E-Tender For Chartered Accountant Firm as Internal Auditor of Cuttack Development Authority
Cuttack Development Authority invites proposals from intending Chartered Accountant Firms for “Appointment of Internal Auditor, Tax Auditor and Income Tax Retainer of CDA for the Financial Year 2018-19 (Assessment Year 2019-20)”. The last date of submission of Bid is 16.08.2019 upto 3.00 PM. The details TENDER/BID DOCUMENTS can be obtained fom CDA’s website: (PORTAL) www.cdacuttack.nic.in.
An Internal Auditor cannot be the Tax Auditor of the same Organisation as stipulated by ICAI, New Delhi.
SCOPE OF AUDIT
Compilation of Accounts :
1. The Internal Auditor has to compile the Accounts of Cuttack Development Authority for the Financial Year 2018-19.
2. Prepare necessary Annual Financial Statement i.e. Trial Balance, Income Statement, Balance Sheet and other Schedules and Annexure to be part of the Internal Audit Report, Including Bank Reconciliation Statement.
3. The Chartered Accountants has to prepare the Annual Financial Statements of Cuttack Development Authority, Cuttack after due compliance of Accounting Standards prescribed by ICAI.
4. Notes on accounts are mandatory and part of the Annual Financial Statements.
5. The Chartered Accountants needs to suggest and reflect the best ways of reporting Annual Statements of Accounts as per the best Corporate practice and conventions.
6. The Annual Statements of Accounts to be duly signed by the Chartered Accountants.
Internal Audit :
1. The responsibilities of the internal auditors shall include reporting on the adequacy of internal controls, the accuracy and propriety of transactions, the extent to which assets are accounted for and safeguarded, and the level of compliance with financial norms and procedures adopted in CDA.
2. Submission of reports on the revenue leakage and recommendation to prevent such leakages and other constructive measure for efficient maintenance of Books of Accounts.
3. Deliveries : Internal Audit Report duly signed by Chartered Accountants with Income Statement, Balance Sheet, Schedules and Annexure.
4. Industries best practice and reporting to be reflected in the Internal Audit Report of CDA.
Management Consultant :
1. Advise the Authority on the capacity as a Management Consultant.
2. Consultant in the matter relating to Service Tax under relevant Finance Act.
3. Consultant in filling E-TDS Quarterly Returns for Salary and Non Salary TDS.
Filling Income Tax Return :
The Chartered Accountant will file Income Tax Returns of Cuttack Development Authority by 30th September 2019 positively.
Criteria for Selection of Chartered Accountants :
1. The firm should have the head quarter in State of Odisha having its office/branches in Cuttack/Bhubaneswar.
2. The firm must have been empanelled with Comptroller and Auditor General of India.
3. The firm must not have been debarred from ICAI or RBI or any other statutory autonomous body for any misconduct.
4. The firms should have at least 3 FCAs (details to be mentioned in Form T-3).
5. The firm should be auditors or should have carried out internal audit for at least 2 State Govt./ Semi Govt/PSU/ Development Authority. (details to be mentioned in Form T-4).
6. The firm must be at least 10 years old.
7. The average turnover of the CA Firm must be above Rs. 30.00 lakh (average of FY 2015-16, 2016-17 & 2017-18).
8. The firm must undertake to deploy at least 1 FCA and 2 staff of the aforesaid assignments.
9. The Authority reserves the right to cancel/reject any or all tender without assigning any reason thereof.
Selection of Chartered Accountants :-
Interested firms shall submit their bids directly to the Finance & Accounts
Member, CDA in two parts- Technical bids (T-1, T-2, T-3, T-4, T-5) and Financial bids (F-1), both the bids should be submitted in two separate envelopes marked Technical Bid and Financial Bid and properly sealed.
Financial bids of only technically qualified firms shall be opened by the
Finance & Accounts Member and audit to be awarded to the lowest financial bidder.
If the lowest financial bidder does not agree to undertake the audit work
within the prescribed audit fee or the Finance and Accounts Member deems it unfit for any reason (reasons to be recorded in writing), the job may be awarded to the next lowest financial bidder if the firm agrees to undertake the job. However, the work may only be awarded to a technically qualified bidder.
Termination / Cancellation of Appointment :
If the selected firm has not sent the Technical Bid/ Financial Bid duly signed by them within the stipulated time, their bid is liable to be rejected.
If any of the information/ documents furnished by the auditor is found to be
incorrect, the offer will automatically stand cancelled without entertaining any further correspondence.
The appointment is for the Financial Year 2018-19 and the same may be renewed on a yearly basis subject to satisfactory performance. The maximum period of contract shall be restricted to 2 Financial Years. However, the Cuttack Development Authority reserves the right to terminate the contract at any point of time for whatsoever reasons.
Manner of Submission of Bids :
1. The Bids to be submitted in two separate covers superscribing Technical Bids for Appointment of Chartered Accountants Firm as Internal Auditor of Cuttack Development Authority, Cuttack for the Financial Year 2018-19.
2. And Financial Bid for Appointment of Chartered Accountants Firm as Internal Auditor of Cuttack Development Authority, Cuttack for the Financial Year 2018-19.
3. The Information submitted must be written in English, Overwriting and Correction should be avoided.
4. The Bids should reach the Finance & Accounts Member, Cuttack Development Authority, Arunodaya Bhawan, Link Road, Cuttack-753012 latest by 16th August 2019 upto 3.00 PM, through Speed Post /Registered Post only. The same will be opened on 17th August 2019 at 11.30 AM in the Chamber of Finance & Accounts Member, CDA.
5. Any information about the detail scope of work, nature of accounts and procedure followed in CDA, the Chartered Accountants Firms may contact the Deputy Finance Manager, CDA Cell No: 9938014452 on any working days.