News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax | PPE Safety Kit SITRA Approved | PPE Safety Kit
Tenders »
 Corrigendum3 V.O.Chidambaranar Port Trust, Tuticorin, Tamil Nadu
  Central Cottage Industries Corporation of India Ltd, Nandanam, Chennai
 Panchayat raj Institutions and Gram Kuttchery, Khagaria, Bihar
 Central Cottage Industries Corporation of India Ltd, Nandanam, Chennai
 Corrigendum2 V.O.Chidambaranar Port Trust, Tuticorin, Tamil Nadu
 The Bihar State AIDS Control Society, Sheikhpura, Patna
  Mysore Sales International Limited ,Bangalore, Karnataka
 Karnataka State Minerals Corporation Limited, Shanthinagar, Bangalore
 State Health Agency, Agartala, Tripura West
 Mysore Sales International Limited ,Bangalore, Karnataka
 Gujarat State Road Development Corporation Ltd, Gandhinagar, Gujarat

Central Cottage Industries Corporation Of India Limited, Chennai, Tamil Nadu
December, 12th 2019
                 CCIC/M (F)/INTERNAL AUDITOR/2019-20

     CENTRAL COTTAGE INDUSTRIES CORPORATION OF INDIA LIMITED
                 (An ISO 9001:2015 Certified Company)
            (A Govt. of India Undertaking, Ministry of Textiles)
                     CIN ­ U74899DL 1976 GOI008069




Engagement of CA Firms / Cost Accountant Firms as Internal Auditor for CCIC's
branch / retail showroom at Chennai.

  MSME Development Act, 2006 benefits including relaxation to Start-ups and
                    Women enterprises applicable

                            E-Tender Documents

1. BID DATA SHEET
2. E-TENDER NOTICE
3. TECHNICAL ­ CUM ­ FINANCIAL BID FORMAT
4. INTERNAL AUDIT MANUAL
5. PROGRAMME OF INTERNAL AUDIT
6. TIME SCHEDULE OF INTERNAL AUDIT
7. DEPLOYMENT OF AUDIT PERSONNEL
8. BENEFITS TO MSME
9. ECS MANDATE FORM




                                      1
                              BIO DATA SHEET

1.    NIT RFP NO.                            CCIC/M(F)/INTERNAL
                                             AUDITOR/2019-20
2.    Project / Services                     Engagement of CA Firms / Cost
                                             Accountant Firms as Internal
                                             Auditor for CCIC's branch / retail
                                             showroom at Chennai.
3.    Contact Person                         Sh.Ashish Gupta, Manager
                                             Ph. 7208002119
                                             E-mail ­ cciciche@yahoo.co.in
4.    Bid to be submitted                    Online
5.    Bidding Process                        Two Bid (Technical and Financial)
6.    Website for NIT download and any other www.thecottage.in
      related information
7.    Portal for Online submission           www.eprocure.gov.in/eprocure/app
8.    Validity of bid                        The bid shall be valid for the
                                             F.Y.2019-2020
9.    Selection Mode                         Lowest Price among technically
                                             qualified bidders
10    Time frame for implementation
Schedule of Events
i.    Submission of relevant documents       As per tender document
ii.   Submission of online bids              Latest by 26/12/2019 up to 3.00
                                             pm
iii.  Opening of bids                        e-Procurement portal of NIC
                                             (eprocure.gov.in/eprocure/ap)
                                             27/12/2019 at 4.00 PM

Note: In case any of the days mentioned above happens to be declared a holiday,
the said event shall be held on the next following working day at the same time
and venue




                                       2
                                CCIC OF INDIA LIMTED
           672 ANNA SALAI, TEMPLE TOWER, NANDANAM, Chennai-600035
                           CIN ­ U74899DL 1976 GOI008069
                                  Ph. 044-24330226
                             E-Mail cciciche@yahoo.co.in
                             Website ­ www.thecottage.in

CCIC/M (F)/INTERNAL AUDITOR/2019-20                                     Dated 05.12.19

Sub: Notice inviting bids for engagement of CA Firms / Cost Accountant Firms as
Internal Auditor for CCIC's branch / retail showroom at Chennai

1. Central Cottage Industries Corporation of India Ltd. (CCIC), a Government of India
Undertaking under Ministry of Textiles, invites bid for above services from firms of
Chartered Accountants / Cost Accountant Firms for the F.Y.2019-20.

