Inviting expression of interest from eligible Firms of Chartered Accountants

ICAI Accounting Research Foundation (ICAI ARF) established by the Institute of Chartered Accountants of India in January, 1999, as a Section 25 Company under the Companies Act, 1956 (now a Section 8 Company under the Companies Act, 2013), for promoting research in the areas of accounting, auditing, capital markets, fiscal policies, monetary policies and other related disciplines.

ICAI ARF hereby invites proposals from eligible Chartered Accountant Firms having preferably their Head Office at following places to be associated for handling its upcoming project of Indian Railways for conversion of its books of accounts from hybrid to accrual accounting:

RFP No. Zonal Railway Place State Minimum Team
Team Leader Team
ARF/RFP/Mar 17/01 Central Railway Mumbai Maharashtra 1 5
ARF/RFP/Mar 17/02 Eastern Railway Kolkata West Bengal 1 5
ARF/RFP/Mar 17/03 East Central Railway Hajipur Bihar 1 4
ARF/RFP/Mar 17/04 East Coast Railway Bhubaneshwar Orissa 1 2
ARF/RFP/Mar 17/05 North Central Railway Allahabad Uttar Pradesh 1 3
ARF/RFP/Mar 17/06 North Eastern Railway Gorakhpur Uttar Pradesh 1 3
ARF/RFP/Mar 17/07 Northeast Frontier Railway Guwahati Assam 1 4
ARF/RFP/Mar 17/08 North Western Railway Jaipur Rajasthan 1 4
ARF/RFP/Mar 17/09 Southern Railway Chennai Tamil Nadu 1 4
ARF/RFP/Mar 17/10 South Central Railway Secunderabad Telangana 1 4
ARF/RFP/Mar 17/11 South Eastern Railway Kolkata West Bengal 1 4
ARF/RFP/Mar 17/12 Southeast Central Railway Bilaspur Chhattisgarh 1 3
ARF/RFP/Mar 17/13 South western Railway Hubli Karnataka 1 3
ARF/RFP/Mar 17/14 Western Railway Mumbai Maharashtra 1 6
ARF/RFP/Mar 17/15 West Central Railway Jabalpur Madhya Pradesh 1 3
ARF/RFP/Mar 17/16 Kolkata Metro Kolkata West Bengal 1 2
Production Units
ARF/RFP/Mar 17/17 Diesel Locomotive Works Varanasi Uttar Pradesh 1 2
ARF/RFP/Mar 17/18 Chittaranjan Locomotive Works Chittaranjan, Asansol West Bengal 1 2
ARF/RFP/Mar 17/19 Integral Coach Factory Chennai Tamil Nadu 1 2
ARF/RFP/Mar 17/20 Rail Coach Factory Kapurthala Punjab 1 2
ARF/RFP/Mar 17/21 Rail Wheel Factory Bangalore Karnataka 1 2
ARF/RFP/Mar 17/22 Diesel Modernization Works Patiala Punjab 1 2
ARF/RFP/Mar 17/23 Modern Coach Factory Rae Bareilly Uttar Pradesh 1 2
ARF/RFP/Mar 17/24 Rail Wheel Factory Bela Bihar 1 2

To assure about the capacity, the firm must satisfy the following eligible criteria:

I. The Firm should be registered with The Institute of Chartered Accountants of India (ICAI) and have Income Tax Permanent Account Number (PAN) and Service Tax Registration;

II. The Firm should have been in operation for at least 10 years after its registration;

III. The Firm should be empanelled with Comptroller and Auditor General of India in category of major audits ;

IV. Average Annual Receipts (i.e. Average Gross Professional Fees) of the Firm in the last 3 financial years ending on March 31st, 2016 must be equal to or more than Rs. 1 (One) Crore;

V. The Applicant will be declared ineligible if its performance or that of any of its partner(s) in current/ previous assignment with ICAI/ ICAI ARF is unsatisfactory.

VI. The firm must not have not been debarred or blacklisted in any of the government

VII. None of the partners or CA employee of the firm thereof is related / associated with any Member of the Central Council / Regional Council or Managing Committee of any of the Branches of ICAI.

Engagement of Key Personnel by the Chartered Accountants Firms

The Chartered Accountant firm is required to engage qualified, experienced and dedicated staff to handle the entire assignment for a period of minimum six months or completion of the assignment, whichever is later. The team shall be deployed on an exclusive basis. All team members shall be stationed full time in the office of respective Indian Railways during the currency of the assignment. The required profile of the key professionals and their desired experience are given herein below:


Qualification Experience
Team Leader FCA Partner of the firm with minimum 10 years’ experience preferably in the area of Government Accounting in India and managing and maintaining business applications, worked on Business Intelligence in large enterprises Applications. Good understanding of online applications with various interfaces and must have played a role in business requirement gathering and documentation. Project management experience is necessary. Knowledge of Railways’ Accounting System will be an added advantage.
Team Member CA Chartered Accountant with minimum 5 years’ experience
preferably in the area of Government Accounting in India.

The firms satisfying the above eligibility criteria may fill their particulars in the Google Document created for this purpose and hosted at the hyperlink latest by 20th March, 2017.

In turn, ICAI ARE will send them the REP (Request Eor Proposal) document via email.


Chairman, Professional Development Committee

More Under CA, CS, CMA

Posted Under

Category : CA, CS, CMA (3861)
Type : News (13867)
Tags : Empanelment (506) ICAI (2695) ICAI empanelment (33)

Leave a Reply

Your email address will not be published. Required fields are marked *