EXPRESSION OF INTEREST (EOI)
For Empanelment of Internal Auditors for Gujarat Power Corporation Limited
GPCL has been playing the role of developers and catalyst in the energy sector in Gujarat
State. It is engaged in the business of generation of electricity and development of solar
park in Gujarat State.
GPCL hereby invites `EXPRESSION OF INTEREST' (EOI) for empanelment of Internal
Auditor from reputed Chartered Accountants / Cost Accountant firms for empanelment
with GPCL for conducting Internal Audit work of GPCL for FY 2019-20, 2020-21 and 2021-
22 (3 years).
GPCL would like to invite application for empanelment of 10 firms of
Chartered Accountants / Cost Accountants who secures the highest marks for
conducting Internal Audit work of GPCL for FY 2019-20, 2020-21 and 2021-22 (3
years).
Out of 10 empanelled firms of Chartered Accounts / Cost Accountants, GPCL may at its
discretion call proposal from certain number of selected firm or all the firms for Internal
Audit work of GPCL.
In case, the fees structure received from the selected empanelled firm or all the firms as
per empanelment list is abnormally high, management reserves its right to call
proposal from balance firms.
Format of application, address of the Registered Office of the Company,
Empanelment Criteria, General terms and conditions and evaluation method are
available as Annexure 1, 2, 3, 4 & 5 on the website www.gpcl.gujarat.gov.in.
The Chartered Accountants / Cost Accountant firms who fulfils all the empanelment
criterion as mentioned in Annexure - 3 shown at website and interested for
empanelment of Internal Auditor for GPCL for FY 2019-20, 2020-21 and 2021-22 (3
years) may submit their application in the prescribed format (by downloading from
website) along with relevant documents & self assessment of marks (Annexure 5)
as per empanelment criterion under a `sealed cover' by RPAD or BY SPEED POST
ONLY and addressed to the Chief Financial Officer, Gujarat Power Corporation Limited,
Block no 8, 6th floor, Udhyog Bhavan, Sector -11, Gandhinagar - 382011, Gujarat on or
before 30.08.2019 (upto 4:.00 pm) (No Courier Service and Hand Delivery will be
allowed). The sealed envelope containing the application in the prescribed format along
with all the annexures as required shall be super subscribed with "Application for
empanelment of internal auditors of GPCL." If the envelope is not properly sealed and
marked, GPCL will assume no responsibility for the misplacement or premature opening
of the application.
DELAY AND LATE PROPOSAL:
No proposal shall be accepted / opened in any case which are received after due date
and time of the Receipt of Proposal irrespective of delay due to Postal Service or any
other reasons and GPCL shall not assume any responsibility for Late Receipt of
Proposal for Empanelment of Internal Auditors of GPCL. Any correspondence
in this matter will not be entertained.
INDEX
Annexure 1 : Name & Address of Registered Office of Gujarat Power
Corporation Limited.
Annexure 2 : General Terms & Conditions.
Annexure 3 : Empanelment Criterion.
Annexure 4 : Format of Application.
Annexure 5 : Evaluation method & self evaluation Form.
`
Annexure 1
Name & Address of Registered Office of GPCL.
Gujarat Power Corporation Limited
Block No.8, Sixth Floor,
Udhyog Bhavan, Sector - 11,
Gandhinagar - 382011. Gujarat
Website:www.gpcl.gujarat.gov.in
Annexure-2
General Terms & Conditions for submission of proposal
1. Timely delivery of the application is the responsibility of CA / ICWA firm. Telex / Fax
/ e-mail offers will not be accepted.
2. Evaluation that whether CA / ICWA firm possesses qualification criteria would be
done on the basis of the information / data/ documentary evidences provided by
the CA / ICWA Firms. The EOI must be with index and page number.
3. GPCL may at its discretion, seek from any or all CA / ICWA Firm
clarification(s) on application submitted including technical information,
document and materials for empanelment.