2. The Corporation is engaged in Retail sale of Handicraft and Handloom products
through its Showroom at Delhi (Janpath, Jawahar Vyapar Bhawan), Stores and
Accounts departments at Bharat Nagar, New Delhi and branches at Kolkatta,
Bangalore, Chennai and small showrooms at Varanasi, Patna and Secunderabad. The
operations of Sales and purchases are made in computerized system M.S.Navision with
LS Retail having small value but high volume. The financial books of accounts at
Chennai branch are on tally based. Total staff strength of Chennai Branch is 6 no's as
on 31-03-2019 & the annual turnover for F.Y. 2018-19 is Rs. 295.71 lacs.

3. The applicant firms meeting the eligibility criteria may apply online at
www.eprocure.gov.in/eprocure/app.

4. No bid shall be entertained other than e-tender.

5. The Scope of work is given in Internal Audit Manual enclosed at Annexure `II'.

6. The last date of submission of offer is 26/12/2019 up to 3.00 PM. Offers received
after the closing time shall not be considered.

7. Opening of Financial Bids - The opening of financial bid shall be informed on our
Website / E-Tender Portal / E-mail.

8. Award of Work - The internal Audit assignment shall be awarded to lowest financial
bidder meeting the mandatory eligibility criteria at Pt.No.9.

i) The Financial bid - The L1 bidder shall be considered.

ii) In case of tie in the L1 Financial bids, the bidder Firm having the older registration
date shall be considered for award of contract.
                                            3
iii) The Firm is required to attend the office at "672 ANNA SALAI, TEMPLE TOWER,
NANDANAM, Chennai-600035" for conducting the Internal Audit. No TA / DA shall be
allowed for attending the office for audit purposes etc. The fees quoted should be
inclusive of all out of pocket / conveyance expenses.

9. Eligibility Criteria

a) The firm must be empanelled with ICWAI / ICAI (attach proof).

b) The firm must have minimum experience of TEN years in Audit as on 31.3.2019
(attach proof).

c) The firm should have their own office within Chennai Region (Postal).

d) The firm should have two qualified CA / ICWA as partner or full time working
employees and 5 paid assistants/articled clerks. The personnel deputed to Audit should
have knowledge/experience in working in computerised environment. Preference will be
given to experience in working in M.S.Naivision with LS Retail software.

e) The Firm should have experience of statutory audit / internal audit /cost audit of
minimum three companies in last three years ending as on 31.3.2019 out of which there
should be two PSUs / listed Company / Company having minimum turnover of Rs.50
lakhs (attach proof).

10. OTHERS-

(i) CCIC has the right to accept / reject the quotation(s) of any firm without assigning
any reason(s) thereof.

(ii) The tenderer shall not be entitled to any compensation for the expenses incurred in
connection with the preparation and submission of tenders.

(iii) If some discrepancies are found between the rates given in words and figures in the
financial bid, the rate as quoted in words shall be adopted.

11. Payment Terms - Payment of Internal Audit fee will be released quarterly on
submission of Audit Report against bill.


                                                                                  Sd/-
                                                                        (Ashish Gupta)
                                                                      Manager (Branch)



                                            4
                                                                                          Annexure ­ I
                                            Bid Form
                                  (To be filled by the Bidder)

To,
Manager (Branch)
Central Cottage Industries Corporation of India Limited
672 ANNA SALAI, TEMPLE TOWER,
NANDANAM, Chennai-600035

Description of the works: Appointment of Internal Auditor.

   1.    Name of the CA / Cost
         Accountant Firm
   2.    Address Head Office
                                                          For eligibility criteria 9(c)

   3.    Address of Dealing Branch                        For eligibility criteria 9(c)
         Office


   4.    Contact Person for the firm
         With Telephone No, Email
   5.    Fax No.
   6.    a) E-Mail Id
         b) Website address, if any
         c) GST Registration No.
         d) PAN Number
   7.    Empanelled with ICAI/ICWAI                 For eligibility criteria 9(a) & 9(b).
         (Attach Proof).
          If yes mention empanelment
         number & date of enrolment
   8.    Experience in the Internal                For eligibility criteria 9(e)
         Audit /Statutory audit                     (Attach details as per proforma I)


   9.    Name(s) of the Partners, their (Attach constitution of Firm from the Portal of ICAI /
         Qualification    (ACA/FCA), ICWAI)
         membership No.etc.             For eligibility criteria 9(d)

   10.   Names           of          Audit For eligibility criteria 9(d)
         Assistants/Articled       clerks,
         Qualified CA, qualifications Please enclose separate annexures as per Proforma
         and experience                                              II attached
   11.   Does your company have an
         existing/past relationship with
         CCIC? Describe the nature
         and extent of this relationship.

