TIRUMALA TIRUPATI DEVASTHANAMS: TIRUPATI
Request For Proposal
On behalf of the Executive Officer, T.T.Devasthanams, Tirupati sealed
R.F.P.s are invited by the Office of the Chief Audit Officer, TTD, Tirupati for
availing the services of Chartered Accounting Firms for undertaking Internal
Audit activities of TTD on contract basis, for a period of one year renewable if
required on yearly basis on evaluation by TTD and in any case not exceeding
three years.
Essential criteria to be fulfilled:-
a) The Firms must have enrolled their Head office in one of the southern
states. The firms having their Head office located in a state other than
Andhra Pradesh and Telangana, should have their Branch office in one
of the States of Andhra Pradesh and Telangana.
b) The Chartered Accounting Firm should have a minimum of 20 (Twenty)
years of standing in practice.
c) The Chartered Accounting Firm (here in after referred to as Firm) should
have minimum 10(Ten) partners as on 1.1.2020 with relevant audit
experience. Of the total number of partners, at least Three partners of
the firm should have been continuously associated with the firm as
partner for a minimum of 15(Fifteen) Years and Two partners should
have been continuously associated with the firm as partner for a
minimum of 5 (Five) Years.
d) The applicant must have had the exposure to minimum 20 Government
audits (Statutory or Internal) of large entities out of which 3 entities
should have a gross revenue in excess of Rs. 500 crores., over the
preceding five financial years.( If in the case of audit of a branch/ division
of an entity, such branch/ division shall alone have turnover more than
Rs.500 crore)
e) The Firm must have minimum average gross receipts of at least Rs.500
Lakhs each in the last 3 years. The revenue consideration of the firm
should also include revenues from associate firms (including PAN INDIA
and OVERSEAS), provided the main firm holds/ controls a minimum of
70%. Both firm should have same line of activity only.
f) The Firm must have exposure of handling the audit of Non-profit
Organisation/ Institution and sound knowledge of statutory compliances
(Proof shall be enclosed).
g) The Firm must have empanelment with C&AG under approved firm to
do Major Audits Panel.
h) The Firm who have carried Internal Audit of TTD and any allied
Trusts/institutions in preceding three years are not eligible for applying
for this proposal.
i) If close relatives (parent or children) of any partner of the firm are
employed in TTD, the firm is not eligible to participate in the RFP.
Additional Conditions
a) All firms shall file an undertaking and declaration that they shall not
outsource or sublet the audit work allotted to them. If at any time such
instance of outsourcing comes to the knowledge of TTD, the services of
the firm shall be terminated forthwith.
b) Other than the approved protocols, no firm or its members shall seek
any favour from TTD either directly or through its staff which may
compromise their independence as internal auditor.
c) After appointment as internal auditor, if any disciplinary proceedings are
initiated against the firm by any regulator including NFRA or ICAI, the
firm shall stand disqualified and their services shall stand terminated
immediately.
d) Canvassing in any form to secure the appointment of internal auditor will
disqualify the firm in participating in any services of TTD and their
application will not be considered for further.
e) None of the partner at any stage should have been indicted for any
professional misconduct and no disciplinary proceedings should have
been initiated or pending against the partners by the ICAI or any other
competent authority.
Scope of the Work:
The Chartered Accountancy firm is expected to undertake the following:
1. Audit on Income and Expenditure and identification of leakages
2. Income, Expenditure, Stores, inventory and material reconciliation
3. Verification of all note files for evaluation of process
4. Audit of accounts w.r.t recording of transactions against the transactions
done at the institution level. Audit of transactions on the basis of
classification of heads of Income and expenditure account and balance
sheet.
5. Identification of Risk areas and its effect on financial transactions
6. Auditing and evaluation of missing internal controls
7. Comment over documentation procedure
8. Transactional analysis on the basis of data available for each type or mode
of transaction and exceptional issues
9. Performance audit
10. System sophistication and improvement measures and their helpfulness to
financial prudence.
11. Revelations of fraudulent , abnormal, suspectful and exceptional
transactions
12. Any other Audit assignment as given by the management from time to time
in relation to their area of work.
The selection process and Evaluation criteria for this work will be as
follows:
Firms which met the minimum criteria as mentioned above are evaluated
further as detailed below:
SCORING TERMS
Sl. Item Total
No. Score
1 Cumulative Years of Experience of partners in the firm who have 20
minimum 15(Fifteen) years & 5 years of experience in case of
each partner as on 01.01.2020. Partners, whose experience is
either outside of applicant firm or less than fifteen years in the said
firm, are not considered for scoring.
2 Total Revenue earned through Auditing and accounting Services 20
from companies, Trusts and Societies registered under relevant
Acts during the last three years. Revenue earned from other
clients and through services other than Accounting and Auditing
are not considered.
3 Total number of years of experience in Auditing Services that 20
includes Statutory/Internal/Tax audit in Government sectors
combined with coverage of number of Trusts and Non
Government sectors. The services with consultancy nature are not
considered.
4 Total number of organizations in which the firm audited 20
(Statutory/Internal ) during the last five years have the revenue
more than Rs. 500 cr.
5 Number of employees and Partners/employees with CISA/DISA 15
qualification.
6 Registration Number of C&AG empanelment with Major Audit 5
eligibility.
Total 100
Scoring Methodology:
The scoring methodology for the six scoring items listed above is as follows:
Sl. Item
No.
