Empanelment of CA Firm for Internal Audit of Indian Institute of Management

General Terms and Conditions:

(a) The contract will be for two years starting from the date of awarding the contract. The contract shall be extendable annually on satisfactory performance and mutual consent of both the parties without increasing the annual charge/cost and with same terms and conditions of the contract. Proposed date of commencement of the Work/Contract: 01 May 2022.

(b) The Contractor shall not appoint any sub-Contractor to carry out any obligations under the contract or sub- let the contract.

(c) Any one or more the following action/commission/omission are likely to cause summary rejection of tender:

(i) If the EMD and / or Tender fee is not found in order or receipts are not attached with the Technical Bid.

(ii) Any bid received late without conclusive proof that it was delivered before the specified closing time.

(iii) Any bid received unsealed or improperly sealed

(iv) Any conditional bid or bid offering rebate

(v) Any bid in which rates have not been quoted in accordance with specified formats/details as specified in the Bid Documents

(vi) Any effort by a bidder to influence the IIM Kashipur in the bid evaluation, bid evaluation, bid comparison or contract award decision.

(d) IIM Kashipur reserves the right to negotiate with first lowest bidder to arrive at the fair and reasonable
price. The lowest bidder shall be decided by the lowest price quoted as per financial bid.

(e) The IIM Kashipur reserves the right to accept / reject / select more than one Contractor and to annul the bidding process of any or all bids at any time prior to award of contract without thereby incurring any liability to the affected bidders.

Process of Audit:

1. Auditor’s field personnel will segregate the audit observations and discuss the same with the concerned department/section head for having an in depth understanding of the issues.

2. The audit observations which did not get settled through discussions with the concerned department/section head will be issued in writing to the concerned department/section head. Replies received from the concerned department/section head will be considered by the audit personnel at a senior level and if he is satisfied, the observations will be dropped and if otherwise the same will be converted into draft audit paras.

3. The draft audit paras will be discussed by senior level personnel of the audit Firm with the department/section head as the case may be and after such discussions, if the auditors get satisfied the para will be dropped and if otherwise the para could be considered and incorporated in the Internal Audit Report.

4. The Audit Report along with the written replies received from department/section heads will be considered by the Management/Director. The Management/Director will request the auditors for an in-depth discussion on each of the issues raised in their report. The Management/Director may also discuss with the department/section heads for further clarification.

5. The corrections/review/reorientation of system/procedures, etc. which might emerge at such discussions will be recommended for implementation by Management/Director and their implementation will also be monitored. However, the auditors will have the right of not revising the Audit report at this stage.

Eligibility Criteria for the bidders

(a) The agency should have valid GST registration (documentary evidence to be submitted).

(b) The Bidders should be a Chartered Accountant Firm.

(c) Average Turn over in last 03 (three) financial years (2018-19, 2019-20 & 2020-21) shall not be less than Ten lakhs. (A self-attested copy of certificate issued by a Chartered Accountant shall be enclosed).

(d) Firm should have based in or have branch office in Uttarakhand/Uttar Pradesh/Delhi NCR.

(e) Firm should have continuous standing of at least 10 (Ten) years

(f) Minimum 10 (ten) years of experience in carrying out rendering Internal Audit/Statutory audit/Tax audit services for Government / Public Sector Undertakings / Autonomous Body and CFTI’s. (Documentary evidence, work orders/certificates, to this effect should be enclosed)

(g) The Tender Fee is mandatory to be paid along with the bid. However, Tender fee and EMD is not required to be submitted by those MSE Bidders who are registered as Micro and Small Enterprises (MSEs) as defined in MSE Procurement Policy issued by Department of Micro, Small and Medium Enterprises (MSME) or are registered with the Central Purchase organization or the concerned Ministry or Department. Exemptions, if any, must be supported with legitimate documents and they shall have to enclose valid self-attested registration certificate(s) along with the tender to this effect.

(h) There should be no criminal case pending with the police against the Proprietor/ Firm/ Partner or the Company (Contractor) and the firm should not be blacklisted by Central Government/ State Government/ PSU/any other Institutes. The declaration to such state as incorporated will be assumed for this purpose.

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