4. GPCL reserves the right to accept or reject any application in part or full at
any stage or may cancel the process entirely at its sole discretion without assigning
any reason whatsoever. The decision of the Audit Committee/ Board of GPCL shall be
final as regard to the criteria to finalize the firm out of the applications so received and
selection of auditors.
5. GPCL may issue clarifications/amendments in the form of addendum /
corrigendum during the empanelment period. CA / ICWA Firms shall take such
addendum and corrigendum into consideration while submitting their
application. CA / ICWA Firms are requested to visit GPCL's website from time to time
for any corrigendum/ addendum.
6. Any application received by GPCL after the scheduled closing date and time will not
be accepted.
7. Matter relating to any dispute or difference arising out of present EOI, and
subsequent contract based on the EOI shall be subject to exclusive
jurisdiction of courts at Ahmedabad only.
8. The proposal must be submitted in English language. All documents,
correspondences or any other written material in connection with this work shall be in
English language.
9. GPCL will examine the proposal/applications to determine whether they are complete,
whether any computational errors have been made, whether the documents
have been properly signed, and whether the EOI are generally in order.
10. The tenure of appointment shall be at the sole discretion of the Company. The tenure
may be renewed every year for a maximum of three Years at the sole discretion of the
Company. However, it is expressly stated here that the said tenure is not to be
construed as assured and the Company reserves the right not to reappointment at its
sole discretion without assigning any reason therefore.
11. Firm(s) who have served in the capacity of Internal Auditor(s) of the Company in the
past can apply only if 1 (one) year have elapsed from the last year of assignment held
in the Company.
12. Overwriting/correction/erase and/or use of white ink should be avoided in the
proposal. However, if any overwriting/correction/erase is inevitable, the same should
be authenticated with the signature & seal of authorised person of applicant firm.
13. Documentary evidence(s) in respect of all the information by the applicant firm(s)
must be furnished along with the proposal.
14. All the pages of the proposal document shall have to be signed by the applicant
firm(s) with the firm's seal and documents submitted along-with the proposal shall also
have to be authenticated by the authorised signatory of the applicant firm(s) with the
firm's seal.
15. Disqualifications: The Firm would be disqualified if it suffers from any of the
following situations:
a. The Firm or any partner thereof has been cautioned or any action has been taken
against the Firm or any partner by ICAI / ICWAI.
b. Any court case or arbitration relating to disciplinary case pending against
the firm or any of its partner.
c. Any action / disqualification by Government Company / Govt. Body / Govt.
Authority relating to financial transactions only.
d. Any action / disqualification by Government Co. / Govt. Body / Govt. Authority/
Govt. Agency by terminating the appointment of the firm applying for this EOI
for any reason what so ever.
16. Compliances / Declarations /Certificates by firm(s) on appointment:
The CA/ICWA Firm(s) shall have to comply with and furnish declarations and
certificates as required under Statutory/Company rules, upon appointment as
internal auditor(s), as under:
a. The CA/ICWA Firm shall not sub-contract the internal audit work,
b. The internal audit team will work in strict confidence and will ensure that all the
data and any other information in respect of the operation of the location / work
centre /Company is dealt with in strict confidence and secrecy. A certificate
towards maintaining confidentiality shall have to be provided by the Internal
Auditor(s) on receipt of appointment letter from the Company or before
commencement of internal audit.
c. No partner of the CA/ICWA firm should be related to either Managing Director
or any Whole Time Directors or Part Time Directors of the Company within the
meaning of section 6 of the Companies Act, 1956,
d. Neither the audit firm nor its partner(s) or associates should have any interest in
the business of the Company,
17. Firms that secure 60 points and above as per criteria given in Annexure -5 shall be
considered for empanelment. Firms will be given points and ranked in the descending
order. Top 10 firms (maximum) securing 60 points and above including winners of the
ties shall be considered for empanelment.
