Empanelment of CA Firm for Internal Audit of Central Cottage Industries Corporation of India Limited

Introduction

1. Central Cottage Industries Corporation of India Ltd. (CCIC), a Government of India Undertaking under Ministry of Textiles, invites bid for above services from firms of Chartered Accountants / Cost Accountant Firms for the F.Y.2021-22 for its Kolkatta and Bengaluru Branch. The audit is initially for one year and can be extended up to maximum four years on same terms and conditions as agreed by both parties.

2. The Corporation is engaged in Retail sale of Handicraft and Handloom products through its Showroom at Delhi (Janpath, Jawahar Vyapar Bhawan), Stores and Accounts departments at Bharat Nagar, New Delhi and branches at Kolkatta, Bangalore, Chennai and small showrooms at Varanasi, Patna, Kevadia and Secunderabad. The operations of Sales and purchases are made in computerized system M.S.Navision with LS Retail having small value but high volume. The accounting is presently being done at Kolkata and Bengaluru branch in Tally, but will switch to Navision in due course.

3. The applicant firms meeting the eligibility criteria may apply online at www.eprocure.gov.in/eprocure/app.

4. No bid shall be entertained other than e-tender.

5. Opening of Financial Bids – The opening of financial bid shall be informed to for the information of successful bidders under Technical bid on our Website / E-Tender Portal / E-mail.

6. Award of Work – The internal Audit assignment shall be awarded to lowest financial bidder meeting the mandatory eligibility criteria at Pt.No.9.

i) The Financial bid in respect of audit of Kolkata branch and Bengaluru Branch shall be considered on L1 bidder basis in respect of each branch.

ii) In case of tie in the L1 Financial bids, the bidder Firm having the older registration date shall be considered for award of contract.

Eligible Criteria

a) The firm must be empaneled with ICWAI / ICAI (attach proof).

b) The firm must have minimum experience of TEN years in Audit as on 31.3.2021 (attach proof).

c) The firm should have their own office in the city / location for which application is submitted i.e. for Kolkata and Bengaluru.

d) The firm should have two qualified CA / ICWA as partner or two full time working qualified CA/ICWA as an employees and 4 paid assistants/audit clerks. The personnel deputed to Audit should have knowledge/experience in working in computerized environment. Preference will be given to firm having an experience in working in M.S. Naivision with LS Retail software.

e) The Firm should have experience of statutory audit / internal audit of minimum five companies in last three years ending as on 31.3.2021 , out of which there should be two PSUs / listed Company / Company having minimum turnover of Rs.50 lakhs (attach proof).

Scope of Internal Audit

Internal Auditing is an independent appraisal activity within an organization for the review of accounting financial and other operations as well as accounting financial and other operations as well as performance against targets that the organization has set for itself. It is a managerial control which functions by measuring and evolving the effectiveness of other controls. The overall objective of Internal Auditing is to assist all members of the Management in the effective discharge of their responsibilities by furnishing them with objective analysis, appraisals, recommendations and pertinent comments concerning the activities reviewed.

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