Expression of Interest
Empanelment of Internal Audit in MSEDCL
Dated:06/03/2020
Maharashtra State Electricity Distribution Company Limited a Government of Maharashtra
Undertaking, invites Expression of Interest (EoI) for Empanelment as Internal Auditors for the
period of three Financial Years 2020-21, 2021-22 and 2022-23 from Chartered Accountant /Cost
Accountant firms.
The format of application along with the selection criteria, Annexures specifying the Application
Format, General Terms and Conditions, Qualification Requirements for Empanelment as
Internal Auditor are available at www.mahadiscom.in. The same can be downloaded from
website.
Firms shall send their applications in the prescribed format latest by 05.04.2020 up to 5.30 p.m.in
sealed cover to
The Office of Chief General Manager (IA), Internal Audit Section, Ground Floor, Prakashgad,
MSEDCL, Plot No. G-9, Anant Kanekar Marg , Bandra (East), Mumbai 400051.
ANNEXURE-I
Application Form for Empanelment as Internal Auditor in MSEDCL
To,
The Chief General Manager (IA)
MSEDCL, Internal Audit Section,
Ground Floor, Prakashgad,
Plot No.G-9, Anant Kanekar Marg,
Bandra (E), Mumbai 400 051.
Self-certified
supporting
Sr. Particulars documents
No. required to be
submitted
along with this Form
Name of the Firm
1.
Firm Registration
Certificate under ICAI
Addresses of the Firm: Address:
/ICMAI
2. Registered Head Office
3. Firm Income Tax PAN No. Attach copy of PAN card
4. Firm GST No. Attach copy of
Registration Certificate
Registration No. with ICAI & ICMAI Firm Registration
5. Certificate issued by the
ICAI/ICMAI
No. of Years of Firm Existence & Membership Extract from
6. Date of establishment of Firm ICAI / ICMAI
Details of Partners along with As per enclosed Self Attested on
7. Professional Qualification format - letterhead of firm
& Experience (A) & (B)
Audit Experience of the Firm As per enclosed Copy of Experience
No. of audit assignments of format - Certificate
8. Internal /Statutory Audit of (C)
Corporate/ PSUs entities
(A) Details of Full Time Partners of the Firm (as on 06.03.2020)
Sr. Name of Member Whether Date of Professional Area of Relevant
No Partner ship No. FCA/ joining Qualifications key Experience
ACA/FC the firm expertise
MA/AC (full
MA etc. time)
[Documentary proof, as previously indicated, to be submitted]
(B) Details of Qualified & Semi-qualified Staff (including Articles etc)
(as on 06.03.2020)
Sr. Name of staff Duration of Professional Area of key Relevant
No Qualifications expertise Experience
Association
with the Firm
[Documentary proof, as previously indicated, to be submitted]
(C) No. of Internal Audit assignments including PSU Companies / Power Sector :
Name of Auditee
Organisation
Nature
No. of Internal Other
Financial of
Sr. No Audit than Remarks
Year Power Audit
assignments PSU PSU/
Sector
Power
Sector
1
2
3
4
5
Note:- Area of key expertise may please be supported by relevant
Certificates.
(D) The details of Branch Offices of firms shall be enclosed in following format :
E-mail Contact
Detail Address Of Name Of Concern
Sr.No Branch City of No. Branch
Branch Branch Incharge
Branch office
1
2
3
4
5
6
(E) Also, provide a brief description of the background of your firm for
empanelment. The brief description should include both functional and sectoral
experiences of the applicants. It should not exceed more than 2- pages.
(F) Declaration
I/We (Name of Firm) having office at (address) bearing Registration No. do hereby
solemnly state on oath that all the details mentioned herein above are true and correct. I/We have read
& understood the terms and conditions of Expression of Interest for empanelment of Internal Auditor
in MSEDCL as put up on the website of MSEDCL alongwith Annexures I to III and furnish the
aforementioned details in the prescribed Application form. We hereby confirm the acceptance of all
terms & conditions of EoI without any deviation.
For and on behalf of
Name of Firm :-
Registration No.:-
Name :-
Designation :-
Membership No. :-
Date :-
Place :-
Annexure-II
General Terms & Conditions for submission of proposal
1. Timely delivery of the application is the responsibility of CA / CMA firm. The
application should be sent on msedcleoi@gmail.com as well as hard copy within
prescribed time limit. Only e-mail offers will not be considered for evaluation of
empanelment.
2. Evaluation that whether CA / CMA firm possesses qualification criteria
would be done on the basis of the information / data / documentary
evidences provided by the CA / CMA Firms.
3. MSEDCL may at its discretion, seek from any or all CA / CMA Firm
clarification(s) on application submitted including technical
information, document and materials for empanelment.
4 MSEDCL reserves the right to accept or reject any application in part or full
at any stage or may cancel the process entirely at its sole discretion without assigning
any reason whatsoever.
5. MSEDCL may issue clarifications/amendments in the form of addendum /
corrigendum during the empanelment period. CA / CMA Firms shall take such
addendum and corrigendum into consideration while submitting their
application. CA / CMA Firms are requested to visit MSEDCL's website from time to
time for any corrigendum/ addendum.
6 Any application received by MSEDCL after the scheduled closing date and time will
not be accepted.
7. Matter relating to any dispute or difference arising out of present EOI, and
subsequent contract based on the EOI shall be subject to exclusive
jurisdiction of courts at Mumbai only.
