Dear Professional Colleague,

At the outset, I would like to thank my esteemed colleagues for interacting in various forums and sharing concerns and suggestions pertaining to the profession. With a view to contain the tendering system for attest functions, the Institute decided as under:

1.  Tendering has been prohibited in the exclusive areas of practice of chartered accountants like audit and attestation services. i.e. those areas where the assignments can be performed only by chartered accountants.  In those areas, where alongwith chartered accountants, the other professionals can also apply for the tender, there is no restriction for the chartered accountants to respond to the tenders floated by authorities from time to time.

2.   Members are advised to adhere to the recommended scale of fees prescribed by ICAI in the context of various professional assignments. To ensure such adherence, a member responding to a tender should be required to furnish to ICAI at the designated e-mail address pdc.tender@icai.in  with estimated hours to be devoted by the partner/proprietor, paid CAs, other staff and the fees quoted in the tender. Such details will be furnished by the member within a period of fifteen days of his responding to the tender. If the member is successful in securing the tendered assignment, then the member will also furnish the actual hours devoted by the partner/proprietor, paid CAs and the staff within two months of completion of the assignment.

3. Members are required to maintain cost sheet in the given format while submitting any tender/bid. The format of the same can be viewed at http://220.227.161.86/38366pdc28039.pdf

4. Members are required to maintain the cost sheet compulsorily and submit a soft copy of the bid submitted by them in response to any tender within 15 days to ICAI.  The office can check whether recommended scale of fees has been followed or not in those bids, to ensure adherence to quality standards.

We would also like to inform that the Institute is also approaching authorities/companies floating tenders for availing services of CAs.

Further, we would also like to inform that Multipurpose Empanelment Form for the year 2015-16 has been made live at www.meficai.org . Last date for submission of online form is 31st August, 2015 and the last date of submission of hard copy of “DECLARATION FOR MEF 2015-16” is 15th September, 2015. Moreover, the panel formed on the basis of this MEF form will be used as panel for various requesting authorities/regulators.

You are requested to kindly fill up the Multipurpose Empanelment Form for the year 2015-16 well in time.

With kind regards,

Yours sincerely,

(CA. Anuj Goyal)
Chairman, Professional Development Committee

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Category : Income Tax (27501)
Type : News (13636)
Tags : chartered accountants (582) ICAI (2603)

0 responses to “Development of Mechanism to Monitor Tendering by CAs”

  1. CA Amresh Vashisht says:

    https://taxguru.in/chartered-accountant/remarkable-decision-tenders-icai-clarification-sought.html

    Kindly go through the letter to President . We want reply .

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