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

1. Online tenders, in two-bid system for Appointment of a CA/CMA firm for conducting internal audit of IIM SHILLONG at Umsawli for a period of 2 years which may be extended up to 2 more years subject to satisfactory performance and half-yearly review of work is being invited by Director IIM Shillong, from interested Chartered Accountant firms as per mentioned requirements and related terms and conditions.

2. Bidders are required to Quote per year amount in Financial bid.

3. Bidders /Tenderers would be required to register on the Central Public Procurement Portal at https://eprocure.gov.in/eprocure/app using a valid Digital Signature Certificate (DSC) and valid email address to be able to participate in the bidding process. On registration with the Portal they will be provided with a user id and password by the system through which they can submit their bids online.

4. Digital Signature Certificate (DSC) may be obtained from any authorized agencies registered with the Certifying Authority (CA), through National Informatics Center (NIC) in India.

5. Bidders /Tenderers can download the bid document from Central Public Procurement Portal website at https://eprocure.gov.in/eprocure/app Bidders /Tenderers are required to submit the bid online by scanning and uploading all the relevant documents through https://eprocure.gov.in/eprocure/app.

Eligibility Criteria:

The interested Bidders shall have to comply with the following criteria to participate in the tendering process-

1. The firm must have either its registered office or branch office in Shillong for at least 5 years. (Self-Attested copy of Registration Certificate issued by Institute of Chartered Accountants of India/ The Institute of Cost Accountants of India to be furnished.)

2. The firm must be registered with the Institute of Chartered Accountants of India/ The Institute of Cost Accountants of India for not less than 5 years as on the last date of submission of this tender. (Self-Attested copy of Registration Certificate issued by Institute to be furnished.)

3. The firm must be empaneled with Comptroller & Auditor General of India. (Self-Attested copy of latest Comptroller & Auditor General of India Empanelment Letter to be furnished.)

4. The firm must be having minimum one Fellow partners/proprietor as on the last date of submission of this tender. (Self-Attested copy of latest Constitution Certificate from Institute to be furnished.)

5. The firm must be having a minimum three years of experience (as on 31st March, 2021) in conducing Internal Audit of Central or State Autonomous Bodies/PSUs (Self-Attested copies of Appointment Letters/ Agreements/Work Orders issued by such Autonomous Bodies/PSUs along with extract of Audited Financial Statements in support of income or expenditures to be furnished.) Preference will be given to the Firms having experience in conducting Internal Audit for Central or State Autonomous Educational Institutions.

6. The firm must have conducted Internal Audit of at least one Central or State Autonomous Bodies/PSU during last three Financial Years i.e. 2018-19, 2019-20 &2020-21. (Self-Attested copies of Appointment Letters/ Agreements/ Work Orders issued by such Central/ State Autonomous Bodies along with proof of claim to be furnished.

7. The firm must be registered under Goods & Service Tax Act. (Self- Attested GST Registration Certificate to be furnished.)

8. The firm must be having minimum Average Annual Income of Rs.20 Lakh during the last 3 Financial Years i.e.2018-19, 2019-20, 2020-21. (Self-Attested copies of Audited Profit & Loss Accounts and Balance Sheets to be attached. A self-declaration may be attached for FY 2020-21)

9. Under Section 25 (1) of the IIM, Act, 2017, The appointment of Internal Auditor are subject to change after four years.

10. The internal auditor appointed under sub-section (1) of Section 25 of the IIM Act, 2017 or any person employed by him shall not have any direct or indirect interest, whether pecuniary or otherwise, in any matter concerning or related to the administration or functions of the Institute.

General Terms and Conditions

1. Amendment of Tender Document

Before the deadline for submission of tender, the Tender Document may be modified by IIM Shillong by issue of addendum /corrigendum.

Addendum/corrigendum, if any, will be Published in the Institutes Website and in www.eprocure.gov.in and shall become a part of the tender document. All Tenderers are advised to see the Institute’s Website for addendum/ corrigendum to the tender document

2. Period of Contract

The initial contract period will be for two (2) financial year i.e. FY 2022-23 & FY 2023-24 and extendable by another 2 (two) Financial Years on the same term and conditions at the discretion of the Institute and mutual agreement.

3. Payment and Price Validity:

• The Firm shall be paid on quarterly basis an amount equal to 1/4th of annual audit fees (or proportionate, if applicable) quoted by the Firm, as agreed by IIMS on submission of quarterly audit reports.
• The price as quoted by the Firm (in price bid) shall remain unchanged during the contract period.
• Goods & Service Tax, if any, shall be paid at the applicable rate.

4. Minimum Professional Fee:

The minimum Profession fee shall be Rs 100,000/- (Rs One Lakhs Thousand Only) per annum for Transaction/ Process Audit, all inclusive & GST extra as applicable.

5. Work not to be Let Out

Sub-contracting in part or full of the assignment awarded to the successful Bidder is not permitted.

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