8. The proposal must be submitted in English language. All
documents, correspondences or any other written material in connection with this
work shall be in English language.
9. MSEDCL will examine the proposal/applications to determine whether they are
complete, whether any computational errors have been made, whether the
documents have been properly signed, and whether the EOI are generally in order.
10. The tenure of appointment shall be at the sole discretion of the MSEDCL. The tenure
may be renewed every year for a maximum of three Years at the sole discretion of the
MSEDCL. However, it is expressly stated here that the said tenure is not to be construed
as assured and the Company reserves the right not to reappointment at its sole discretion
without assigning any reason therefore.
11. Overwriting/correction/erase and/or use of white ink should be avoided in the proposal.
However, if any overwriting/correction/erase is inevitable, the same should be
authenticated with the signature & seal of authorised person of applicant firm.
12. Documentary evidence(s) in respect of all the information by the applicant firms
Must be furnished along with the proposal.
13. All the pages of the proposal document and documents submitted along -with the
proposal shall also be authenticated by the authorised signatory of the applicant firms
with the firms seal.
14. Compliances / Declarations /Certificates by firms on appointment:
The CA/CMA Firms have to comply with and furnish declarations and certificates as
required under Statutory/Company rules, upon appointment as Internal Auditors, as
under:
a. The CA/CMA Firm shall not sub-contract the Internal Audit work.
b. The Internal Audit team will work in strict confidence and will ensure that all the
data and any other information in respect of the operation of the location/ work
centre /Company is dealt within strict confidence and secrecy. A certificate towards
maintaining confidentiality shall be provided by the Internal Auditors on receipt
of appointment letter from the Company or before commencement of Internal
Audit.
c. No partner of the CA/CMA firm should be related to either Managing
Director or any Whole Time Directors or Part Time Directors of the
Company within the meaning of section 6 of the Companies Act, 1956,
d. Neither the audit firm nor its partner(s) or associates should have any interest
in the business of the Company,
15. This EOI is only for the purpose of empanelment of Firms and does not guarantee/assure
allotment of Internal Audit/any other assignments.
16. Empanelled firms will be intimated about the decision on empanelment.
17. MSEDCL reserves its right to accept or reject any applications without assigning any
reason thereof. The decision of MSEDCL for empanelment of Firms shall be final
and binding upon the firms participating in the process of empanelment.
18. Assignment of work in subsequent years during empanelment team will be made
subject to satisfactory performance.
19. If progress/performance of the audit team is not found satisfactory, MSEDCL's
management reserves the right to terminate the appointment of the Firm at any point of
time.
20. The Audit Firm will be debarred from getting, in future, Internal Audit
assignments in MSEDCL in the following cases:
a. If the firm obtains the appointment on the basis of misrepresentation of
information / misstatement of facts at the time of submission of application /
documents along with EOI.
b. The Audit Firm is found to have sub-contracted the work.
c. If the Firm does not take up audit in terms of the appointment letter.
d. If the Firm does not submit the Audit Report, complete in all respects as per terms of
the appointment.
e. If the Firm refuses to take up the assignment after submitting of acceptance.
f. If the Firm fails to maintain/honour confidentiality and secrecy of the
Company's information.
21. In case of any dispute on any issue arising before commencement of/during execution
of the contract, an amicable solution may be arrived at with discussion. However, in
case of any dispute remaining unresolved, the decision of the Chief General Manager
(IA) will be final and binding on both the parties.
22. Proposals without the required documentary evidence(s) shall not be considered for
evaluation.
23. The proposal should be submitted strictly as per the terms & conditions laid down in
the document.
24. The concern Partner/Proprietor and staff should have working knowledge of Marathi.
Qualifying Requirement of Audit Firms - ANNEXURE-III
1. The Audit firm should be registered with the Institute of Chartered Accountants of India
(ICAI)/The Institute of Cost Accountants of India.(ICMAI)
2. The Audit Firm should be proprietor/Partnership/Limited Liability Partnership;
3. The Audit firm should have Existence of minimum 5 years.
4. The registered Head office of Audit firm should be located in Maharashtra.
5. The experience criteria are as follows. The Audit firm shall possess :
i. A minimum Internal Audit Experience of 5 years or
ii.A minimum Internal Audit experience of PSU's in Power Sector of at least for 3
years.
6. The Audit firm should have minimum 5 nos. of qualified audit staff.
7. The Staff member/proprietor/Partner of the Audit Firm should have adequate expertise
and experience in Data Analysis/Data extraction/Data mining by using Computer-based
auditing tools.
8. The staff member/proprietor / partner should have knowledge of SAP.
9. The audit firm/any of its partners/proprietor should not face any of the following
disqualifications
a. The proprietor or any partner or firm is cautioned or any action is taken against the
proprietor or any partner or firm by ICAI/ICMAI.
b. There is any court/arbitration/disciplinary case pending against the firm or its partners
or proprietor or taken against the firm or its partners or proprietor; or
c. Any action/disqualification by Government Co. /Govt. Body/Govt. Authority relating to
financial transactions only.
d. The firm and its Partners should not have been currently debarred by MSEDCL/
MSPGCL/MSETCL or debarred by any other PSU or ICAI/ICMAI due to poor
performance/breach of agreement/misconduct during last 5 years.
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