                                               5
                                      Financial Bid

 Sr.    Particulars of fee                Branches             Amount (Rs.)     GST (if any) /
 No.                                                            excluding       Percentage
                                                                  GST             (Extra)
 1     Professional fee per Chennai Branch
       annum
       Grand Total

DECLARATION:

1. All the information furnished by me / us here above is correct to the best of my / our
    knowledge and belief.
2. I / we have no objection if enquiries are made about the work listed by me / us in the
   accompanying sheets / annexure.
3. I / We have read all the terms & conditions of tender and instruction of tender document and
   these are acceptable to us.







Signature of Authorized Signatory:                     _________________________
Name and Title of Authorized signatory:                _________________________
Name of Firm/Company:                                  _________________________


PLACE         :
DATE          :




                                               6
                                        PERFORMA- I

                Detail of Internal Audit /Statutory audit Assignments handled

                        (Provide Minimum Five details & attach proof)

Sl.  Name of the organization (with address & telephone no.)   Year for which worked
No. Also mention if PSU / listed company / Private company     as Internal Auditor /
    having turnover of minimum Rs.50 lakhs.                    Statutory Auditor
1.

2.

3.

4.

5.

6.

7.

8.

9.

10.




                                             7
                               PERFORMA- II
                          Details of Key personnel
Sl.   Name   Qualifications Experience Particulars Employed Whether
No.                                        of   Audit in    your having
                                           Work       firm since knowledge /
                                                                 experience in
                                                                 working      in
                                                                 computerized
                                                                 environment
                                                                 /        DISA
                                                                 qualification
1.



2.



3.


4.


5.



6.




                                   8
                                                                             Annexure II
     CENTRAL COTTAGE INDUSTRIES CORPORATION OF INDIA LIMITED

                               INTERNAL AUDIT MANUAL

1.   AIM AND OBJECTIVE OF INTERNAL AUDIT

     The Internal Auditors combines the functions of a pathologist and a physician. He
     has to study, analyse, diagnose and suggest remedies. In fact, he should
     develop a `polyclinic' approach to problems. He does not look at individual cases
     in isolation from the limited stand-point of technical regularity with reference to
     rules or orders but takes a total view of the operations, analyses the reasons for
     the defects, if any, and suggests remedial measures not only for the immediate
     problems but also long term measures for improving the working of the
     organisation.

     For internal audit in this Corporation, the role is both protective and creative --
     Protective is as much as he detects irregularities, mistakes, frauds etc. through
     its concurrent checking of accounting records and Creative because he must
     constantly review internal controls, policies, procedures, financial arrangements
     and makes suggestions for improvement and throw up useful information as an
     aid to management decisions. Greater stress is laid on the creative role of
     Internal Audit.

2.   NATURE AND SCOPE OF INTERNAL AUDIT

     Internal Auditing is an independent appraisal activity within an organisation for
     the review of accounting financial and other operations as well as accounting
     financial and other operations as well as performance against targets that the
     organisation has set for itself. It is a managerial control which functions by
     measuring and evolving the effectiveness of other controls. The overall objective
     of Internal Auditing is to assist all members of the Management in the effective
     discharge of their responsibilities by furnishing them with objective analysis,
     appraisals, recommendations and pertinent comments concerning the activities
     reviewed.

     Internal Audit is thus:

      Assigned a positive role in the Corporation's system of accountability, and;
      Made the hub of an integrated system of audits.

     The accounts will be certified by the Internal Auditors in much the same way as is
     being done by the Statutory Auditors. The Internal Auditors observations will be
     placed before the Managing Director. This is with a view to ensure a measure of
     freedom to Internal Audit in the matter of criticizing the Management without fear
                                          9
     or favour. The suggestions made by the Internal Audit will be examined and
     whatever suggestions are accepted will be implemented. In the day-to-day
     working, however, the Internal Audit will continue to be responsible to the
     General Manager (Finance)/Head of Finance.

