation so as to avoid chances of fraud, forgery etc and suggestion for
improvement.
(x) Check compliance on assurances given by Head of Departments (HODs) on
Internal Audit, Statutory Audit and Government Audit observations.
(xi) Check whether Income and Expenditure have been booked in accordance
with applicable accounting standards and Company's Accounting Policies
and other applicable rules and regulations.
(xii) Compliance of various statutory provisions of Law, Acts, Accounting
Standards and Regulations applicable from time to time.
(xiii) Review whether expenditure incurred on projects are covered under Action
Plan Budgets. Where expenditures have increased, the revised action plans
have been approved by Competent Authority in this regard and availability of
Fund.
(xiv) Review on Statutory Audit observations in the Report on the Internal
Financial Control under section 143(3)(1) of the Companies Act 2013 and
the follow up of reports including compliance.
(xv) The impact of any statutory and regulatory requirement.
(xvi) Review of action taken on Statutory & Government Audit observations.
(xvii) In addition to General Areas described above, the Internal Auditor has to
conduct the Audit in the following areas also for checking and verification of
facts and figures and to report the deficiency in the various procedures/
systems.
FINANCE & ACCOUNTS
a. Review of Accounting Policies with reference to Accounting Standards.
b. Checking the charging of depreciation as per the provisions of Companies Act
& their Insurance etc. Checking of Fixed Asset Register physically for existing
assets, additions & deletions there from.
c. Cash and Bank-Payments & Advances to employees, suppliers, contractors,
& Receipts of Funds from clients & employees, Bank Reconciliation,
identification of Stale cheques and actions taken there on etc.
d. Sundry Debtors Management, Loans and Advances.
e. Adjustment of staff advance, imprest accounts, suppliers advance, sundry
creditors, and their bills etc, adjustments of Pre-paid Expenses, scrutiny of old
outstanding if any.
f. Pay & Allowances & Perquisites- payment of statutory dues, computation of
Income Tax & Tax Deduction at Source (TDS), returns
g. Settlement of Traveling Allowances bills/Dearness Allowance Bills.
h. Verification of Reimbursement of Medical Bills to Employees.
i. Checking of Administration payments such as postage, reimbursement claims
submitted against imprest account, payment of Telephone Bills, electricity
bills, use of STD/ISD etc, Payment to various agencies like, House Keeping
Services, Security Services, Car hiring agencies etc.
j. Scrutiny of GST, TDS, and Checking whether the returns have been filed in
time, taxes have been deposited in time and correct tax rates have been
applied.
k. Surprise check and physical verification of cash in hand.
l. Vouching of all types of vouchers.
m. Reporting on systems of tracking of BGs & on its status both issued to client
and received from supplier.
n. Booking of Income and Sales with corresponding expenses and purchases
including award of contracts.
o. Commenting and suggesting cost control measures.
ADMINISTRATION
i. Checking of personal files, recruitment of personnel, fixation of their pay,
attendance record, regularization of attendance, leave records etc.
ii. Verification of Purchase of Stores, Spare parts, Raw materials, Chemicals,
Coal, other materials, Utilities etc. & also corresponding booking under
various warehouses. Receipt, Issue on disposal of such items, disposal of
waste etc.
iii. Commenting on the record maintenance at every stage (indenting, purchase,
utilization, balance and disposal).
AWARD OF CONTRACTS
I. Review of Tender evaluation and award of procurement and other work to
Suppliers/Parties/Consultants. Checking of comparative Statement through
which award of work made, checking of terms and conditions etc. in the work
order & empanelment of vendors.
II. Review of Purchase Orders/ Work Orders/Service Orders and to comment on
the terms of payment, which may be prejudicial to the interest of Company.
III. Review of post contract management of the work/purchase orders issued with
attention to contract clauses/ conditions have been adhered to or not,
progress/ completion of the work and company's interest has been served or
not.
IV. Liquidated Damages (LD)/ Penalty wherever applicable has been imposed, if
not, reasons are adequate to justify exemption. Considering the defaults, if LD
or penalty is adequate to cover company's interest.
V. Review of project files maintained in the Company.
VI. Checking of project expenditures in accordance with agreements/MoU.
5.0 TIME SCHEDULE FOR SUBMISSION OF REPORTS
For Q1 & Q2: (From 1st April -30th September) : Within 31st December
For-Q3: (From 1st October to 31st December) : Within 31st January
For Q4: (From 1st January to 31st March): Within 30th April
The list provided above is inclusive and not exhaustive, more areas may be included
either by the Audit Committee or the Board in their Internal Audit Programme.
6.0 ELIGIBILITY CRITERIA FOR PRE-QUALIFICATION OF INTERNAL AUDITOR
(i) Firms of Chartered Accountants/ Cost Accountants or LLPs with at least 10
years of experience in the field of in Internal Audit, Project Evaluation, Risk
Management etc in corporate environment.
