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Sub.: Appointment of Chartered Accountants for the purpose of Branch Audit for Financial Year 2012-13.

Sir,

Housing and Urban Development Corporation Limited (HUDCO), a premier techno financing institution under the Ministry of Housing and Urban Poverty Alleviation, Govt. of India is engaged in providing long term loan for financing of Housing and Urban Infrastructure Projects (including for Commercial Development).

We are currently looking for a Firm of CA’s for the purpose of Audit of Accounts of Regional Office, Jaipur at an estimated fee of Rs, 72000 yearly.

The selection of Chartered Accountant Firm would be made in two fold process. All the firms are required to submit the technical bid which must clearly mentioned:-

1) Date of establishment of Firm.

2) No. of partners, paid CA and other staff must be clearly indicated.

3) Registered Office of Firm.

4) Experience in handling the work of PSU’s.

5) Local office of Firm.

The financial bid must mention expected monthly fees for certification of trial balance and compliance of KYC/ PML guidelines and expected quarterly fees for certification of accounts of PDS, HUDCO Niwas and KYC/ PML verification certificate.

The broad scope and selection procedure for the aforesaid work is enclosed herewith for details kindly visit us at www.hudco.org/tender notification. In case your firm is interested to be considered for empanelment, the bid can be submitted latest by 1600 hours on 16.05.2012. The envelope containing technical bid and financial bid must be superscribed as “Expression of interest for appointment of Chartered Accountant”. The Bids shall be opened on same day at 1630 hours and your representative may remain present, if desired.

HUDCO reserves the right to take any decision in this regard without intimating the reasons.

 

SELECTION PROCEDURE/ GENERAL TERMS & CONDITIONS:

The appointment of CA firm shall be done in two phases:-

1. Firm shall be short listed on the basis of Technical Bid and financial bids of short listed firms only would be opened.

2. The services would be provided to Jaipur Regional Office, Housing & Urban Development Corporation Ltd. (HUDCO), HUDCO Bhawan, Behind RHB Office, Jyoti Nagar, Jaipur as well as any other location! office falling within the jurisdiction of HUDCO, Jaipur Regional Office.

3. Quotation can be sent by post or deposited in tender box available at Reception in HUDCO Office. However, HUDCO will not be responsible for any postal delay.

4. Quotation should be sent in sealed envelope containing both the bids in separate envelope clearly indicating technical & financial bid. The envelope super scribing on top “Expression of Interest for Appointment of Chartered Accountant” and which must display clearly our reference number, closing date and time to be mentioned on the envelope with name of your agency, telephone number, mobile no and full address including e-Mail address. This should detail out the firm’s detailed profile including the firm’s name, address, date of establishment, detailed profile of partners and brief details of paid CA’s associates! support staff, clientele (PSUs, Banks, other companies) experience in handling work of PSUs.

5. The Eligibility Criteria required for consideration for appointment are as under:-

• The date of establishment should be at least 5 years old.

• Minimum 3 No. of partners who should be qualified CAs.

• The firm should have Office at Jaipur.

• Minimum 5 years experience in handling work of PSUs.

Detailed profile of partners and brief details of paid CAs and firms clientele (particularly PSU clientele) may be provided in Technical Bid.

6. The CA firm shall be required to depute one person (CA or support staff on a fortnightly basis to assist the Regional Office in accounting! taxation and other related activities on a continual basis and as and when required by the Regional Office.

7. Financial Bid only from those firms would be opened, who fulfill the HUDCO’s criteria and have adequate experience! staff strength and reputation in handling audit work (including statutory audit and Tax audit of its clients especially Public Sector Undertakings)

8. Whether any partner/ associate of the CA firm has any relationship with any employee/ director/ statutory auditor of HUDCO. The CA firm should submit an undertaking to that effect.

9. The period of validity of EOI for acceptance should be for Financial Year. HUDCO shall not entertain requests for escalation in cost! price on account of any reasons whatsoever.

10. Any modification in offer after the opening will not be considered.

11. Bidder, before submitting quotations, should clearly understand HUDCO’s requirement and, in case, any information! clarification is required, he! she may visit HUDCO Regional Office during the working days (Monday to Friday between 9.30 am to 6.00 pm). It may be noted that no clarification! information after closure of the last date of receipt of quotation, would be entertained.

12. EOI received late, will not be considered. HUDCO will not be responsible for any postal delay.

13. Quotation will be opened on 16.05.20 12 at HUDCO Office (at the address given in point no. 2) at 1600 hours.

14. HUDCO reserves the right to accept or reject any or all quotations without assigning any reason.

15. The Monthly! Quarterly payments shall be made @ 80% of the due fees and balance 20% shall be released after audit of annual accounts by Statutory Auditors.

16. The appointed firm shall be responsible for settlement of all disputes! cases! queries raised by IT! ST authorities with HUDCO, JRO for the period they are appointed as Branch Auditors.

ANNEXURE-I

Trial Balance

The Scope of work is as under:-

a) Review of books of accounts and vouchers in regard to appropriateness of supporting documentary evidence and correctness of heads of accounts;

b) Certification of monthly trial balance accompanied by Audit Report;

c) Appropriateness of deduction of tax at source from salary as well as from payments in compliance of the provisions of the Income Tax Act. Verify timely payment of TDS amount to appropriate authorities. Review the correctness of the TDS returns before these are filed with the appropriate authorities. Verify from Income Tax site that the tax payment has been properly accounted for with Income Tax authorities and the proper credit is available to HUDCO.

d) Certify the statement showing the service tax paid by RO on input services & service tax collected on output services and their adjustment. Also certifying its booking under appropriate GL A!c. Review of correctness of the Service Tax Return.

e) Review of Head Office accounts with reference to remittances received from Head Office and disbursements made at Regional Offices;

f) Review of reconciliation of Bank Accounts;

g) Authenticity of salary vouchers in regard to appropriateness of heads of accounts;

h) Reconciliation of staff advances and all other advance accounts;

i) Auditor should certify in the Audit report on monthly basis that the audit observations! remarks have been rectified! corrected for in the accounts and necessary accounting entries and payments to Income Tax! Service Tax authorities have been made in time.

j) Issue of tax audit report;

k) Certification of Half Yearly! Annual Information required by Head Office on Half yearly! Yearly basis as per guidelines made available by Head Office.

l) Certify physical verification report vis-à-vis fixed assets as per HUDCO’s Asset Register and point out discrepancies, if any.

m) Verification of compliance of KYC and PML guidelines issued by NHB from time to time in respect of applications for Project Loans received at RO and furnishing the certificate as prescribed by Principal officer! ED (IA), on monthly basis.

 ANNEXURE-II

HUDCO NIWAS

(For the purpose of payment of Bulk Loan will be treated as one case only) The scope of work is as under:

1. Checking and Review of Maintenance of Accounts books.

2. Certifying Bank reconciliation.

3. Certifying Monthly, Quarterly, Half-yearly and Annual Statements.

4. Certifying whether necessary provisions regarding Interest de-recognition and principal has been made, as per NHB norms, in default cases.

5. Certifying that necessary action as per HUDCO Niwas manual/ circulars has been taken including filing of cases U/s 138 of the Negotiable Instrument Act, filing of civil criminal cases etc.

6. Compliance of Service Tax Act.

7. Certification of security in case of loan and balloon payment cases, unused stamp papers etc.

8. Adherence of Hudco Niwas guidelines for finalization of accounts in line with closing circular.

9. CA should verify that, 1% interest subsidy is extended to the eligible borrowers as per NHB Guidelines and IOM circulated by Head Office.

10. CA should also verify that the Interest Subsidy for Housing the Urban Poor (ISHUP) guidelines along with Hudco Niwas Guidelines are followed in Loans extended by Hudco Niwas in it’s role of Primary Lending Institution.

11. Verification of compliance of KYC and PML guidelines issued by NHB from time to time in respect of applications for HUDCO Niwas Loans received at RO and furnishing the certificate as prescribed by Principal Officer/ ED (IA), on monthly basis.

 ANNEXURE-III

HUDCO Public Deposit Schemes

The terms of reference for PDS consists of 21 account heads and the responsibility of the CA firm would be to certify all the accounting heads. The scope of work in addition to certification and confirmation may include the following:

1) Checking of account books.

2) Certifying bank reconciliation on monthly basis.

3) Certifying periodic statements as per the requirement of Audit! NHB.

4) Certifying all the accounting of audit requirements pertaining to individual deposit! Corporate deposit! any other category of PDS.

5) Certifying outstanding under the PDS with confirmation to opening balances, deposits during the year, redemption made during the year and closing balance outstanding Scheme-wise, Period-wise and Maturity-wise.

6) Certifying the compliances under NHB made from time to time like periodical NHB return, KYC etc. CA firm should also provide a certificate regarding compliance of NHB norms prescribed under NHB Directions 2010 on monthly basis.

7) Certifying the PDS accounting heads such as interest on PDS, IABN, brokerage payable! brokerage paid, unclaimed PDS! unclaimed interest on PDS, TDS payable, PDS receipt control interest under various schemes, LA PDS! interest on LA PDS! interest accrued on LA PDS, prior period brokerage, prior period interest expenses, any other deferred expenses, stale cheques, any other accounting head added to the PDS accounting during the financial year.

8. Certifying the Cash Flow Statement on quarterly basis.

9. Certifying the interest and brokerage provision at the end of every quarter.

10. Certifying the consolidated Depositor Holder Register (as per NHB Norms) pertaining to Total Deposits outstanding under Hudco Public Deposit Scheme as on 31st March 2013.

11. The certification of PDS related accounting needs due to decentralization of PDS Accounting entries w.e.f. 01.04.2012

12. Verification of compliance of KYC and PML guidelines issued by NHB from time to time in respect of deposits received at RO under HUDCO’s PDS and furnishing the certificate as prescribed by Principal Officer! ED (IA), on monthly basis.

Complete details of the selected Tender 

Tender ID:

JRO0512100865

Title:

APPOINTMENT OF CA FOR THE YEAR 2012-2013 FOR THE PURPOSE OF BRANCH AUDIT.

Publication Date on Portal:

02 MAY 2012

First Announcement Date/Time:

02 MAY 2012 12:00PM

Last Date/Time for Submission:

16 MAY 2012 4:00PM

Document Fee:

0

EMD :

0

Estimated Tender Value:

72000

EMD Bid Opening Date:

 

Technical Bid Opening Date/Time:

16 MAY 2012 4:30PM

Financial Bid Opening Date/Time:

16 MAY 2012 4:30PM

Contact Detail(s):

NARESH NAKRA, REGIONAL CHIEF

Contact Number:

2740863

Email:

jro@hudco.org

Deposit Address:

HUDCO, HUDCO BHAWAN, VIDYUT MARG, JYOTI NAGAR, JAIPUR. 302005

Opening Address:

HUDCO, HUDCO BHAWAN, VIDYUT MARG, JYOTI NAGAR, JAIPUR. 302005

Work Description:

APPOINTMENT OF CA FOR THE YEAR 2012-2013 FOR THE PURPOSE OF BRANCH AUDIT.

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