3.   INTEGRATED SYSTEM OF AUDIT

     There is multiplicity of agencies at present auditing the accounts of public sector
     undertakings. There are the statutory auditors, CAG and Internal Auditors.

     To further the development of an integrated system of audits, it is necessary that
     besides the checking of accounts and accounting records, Internal Audit should
     carry out an audit of the trading and other activities of the Corporation from
     propriety angle and offer their comments freely. Besides, the area in which govt.
     auditors/statutory auditors have given adverse comments should be further
     examined for compliance.

     Keeping in view the requirements of independence and security, important
     observations of Internal Audit which arise in the course of operational audit
     should also be periodically reported to the Managing Director in an appropriate
     manner. Should the Internal Auditor feel that some of the important points raised
     by them have been, without adequate justification, ignored to the detriment of the
     Corporation's interest, they will have a right to report such matters directly to the
     Managing Director.

     Another step involved in an integrated system of audit is drawing up of internal
     audit programme of work in consultation with the Government and/or statutory
     auditors.

4.   PERIODICITY OF ACCOUNTS

     The financial books of accounts at Chennai branch are on tally based and
     purchase and sales recorded in new ERP. The internal audit is applicable under
     computerized environment.

5.   FINANCIAL STATEMENTS/REPORTS

     Besides the basic books like cash imprest book, cash receipt book, bank book,
     journal and general ledger, various sales/purchase registers, debtors/creditors
     sub-ledgers etc. are also available in software online and will be finalized on
     monthly basis. The trial balance though made available at any given time shall
     also be available on hard copy on monthly basis after finalization.




                                          10
        The Corporation quarterly reviews the accounts list for analysis/checking and
        remedial action. Half yearly results are compiled and midyear reviews/budgets
        prepared.

        Annual Accounts shall be drawn for Audit in the quickest possible time after the
        close of the year and performance evaluated vis-a-vis budgets.

6.      PROGRAMME OF WORK

        Broadly the work of Internal Audit in the Corporation will cover the following
        fields:

      Scrutiny of all basic books, general ledger & subsidiary books to ensure that they
      are accurately maintained. Full checking of vouchers to ensure that they are
      booked into proper accounts in ERP and on timely basis with proper supporting
      documents attached/available separately and are in accordance with accepted
      accounting principles and Accounting Standards issued by the Institute of
      Chartered Accountants of India.

      Sanctions of Competent Authorities exist for all payments and adjustments and
      the same are in accordance with relevant agreements and are properly
      accounted for.

      Examining that the decisions taken by the Management/Board are properly
      implemented at various levels while conducting the transactions.

      To ensure that the directions of Government /Controlling Ministry/Department of
      Public Enterprises are adhered to.

      To ensure that internal controls exist in every sphere of activity of the
      Corporation and are being implemented and updated regularly and are followed
      as per internal control manual of CCIC.

      Examination of contracts, agreements, important decisions, policies and
      procedures relating to procurement, sale, storage and services/expenses to
      ensure that the interest of the Corporation are adequately safeguarded.

      Whether losses are being incurred on trading operations and if so whether the
      same have been approved by the Competent Authority.

      To ensure that the physical stock taking of merchandise and fixed assets of the
      Corporation when conducted by the Management is accurately conducted and
      information is correctly compiled.



                                           11
 Examination of all stock statements in ERP to ensure that the transactions are
 correctly recorded and reports are reliable/accurate.

 Examination of compliance of all statutory laws viz Companies Act, Income Tax
 Act, GST, Labour Laws, P.F., FEMA etc. in the transactions of the Corporation.

 Examination of all GST returns filed as per books of Accounts and correct
 discharge of tax liability, availment of input credit as per the provisions of the Act,
 Issuance of TDS certificates, including compliance to all applicable provision
 under GST.

 To check whether the prices for purchases and sales are determined as per laid
 down procedure. Quantities and quality of the merchandise is approved as per
 quality manual and procedure laid down by the Competent Authority and brief
 reasons have been recorded wherever rejections / returns are made so that
 measure of accountability is ensured.

 To ensure that the ERP software customization / modifications done is
 generating the account books / stock records accurately and they are quarterly
 tested and checked with dummy / live data.

