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National Backward Classes Finance & Development Corporation, Kranti Marg, New Delhi
October, 17th 2019
EOI for Appointment of Audit firms for conducting Internal Audit of
             NBCFDC for the Financial Year 2019-20
          No. NBCFDC/IA/2019-20                           Dated: 11.10.2019


                                          BY




      National Backward Classes Finance & Development Corporation

           (A Govt. of India Undertaking under the Ministry of SJ&E, GOI)

                                       Office

               5th Floor, NCUI Building, 3 Siri Institutional Area,
                    August Kranti Marg, New Delhi-110016
                    TEL:011-45854400 Fax: 011-26850086

         Description of task, qualification required, EoI submission format
      and procedure is available on NBCFDC website (www.nbcfdc.gov.in)



                                                                         (A. K.Samal)
                                                                        GM (Fin) & CS


 [This Document is meant for the exclusive purpose of Audit against this EoI and
 shall not be transferred, reproduced or otherwise used for the purpose other
 than that for which it is specially issued.]




                                         1
      NATIONAL BACKWARD CLASSES FINANCE & DEVELOPMENT CORPORATION

                                    INDEX

SL.                   Particulars                      Page no.
NO.

 1      SECTION-I     EOI INFORMATION                     3



 2      SECTION-II    PREFACE                             4



 3      SECTION-III   SCOPE OF WORK                       5



 4      SECTION-IV    INSTRUCTIONS                        6



 5      SECTION­ V    EOI FORMATS                         8




                                            2
                                  SECTION-I EOI INFORMATION

Name of the assignment:   Tender for Appointment of Audit Firms for conducting Internal Audit of
                          NBCFDC for the Financial Year 2019-20



                                          Important information



       Sl.No.   Event                                  Information to the agencies

          1     Date of Release                        11.10.2019

          2     Last date of submission                04.11.2019.at 1100 hours

          3     Date of Opening                        04.11.2019 at 1500 hours

          4     Eol document                           The details can be downloaded free of
                                                       cost from the websites
                                                       www.nbcfdc.gov.in

                                                       NBCFDC¸5th Floor, NCUI Building, 3, Siri
                                                       Institutional Area, August Kranti Marg, New
          5     Address for communication              Delhi-110016.
                                                       Contact : 011-45854400
                                                       Fax: 011-26850086

                                                       Email- info@nbcfdc.gov.in


          6     Contact Person                         A. K. Samal, GM(Fin) & CS
                                                       Phone:011-45854400;
                                                       Fax: 011-26850086
                                                       Email- info@nbcfdc.gov.in




                                                   3
                                    SECTION-II PREFACE


National Backward Classes Finance and Development Corporation (NBCFDC), is a Govt. of India Undertaking
under the aegis of Ministry of Social Justice and Empowerment. The Corporation was incorporated on 13th
January, 1992 as a Company not for profit under Section 25 of the Companies Act, 1956 (now under Section 8
of the Companies Act, 2013), with an objective to promote economic and developmental activities for the
benefit of members of Backward Classes living below double the poverty line through State Channelising
Agencies (SCAs) nominated by the respective State Governments / Union Territories. The Corporation has
registered a profit of surplus of Rs 27.70 Crore in the Financial Year 2018-19 and the net worth of the
company as on 31.03.2019 is Rs 1791.23 Crore. The corporation is having its Registered / Corporate office at
5th Floor, NCUI Building, 3, Siri Institutional Area, August Kranti Marg, New Delhi-110016.


The company intends to appoint an Audit Firm for conducting internal audit for the Financial Year
2019-20. The Firms are therefore requested to send their Proposal as per the Terms of Reference described
below.




                                                      4
                              SECTION-III SCOPE OF WORK

The audit firm would be required to conduct the internal audit of NBCFDC in accordance with the standards /
procedure on internal audit. The detailed scope of work for Internal Audit for the financial year 2019-20 is at
Annexure - A.:


Initial engagement period of appointment will be for one year for the FY 2019-20. Based on the satisfactory
performance, the tenure may be further extended year on year basis for a maximum period of three more
years.

The company invites sealed tenders super scribing the name of the work for consideration.


 TIMELINES:

   Schedule                    For the period                 Remarks
   1st Half Yearly Audit       1st     April,   2019 to 30th Audit to be commenced immediately
                               Sep, 2019                     after award of work order.


   2nd   Half Yearly Audit     1st     Oct,     2019 to 31st Should be completed by 30th April,
                                                             2020
                               March, 2020


The internal audit of the accounts should be carried out on half yearly basis without any over lapping. Half
yearly reports need to be submitted to the MD, NBCFDC after completion of each half year and the audit
period should be minimum of 10 days for each phase of audit covering the entire scope.