18. This EOI is only for the purpose of empanelment of Firms and does not
guarantee/assure allotment of Internal Audit/any other assignments.
19. Only empanelled firms will be intimated about the decision on empanelment.
20. GPCL reserves its right to accept or reject any application(s) without assigning any
reason thereof. The decision of GPCL for empanelment of Firms shall be final and
binding upon the firms participating in the process of empanelment.
21. The Internal Auditor will ensure that the information obtained in respect of the
working/operation of the company is maintained in strict confidence and secrecy at all
times, including after the completion of the assignment. All such information shall
remain exclusive property of GPCL at all the times. A certificates towards maintaining
confidentiality is to be provided by the Audit Firm at the time of acceptance of Audit
assignment.
22. Assignment of work in subsequent years may be made subject to satisfactory
performance.
23. If progress/performance of the audit team is not found satisfactory, GPCL's
management reserves the right to terminate the appointment of the Firm at any point
of time.
24. The Audit Firm will be debarred from getting, in future, Internal Audit assignments in
GPCL in the following cases:
a. If the firm obtains the appointment on the basis of misrepresentation of
information / misstatement of facts at the time of submission of application /
documents along with EOI.
b. The Audit Firm is found to have sub-contracted the work.
c. If the Firm does not take up audit in terms of the appointment letter.
d. If the Firm does not submit the Audit Report, complete in all respects in terms of
the appointment.
e. If the Firm refuses to take up the assignment as mentioned in the letter of
appointment for any reason whatsoever.
f. If the Firm fails to maintain/honor confidentiality and secrecy of the
.....Company's information.
g. If the Firm fails to comply with any of condition laid down in clause 16 above.
25. In case of any dispute on any issue arising before commencement of/during
execution of the contract, an amicable solution may be arrived at with discussion
and reconciliation. However, in case of any dispute remaining unresolved, the
decision of the Managing Director, GPCL will be final and binding on both the
parties.
26. Proposals without the required documentary evidence(s) shall be ignored for
evaluation. Application Form - Annexure -4 should be notarized on Rs.100/- Stamp
Paper. If Application Form - Annexure -4 is not notarized on Rs.100/- Stamp Paper
then same shall not be considered and application will be rejected.
27. The proposal should be submitted strictly as per the terms & conditions laid down in
the document.
28. All the pages of the proposal document shall have to be signed by the applicant
firm(s) with the firm's seal and documents submitted along-with the proposal shall
also have to be authenticated by the authorised signatory of the applicant firm(s) with
the firm's seal. Proposal submitted in any other form shall not be considered.
Annexure-3
EMPANELMENT CRITERIA
Details
on pg
Sr. Eligibility Criteria for Empanelment of Internal Auditors Minimum Criteria no.
No
The Audit firm should be registered with the Institute of Registered with ICAI
1 Chartered Accountants of India / Institute of Cost Accountants /ICWAI
of India (ICAI)
The Audit firm should be Partnership / Limited Liability Partnership /LLP
2 Partnership ( incorporated under the Limited Liability
Partnership Act,2008)
3 The firm should preferably be empanelled with C & AG -
4 The firm should also have a full fledged working office in Full fledged office in
Ahmedabad Ahmedabad
5 The firm should have been in existence for at least Five years Existence : 5 Years
in Ahmedabad
The Audit firm should have at least Three Partners or at least at least 3 Partners or
6 Two partners and One paid Chartered Accountant/ Cost at least 2 partners
Accountant at Office in Ahmedabad and 1 paid Chartered
Accountant/Cost
Accountant
7 At least One of the Partners/paid CA/ICWA should have 1 Partner/ paid
minimum 10 years of experience in practice. CA/ICWA with 10
Years of experience
The firm must have carried out at least two Statutory Audits / 2 Statutory Audits /
8 Internal Audits of Public Sector during the preceding financial Internal Audits of
year i.e. 2017-18. Experience of Internal Audit/Statutory Audit Public Sector during
only will be considered for evaluation. All the audits (other than the preceding
Internal Audit/Statutory Audit) like Stock Audit, Revenue Audit, financial year
VAT/Tax Audit, Concurrent Audit etc. will not considered. i.e.2017-8
Experience as Internal Auditor/Statutory Auditor with banks,
Financial Institutions and Insurance Companies will not be
considered.