 Examination of export sales vis-à-vis orders received from buyers as per pricing
 policies and compliance with FEMA/RBI regulations/procedures with proper
 discharge/filing of GR liabilities and realization of foreign currency.

 Review of legal cases for/against the company at the end of financial year and
 ensure that contingent liabilities are properly reflected in notes at the end of
 financial year.

 Review of insurance claims filed, settled to ensure realization of outstanding
 claims on quarterly basis.

 Compliance to provisions of Companies Act for maintenance of Statutory
 records/registers/books and filing of relevant returns with the appropriate
 authorities.

 Examination of old stocks lying in Stores/Showroom quarterly and review of
 action taken in this matter. Examination of disposal of damaged stocks.

 Comparison of fixed assets acquired with those of sanctioned budgets and
 review of stock levels against targets fixed.

 Examination of insurance risk covers taken for various Assets of the company to
 ensure that they are adequate.


                                         12
     In carrying out the above checks, the internal audit will lay greater emphasis on
     making constructive suggestions for streamlining procedures and effecting
     economies.

     The detailed Audit Programme of work covering the above fields is Enclosed
     (Annexure III).

     The programme shall cover the Accounts of Head Office as well as the branch.

     The Internal Audit shall be carried out on quarterly basis with quarterly reports. An
     annual audit shall also be conducted to check the balance sheet, profit and loss
     account, schedules and consolidation with separate Annual Internal Audit Report.

7.      INTERNAL AUDIT REPORT

        The Internal Auditors shall furnish the following reports to Managing Director:

        a)     A quarterly report on working of Accounts and other departments of the
               Corporation.
        b)     Annual report reviewing the audit of the year and highlighting areas where
               action has not been taken on their suggestions and
        c)     Annual report on preparation of final accounts and consolidation.

        The above reports shall bring out following aspects:-

        1.     Area of Audit covered and extent of checking as per enclosed
               Annexure ­ 1 and Routine and system errors noticed along the quarter.
        2.     In depth checking of area covered during the quarter and observation on
               adequacy of internal control procedures.
        3.     Conclusions and Suggestions.




                                             13
                                                                   ANNEXURE ­ III
                       PROGRAMME OF INTERNAL AUDIT

                                  PART ­ A
 SL.                      AREA OF AUDIT                               EXTENT OF
 NO.                                                                   CHECKING
1     VOUCHING
(a)    Cash payment / Bank / Cash Receipt & deposits / Journal 100%
       vouchers / Contra Vouchers
2. RECORDING AND PAYMENTS OF PURCHASES/ EXPENSES
(i)    Purchases (Direct) bills and returns                     100%
(ii)   Approval purchase bills and returns                      100%
(iii)  Concessionaire and exhibition Purchase bills             100%
(iv)   Sundry Suppliers & Expense bills                         100%
(v)    Stock Transfer out invoices                              100%
(vi)   Stock transfer in invoices                               100%
(vii) IDS Purchases                                             100%
(viii) Misc. supplies and fixed assets, packing and freight and 100%
       other expenses etc.
3. RECORDING OF SALES/INCOME
(i)    Cash sales (recording in computer and generation of Sample to test systems
       statement) and sales returns                             in each department to
                                                                the     satisfaction   of
                                                                Internal Auditors.
(ii)   Credit sales (including checking of orders received and 100%
       executed) and credit sale returns
(iii)  IDS Sales (including checking of orders received and 100%
       executed)
(iv)   a) Interest on investments                               100%
       b) Interest on staff loans                               Sample checking under
                                                                each loan to the
                                                                satisfaction of Internal
                                                                Auditors.
(v)    Export packing and shipping bills with price fixation.   100%
(vi)   Export sale bills (including W.S.E. Exports) and price 100%
       fixation as per policy/customer's orders.
(vii) Export incentives                                         100%
(viii) All types of commission                                  100%
(ix)   Miscellaneous/other receipts                             100%
4. ESTABLISHMENT EXPENSES
(i)    Checking of monthly pay bill                             One month Complete
                                                                checking       in    two
                                                                quarters.
(ii)   Disbursement/sanction of loans and repayments             100%

