Empanelment of CA firm for Internal Audit of The Cotton Corporation of India Ltd.
Sushmita Goswami | Jan 12, 2022 |
Empanelment of CA firm for Internal Audit of The Cotton Corporation of India Ltd.
The Cotton Corporation of India Ltd. is a Government of India undertaking under administrative control of Ministry of Textiles. As per mandate given by the Govt. of India, the Corporation is a nodal agency to undertake Minimum Support Price (MSP) operations without any quantitative limit as and when the prices of raw cotton touch to the support price announced by the Govt. of India. In case the prices of raw cotton are above support price, the Corporation undertakes Commercial Purchase (CP) operations at its own risk and cost.
The various functions, roles and duties at branch level are broadly defined as under
a) Maintenance of proper records & registers
b) Purchases:
c) Sales
d) Insurance
During the procurement operations, internal auditor makes frequent visits to the centres/godowns to check and verify the operations of the centres and submit their visit report immediately to the branch under copy to Head Office (HO). Looking to the seasonal nature of operations the internal audit mainly concentrates on field operations during procurement operations. They carry out frequent visits to various ginning and pressing factories, APMCs, Godowns etc. and submit the tour reports to the branch head for necessary action under copy to Head Office. The Head Office has issued the guidelines from time to time. However, the scope of the audit during centres visit is broadly defined as under:-
i. In respect of branches i.e Sriganganagar, Bhatinda, Bhilwara, Sirsa, Hubli, Rayagada and Kalamboli the visits should be as under:
ii. In respect of branches i.e. Akola, Aurangabad, Adilabad, Guntur, Mahabubnagar, Warangal, Ahmedabad, Rajkot and Indore the visits should be as under:
iii. A certificate of visits to branch, centres, Factories/Godown duly certified by branch head is required to be attached with the monthly Internal Audit Report.
The above functions, role and duties are illustrative and not exhaustive.
1. The Cotton Corporation of India Limited shall not be responsible for any expense incurred by bidders in connection with the preparation and delivery of their bids, site visit, participating in the discussion and other expenses incurred during the bidding process.
2. Evaluation of technical Bid-I shall be as per eligibility criteria and financial Bid of the tenderer shall be opened only if it qualifies the technical Bid-I .
3. Earnest Money deposit amounting to Rs. 5,000/- (Rupees five thousand only) in the form of Crossed Demand Draft/Pay Order drawn on any scheduled banks in favor of The Cotton Corporation of India ltd., payable at Aurangabad must accompany the Technical Bid-I.
4. The EMD of Rs 5,000/- of the successful Bidder shall be released after successful completion of work allotted.
5. Minimum monthly Audit Fee:
a. In respect of branches i.e. Sriganganagar, Bhatinda, Bhilwara, Sirsa, Hubli, Rayagada and Kalamboli the minimum audit fee will be Rs. 10,000/- (excluding applicable Taxes).
b. In respect of branches i.e Akola, Aurangabad, Adilabad, Guntur, Mahabubnagar, Warangal, Ahmedabad, Rajkot and Indore the minimum audit fee will be Rs. 15,000/-(excluding applicable Taxes).
c. The fee should be quoted is inclusive of TA/DA/Boarding/Lodging etc.
1. The registered Chartered Accountant firm must have atleast 10 years experience in Auditing of Accounts. (The copy of registration certificate of the firm)
2. The bidder firm must have experience of conducting Audit (Statutory Audit and Internal Audit) of at least
two central Govt./State Govt./ PSU during last 5 years. (Self attested copy of appointment/engagement letter issued by the department must be attached)
3. The bidder entity/ any partner/ Director of the entity should not have been convicted in any disciplinary proceedings/criminal case by regulatory authority/court in connection with professional work. Bidder should not be in black list of any PSU or Govt. Department. Bidder to submit an undertaking in this respect as per relevant form. (Self undertaking to be attached).
4. The bidder should have office/branch office in the region of our Branch Office i.e Aurangabad city.
(Complete address of the branch office along with the details of contact person and his phone number should be submitted on letter head of the Firm)
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