NOTICE OF INVITAION FOR EXPRESSION OF INTEREST FOR EMPANELMENT OF INTERNAL AUDITOR

Transcription

1 NOTICE OF INVITAION FOR EXPRESSION OF INTEREST FOR EMPANELMENT OF INTERNAL AUDITOR EdCIL (India) Ltd is a Public Sector Enterprise with annual turnover of over Rs. 60 Crores under Ministry of Human Resource Development offering consultancy in the field of Education in India and abroad. EdCIL desires to empanel Practicing CA firm for Internal Audit of the Company. Expression of Interest is invited to short list the Firms followed by issuance of request of proposal to the short listed Firms. Guidelines for submission of EOI are placed at Annexure-I. The Practicing CA firms fulfilling the conditions may submit their Expression of Interest together with requisite documents within 21 days from the date of publication of EOI on Website at the address given below super-scribing the envelop EOI for Internal Audit General Manager (Finance) EdCIL (India) Ltd EdCIL House, Plot no-18 A, Sector-16A, NOIDA

2 INVITATION FOR EXPRESSION OF INTEREST FROM PRACTICING CA FIRM FOR INTERNAL AUDIT 1.0 INTRODUCTION Edcil India Ltd is a Public Sector Enterprise with annual turnover of Rs.60 crores under Ministry of Human Resource Development to offer consultancy and technical services in the different areas of Education and Human Resource Development in the country and on global basis. 2.0 OBJECTIVE: EdCIL desires to appoint Internal Auditor with an independent, objective assurance and consulting activity designed to add value and improve organization's operations & accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improving the effectiveness of risk management, control, and governance processes. 3.0 SCOPE OF WORK: GENERAL A) (i) Comment on Internal Control System prevalent in Ed.CIL Corporate Office and SSATSG (New Delhi) in all areas of operation so as to avoid chances of fraud, forgery etc and suggestion for improvement. (ii) Check compliance on assurances given by Head of Departments (HODs) on Internal Audit, Statutory Audit and Government Audit observations. (iii) Check whether Income and Expenditure have been booked in accordance with applicable accounting standards and Company s Accounting Policies and other applicable rules and regulations. (iv) Compliance of various statutory provisions of Law, Acts, Accounting Standards and Regulations applicable from time to time. 2

3 (v) Review whether expenditure incurred on projects are covered under Action Plan Budgets. Where expenditures have increased, the revised action plans have been approved by Competent Authority in this regard and availability of Client s Fund. (vi) Review on Statutory Audit observations under 619(3)(a) report to CAG. The follow up of reports including compliance. B) In addition to General Areas described above, the Internal Auditor has to conduct the Audit for Ed.CIL Corporate office and Registered Office in the following areas also for checking and verification of facts and figures and to report the deficiency in the various procedures/ systems. C) The impact of any statutory and regulatory requirement. D) Review of action taken on Statutory & Government Audit observations. FINANCE & ACCOUNTS a. Review of Accounting Policies with reference to Accounting Standards. b. Checking charging of depreciation as per the provisions of Companies Act & their Insurance etc. Checking of Fixed Asset Register with physical inventory report for existing assets, additions & deletions there from. c. Cash and Bank-Payments & Advances to employees, suppliers, contractors, various institutes and students (Placement Projects) & Receipts of Funds from clients & employees, Bank Reconciliation, identification of Stale cheques and actions taken there on etc. d. Sundry Debtors Management, Loans and Advances. e. Adjustment of staff advance, imprest accounts, suppliers advance, sundry creditors, and their bills etc, adjustments of Pre-paid Expenses, Provision for Project Expenses, scrutiny of old outstanding if any. 3