                                         14
(iii)   Deduction of tax at source and deposit with govt.             100%
(iv)    Deduction of P.F. and other statutory dues and payment of Sample checking to the
        contributions.                                               satisfaction of Internal
                                                                     Auditors.
(v)     Payment of overtime and other allowances as per rules        Sample checking to the
                                                                     satisfaction of Internal
                                                                     Auditors.
(vi)    Payment of Gratuity and leave encashment and acturial 100%
        valuation
(vii)   Checking of EL/SL balances of Employees and fixation of 100%
        pay in pay scales.
5.      Review of all sub-ledgers, Ledgers and Trial Balances        Every quarter ­ with
        i) Review of all sub-ledgers of vendors / contractors / verification
        service providers.
        ii) Review of main ledgers and trial balances for any
        abnormal transactions and reconciliation of main ledger
        balances with sub-ledger balances.
        iii) Review of old balances in sub-ledgers for appropriate
        presentation / adjustments.
6.      Checking of deduction/collection of taxes under GST, 100%
        income tax, TDS and issue of TDS certificates and filing of
        returns, GST paid under RCM, issuance to tax invoices and
        other provisions of the Act.
7.      Audit of all statutory registers required to be maintained 100%
        under Companies Act, Income Tax and GST act, P.F. and
        Bonus Acts etc. and to ensure their maintenance and
        updation.
8.       a) Checking of mark-ups fixed for sale on merchandise in Sample          to      the
             Stores as per approved policy in Stores copy of invoice satisfaction of Internal
             and sample checking of tags.                            Auditors.
         b) Markdowns and write off of stocks and price change 100%
             reports.
9.      Checking of orders for trading goods for pricing/costing, Samples       for   each
        delivery schedules/order quantities vis a vis stock levels department      to   the
                                                                   satisfaction of Internal
                                                                   Auditors.
10.     Receipt and utilization of grants                          100%
11.     Checking and reconciliation of Purchase and Sales in 100% for each quarter
        financial books with stock books and Checking that the
        book balances are correctly derived by the software
12.     Checking reconciliation of Purchase and Sales in financial 100% for each quarter
        books with GST returns and GST liability and input credit
        availed in the GST return.