Minimum Five years of Experience in Statutory Audit /Internal Overall : 5 years &
9 Power Sector : 3
Audit including one year as Statutory Auditor/Internal Auditor of
any IND AS compliant Company (out of which atleast 3 years years
of experience should be in Power Sector) IND AS compliant: 1
year
10 The Average Turnover during the preceding 3 Financial Years Average Turnover:
should not be less than Rs.25 lacs p.a. Rs.25 Lacs p.a.
11 Disqualifications:
The Firm would be disqualified if it suffers from any of the
following situations:
The Firm or any partner therof has been cautioned or any
a action has been taken against the Firm or any partner by ICAI / YES/NO
ICWAI
b Any court case or arbitration relating to disciplinary case YES/NO
pending against the firm or any of its partner
c Any action / disqualification by Government Co. / Govt. Body / YES/NO
Govt. Authority relating to financial transactions only
d. Any action / disqualification by Government Co. / Govt. Body /
Govt. Authority/ Govt. Agency terminating the appointment of YES/NO
the firm applying for this EOI for any reason what so ever.
Additional conditions w.r.t. appointment of Internal Auditor:
Appointment Shall be reviewed by GPCL for every financial year and shall be re-
a appointed only after approval of Audit Committee and Board of Directors approval.
Auditor shall not be appointed for more than 3 consecutive years at a stretch shall be at
b the discretion of GPCL. After expiry of 3 consecutive years of appointment, there shall
be a cooling period of 1 years in which same auditor shall not be appointed.
If the firm is not fully fulfilling the minimum Criteria as laid down in Annexure - 3 of EOI
c then their application of EOI will not be considered.
Annexure-4
Expression of Interest for Empanelment of Internal Auditor in GPCL
APPLICATION FORM
(to be Notarized on Rs.100/- Stamp Paper)
To,
The Chief Financial Officer,
Gujarat Power Corporation Limited,
Block 8, Sixth Floor,
Udhyog Bhavan, Sector - 11,
Gandhinagar - 382011.- Gujarat.
Self certified Det
supporting ails
Sr. PARTICULARS documents on.
No. required to be pg.
submitted no.
along with this Form
Name of the Firm & Registration Firm Registration
1. No. Certificate under ICAI
/ICWAI
Addresses of the Firm: Address: Firm Registration
2. Certificate under ICAI
/ICWAI
Head Office Phone No:
Email:
3. Mobile of Office In-
charge
Along with his name:
4. Firm Income Tax PAN No. Attach copy of PAN card
5. Firm GST No. Attach copy of
Registration
Registration No. with ICAI Company Registration
6. Certificate issued by the
ICAI
Empanelment No. with C&AG Attach proof of latest
7. empanelment with C&AG
for the year under Audit.
