Empanelment for CA Firms for Internal Audit of Jharkhand Urja Sancharan Nigam Ltd

Request for proposal for Appointment of Internal Auditor for Financial Year’s 2020-2021, 2021-22 & 2022-23

1. Introduction

Jharkhand Urja Sancharan Nigam Limited (JUSNL), a wholly owned subsidiary of Jharkhand Urja Vikas Nigam Limited (JUVNL), hereinafter referred to as Company is engaged in Transmission of power in the state of Jharkhand. JUSNLhas its Head Office (HO) at Ranchi (Jharkhand) and functions with the field offices layered into jurisdictional hierarchy of Five Transmission Zone, Eight Transmission Circle’s, Transmission Division’s & one Central Store (CS).

At Headquarters (Hqrs.), there are various departments such as Finance, HR, IT, Civil, C&RA, C&M, SLDC Planning, Inspection and Projects. Each department is headed by General Manager and the project departments are supported by respective finance wings. The Finance function at the Hqrs. is sub-divided into various functional departments/sections e.g. Accounts and Internal Audit under the overall control of respective General Manager’s (F&A).

Each Zone is headed by General Manager (GM) and the Circle office is under the overall control and supervision of DGM. The Divisions are headed by Sr. Manager. The Drawing and Disbursing Officer (DDO) at each Zone and Circle is Manager (F&A).

The HO along with the Zones & Circles are the accounting units. The transactions of the Divisions are being consolidated at the respective Circle offices. Accounts are being maintained in TALLY accounting software along with manual books of accounts. Zone and Circle submit their accounts to the HO for consolidation of accounts for JUSNL as a whole.

Further in accordance with the provisions of the Electricity Act, Jharkhand State Electricity Regulatory Commission (JSERC) has notified the JSERC (Terms and Conditions for Determination of Distribution Tariff) Regulations 2015 for determination of wheeling charges and other supply tariff and Aggregate Revenue Requirement (ARR) for transmission business. These Regulations prescribe for submission of Accounting Statement as a part of the filings with JSERC. JSERC has also notified the JSERC (Power Regulatory Accounting) Regulations, 2016 on preparation of accounting manual, policies and procedures for maintenance of Regulatory Accounts, audit and submission of annual audited regulatory accounts to JSERC.

JUSNL, in order to comply the requirements of Companies Act, 2013, invites request for Proposal (RFP), in sealed envelopes, from experienced, reputed professional firms for conducting Internal Audit of JUSNL for the Financial Year 2020-2021, 2021-22 & 2022-23.

2. Important Dates

a) The schedule of issue, submission and opening of RFP documents are given hereunder

b) If any “Holiday‟ falls on any of the scheduled date, then the next working day (between mentioned working hours) shall be considered as the scheduled date.

3. Qualifying Criteria (Eligibility conditions)

4. Evaluation Criteria for Selection of Internal Auditor (Selection Criteria)

A. Technical Evaluation:

Evaluation Criteria for selecting the auditor are mentioned below:

B. Financial Evaluation:

The formula for determining the financial Score (Fp) is as below:

Fp= 100 x Fm/F

Where, Fm: Price of L-1 bidder &

F: Price of the concerned bidder

The final evaluation shall be based on Quality Cost Based System (QCBS) where the weights given to the Technical (T) is 70 % and to the Financial Proposal (F) is 30%

Final Score= 0.7xTp + 0.3xFp

5. Submission of RFP

a) The RFP is to be submitted online in www.jharkhandtenders.gov.in in two parts viz Part-1: Technical Bid marked as “RFP for Internal Audit Appointment – PART-1″&Part-2: Professional Fees cum Price Bid marked as “RFP for Internal Audit Appointment -PART-2” separately within the due date prescribed in this RFP document.

The bidders should be careful, not to place the two separate folders of technical & financial part, in one folder for uploading. Rather two separate folders need to be uploaded, one for technical and one for financial.

b) The quoted rate in Part-2 of RFP shall be inclusive of taxes, indicated separately.

c) Prices quoted by the bidder for three years of Audit shall remain valid for six months within which the evaluation will be done. There will be no provision for escalation of the prices.

d) The quoted Professional Fees cum price Bid has to be written in figures as well as in word. In the event of any difference, lower of the two prices would be considered.

e) All the sections of price offer are to be quoted and nothing should be left blank. If any of the sections of the offer is left blank, then it will be considered as zero for evaluation.

6. Scope of Work

a) The Scope of the Internal Audit will be as per Annexure-I enclosed.

7. Tenure of Engagement

a) The tenure of engagement under the RFP shall be for three financial years of 2020-21,2021-22 & 2022-23.

8. Validity of RFP

a) The offered rate shall be valid for acceptance for a period of 6 months from the next day of opening of RFP, and shall not be withdrawn or revised on or after the opening of bids till the expiration of the validity period or any extension agreed thereof.

b) RFP offer made valid for a period less than the required time as stipulated above would liable to be rejected.

c) In exceptional circumstances, prior to expiry of the original bid validity period, the JUSNL may request the bidder for a specified extension in the period of validity. The requests and the responses shall be made in writing. The Bidder will undertake not to vary/modify the bid during the validity period or any extension agreed thereof.

To Read More Details Download PDF Given Below :