Audit firm is required to visit NBCFDC 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 qualified
Chartered Accountant / Cost Accountant with at least 10 years of experience and 1 semi-qualified staff
(CA/CMA, Inter CA/CMA, M.Com) who have strong exposure & experience and should be closely supervised
by a partner level person who will oversee the audit and attend all meetings with the Top Management /
Audit Committee, when required.




                                                      5
                                SECTION-IV INSTRUCTIONS

PRICE BASIS AND PAYMENTS

The proposal should include price all-inclusive lump sum (including TA/DA and other out of pocket
expenses, etc.) in Indian Rupees only, for the entire scope of work covered under the Terms of Reference on a
firm price basis (with no escalation provision for whatever reason) valid till the complete execution of the
assignment as per the format at Annexure ­ B in a separate envelope sealed properly. The Contract price
and the scope of work also include any services, etc. which is not specifically identified but are required for
completion of the assignment. GST if any, will be paid extra at the applicable rates and is not to be quoted in
the price.







TERMS OF PAYMENT
All payments would be claimed by the Firm from NBCFDC on being due, and would be accepted for payment
by Competent Authority of NBCFDC based on the satisfactory completion of the work in sole discretion of
NBCFDC. The payment to the Auditing Firm under the contract shall be released after achieving the
milestones as per the following terms:


 100% Payment                                After Successful Completion of 2nd Half Yearly Audit


The audit firm shall raise invoice after successful completion of audit and as per the work order. NBCFDC
shall make payment on receipt of such invoice in duplicate.

TAXES AND DUTIES

NBCFDC shall be entitled to deduct applicable tax (if any) at source as per Indian Laws from all payments due
to the Auditing Firm under the contract.

As regards the Indian Income Tax, surcharges on Income Tax and any other Statutory tax, NBCFDC shall not
bear any tax liability, whatsoever, irrespective of the mode of contracting. The Auditing 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.




                                                       6
OWNER'S RIGHT TO ACCEPT/ REJECT THE PROPOSAL


NBCFDC reserves the right to accept or reject the proposal at any time prior to award of Contract, without
thereby incurring any liability to the Auditing Firm concerned or any obligation to inform the Auditing Firm
concerned of the grounds for the Owner's action.


Confidential

The Audit firm shall not disclose the documented management systems to any third party including their
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 two envelopes which may be super scribed as "Technical Proposal " and
"Financial Proposal" respectively. Both the said two envelops ( Technical proposal and Financial Proposal)
should be kept inside a third envelop, super scribed as "Quotation for Engagement of Audit firm for
conducting internal audit of NBCFDC for the Financial Year 2019-20"


Envelop-1 consists:

(i) Form-1 (Technical Proposal)

Envelop-2 consists:

(ii)Form-2 (Financial Proposal)

Interested Audit firm may send the bid latest by 04.11.2019 at 1100 hrs. Technical Proposal shall be opened
on 04.11.2019 at 1500 hrs. Financial bid of technically qualified bidders only (as per eligibility criteria) shall
be opened on a later date with prior information to concerned bidders.

The price bid of only those bidders who have technically qualified will be opened. It is to be explicitly
understood that non submission of bids in the above manner will deem the bidder ineligible.

In case of any further information in this regard, undersigned may please be contacted as per details
mentioned hereunder.

Address : NBCFDC 5th Floor, NCUI Building, 3, Siri Institutional Area, August Kranti Marg, New Delhi-110016
E-Mail-nbcfdc@del3.vsnl.net.in Contact No : +91-11-45854400 FAX : +91-11 26850086.

Note: Any corrigendum to this tender if any shall be uploaded in the website of the Corporation i.e.
www.nbcfdc.gov.in.




                                                        7
                                        SECTION- V EOI FORMS
                                       On Auditing Firm's Letter Head
                                                                                                      FORM-I
                                              Technical Proposal
To,
Managing Director
NBCFDC
5th Floor, NCUI Building,
3, Siri Institutional Area,
August Kranti Marg,
New Delhi-110016

 Sub: Appointment of Audit Firms for conducting internal audit of NBCFDC for the Financial Year 2019-20

Sir,
         With reference to your Tender No: NBCFDC.............. Dated:................. for appointment of Audit
Firms for conducting internal audit of National Backward Classes Finance & Development Corporation for
the Financial Year 2019-20, I/we wish to apply for the appointment as internal auditor of NBCFDC and
the particulars are as follows:
 SL     Minimum          Qualifying      Point Criteria   Maximum           To be fill by Bidder     Supporting documents
 No.    criteria                                          Marks

                                                                     Actual              Marks
                                                                                         obtained

  1     No of years of existence of      2 point per                                                 Copy of certificate of
        the firm (10 years & above)      year over &          10     ...........yrs                  incorporation from the
                                         above     10                                                Institute
                                         years
  2     One ISA/DISA/CISA full time      3 point per                                                 Copy of certificate in the
        partner/full time employees      qualified            10                                     name of the partner /
                                         person over                 ...........Nos                  employee
                                         & above 1
  3     One partner having post          3 point over                                                Copy of certificate of
        qualification of experience      & above 1            10                                     practice issued by the
        of 10 years & above              partners                    ...........Nos                  Institute in the name of
                                                                                                     partner
  4     Internal Audit assignment        3 points over                                               Work Order & copies of
        (at least three) in CPSE in      & above 3                                                   the completion certificate
        the last 5 years                 assignments          10     ...........Nos                  / acceptance of internal
                                                                                                     audit       reports     by
                                                                                                     management as issued by
                                                                                                     the CPSEs
  5     Three       assignment    of     2 point per                                                 Work Order & copies of
        Internal / concurrent audit/     assignment                                                  the completion certificate
        statutory audit of any Banks     over & above         10     ...........Nos                  from the respective CPSEs
        in the last 5 years              3

  6     Minimum receipt/Turnover                                                                     Statement of Profit & Loss
        of   Rs.10.00 lakhs       in                                                                 duly audited.
        consecutive last three years
        (2016-17 to 2018-19)

  7     Firm having Registered                                                                       Certificate of Incorporation
        Office at Delhi/NCR                                                                          from Institute / Rent
                                                                                                     Agreement / electricity Bill
                                                                                                     / telephone bill etc in the
                                                                                                     name of firm
                                                          8
#Professional firms fulfilling minimum qualifying criteria of all above 7 points & those who obtain at least
35 marks out of 50 marks based on the technical parameters would be considered for opening financial
bids for selection of bidder based on the lowest commensurate fees quoted by the professional firm.

## CA / CMA firms are eligible for award of work of Internal Audit for NBCFDC.

1. Further, I/we hereby certify that:
     I/we have read the provisions of the all clauses and confirm that notwithstanding anything stated
     elsewhere to the contrary, the stipulation of all clauses of Tender are acceptable to me/us and I /we
     have not taken any deviation to any clause.

2. I/we further confirm that any deviation to any clause of Tender found anywhere in the bid, shall stand
   unconditionally withdrawn, without any cost implication whatsoever to the NBCFDC.

3. Further, it is to confirm that our offer shall remains valid for acceptance for a period of 60 days from
   date of opening of bids.

4. I/we further confirm that all requisite documents will be provided by me/us at the time of submission
   of bid and accept that NBCFDC can treat my/our bid as technically unresponsive in case of non-
   submission of the documents as stipulated above, to the satisfaction of NBCFDC.




                                                                              Signature.................................
                                                                              ......


                                                                              Full
                                                                              name........................................

                                                                              Designation/Firm
                                                                              Name.............

                                                                              Address with
                                                                              Phone......................

                                                                              FAX & Mobile No:
                                                                              ........................

                                                                              E-Mail
                                                                              :............................................



                                                                              Seal



Note:
a) In absence of above declaration/certification, the response is liable to be rejected and shall not be
    taken into account for evaluation.

b)    Bidders are requested to tick the respective checklist of documents being submitted.

c)    Bidders not submitting the required supporting documents for fulfilling the criteria will be
      summarily rejected without any further clarification.
                                                     9
                                                                                      Annexure-A

    National Backward Classes Finance and Development Corporation.
INTERNAL AUDIT          :        SCOPE OF WORK

1. Routine Checking of all accounting and financial transactions i.e. verification of vouchers,
   checking of banking transactions with particular emphasis on disbursements of loan
   repayments and utilization, interest receipts, loan agreements, loan documentation,
   checking of State Block Govt. Guarantees (BGG) / Bank Guarantee / GO and other loan
   documents with regard to their validity for the purpose of future loan;






2. Verification of various financial accounting and investment planning and transaction with
   specific reference to various rules and regulation and guidelines as prevalent from time to
   time, their interpretation and applications in National Backward Classes Finance &
   Development Corporation leave accounts, TA, LTC and other staff advances in line with
   such rules etc.