No. of Years of Firm Existence & Attach copy of
8. Date of establishment of Firm Partnership Deed
Details of Partners along with As per enclosed format Attested copy of
9. Educational Qualification & - Certificate of ICAI as on
Experience (A) & (B) 01.01.2018 /01.01.2019
Audit Experience of the Firm As per enclosed format Copy of appointment
during last five Financial Years: - Letters
10. No. of audit assignments of (C) & (D)
Internal /Statutory Audit of
Corporate/ PSUs entities (except
Bank Branch /Financial Institution/
Insurance Co. Audit)
Turnover of the Firm during last As per enclosed format Attach P & L and
11. three years -(E) Balance Sheet of last
three financial years
Annual Average Turnover with As per enclosed format
Breakup of Fee towards Audit, -(F)
12. Income Tax matters and others
(A) Details of Full Time Partners of the Firm (as on 01.01.2019)
Sr. Name Member Whether Date of Date of Educati Area of Relevant
No of ship No. FCA/ joining becoming onal key Experience
Partner ACA the firm FCA Qualific expertise
(full ations
time)
[Documentary proof, as previously indicated, to be submitted]
(B) Details of Qualified & Semi-qualified Staff (including Articled Clerks etc) (as
on 01.01.2019)
Sr. Name of staff Length of Educational Area of key Relevant
No Qualifications expertise Experience
Association
with the Firm
[Documentary proof, as previously indicated, to be submitted]
(C) No. of Internal/ Statutory Audits of PSU Companies:
Turn Remarks
No. of Name of PSUs Type over
Sr Financial Statutory/ of of
No Year Internal Power Other Audit
Audit Sector than PSU
(Statutory /
of PSUs Power ('In
Internal)
done in Sector Crore
past years s)
1 2017-18
2 2016-17
3 2015-16
4 2014-15
5 2013-14
6 2012-13
7 2011-12
8 2010-11
9 2009-10
10 2008-09
11 2007-08
Please indicate in remarks column whether IND AS Provisions were applicable in
case of PSU Audited by you. [Documentary proof, as previously indicated, to be
submitted giving reference of the same in the index with page no on which the same is
placed]. Experience as Internal Auditor/Statutory Auditor with banks, Financial Institutions
and Insurance Companies will not be considered.
(D) No. of Internal/ Statutory Audits of Power Sector Companies (Other than
PSU Companies):
No. of Name of the
Statuto Company (Other Type Turnov
Sr Financial ry/ than PSUs) of er of
Internal Remarks
No Year Audit compa
Audit
done in Power Other (Statut ny ('in
past Sector Than ory / Crores
years Power Interna )
(Other Sector l
than
PSUs)
1 2017-18
2 2016-17
3 2015-16
4 2014-15
5 2013-14
6 2012-13
7 2011-12
8 2010-11
9 2009-10
10 2008-09
11 2007-08
Please indicate in remarks column whether IND AS Provisions were applicable in
case of the company ( other than PSU) Audited by you. [Documentary proof, as
previously indicated, to be submitted giving reference of the same in the index with page
no on which the same is placed]. Experience as Internal Auditor/Statutory Auditor with
banks, Financial Institutions and Insurance Companies will not be considered.
(E) The total Turnover of CA / ICWA Firm in India is as under:
Financial Year Amount (' in lakhs)
2017-18
2016-17
2015-16
Total
Average of above
(F) Annual Average Turnover with Breakup of Fee:
(`In Lakh)
Financial Audit Fee Income Tax Others (Rs.) Total (Rs.)
Year (Rs.) matter (Rs.)
2017-18
2016-17
2015-16
Total
Average of
Above
(G) Also, provide a brief description of the background of your firm for
empanelment. The brief description should include both functional and
sectoral experiences of the applicants. It should not exceed more than 2-
pages.
I/We _ on behalf of
M/s ( Name of Firm) having Registered
Office at _(Address) bearing Registration No. (Firm
Reg. No.) do hereby solemnly state on oath that all the details
mentioned herein above are true and correct. I / We have read & understood
the terms and conditions of Expression of Interest for empanelment of Internal
Auditor in GPCL as put up on the website of GPCL alongwith Annexures 1 to
5 and furnish the aforementioned details in the prescribed Application
Form along with Evaluation Method & Self Evaluation done in Annexure-5.
We hereby confirm the acceptance of all provisions and terms & conditions of
EOI without any deviation.