4 f. Disbursement of vehicle advance as per entitlement of employees, recovery of vehicle advance, compliance of rules and procedures of vehicle advance scheme, calculations of EMIs etc. g. Incurring/approving and booking of the project expenses. h. Pay & Allowances & Perquisites- payment of statutory dues, computation of Income Tax & Tax Deduction at Source (TDS), returns i. Settlement of Traveling Allowances bills/dearness Allowance Bills. j. Checking of Administration payments such as postage reimbursement claims submitted against imprest account, payment of Telephone Bills, electricity bills, use of STD/ISD etc, Payment to various agencies like, House Keeping Services, Security Services, Car hiring agencies etc. k. Scrutiny of Service Tax, VAT, TDS, Checking whether the returns have been filed in time, taxes have been deposited in time and correct tax rates have been applied. Report on outstanding TDS Certificates to be received from the clients. l. Surprise check and physical verification of cash in hand. m. Vouching of all types of vouchers. n. Reporting on systems of tracking of BGs & on its status both issued to client and received from supplier. o. Booking of Income and Sales with corresponding expenses and purchases including award of contracts. ADMINISTRATION a. Checking of personal files, recruitment of personnel, fixation of their pay, attendance record, regularization of attendance, leave records etc. b. Purchase-Stores and other utilities etc & also corresponding booking under various projects. Receipt and Issue of stores, disposal of waste etc. 4

5 c. Engagement/ empanelment of Travel Agents, Advertising Agencies, Suppliers, Office Maintenance & Security Agencies, Vendors etc. d. Maintenance of Staff cars, their servicing, use of staff cars, hiring/use of DLY cars by employees, checking of log books, diesel consumption. e. Repair and Maintenance of office building, maintenance of Gen- Set, its servicing and diesel consumption. f. Issue of Purchase Orders/ Work Orders/Job Orders. g. Review of files maintained in Department. h. Insurance of vehicles and equipments PROJECT DEPARTMENT: (A) TESTING DIVISION: a. Review of Tender evaluation and award of procurement and other work to Suppliers/Parties/Consultants. Checking of comparative Statement through which award of work made, checking of terms and conditions etc. with the job order/ work order & empanelment of vendors b. Review of Purchase Orders/ Work Orders/Job Orders and to comment on the terms of payment, which may be prejudicial to the interest of Company. c. Review of project files maintained in Department. d. Review & scrutiny of Income Booking in accordance with the (B) TECHNICAL ASSISTANCE: a. Review of Agreement as well as India Parties with regard to proper documentation like minutes of the meetings, foreseeing contingencies, foreign exchange fluctuation etc. 5

6 b. Review of tender evaluation and award of procurement and other work to Suppliers/Parties/Consultants & their empanelment. Checking of comparative Statement through which award of work made, checking of terms and conditions etc. with the job order/ work order/tors. c. Review of Purchase Orders/ Work Orders/Job Orders and to comment on the terms of payment, which may be prejudicial to the interest of Company. d. Review of project files maintained in Department. e. Review & scrutiny of Income Booking in accordance with the (C) INSTITUTIONAL DEVELOPMENT DIVISION: a. Review of tender evaluation and award of civil and other work to Contractors/ Parties/ Consultants. Checking of comparative Statement through which award of work made, checking of terms and conditions etc. with the job order/work order. b. Review of procedures adopted for Engagement/empanelment of Architects, Consultants etc. c. Review of payment of R.A. Bills /Architects Bills release of Mobilization & Secured Advance- extra items/ deviation items, escalation. d. Review of Purchase Orders/ Work Orders/Job Orders and to comment on the purchase process followed by the Company for hiring the services of Consultants and purchases for Projects/Company. e. Review of Project files maintained in Department. f. Review & scrutiny of Income Booking in accordance with the 6

7 (D) PROCUREMENT DIVISION: a. Review of Agreement as well as India Parties with regard to proper documentation like minutes of the meetings, foreseeing contingencies, foreign exchange fluctuation etc. b. Review of Tender evaluation and award of procurement and other work to Suppliers/Parties/Consultants. Checking of comparative Statement through which award of work made, checking of terms and conditions etc. with the job order/ work order. c. Review of Purchase Orders/ Work Orders/Job Orders and to comment on the purchase process followed by the Company for hiring the services of Experts and outsourcing of certain activities. d. Review of projects files. e. Review & scrutiny of Income Booking in accordance with the (E) PLACEMENT & SECONDMENT a. Review of Agreement as well as India Parties with regard to proper documentation like minutes of the meetings, foreseeing contingencies, foreign exchange fluctuation etc. b. Review of MOUs with clients. c. Review of MOUs with institutions and sponsoring agencies, project files maintained in Department. d. Advances to students and settlement of advances. e. Checking of project expenditures in accordance with agreements/mou.. 7