                                           15
13.   Checking reconciliation of Service related expenses and        100% for each quarter
      incomes as per financial books with GST returns.
14.   Checking reconciliation of all taxes paid as per financial     100% for each quarter
      books with the respective tax returns.
15.   Physical verification of cash in hand with Cashiers            Quarterly
      (including revenue stamps), franking imprest, postage
      imprest, Parcel Imprest and Export Imprest.
16.   Checking reconciliation of input credit recorded in books of   100% for each quarter
      accounts, availed in GST return and appearing on GST
      Portal.
17.   Physical verification of stocks. Packing and gift wrapping     Once a Year
      material, stationery and fixed assets.
18.   Checking and reporting lapses in no. of cases where            Exception report
      payment has not been made for Direct purchase bills on
      due date of payment
19.   Internal Financial Control Systems                             Every quarter
      Internal Auditor is required to report on Internal Financial
      Control Systems. The broad scope of work is defined as
      under :
      i) To check that internal checks and control system for
      various activities of the Company and monitoring of such
      systems, is in place in the company.
      ii) To check the adequacy of the existing guidelines /
      procedures and Internal control system and suggest
      measures for their improvement / streamlining, Internal
      Auditor is required to report on Internal Financial Control
      Systems.
20.   Cash & Bank                                                    Every Quarter ­ with
                                                                     verification of monthly
                                                                     bank reconciliation and
                                                                     investments.
      i) Checking of bank reconciliation statement, dishonoured / 100% on monthly basis
      stale cheques, if any.
      ii) Check the payments are as per the bank book with the 100%
      relevant vouchers and verify that proper identification of the
      payees' bank account has been obtained for all payment.
      iii) All bank charges, interest received on CCIC's 100%
      investment have been accounted for promptly in the bank
      book and have been verified / checked and a suitable
      record of same is kept.
      iv) Bank guarantees / FDRs and similar documents are kept 100%
      in safe custody.
      v) The cash payments / receipts, if any, do not exceed the 100%
                                          16
     limit as provided under Income Tax Act 1961. As a matter
     of practice all payments to suppliers, contractors should be
     made through "Accounts Payee" cheques / drafts or
     through Electronic clearing systems.
     vi) Check that available funds if any have been invested as     100%
     per CCIC's Investment Policy in fixed deposits.
21 Central Accounts i) Review of Assets ledger, Reconciliation of assets with Annually reference to balances in asset ledger based on physical verification reports ii) Review of accounts schedules and observations, Half Yearly comment in particular on old out standings. iii) Review of depreciation rates and check the depreciation Annually charged in accounts. iv) Check that TDS, GST Returns are submitted in time, monthly check pending cases of disputes if any at different stages there under. v) Compliance with relevant Accounting Standards Annually applicable o the CCIC's accounts. vi) Check that change in Accounting Policy, which has a Annually material effect has been disclosed to reflect the effect of such change in financial statement. vii) Check that the nature and amount of extra ordinary Annually items / exceptional items if any are disclosed in the statement of Profit & Loss Account as per the requirements of Companies Act. 22 Borrowings Quarterly i) Review of drawal from Facility (Loan) agreement in every quarter with verification of interest payment and half yearly other than interest payment 23 Insurance Half yearly i) To check that Insurance cover has been taken for all assets ii) To check that claims along with supporting documents are lodged as becoming due against the policies undertaken by the CCIC, quarterly ageing of claims is also done. 24 HR / Administration / IT Every Quarter­Random checking for major expense head. i) Check that proper records relating to payments of telephone bills, electricity and water charges etc. are maintained. 17 ii) Verify that appropriate registers are maintained for all assets under its charge iii) Verify that appropriate stock and issue registers are maintained for consumables items like toner, paper etc. iv) Scrutiny of files for award of various contracts of Personnel, Administration and IT department and checking execution thereof v) To check whether leave account of each employee is maintained properly as per rules of the CCIC. vi) Check that the work orders of various contracts such as miscellaneous contracts, manpower, security, etc. are awarded as per tendering procure and laid down by CCIC. 25. In-depth checking of adherence to internal control systems for procurement, storage and sale/export of merchandise and service income/expenses and all the above aspects. 18 PROGRAMME OF INTERNAL AUDIT PART ­ B SL. AREA OF AUDIT EXTENT OF NO. CHECKING 1. Scrutiny/audit of quarterly and annual profit and loss 100% account and balance sheet generated from Computer (where manual P&L account and balance sheets are prepared they should also be checked with ledgers/trial balances). 2. Audit of Annual consolidation of Profit and loss account and 100% balance sheet of Head Office and branches. 3. Ensuring that all liabilities and provisions have been made 100% in the books of accounts. Note: Items not covered under the above schedule but mentioned in Audit Programme (Para 6) will be subjected to 100% Audit. TIME SCHEDULE OF INTERNAL AUDIT The Internal Audit has to be conducted as per Audit program of CCIC in the following phases: Phase I - April to June (Quarter 1) Phase II - July to September (Quarter 2) Phase III - October to December (Quarter 3) Phase IV - January to March (Quarter 4) Phase V - Annual Report DEPLOYMENT OF STAFF FOR INTENAL AUDIT Location Minimum number of staff to be deployed Chennai i) One Chartered / Cost Accountant ii) One Semi Qualified/Article/Assistant person for Branch. 