Signature along with Seal of CA/ICWA Firm
(Duly authorized to sign the application
on behalf of the CA / ICWA Firms)
Date :- Name :- ________________________
Place Designation :- ___________________
Membership No. _______________
Encl : As Above
Annexure - 5
Evaluation of Empanelment with marks (Full marks:100) shall be done as per
the following parameters & self evaluation by Firms:
GPCL will evaluate and assign the marks to the Chartered Accountant / Cost
Accountant Firms for empanelment for carrying out Internal Audit Work of GPCL for
FY 2019-20, 2020-21 and 2021-22 (maximum 3 years) as per the following
methodology / criterion. The CA / ICWAI firms should carry out self evaluation
and submit the same:
A. Atleast 5 years of Firm's Existence in Ahmedabad from date of establishment/
incorporation of Firm:
Years of Existence from the date of incorporation to 01.01.2019 of CA / ICWA
Firm in Ahmedabad:
15 Marks
*
No. of Years Marks Self evaluation of marks
by CA / ICWAI Firm
5 5
6 to 10 10
Above 10 15 (Maximum)
* 1 (one) per year of existence (fraction of the year to be ignored)
B. Audit Firm should have atleast 3 Partners or 2 Partners and 1 paid
CA/ICWA at Ahmedabad:
No. of Partners in Ahmedabad out of which atleast 2 should be Partners as on
01.01.2019 and atleast 1 paid full time CA / ICWA employees:
15 Marks
No. of Marks Self evaluation of marks
Partners by CA / ICWAI Firm
2 5
3 to 10 10
Above 10 15 (Max)
5 Marks
No. of Paid Marks Self evaluation of marks
CA / ICWA by CA / ICWAI Firm
1 1
2 to 10 3
Above 10 5 (Max)
C. Atleast One Partner/ paid CA / ICWA should have minimum 10 years of
experience in Practice:
5 Marks
No. of years Self evaluation of marks
Marks
of Experience by CA / ICWAI Firm
10 3
Above 10 5 (Max)
D. The Firm must have carried out atleast 2 Statutory Audits / Internal Audits
of Public Sector during the preceding Financial Year:
Experience of Statutory / Internal Audit of Public Sector companies (other than
Banks, F Is & Insurance Co.s) during the preceding Financial Year i.e. 2017-18.
15 Marks
No. of Statutory/Internal Audits of PSUs Marks Self evaluation of marks
(except Banks & FIs) during FY 2017-18 by CA / ICWAI Firm
2 5
3 to 6 8
7 to 10 10
Above 10 15
E. Minimum Five years of experience in Statutory Audit / Internal Audit
including one year as Statutory Auditor / Internal Auditor of any IND AS
compliant Company. (out of which atleast 3 years experience should be in
Power Sector):
i. Experience of Audit of Power Sector Companies:
10 Marks
No. of Years Marks Self evaluation of marks
by CA / ICWAI Firm
3 2
4 to 5 3
6 to 10 5
Above 10 10
ii. Experience of Internal Audit / Statutory Audits (other than Power
Sector) :
10 Marks
No. of Years Marks Self evaluation of marks
by CA / ICWAI Firm
5 3
6 to 10 5
Above 10 10
F. Average Turnover of the Firm during the preceding 3 Financial Years:
Average Turnover of CA / ICWA Firm of preceding three Financial Years i.e.
2015-16, 2016-17 & 2017-18:
20 Marks
Average Turnover Marks Self evaluation of marks
( `in Lakhs) by CA / ICWAI Firm
25 5
25 to 50 10
50 to 75 15
Above 75 20
G. Empanelment with C&AG:
5 Marks
Empanelled with C&AG Marks Self evaluation of marks
by CA / ICWAI Firm
Yes 5
No 0
Total Marks Obtain : ______/100
Signature alongwith Seal of CA/ICWA Firm
Date: Name:__ __
Place: Designation:_
Membership No.:-
Note: All supporting documents required to be submitted along with application should be self
certified by the Authorized Signatory of the firm and should be dully sealed.
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