8 (F) NEW INITIATIVES a. Review of Agreement as well as India Parties with regard to proper documentation like minutes of the meetings, foreseeing contingencies, foreign exchange fluctuation etc. b. Checking the procedures adopted in selection / enlistment of Business Associates with regard to selection criteria and corresponding evaluation. c. Review of Sales/ Purchase/Accounting Policy and fulfillment of Tax requirements. d. Review of Purchase Orders/ Work Orders/Job Orders and to comment on the purchase process followed by the Company for hiring the services of Experts and outsourcing of certain activities. e. Checking the Purchase and Sales bills which attract VAT/ CST. f. Review of project files maintained in Department. g. Review of Project wise Profitability of each of the project and to report on Project Viability. h. Review & scrutiny of Income Booking in accordance with the G. TSGs (SSA, RMSA, MDM, MI, TE, NLMA, NMEICT) a. Review of Tender evaluation and award of procurement and other work to Suppliers/Parties/Consultants. Checking of comparative Statement through which award of work made, checking of terms and conditions etc. with the job order/ work order & empanelment of vendors. 8

9 b. Review of Purchase Orders/ Work Orders/Job Orders and to comment on the terms of payment, which may be prejudicial to the interest of Company. c. Review of project files maintained in Department. d. Review & scrutiny of Income Booking in accordance with the H. INFORMATION SERVICES: a. Utilization of software, proper operating manual/ documentation. b. Evaluation of Disaster recovery plan for EDP Department. c. Verification of availability of various software/ data, their maintenance, insurance. d. Maintenance & expenditure on Ed.CIL s web-sites e.g. portal & in edcil.co.in. e. Computer maintenance, AMCs, LAN, Internet Connections etc. f. Security and back up provisions with reference to approved IT Strategy/ Plan. I LIBRARY a. Purchase of Magazines/ subscription to various journals/ magazines their disposal etc. b. Purchase/ subscription of news papers, their disposal etc. c. Purchase/ maintenance of library books, Receipts and Issues of books to Staff etc. d. Physical verification of Books in Library. 9

10 TIME SCHEDULE FOR SUBMISSION OF REPORTS: From 1 st April -30 September: Within 31 ST December From 1 st October to 31 st December: Within 31 st January From 1 st January to 31 st March : Within 30 th April The list provided above is inclusive and not exhaustive, more areas may be included either by Internal Auditor in their Internal Audit Programme or by Ed.CIL. 4.0 ELIGIBILITY CRITERIA Applications in the form of Expression of Interest (EOI) are hereby invited from CA Firm with expertise in Auditing in PSEs fulfilling the eligibility criteria set out below: i) The CA Firm should posses 10 years of experience in the field of in Internal Audit, Project Evaluation, Risk Management etc in CPSE environment. ii) iii) iv) The Consultant should possess past experience in executing Internal Audit in at least 3 CPSEs and having at least Five Active Qualified Partners. The consultant should have office in Delhi & NCR. The Firm should be empanelled with CAG. 5. SUBMISSION OF EOI a) The following documents are required to be submitted along with the EOI. i) Copy of Income Tax Return for the AY ii) iii) iv) Copy of Annual Accounts for last 3 years Details of past experience during last 10 years and experience in CPSEs for executing assignments of similar nature. The contact persons in the customer organizations along with their contact particulars may be provided. v) Copy of partnership deed/ registration/ incorporation certificate of the Firm. vi) Copy of PAN card and Service Tax Registration number of the Firm. 10

11 vii) List of branches/ offices in Delhi & NCR of the CA Firm. b) All costs and expenses associated with submission of EOI shall be borne by the applicants submitting the EOI and EdCIL shall have no liability in any manner in this regard or if it decides to terminate the process of empanelment for any reason whatsoever. c) The EOI may be sent in sealed cover marked EOI for Internal Audit so as to reach the following address within 21 days from the date of publication of advertisement in the web-site. EOI received after due date and time will not be entertained under any circumstances. General Manager (Finance) Edcil India Ltd EdCIL House, Plot no-18 A, Sector-16A, Noida d) The Company reserves the right to issue Request for Proposal to such of those consulting firms it deems eligible and qualified. General Manager (Finance) 11