Bank of India
Relationship beyond banking
REQUEST FOR PROPOSAL
FOR
OUTSOURCING OF
INTERNAL AUDIT OF NEW YORK BRANCH
Ref: BOI:NY:AUDIT:2019-20:125
Dated: 11/27/2019
Contents
| Description | Page No |
| Invitation to Bid | 3 |
| Requirements, Terms and Conditions (ANNEXURE- A) | 7 |
| Broad Scope of Work (ANNEXURE – B) | 18 |
| Technical Bid | |
| Proposal Form (Form T1) | 21 |
| Company Profile (Form T2) | 23 |
| CVs of Associated Persons (Form T3) | 24 |
| Non-Disclosure Agreement (Form T4) | 26 |
| Document Verification Checklist for Technical Bid (Form T5) | 28 |
| Price Bid | |
| Price Proposal Undertaking (Form P1) | 30 |
| Price Proposal – Payment Terms (Form P2) | 32 |
| Contract Form (Form P3) | 34 |
| Proficiency Assessment Form- SUMMARY (Form P4) | 37 |
| – Proficiency Assessment Computation Worksheet (Form P4-I) | 38 |
| – Approach Methodology to be adopted for project & capabilities for Internal Audit of New York Branch (Form P4-1I) | 40 |
| – Company Profile in detail (Form P4-111) | 42 |
| – Preparation of Internal Audit related Reports/Documents of Banking and Financial Sector (Form P4-IV) | 44 |
| – Expertise/skills available. (Form P4-V) | 45 |
| Document Verification Checklist for Price Bid (Form P5) | 47 |
Ref: BOI:NY:AUDIT:2019-20: 125
Dated : 11/27/2019
Bank of India,
Head Office,
Inspection & Audit Department,
C/o Bank of India,
New York Branch,
277, Park Avenue,
New York- 10172
Phone: 646 720 0391
Fax: 212 980 0052
RFP – Out sourcing of Internal Audit of New York Branch
1. GENERAL
A) This RFP is downloadable from the bank’s web-site. The RFP is being forwarded to the accounting/audit firms who are having presence in New York Tri-state area and are having a Gross Revenue above 00Mn and are having on its payroll more than 50 professionals(CPA’s/ CMA’s/ CISA and similar) as per the last published reports .
B) The last date for submission of RFP is 12/12/2019 and should reach Bank of India, New York Branch, 277 Park Avenue, New York 10172 by 4.00 p.m. on that day.
C) No proposals would be accepted after the above
D) The Technical Bids will be opened on 12/18/2019 (Wednesday) at 11am in the office of Bank of India New York Branch. The bidder may, if so desire, depute their representative at the time of opening of Technical
E) The Bank reserves the right to accept any proposal or reject all the proposals, without assigning any reasons The Bank’s decision in this regard shall be final and binding.
2. Submission and Evaluation of Proposals
i) The Proposal shall be submitted duly signed by the authorized signatory with the seal of the Accounting /Audit Firm in two separate envelopes and to be delivered at the address given below (Re- Contact Person & Communication Address)
√ Part I containing the Technical and Qualification aspects hereinafter referred to as`Technical Proposal’ and
√ Part II covering only the price schedules hereinafter referred to as the `Price Proposal’.
ii) Each envelope must be sealed separately and super-scribed with the name of the Project “RFP for Internal Audit of New York Branch of Bank of India” and a statement “DO NOT OPEN BEFORE 12/18/2019″. ‘Technical Proposal’ or ‘Price Proposal’ should be written on the envelop.
iii) All documents pertaining to Technical Proposal Envelope should be completed and duly signed by the authorized signatory with the seal of the bidder. These are listed below:
(a) Proposal Form (Form T1).
(b) Company profile (Form T2).
(c) Curriculum Vitae of persons proposed to be associated with the assignment (Form T3).
(d) Non- Disclosure Agreement (Form T4)
(e) Document verification checklist for Technical Proposal (Form T5).
iv) All documents pertaining to Price Proposal Envelope should be completed and duly signed by the authorized signatory with the seal of the bidder. These are listed below:
a. Price Proposal Undertaking (Form P1).
b. Price Proposal-Payment Terms (Form P2).
c. Contract Form (Form P3)
d. Proficiency Assessment Form – SUMMARY (Form P4)
e. Proficiency Assessment Computation Worksheet (Form P4-I)
f. Approach Methodology to be adopted for project & capabilities of Internal Audit of New York Branch (Form P4-II)
g. Company Profile in detail (Form P4-III)
h. Preparation of Internal Audit related Reports/Documents of Banking and Financial Sector (Form P4-IV)
i. Expertise/skills available (Form P4-V)
j. Document verification checklist for Price Bid (Form P5).
v) A Technical Proposal containing any price information will be summarily rejected.
vi) The Bank will examine the proposal submitted by the vendors to determine whether they are complete, the documents have been properly signed, required information has been provided and the Bids are generally in order.
vii) The Bank reserves the right to evaluate the proposals either by itself and/or in coordination with and/or by engaging any outside consultants/experts.
viii) The Bank will evaluate proposals of the Respondents as per the contents of the response to the Request for Proposal submitted by the Respondents. The respondents are to submit all details information that would help evaluation.
ix) During evaluation, the Bank, at its discretion, may ask the Bidder for clarification of its offer. The request for clarification and the response shall be in writing, and no change in the substance of the submission shall be sought, offered, or permitted. The Bank reserves the right to verify the facts mentioned in the offer with respect to the information given by the respondent.
x) After evaluation of technical bid as per procedure Para XV of Annexure A, the price bids of only those respondents who are short-listed by the Bank would be opened. Intimation of short listing would be given only to the short listed vendors.
xi) The Bank would neither be bound to offer any reasons for such acceptance/ rejection nor entertain any correspondence with the technically rejected respondents in this
xii) The Request for Proposal would neither bind the Bank in any contract nor is it an offer of a contract. The details of services to be offered and documentation thereof would be undertaken with the final vendor.
xiii) The Bank reserves the right to terminate the assignment, if the assignment is not proceeding in accordance with the terms of contract or to the satisfaction of the Bank, by issuing a notice of one month.
xiv) The Bank reserves the right to modify the assessment methodology or the weightages/marks as stated in proposal (RFP). The Bank may in its discretion modify any marks stated by the bidder after scrutiny of documents and/or after ascertaining the factual position.
xv) The bidder selected for the assignment should adhere to the local quality standards and regulatory directions in this regard.
xvi) All costs shall be denominated in US dollars.
xvii) The bidder understands that in the course of submission of the offer for the said Services and/or in the aftermath thereof, it may be necessary that the bidder may perform certain jobs/duties on the Bank’s properties and/or have access to certain systems, plans, documents, approvals or information of the BANK.
xix) The engagement is for three year term with the option to renew the engagement annually on the same terms & conditions (consistent with practice of Indian Banks).
3. Contact Person and Communication Address:
Arvind Kujur,
Asstt. Vice President (Audit),
Bank of India,
New York Branch,
277,Park Avenue,
New York 10172.
Phone: 646 720 0391 Fax: 212 980 0052
E-mail id:
Headoffice.landA@bankofindia.co.in
Boi.ny@bankofindia.co.in
arvind.kujur@bankofindia.co.in
CA.Newyork@bankofindia.co.in
Read Full Details here- https://www.pdicai.org/Docs/Bank-Of-India_29112019113642541.pdf
