Tender For Appointment of CA Firms As Internal Auditors For HUDCO


Tender For Appointment of CA Firms As Internal Auditors For HUDCO

Housing & Urban Development Corporation Limited
(Hudco)
(A Government of India Government)
(Mumbai Regional Office)
Shreyas Chambers?
2nd Floor, 175,
Dr. D N Road, Fort, Mumbai – 400 001?

Ref. No. HUDCO/MRO/651/2019-20/

Dated : 18.07.2019

Sub :- APPOINTMENT OF CHARTERED ACCOUNTANT FIRMS AS INTERNAL AUDITORS FOR UNDERTAKING COMPREHENSIVE INTERNAL AUDIT FOR THE YEAR 2019-2020.

Housing and Urban Development Corporation Ltd. (HUDCO), a premier techno financing institution under the Ministry of Housing and Urban Affairs, Govt. of India is engaged in providing long term loans for financing of Housing and Urban Infrastructure Projects.

HUDCO, Mumbai Regional Office invites offers from eligible Chartered Accountant Firms as Internal Auditors for undertaking Comprehensive Internal Audit for the year 2019-2020.

The following conditions are applicable with regard to submission of quotation for award of work by HUDCO Regional Office Mumbai.

(I) The Scope of Work shall broadly cover the points as per enclosed Annexures as detailed below :

(1) Scope of Work for appointment of Chartered Accountant Firms as Internal Auditors as per ANNEXURE-I.

(2) Checklist of Scope of Work as per ANNEXURE-II.

(3) Eligibility Criteria for the Internal Auditor as per ANNEXURE-III.

(4) Specimen Format of the Report as per ANNEXURE-IV.

(II) ELIGIBILITY CRITERIA :

1. The Chartered Accountant Firm should have at least three years? experience in undertaking Internal Audit work of Public Sector Undertakings.

2. CA Firm should have minimum three number of partners (CAs) and minimum five number of paid assistants {qualified (CA/CMA)/semi qualified(CA/CMA-inter)}

3. CA Firm should have local office not exceeding 30 kms. from HUDCO, Mumbai Regional Office at Fort. It should also have minimum five working staff (including one partner).

4. CA Firm should have at least two years? experience in handling Tax related matters including filing of TDS in respect of Public Sector Undertakings.

5. The CA Firm is expected to undertake the review for each month?s transactions in the first week of succeeding month.

(III) SELECTION PROCEDURE :

The selection of consultant shall be based on Technical bid and Financial bid :

(1) The selection of CA firm is to be carried out by following two-bid system i.e. tenderer shall be required to submit technical and price bid in separate cover in overall sealed envelope.

(2) CA Firm to give an undertaking:

(i) That none of the partners has any relation with any employee of HUDCO and also none of them has any relationship within the meaning of Section 2(76) of the Companies Act, 2013 and also that none of them has any relationship with the Statutory Auditors (M/s. Prem Gupta & Co.) and also will ensure compliance under section 184 and 188 of the Companies Act, 2013.

(ii) Certified that we have not been appointed for carrying out certification/consultancy of such related work of the same Regional office which will have conflict of interest with the assignment as above as Internal auditors of the said Regional Office.

(3) While evaluating the technical bids, CA firms? capability to perform the audit related work should be assessed and inspection of their office may be carried so as to establish the fact that the CA firms have local office.

(4) Firms will be shortlisted on the basis of Technical Bid.

(5) Financial bids will be opened from the shortlisted firms.

(6) If more than one firm selected as L1, then preference will be given to technically sound firm.

(IV) TENURE OF THE APPOINTMENT :

The firm will be selected for the F.Y. 2019-2020. However, the appointment can be renewed on yearly basis for another two years based on satisfactory work & with approval from H.O.

(V) MAXIMUM COST OF INTERNAL AUDIT WORK :

The upper tender limit of fees of Internal Auditor (excluding GST) is as under :-

(1) For audit and verification of imprest and project loan ? Rs. 10000/- per month.

(2) For audit and verification of HUDCO Niwas vouchers.

(a) Less than 100 vouchers – Rs.5000/- per quarter.

(b) 100 – 300 vouchers – Rs.7000/- per quarter.

(c) 300 – 500 vouchers – Rs.8000/- per quarter.

(d) 500 – 1000 vouchers – Rs.11000/- per quarter.

(e) More than 1000 vouchers – Rs.13000/- per quarter.

(3) For audit and verification of PDS vouchers.

(a) Less than 500 vouchers – Rs.3500/- per quarter.

(b) 500 – 1000 vouchers – Rs.6500/- per quarter.

(c) 1000 – 2000 vouchers – Rs.13000/- per quarter.

(d) More than 2000 vouchers – Rs.17000/- per quarter.

(4) KYC and PML verification as per KYC and PML guidelines, pertaining to Projects, PDS and HUDCO Niwas ? Rs. 300/- per month.

(5) For audit and verification of sanction of project loans ? Rs. 100/- per case with a ceiling of 10000/- per annum.

(6) For audit and verification of releases of project loans ? Rs. 100/- per case with a ceiling of 10000/- per annum.

(7) For audit and verification of HUDCO Niwas sanction and release – Rs. 75/- per case with a ceiling of 10000/- per annum.

(8) For audit and verification of PDS cases – Rs. 50/- per case with a ceiling of 10000/- per annum.

(9) Incidental Matters and other Miscellaneous work ? Rs. 300/- per month.

The Fees for aforesaid assignments has to be mentioned separately in Financial bid. No out of pocket or other expenses shall be paid.

100% verification in case the number of vouchers in each category (as given in the description of work in the eligibility criteria), is less than 100 in a month and sample size of 50% in case the number is more than 200/250 per month.

The monthly/quarterly payments shall be made @80% of the due fees and balance 20% shall be released after audit of annual accounts by Statutory Auditors and issuance of Tax Audit Report.

The CA Firm is expected to undertake the review for each month?s transactions in the first week of succeeding month.

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