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NABARD Consultancy Services Private Limited (NABCONS)
Wholly owned subsidiary of NABARD
An ISO 9001:2015 Company
1. Objective:
To conduct risk-based Internal Audit for the Company and to provide guidance on maintenance & finalization of Accounts, internal control systems and all statutory & legal compliances.
2. Period of contract :
The audit will cover the period from 1st July 2019 to 30th June 2020, which may be extended for a further period of one year based on satisfactory performance.
3. Scope of Audit:
NABARD Consultancy Services (Nabcons) is a wholly owned subsidiary promoted by National Bank for Agriculture and Rural Development (NABARD) and is engaged in providing consultancy in all spheres of agriculture, rural development and alied areas. The Turnover of the Company is around Rs. 60 Crore and size of Balance sheet is Rs.115 crore. The Company has adopted a new ERP software from 01 December 2018 in place of Tally software used upto 31 March 2019. The scope of audit will include the following:
a. Ledger Scrutiny/ Verification of accounting records, cash books, checking all debit/ credit entries of all bank accounts with relevant vouchers, P & L account.
b. Checking of all voucher entries for all income, expenditure, salary & related payments etc.
c. Checking of all calculations related to salary, gratuity and PF calculations & related deductions
d. Concurrent checking of all Service Tax / Goods and Services Tax / TDS deductions/ payments by the due date of every month.
e. Verification of all compliances in relation to Goods and Services Tax, TDS, Advance Tax, Income Tax , Professional tax, State wise and total Input Claims, Filing of all Tax Returns/Goods and Services Tax Returns, TDS Returns, etc. and payment of taxes.
f. Verification of compliance with all relevant Labour Laws.
g. Concurrent checking of all payments to Project Implementing Agencies in respect of Pass Through assignment from Ministry of Rural Development, GOI.
h. Assisting in the finalization of accounts at the end of the year, especially in booking of income and provision for the expenditure.
i. Monitoring of all periodical statements and intermediary accounts.
j. Verification of compliance in relation to Company Law regarding filing of balance sheet, annual return and other returns.
k. To undertake Performance / process audit of assignments/projects and Verticals every month in consultation with NABCONS.
l. Scrutiny of Sundry Debtors, Sundry Creditors, Fixed Deposits/investments, Bank Guarantees and EMDs.
m. Checking of Compliance on applicable Accounting Standards (AS) & Indian Accounting Standards (IND-AS)
n. Coordination with ERP Software team to ensure all statutory compliances are configured in the ERP based on government policies from time to time.
o. Coordination with Statutory Auditors and other Auditors, and facilitation of smooth conduct of Statutory Audit, CAG Audit, Service Tax/ Goods and Services Tax Audit, Tax Audit etc.
4. Reporting and Timeline :
Atleast two Accountants, including one CA with 10 Years experience, shall be placed at NABCONS on a regular basis. These personnel will not be changed. In case of change due to exceptional circumstances, the prior consent of NABCONS shall be obtained. The Internal Auditor will submit a detailed monthly report along with executive summary covering all the items indicated in the scope of audit at S.no. (3) above, including for backlog period, if any. Further the concerned FCA would have a monthly meeting with NABCONS.
5. Eligibility & Selection
i. The Firm shall have atleast 7 Partners of which 4 shall be FCAs. The list of partners shall be provided.
ii. The Chartered Accountants’ Firm shall have minimum of 10 years of experience in Internal Audit and Statutory Audit. The list of firms audited shall be provided along with the year of audit in each case. Further, the number of Statutory/Internal Audits carried out by the Firm for PSUs/ Government Companies/Private Companies in preceding five years (2014-15 to 2018-19) may be indicated.
iii. The average Gross Turnover of the Firm for the previous three financial years should be minimum Rs.50 lakhs. Documentary proof in support thereof shall be provided.
6. Submission of Proposal
Interested eligible Chartered Accountant Firms shall submit their application in a sealed envelope superscribed “QUOTATION FOR THE POST OF INTERNAL AUDITOR” in the format enclosed (for Technical Parameters) along with all supporting documents, including copy of Registration Certificate with ICAI. The financial quotation shall be submitted in a separate sealed envelope superscribed “FINANCIAL QUOTATION FOR THE POST OF INTERNAL AUDITOR” and should be kept in the main cover envelope. The application may be delivered by hand or sent by Speed Post to:
The Managing Director,
NABARD Consultancy Services Private Limited
Corporate Office,
7th Floor, NABARD Tower
24, Rajendra Place
New Delhi -110125
7. Last date for receiving applications
The last date for receiving applications will be 27 June 2019 upto 5.00 p.m. Any incomplete application will be rejected. Applications received after the last date/time will be rejected. Shortlisted Firms may be required to make a presentation in order to assess the suitability for the assignment, which will be decided at the sole discretion of the Company.
8. Opening of Bids
The Technical Bids will be opened on 27th June 2019 (Thursday) at 5:30 PM at Corporate Office of NABARD Consultancy Services Private Limited, New Delhi -110125. Marks system will be adopted for the technical parameters.
The opening of financial quotations will be communicated only to technically qualified bidders separately.
9. NABCONS reserves the right to cancel the engagement of Internal Auditor for the captioned post without assigning any reasons.
For any clarification in the matter, mail may be sent to “[email protected].”
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FORMAT OF THE APPLICATION
(Technical details and Financial Quotation to be submitted in separate sealed covers)
(Last date for applications: 27 June 2019 upto 5.00 p.m.)
I. TECHNICAL PARAMETERS
1. Name of the Firm :
2. Address of the Head Office of the Firm with email id for correspondence and Telephone number and name of contact person :
………………………………………………………………………………………………………..
………………………………………………………………………………………………………..
3. Email ID of Firm for receiving mails from NABCONS :
4. ICAI Registration :
a. Registration Number of the firm :
b. Date of Registration :
c. Registration certificate enclosed : Yes/No
5. Total Numbers of Partners with the firm : (list to be attached)
a. No. of partners with FCA :
(Documentary proof to be attached)
6. Annual and Average Gross Turnover of the Firm in previous three financial years : (Documentary proof to be attached)
7. Experience of the Firm in Internal Audit & Statutory Audit in last 10 years: (list of Firms and year of audit in each case to be provided)
8. The number of Statutory/Internal Audits carried out by the Firm for PSUs/Government Companies/Private Companies in preceding five years (2014-15 to 2018-19) may be indicated as follows:
| S.No. | Parameters | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 | Total |
| 1. | No. of Statutory Audits conducted | ||||||
| 1a. | Of which, no. of PSU/Govt. Company Audits conducted |
||||||
| 1b. | Of which, no. of Private Company Audits conducted | ||||||
| 2. | No. of Internal Audits | ||||||
| 2.a | Of which, no. of PSU/Govt. Company Audits conducted | ||||||
| 2 b. | Of which, no. of Private Company |
9. Number of Statutory and Internal Audits conducted in Firms/Companies having ERP software ((Documentary proof to be attached) indicating the name of the ERP software.
10. Number of Firms/Companies for whom GST audit 2017-18 and 2018-19 is being done/is being undertaken (Documentary proof to be attached)
II. FINANCIAL QUOTATION : (in a separate sealed cover)
(in Rupees per month, exclusive of GST @ 18 %)