(ii) The Firm should possess past experience in executing Internal Audit function
in at least 3 CPSEs/ PSUs.
(iii) The firm must have at least Three Active Qualified partners who are
Professionals within the requirements and meaning under section 138 of
Indian Companies Act 2013 read with Rule 13 of Companies (Accounts)
Rules, 2014.
(iv) Documentary proof shall be furnished in support of the requirements
aforementioned in the PQ criteria. This information should include the Internal
Audit work done by the firm with details of active partners with their
qualifications and experiences. Certificates from the clients shall be furnished
as documentary proof in support of the cited information, if specifically asked
for by HNL. HNL may contact any of the listed clients for verifying the
documents provided by the firm. For establishing financial credentials
authenticated balance sheets and profit & loss statement for the preceding 3
years shall be furnished.
7.0 SUBMISSION OF BIDS
PART-A
Pre-qualification bid
a) The following documents are required to be submitted along with the Bid.
i. Copy of the Complete Tender Document duly signed on all pages by
Authorized signatory with seal
ii. Details of active partners with their qualifications and experiences.
iii. Details of past experience of the firm during last 10 years and experience in
CPSEs/ PSUs for executing assignments of similar nature.
iv. The contact persons in the customer organizations along with their contact
Particulars may be provided.
v. Copy of partnership deed/ registration/ incorporation certificate of the Firm.
vi. List of branches/ offices.
vii. Copy of Income Tax Return for the FY-2017-18 (AY 2018-19)
viii. Copy of Annual Accounts for last 3 years
ix. Copy of PAN card and GST Registration number of the Firm.
b) All costs and expenses associated with submission of Bid shall be borne by the
applicants submitting the Tender and HNL shall have no liability in any manner
in this regard or if it decides to terminate the process of tender for any reason
whatsoever.
PART B PRICE BID
a) Price Bid i.e. Bill of Quantity (BoQ) attached to the enquiry shall be submitted
in a separate sealed cover after filling all relevant information such as name of
the bidder, lump sum fee per quarter of Audit that is inclusive of Travelling,
Boarding, Lodging and all other expenses but excluding taxes for conducting
the assignments are to be quoted.
b) The priced BoQ shall be submitted strictly in the format attached with the
enquiry, failing which the offer is liable to be rejected.
c) Prices shall be quoted only in the prescribed BoQ and those indicated
elsewhere, if any, shall not be considered.
SUBMISSION OF BIDS
a) Both Bids shall be submitted in a sealed cover, super-scribing the envelope
with tender No.2471 and "Tender for Appointment of Internal Auditor" so
as to reach the undersigned within time allowed.
b) Bids received after due date and time will not be entertained under any
circumstances.
c) The Company reserves the right to issue Request for Proposal to such of
those consulting firms it deems eligible and qualified.
d) The quoted rate shall be firm for the entire period of contract.
e) Period of contract is for three years.
Bidder: HoD (EMCC)
Hindustan Newsprint Limited
(Subsidiary of Hindustan Paper Corporation Ltd.)
NEWSPRINT NAGAR 686616
DIST. KOTTAYAM, KERALA.
Part B - Price Bid
REFERENCE: APPOINTMENT OF INTERNAL AUDITOR
HNL/EMCC/19/3486/T.No.2471
FORMAT FOR SUBMISSION OF PRICE BID FOR APPOINTMENT OF INTERNAL AUDITOR
Lump Sum fee (Rupees)
Description
(In figures and words)
Lump sum Fee for
each quarter
Add: GST (if
applicable)
Total
SIGNATURE______________________
Seal of the Firm
NAME____________________________
DESIGNATION_____________________
Date:________________ ADDRESS________________________
Note:
1. Price comparison will be made based on the quarterly fee quoted
above along with GST applicable.
2. Above fees is in Indian Rupees and inclusive of all i.e. TA, DA,
Lodging, Boarding, incidental expenses etc.
Remarks:
1.Quoted total amount should be inclusive of all taxes and GST.
2.If the unit rate and amount is quoted by the bidder in figure
only, then the figure shown in the 'amount' column or amount
arrived at by multiplying the quantity and unit rate whichever is
lower will be considered against each item.
3.Tender submitted in contravention of the above conditions will be
summarily rejected.
All payments are to be made through NEFT/RTGS only. Bidders may inform
the following bank account details
1.Name of the Bank(RTGS enabled) :
and branch with address
2.Bank Account No. :
3.RTGS(IFSC) code of the Bank :
4.PAN NO.:
5.GST Registration No.:
6.email id:
Signature :
COMPETENT AUTHORITY
Name & Address of the contractor :
(Office seal)
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