19 (ON LETTER HEAD OF THE BIDDER) Annexure ­ IV THIS IS TO DECLARE THAT WE DO NOT HAVE ANY DEVIATIONS FROM THE STIPULATIONS OF YOUR TENDER REFERENCE............................... DATED............................ AND ACCORDINGLY ACCEPT ALL STIPULATIONS WITHOUT ANY RESERVATIONS WHATSOEVER. Name & Signature of Authorized Signatory of Bidder Seal of the Bidder 20 Benefits to Micro and Small Enterprises i) Exemption from submission of Earnest Money/Bid Security: MSEs (and not their dealers/distributors) registered with District Industry Centers or Khadi and Village Industries Commission or Khadi and Village Industries Board or Coir Board or National Small Industries Corporation or Directorate of Handicrafts and Handloom or any other body specified by Ministry of MSME are exempted from submission of Bid Security/Earnest Money provided they are registered for the items they intend to quote. ii) Documents Required to be submitted by MSEs : Micro or Small Enterprises (MSE) registered with District Industry Centers or Khadi and Village Industries Commission or Khadi and Village Industries Board or Coir Board or National Small Industries Corporation or Directorate of Handicrafts and Handloom or any other body specified by Ministry of MSME shall submit copy of valid Registration Certificate for the items they intend to quote along with the bid. The Registration Certificate should clearly indicate the monetary limit, if any and the items for which bidder are registered with any of the aforesaid agencies. In case bidding MSE is owned by Schedule Caste or Schedule Tribe entrepreneur, valid documentary evidence issued by the agency who has registered the bidder as MSE owned by SC/ST entrepreneur should also be enclosed. iii) Performance Security: Micro and Small Enterprises registered with District Industry Centres or Khadi and Village Industries Commission or Khadi and Village Industries Board or Coir Board or National Small Industries Corporation or Directorate of Handicrafts and Handloom or any other body specified by Ministry of MSME however, should note that Performance Security shall be required to be submitted by them for orders/contracts placed by CCIC on them. iv) Purchase Preference: - In tender, participating Micro and Small Enterprises quoting price within price band of L1+15% shall also be allowed to supply a portion of the requirement by bringing down their price to L1 price in a situation where L1 price is from someone other than an MSE and such MSEs shall be allowed to supply at least 20% of total tendered value. In case more than one such MSEs, the supply will be shared proportionately (to tendered quantity). In case of tender item is non-splitable or non-dividable, etc.: MSE quoting price within price band L1+15% may be awarded for full/complete supply of total tendered value to MSE, considering spirit of Public Procurement Policy, 2012 for enhancing the Govt. Procurement from MSE. Out of 25% target of annual procurement from MSEs, a sub target of 5% (i.e. 20% out of 25%) will be earmarked for procurement from MSEs owned by SC/ST entrepreneurs. However, in the event of failure of such MSEs to participate in the Tender Process or meet the tender requirements and the L1 price, the 5% sub- target for procurement earmarked for MSEs owned by SC/ST entrepreneurs will be met from other MSEs. 21 v) Definition of MSEs owned by SC/ST is as given under: (a) In case of proprietary MSE, proprietor(s) shall be SC/ST. (b) In case of partnership MSE, the SC/ST partners shall be holding at least 51% shares in the unit. (c) In case of Private Limited Companies, at least 51% share shall be held by SC/ST promoters. vi) In case a supplier (other than Micro/Small Enterprise) against an order placed by CCIC procures materials from their sub-vendor who is a Micro or Small Enterprise registered with District Industry Centres or Khadi and Village Industries Commission or Khadi and Village Industries Board or Coir Board or National Small Industries Corporation or Directorate of Handicrafts and Handloom or any other body specified by Ministry of MSME, with prior consent in writing from CCIC, the complete details (i.e. name of the subcontractor, value of sub-contacted work, copy of valid MSE registration certificate etc.) of the sub-contractor(s) shall be furnished by the supplier to CCIC. All other terms and condition of the tender will remain unchanged. (vii) 3% reservation for women owned MSEs within the above mentioned 25% reservation. 22 CENTRAL COTTAGE INDUSTRIES CORPORATION OF INDIA LIMITED JAWAHAR VYAPAR BHAWAN, JANPATH, NEW DELHI-110001 Mandate for payment through NEFT / RTGS (Please use capital letters only) 1. Name of the party / firm 2. Party Registered Address 3. Contact No. 4. Email ID 5. PAN 6. Aadhar Number 7. Name of Bank Account Holder / Firm 8. Bank A/C No. 9. Bank Name 10. Branch Code/ Address 11. IFSC Code 12. MICR Code 1. Cancelled cheque of above mentioned account and Copy of Pan Card must be enclosed. 2. I hereby declare that particulars given above Point No.1 to 12 are correct and complete, if the transaction is delayed or not effect at all for reason of incomplete of incorrect information, I would not hold the CCIC OF INDIA LTD. responsible. 3. I also undertake that I shall inform any changes in my bank account particulars in future to CCIC failing which payment shall continue to be made as details to CCIC by me, for which CCIC shall not be held responsible. 4. Certified that the particular furnished above are correct as per knowledge. __________________ Date: __________________ (Signature of party) 23 Signature Not Verified Digitally signed by MANISH SINGH Date: 2019.12.05 17:44:52 IST Location: eProcure-EPROC
Home | About Us | Terms and Conditions | Contact Us | PPE Kit SITRA Approved | PPE Safety Kit
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting