Empanelment of CA Firm for Concurrent Internal Audit of Jammu and Kashmir Forest Development Corporation Limited

Background:

The “Jammu & Kashmir Forest Development Corporation (JKFDC) Ltd” has been incorporated on 03 rd December 2020, under companies Act 2013.

Nature and Scope of Work:

To provide services related to maintenance of books of accounts and concurrent internal audit for the period from 01/04/2022 to 31/03/2024 (FY 2o22-23 & 2023- 24) at different locations listed below:

The J&K FDCL has Pay and Accounts office system for booking of expenditure incurred by various business units and disbursement of payments to payees The locations of Pay and Accounts Officers of J&K Forest Development Corporation are:

The locations of different business units/ offices of J&K Forest Development Corporation are: –

The detailed description of the services to be provided by the CA Firm to Jammu and Kashmir Forest Development Corporation is as follows:

a) Preparation of accounts at Divisional Level, CPAO/PAO level and organization level including monthly trial balances, receipts & payments accounts, with all necessary reconciliations and control of accounts and schedules thereof necessary for finalization of accounts, preparation of Profit and Loss Account and Balance Sheet by the J&K FOCL in accordance with the accounting standards.

b) Review and reconciliation of Trial Balance, All Ledgers, Realization Day Book, Bank Book and Stock Register on regular basis.

c) Preparation of Budget Register and Expenditure Control Register’

d) Making entries of both income and expenditure in the accounting software. Preparation of Payment Vouchers and related work.

e) Review a nd checking of applicability of all statutory obligations/compliances (viz GST TDS, Income Tax TDS, TCS) timely deposition and filing of requisite return by due date and guidance in taxation matters.

f) Checking of application of Employees Provident Fund as to its deduction, deposit, standing balances and filing of returns in time.

g) Checking of application of Employees State Insurance as to its application, deposits and filing of returns.

Eligibility for Participation:

Bona-fide registered firms only satisfying criteria set in clause 3.9. are eligible for participating in the tender.

Qualifying Criteria

The Bidder should fulfill the following criteria:-

a. Membership of the Institute of Chartered Accountant of India (ICAI).

b. The firm must be empaneled with C&AG, without which the application of the firm would not be considered.

c. The applicant firm is independent of the J&K FDCL

d. The applicant CA firm must be in practice for the last 15 years and must have 3 or more FCAs as full-time partners.

e. The applicant CA firm must have a total turnover of at least Rupees 50 lakh over a period of past three financial years.

f. No partner of the firm or any qualified employee of the firm has neither any business interest, nor any association with J&K Forest Development Corporation.

g. The CA firm must have its registered head office in the UT of Jammu and Kashmir, preferably having offices both in Jammu and Srinagar’

h. Experience of having provided accounting services to Government Organizations/ PSUs in the last three years.

i. No Consortium Firms whatsoever shall be entertained.

j. The firm should comply with the guidelines for e-tendering if any issued by the Institute of Chartered Accountants.

k. Undertaking to the effect that no Criminal Proceedings are pending w.r.t to the CA / chartered Accountant firm in any court of Law in India’

l. The Chartered Accountant firm should have a regular GSTIN Copy of GSTIN registration certificate to be submitted.

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