Empanelment of CA Firm for Internal Audit of Hindustan Shipyard Limited

Empanelment of CA Firm for Internal Audit of Hindustan Shipyard Limited

Instructions to Audit Firms

1. Format of Application shall be filled in and completed in all respects. Incomplete applications will be rejected. 2. As the applications are evaluated on the basis of the Selection Criteria as per Annexure-A (scoring and selection criteria for empanelment of Audit Firms), attaching any other information/ documents other than as required may be avoided. 3. All the documents submitted should be dated and self-attested by a Partner with his/ her name and under the seal of the firm. 4. Applications must be submitted in two sealed envelopes i.e. Part-I(Application form with all enclosures as per EOI) and Part-II (Price Bid) superscribing on the envelope the EOI Notice No. HSL/IA/2021-22/EOI/01 dtd 15.02.2022, last date & time of submission of EOI 25.02.2022 (upto 11:00 hrs) , Date of opening of EOI 25.02.2022 at 15:00 hrs and the words “Application for Empanelment of Firms for conducting Internal Audit for Financial years 2022-23 and 2023- 24,2024-25”. The name and address of the firm must also be indicated on the body of the envelope which shall be submitted or deposited in the Tender Box kept in the Commercial Department, Hindustan shipyard Limited, Gandhi gram, Visakhapatnam - 530 005 (INDIA). The EOI may also be forwarded by way of Registered Post/speed Post/ courier to HSL and addressed to General Manager (Commercial), Hindustan Shipyard Limit, Gandhigram Visakhapatnam, AP - 530 005 (INDIA), which on receipt at HSL will be deposited in the tender box. 5. Any application received after the due date & time, due to any reason whatsoever, will not be considered. HSL does not take any responsibility for the loss of application in-transit. Application sent through Fax or email will not be considered.

Scope of Work for Internal Auditors

Auditor while ensuring the complete coverage of the scope of Internal Audit should prioritize/provide relative emphasis between different areas based on the professional assessment of the risk profile of different areas and exercise professional judgment in case of audit requiring test check. Internal Auditors shall apply their expertise in bringing out the deviations /irregularities and/Suggestions. Based upon HSL requirements & working, following are the broad Scope of Work for Internal Auditors. HSL may add/delete/modify the scope of any of these areas of work.

A. Transaction Audit B. Physical verification of fixed assets C. Physical verification of Inventory

Eligibility Criteria

1. No. of years in practice since establishment of the Partnership Firm/ Proprietary Firm /Limited Liability Partnership. 2. No. of CA/CMA qualified Partners/Employee of the Firm who has been with the applicant Firm for a minimum period of one year as on the date of application. 3. Number of branch offices (excluding head office) 4. No. of Qualified Assistants (Chartered/Cost Accountants) employed with the Firm 5. No. of CA/CMA Inter qualified Assistants employed with the Firm.

General Terms and Conditions

a. Empanelment of firms will be as per the ranking based on total marks secured by the CA/CMA firms as per selection criteria. Minimum score of 50 and above only will be considered for Empanelment and Part-II (Price Bid) of such firms will only be opened. Audit firm quoting the lowest fee will be assigned the work. However, firm’s shall quote a minimum fees of Rs.4,50,000/- and in case fee is quoted by a firm is lower than Rs.4,50,000/-, a minimum fee of Rs.4,50,000/-will be considered for evaluation. b. In the event of a tie, firms scoring higher marks in selection criteria at Sl. 4 to 9 of Annexure-A (scoring and selection criteria for empanelment of Audit Firms) of this EOI will be preferred. Further, the empanelment will be at the discretion of HSL. c. This EOI is only for the purpose of empanelment of Firms and does not guarantee/assure allotment of Internal Audit/any other assignments. d. Empaneled firms will be intimated about the decision on empanelment and the said firms are to convey their consent for being empaneled as per the terms and conditions set out in this EOI. e. The Company reserves its right to accept or reject any application(s) without assigning any reasons thereof. The decision of the Company for empanelment of Firms shall be final and binding upon the firms participating in the process of empanelment. To Read More Details Download PDF Given Below: