Ref No: RECPDCL/FIN/2016-177/2746
Dated: 24.11.2016
EOI for Appointment of Audit Firms for conducting internal audit of REC power Distribution Company Limited for the Financial Year 2016-17
(Limited to Audit Firms as per list enclosed in Annexure-“B”)
By
REC Power Distribution Company Limited
(A wholly owned subsidiary of REC, a ‘Navratna CPSE’
under the Ministry of Power, Govt of India)
Corporate office
1016-1023, Devika Tower Nehru Place,
New Delhi 110019
Telefax : 011-44128768
Description of task, qualification required, Eol submission format and procedure is available on RECPDCL website (www.recpdcl .in), REC website (www.recindia.com), Central publication portal (www.eproccure.gov.in)
-Sd-
Addl. C.E.O.
[This document is meant for the exclusive purpose of Audit against this Eol and shall not be transferred, reproduced or otherwise used for purpose other than that for which it is specifically issued]
SECTION-I EOI INFORMATION
Name of the assignment: Limited Tender for Appointment of Audit Firms for conducting internal
audit of REC Power Distribution Company Limited for the Financial Year
2016-1 7.
Important information
| Sl.No. | Event | Information to the agencies |
| 1 | Date of Release | 24.11.2016 |
| 2 | Last date of submission | 05.12.2016 up to 15:00 hours. |
| 3 | Date of Opening | 05.12.2016 at 15:30 hours. |
| 4 | Eol document | The details can be downloaded free of cost from the websites www.recpdcl.in www.recindia.com. (or) www.eprocure.gov.in |
| 5 | Address for communication | REC Power Distribution Company Limited., 1016-1 023, 10th Floor, Devika Tower, Nehru Place, New Delhi- 110019, India. Telefax: +91-11-44128768, Phone: +91-11- 44128761/58, Email- recpdcl@
rediffmail.com, recpdcl.fin@rediffmail.com. |
| 6 | Contact Person | Sh. Somya Kant,
CFO Phone:01 1-44128761; Fax:01 1-44128768 Email-fin.delhi@recpdcl.in |
SECTION-II PREFACE
REC Power Distribution Company Limited (an ISO 9001:2008 & 14001:2004 certified, a wholly owned subsidiary of REC Limited, a “Navratna” CPSE Govt. of India Enterprise under MOP, GOI) rendering expert consultancy services in power sector in general and Distribution sector in particular as per the need of power utilities across the country. REC PDCL is a leading service provider in the power sector and is providing end-to-end solutions for all the needs in Distribution sector across the country.
RECPDCL engaged in providing value added consultancy services in power sector arena covering Power Generation, Transmission & Distribution (T&D), Renewable Energy Sector and Energy Efficiency programs including Govt. of India’s power schemes for power utilities across the country and various regulatory assignments with CERC. It includes the Project Management Consultancy (PMC) of Substations along with its associated lines, Monitoring, Supervision and inspection work of Electrical Power Distribution Project of Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) works and Feeder Renovation Program (FRP), Feeder separation, HVDS program, Lender’s Engineers assignment, DPR preparation for electrical infrastructure projects viz., R-APDRP, IT related assignments in Distribution sector including web based MIS, Energy Audit, Evaluation study for HVDS/Distribution network, AT&C Loss assessment, Cost Data Book preparation, system study and MRI based billing as per the need of the power utilities, Central Electricity Regulatory Commission across the country.
RECPDCL ’s Strength:
√ A wholly owned subsidiary of Rural Electrification Corporation Limited, a Navratna CPSE.
√ PAN India presence.
√ Methodical and transparent approach in execution of works.
√ Benchmarking Quality Standard / Quality Policy for the Distribution Sectors.
√ ISO certified 9001:2008 company and ISO 14001:2004
√ Recognitions:-
− SKOTCH Merit Award
− IPE Asia Pacific HRM Congress Award.
REC Power Distribution Company Limited (RECPDCL) intends to appoint an Audit Firm for conducting internal audit of REC Power Distribution Company Limited for the Financial Year 2016-1 7. You are therefore requested to send your Proposal as per the Terms of Reference described below:
SECTION-III SCOPE OF WORK
SCOPE OF WORK:
a) The audit firm would be required to conduct the internal audit of RECPDCL in accordance with the standards on internal audit worked by I.C.A.I., REC Internal Audit Manual and guidelines / circulars of REC as amended from time to time. The firm cannot assign this assignment to any other firm.
b) Review of compliance of ICFR guidelines and certificate thereof.
PROCESS OF APPOINTMENT:
The period of appointment for conducting Internal Audit shall be initially for one year i.e. for FY 2016-17. However, considering satisfactory work, the appointment may be extended for 2 more years. The company reserves the right to extend the tenure or terminate the appointment on account of unsatisfactory performance.
TIMELINES
| Schedule | For the period | Remarks |
| 1st Half Yearly Audit | 1st April,2016 to 30th Sep,2016 | Audit Report to be submitted within 1 month from the date of work order. |
| 2nd Half Yearly Audit | 1st Oct, 2016-31st March,2017 | Should be completed by 10th April,2017 |
The internal audit of the accounts should be carried on half yearly basis without any over lapping. Half yearly reports need to be submitted to the Chief Executive Officer (CEO) and the audit program should be minimum of 10 days for each half year, covering the entire scope.
Auditor is required to visit RECPDCL office as and when required as per scope of work.
The audit should be executed by a competent team of professionals, comprising of at least 1 Partner, 1 qualified Chartered Accountant having experience of 5 years and 2 Senior Article Assistants to be deputed on full time basis to REC PDCL’s office for a minimum period of 10 days for each phase of half yearly audit.
SECTION-IV INSTRUCTIONS TO AUDIT FIRM
PRICE AND SELECTION CRITERIA
The Audit fee (all inclusive-including travel and other out of pocket expenses) has been fixed at Rs. 1,50,000/- (plus applicable taxes). However, the work shall be awarded to the professional firm scoring highest marks based on the technical parameters.” In case of tie of marks, the firm having maximum PSU’s assignments shall be considered. Further, in case of tie in no. of PSU assignments, the firm having audit assignment of PSU client with largest turnover in any of preceding 3 years will be considered for award of present audit work.
TERMS OF PAYMENT
All payments would be claimed by the Firm from RECPDCL on being due, and would be accepted for payment by Competent Authority of RECPDCL based on the satisfactory progress and quality of the work in sole discretion of RECPDCL. The payment to the Audit Firm under the contract shall be released after achieving the milestones as per the following terms:
| 50% payment | After successful submission of 1st Half Yearly Audit Report and acceptance thereof. |
| 50% payment | After successful submission of 2nd Half Yearly Audit Report and acceptance thereof. |
Annexure-A will be filled and submitted with the Technical Proposal. Without it the Proposal is considered as incomplete and will be rejected automatically.
The Audit Firm shall raise invoice after the audit as per the charges quoted after successful completion of each audit.
Penalty Provisions
Delay in completion of audit:
- A penalty of Rs. 200/- per day may be imposed on audit firm in case of any unjustified delay in successful completion of audit work at the sole discretion of CEO, REC PDCL subject to maximum 10% of amount of fee as and when due.
- REC PDCL can repudiate the contract at the risk and cost of the audit Firm.
- Liquidate damages, for delay in services can be recovered by the paying authorities of the owner, from the bill of services submitted by the audit firm.
- Notwithstanding anything stated above, the services will be deemed to have been delivered when they have been carried out in terms of the assignment.
TAXES AND DUTIES
RECPDCL shall be entitled to deduct applicable tax (if any) at source as per Indian Laws from all payments due to the Audit Firm under the contract.
As regards the Indian Income Tax, surcharges on Income Tax and any other Corporate tax, RECPDCL shall not bear any tax liability, whatsoever, irrespective of the mode of contracting. The Audit Firm shall be liable and responsible for payment of all such taxes, if attracted under the provisions of the law. In this connection, attention of Audit Firm is invited to the provisions of Indian Income Tax Act and the circulars issued by the Central Board of Direct Taxes, Government of India.
OWNER’S RIGHT TO ACCEPT/ REJECT THE PROPOSAL
RECPDCL reserves the right to accept or reject the proposal at any time prior to award of Contract, without thereby incurring any liability to the Audit Firm concerned or any obligation to inform the Audit Firm concerned of the grounds for the Owner’s action. Further, RECPDCL reserves its right to award the work order to any audit firm to whom it considers fit for the work and eligible at its own discretion and no further correspondence, whatever shall be, entertained from anyone in this regard.
Confidential
The Audit firm shall during the tenure of the contract and at any time thereafter keep all information relating to the work in full confidence and shall not, unless so authorized in writing by RECPDCL, divulge or grant access to any information about the work or its result and shall prevent anyone becoming acquainted with either through the firm or its personnel or agents also best professional diligence and ethics. The Audit Firm shall not disclose the documented management systems to any third party including your internal department.
Sub-Contracting
Audit firm to whom work is awarded is not allowed to sub contract the work to any other parties either in part or full.
TENDERING PROCESS:
The tender documents will consist of one envelope which should be superscribed as Appointment of Audit Firm for conducting internal audit of REC Power Distribution Company Limited for the Financial Year 2016-17 and last date of opening.
Envelop consists:
(i) Form-1 (Technical Proposal) duly sealed.
(ii) Annexure-A
(iii) All requisite documents to substantiate the eligibility.
Note: – All the attested copies of required documents to substantiate the eligibility must be submitted along with the Form- I. No further opportunity will be given for submission of any document, subsequent to submission of tender document.
Interested Audit firm may send the bid latest by 05.12.2016 upto 11:00 am.
here under.
Address-1016-1023, 10th floor, Devika Tower, Nehru Place, New Delhi-110019 E-Mail-fin.delhi@recpdcl.in
Contact
No- (011)44128755, (011)44128768(Fax)
SECTION- V EOI FORMATS
On Audit Firm Letter Head
FORM‐I
Technical Proposal
To,
Chief Executive Officer,
REC Power Distribution Company Ltd.,
1016‐1023, 10th Floor, Devika Tower,
Nehru Place, New Delhi‐110019
Sub: Appointment of Audit Firms for conducting internal audit of REC Power Distribution Company Limited for the Financial Year 2016‐17
Sir,
1. With reference to your Tender No.____________ dated_________ for appointment of Audit Firms for conducting internal audit of REC Power Distribution Company Limited for the Financial Year 2016‐17, I wish to apply to RECPDCL.
2.
Sl. No. |
Particulars |
Minimum Eligibility |
Point per criteria
|
Maximum
|
Documents required |
Documents submitted |
Respective page no. |
1 |
No. of completed years of existence. |
5 years |
1 point per completed yea |
10 |
Copy of Certificate of
|
||
2 |
Any one qualified ISA/DISA/CISA/CIA/partner or Employee |
1 Person |
1 point per
|
5 |
Copy of Certificate
|
||
3 |
No. of CA/CMA qualified partner |
3 partners |
2 points per
|
10 |
Copy of Certificate of
|
||
4 |
Experience of Internal Audit assignment in atleast three Central/State Government PSUs and Private Companies, having average turnover of Rs. 250 Crores in the preceeding three
|
3
|
2 points per assignment |
20 |
Work Order and
|
||
5 |
Experience of Internal Audit in ERP environment in last three years. |
3
|
2 points per assignment |
10 |
Work Order and
|
||
6 |
Experience of Statutory Audit assignment in three Central/State Government PSUs having average turnover of Rs. 100 Crores in the preceeding threefinancial years. |
3
|
1 point per assignment |
10 |
Work Order and
|
||
7 |
Average Annual Turnover of preceeding three years. |
100 Lakhs average turnover |
3 points per 100
|
15 |
Audited Financial
|
||
8 |
Experience of handling work assignments relating to Service Tax, VAT, WCT, Labour Cess and other statutory compliances of companies having turnover of Rs. 50 Crores. |
1
|
2 points per assignment |
10 |
Work Order and
|
||
9 |
Firm having HO/Branch office registration in Concerned CO/ZO/PO/CIRE City |
HO/Branch
|
2 points per
|
10 |
Rent
|
||
Total |
100 |
||||||
Note: ‐ “Professional firms scoring highest marks based on the technical parameters would be considered for the appointment of Internal Auditor for FY 2016‐17.” In case of tie of marks, the firm having maximum PSU’s assignments shall be considered. Further, in case of tie in no. of PSU assignments, the firm having audit assignment of PSU client with largest turnover in any of the preceding 3 years will be considered for award of present audit work.
Further, we hereby consent and accept the work, if awarded to us at the offered fee (all inclusive‐including travel and out of pocket expenses) of Rs. 1,50,000/‐ (plus applicable taxes), which shall be payable as per the terms of payment.
Further more, I hereby certify that:
I have read the provisions of the all clauses and confirm that notwithstanding anything stated elsewhere to the contrary, the stipulation of all clauses of Limited Tender are acceptable to me and I have not taken any deviation to any clause.
3. I further confirm that any deviation to any clause of Tender found anywhere in my bid, shall stand unconditionally withdrawn, without any cost implication whatsoever to the REC PDCL.
Date:
Place:
Signature…………………………….
Full name…………………………….
Designation…………………………
Address
Note: In absence of above declaration/certification, the response is liable to be rejected and shall not be taken into account for evaluation.
ANNEXURE “A”
On Audit Firm Letter Head
With reference to your Tender No.__________ dated________ for appointment of Audit Firms for conducting internal audit of REC Power Distribution Company Limited for the Financial Year 2016-17, We hereby convey our consent for accepting the following attestation fees for any documents need be certified by the us for the submission to any Statutory Authority/Clients/BANKS or with the bid documents to be submitted by the company or otherwise.
| All Inclusive fee to be paid at each occasion | |
| Attestation of True copies of documents. | Rs. 500/- |
| Attestation/ Certification of figures/ documents based on already audited/ reviewed by internal/ statutory auditors. | Rs. 1,500/- |
| Attestation/ Certification of figures/ documents based on unaudited figures/ Document. | Rs. 2,500/- |
Date:
Signature……………………………….
Place:
Full name……………………………….
Address…………………………………….
…………………………………….
…………………………………….
Stamp………………………..
ANNEXURE “B”
List of Audit Firms participating in the limited tender:-
| S.No. | Particulars |
| 1 | AVA & Associates |
| 2 | K.C. Khanna & Co. |
| 3 | S Mohan & Co. |
| 4 | Awatar & Co. |
| 5 | J.P.Chawla & Co. LLP |
| 6 | V P Batra & Co. |
| 7 | B.K. Gupta & Associates |
| 8 | Nangia & Co. |
| 9 | Vijay Sehgal & Co. |
| 10 | N.C. Aggarwal & Co. |
| 11 | Gupta Garg & Agarwal |
| 12 | A.N. Garg & Co. |
| 13 | S.N.M.G. & Co. |
| 14 | Budhraja Adlakha & Co. |
| 15 | P.K. Gaur & Associates |
| 16 | Indra D. Narayan & Co. |
| 17 | Sunil Vijay & Associates |
| 18 | Vijay Mukesh & Co. |
| 19 | Chaturvedi & Partners |
| 20 | R.C. Chaddha & Co. LLP |