3. Sectional audit including verification and checking of all records and registers in legal,
   stores and administrative sections like leave accounts, leave encashment, LTC encashment
   / availment etc. relating to financial transaction;

4. Verification of compliances of all purchase records i.e. receipts and issue etc;

5. Checking of 100% interest calculation on loans/advances.

6. Checking of Interest calculations and procedure for short term investment/FDs of surplus
   funds.

7. Checking of overdues statement, NPA Statement etc.,

8. Verification of various taxation liabilities of NBCFDC (TDS, Advance Tax, Self Assessed Tax
   and GST etc,).

9. Internal Auditors should review the existence, reliability and integrity of financial and
   operating information/reporting system and the means used to identify measures, classify
   and report such information.

10. Internal Auditors should review the systems established to ensure compliance with those
    policies, plans, procedures, laws and regulation which could have a significant impact on
    operations and reports and should determine whether the organization in compliance
    thereof or not;

11. Internal Auditors should review the means of safeguarding assets and as appropriate and
    carry out physical verification of assets to verify the existence of such assets;

12. Internal Auditors may make suggestion for control of unproductive expenditure to ensure
    maximization of return on investment and should check that there is no leakage of
    revenue.
                                            10
13. Internal Auditors should appraise the economy and efficiency with which resources are
    employed;

14. Valuable suggestion to make coverage with Indian Accounting Standard [IAS]/IND AS/Indian
    Financial Rules Regulation Act [IFRRA] issued by Ministry of Corporate Affairs, Govt.of India.

15. Internal Auditors should review the operations or programes to ascertain whether results
    are consistent with established objectives and goals and whether the operations or
    programmes are being carried out as planned.

16. Internal Auditor will also check the half yearly/yearly balance sheet along with Profit & Loss
    Accounts etc. and shall give suggestion regarding compliance of Indian Accounting
    Standard and Ind As Accounting practices.

17. To attend the Audit Committee/ Board meetings of the Corporation as and when required
    by the Corporation.

18. Internal Auditors should report proper checks and balance exist in the policy & operations
    for disbursement of loan and disbursement of training grant.

19. Internal Auditors should also report on statuary internal compliance/control.


OTHER CONDITIONS

    i.      The Internal Auditors shall complete the internal audit on continuous basis. The
            observations brought out in the report shall be initially discussed with the
            concerned officers and based on satisfactory explanation/feedback provided,
            observations, if any, of the report shall be dropped. The final audit on half yearly
            basis shall be submitted to NBCFDC positively within stipulated time.

    ii.     The Internal Audits should take into consideration the comments of Statutory
            Auditors and may discuss the same with Statutory Auditors as and when required
            to minimize the comments;

    iii.    The Internal Auditor shall verify the action take/compliance of the observations of
            the Internal, Statuary & Govt. Auditors.




                                               11
List of deliverables

        To check the half yearly/yearly balance sheet along with Profit & Loss Accounts etc. and
        shall give suggestion regarding compliance of Indian Accounting Standard and Ind-AS
        Accounting practices;

        To verify various statutory compliances

        To verify/check Interest calculations and procedure for short term investment/FDs of
        surplus funds.

        Verification of various taxation liabilities of NBCFDC (TDS, Advance Tax, Self Assessed
        Tax and GST etc,).

        To check Skill Development Training Proposal as per SDTP scheme of NBCFDC

        To check CSR expenditure in accordance with CSR policy ;




                                              12
                                                                                                    ANNEXURE "B"

                                   On Auditing Firm's Letter Head

                                       Financial Proposal
                                                                                                              Form-2

To,

Managing Director
NBCFDC
5th Floor, NCUI Building,
August Kranti Marg,
New Delhi-110016

Sub:        Appointment of Audit Firm for conducting internal audit of NBCFDC for the Financial Year
            2019-20

            Table for Quoting Fee for the Assignment in terms of the Tender.
  (To be kept in a separate Envelope sealed properly while sending the proposal)
       S.                          Particulars                                  Fee in INR (`)
      No.
                                                                         Price bid shall be quoted

 1.          All-inclusive Lump sum fee (including TA/DA and       In Figure         In words
             other out of pocket expenses, etc.) for the entire
             scope of work covered under the Terms of
             Reference on a Firm price basis( with no escalation
             provision for whatever reason) valid till the
             complete execution of the assignment.

Please Note: GST, if any, will be paid extra at the applicable rates and is not to be quoted above. In
case of any discrepancy in Fee between figures and the amount mentioned in Words, the Fee
mentioned in Words shall be taken into cognizance.

Date:                                                                          Signature................................

Place:                                                                          Full name..............................

                                                                               Designation/ Firm Name......

                                                                                Address..................................

                                                                                Phone.....................................

                                                                                FAX .........................................

                                                                                Mobile No...............................

                                                                                E-Mail.....................................

                                                                                 Seal




                                                      13

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