1 Cumulative experience of all partners above 75 years of standing should be
eligible for marking. 1 mark for every 5 years of cumulative standing
experience in the said firm of all partners subject to maximum of 20 marks. In
computing cumulative experience of partners, experience outside the applicant
audit firm as well as of those partners whose experience falls below 5 years
are excluded. Experience Details of each partner in the firm is to be given to
support value entered in this field.
2 The firms Revenue above Rs.500Lakhs should be eligible for marking. If firms
Revenue crosses the requirement of eligible criteria,. 1 mark for every Rs. 50
lakhs earning of the total revenue on the current year 2019 audited statement
subject to maximum of 20 marks. The firm showing the combined revenue of
branches and associates, the criteria of associate is required to be fulfilled. The
audited statement of Standalone and group consolidation is to be submitted.
3 The firm's experience of above 20 Government Sector organization including
Trust and NGOs experience should be eligible for marking. 1 Mark for every
Government sector experience or Trust/ NGO experience subject to maximum
of 20 marks.
4 The experience of firm conducting audit of 3 Large entities whose turnover
should be more than Rs.500 crores should be eligible for marking. 15 marks for
3 entities, 1 Mark for every additional entities subject to an overall maximum of
20 Marks.
5 The firm's employee strength more than 25 employees excluding partners
should be eligible for marking. If the firm crosses the requirements of eligible
number of employees then for every employee 0.5 marks will be up to a
maximum of 10 marks.
6 The firm's partner or employee having qualification in Technology enabled
audit should be marked with 2 Marks for every partner holding CISA/DISA and
1 mark for employees subject to a maximum of 5 Marks.
7 Registration Number of C&AG empanelment with Major Audit eligibility.(5
Marks)
Note: In all computation, the fractional values (i.e. fractional years of experience or value
below Rs. 10 lakhs or Rs. 1 lakh) are ignored.
Interested firms who have met eligible conditions need to submit their details
in the attached form and enclose relevant documents listed in the form.
Clarifications on the document submitted by the Firms can be called from them and
the same shall be furnished by them with in a stipulated time which shall not be more
than a week from the date of receipt of such clarification letter issued by TTD in any
form i.e., through speed post/ mail which is given by the applicant Firm in their
proposal document, whichever is earlier.
Fee for the Internal Auditing Services
The fee payable shall be as decided by the TTD during the selection process.
The interested CA Firms may obtain the R.F.P. documents can be obtained from
the O/o Chief Audit Officer, TTD, Tirupati 517 501 during the working hours from
10:30 AM to 5.00 PM on the dates give below or can be downloaded from the TTD
website www.tirumala.org. In case, any further information is required, the
applicants are requested to contact: The Chief Audit Officer, Room No. 79, II floor,
TTD Administrative Building, K.T.Road, Tirupati during office working hours.
R.F.P. Notice Vide Roc No :
Office of Issue : Office of the C.Au.O.,
Room No. 79, II floor,
TTD Administrative Building,
K.T.Road, Tirupati 517501.
Due date & time of Receipts of R.F.P. : 27/03/2020 up to 2.00 PM
Data & time of opening of R.F.P.s : 27/03/2020 @ 3.00 PM.
Venue for opening of R.F.P.s : Meeting Hall ,
T.T.D. Administrative Building,
K.T.Road, Tirupati 517501
TIRUMALA TIRUPATI DEVASTHANAMS: TIRUPATI
Request For Proposal for Internal Audit Services in
TTD
Part A: Basic Firm Details
1 Name of the Audit Firm
2 Address of Registered
Office
3 Address of the branch
office in South India (In
the case of firms whose
registered office is located
in North India.
4 Date of Registration of
Firm
5 Date of Registration at
C&AG for empanelment
6 Number of Partners
(please provide the details
of partners in Annexure 1)
7 Total Cumulative
experience of the eligible
partners as mentioned at
Sl.No.1 under the scoring
terms (please provide the
latest firm constituency
certificate issued by ICAI)
8 Total Number of
employees other than
partners as on 01/01/2020
and the expenditure
incurred on payment of
their salaries. ( Excluding
Article Assistants)
9 Number of Government
entities that are having
more than Rs.500 crores
of gross receipts and
audited by the applicant
firm.( If in the case of audit
of branch/ division of an
entity, such branch/
division shall alone have
turnover more than
Rs.500 crore)
Part B: Scoring Details
Please enter the values on the following items which are used for
scoring. The values entered in this have to be accurate and support
document should be provided after shortlisting. Firms which provided
incorrect information shall be disqualified.
Sl. Item Enter your
No. value
1 Cumulative experience of all partners above 75 years of
standing should be eligible for marking. 1 mark for every 5
years of cumulative standing experience in the said firm of all
partners subject to maximum of 20 marks. In computing
cumulative experience of partners, experience outside the
applicant audit firm as well as of those partners whose
experience falls below 5 years are excluded. Experience
Details of each partner in the firm is to be given to support
value entered in this field.
2 The firms Revenue above Rs.500Lakhs should be eligible for
marking. If firms Revenue crosses the requirement of eligible
criteria,. 1 mark for every Rs. 50 lakhs earning of the total
revenue on the current year 2019 audited statement subject to
maximum of 20 marks. The firm showing the combined
revenue of branches and associates, the criteria of associate
is required to be fulfilled. The audited statement of Standalone
and group consolidation is to be submitted.
3 The firm's experience of above 20 Government Sector
organisation including Trust and NGOs experience should be
eligible for marking. 1 Mark for every Government sector
experience or Trust/ NGO experience subject to maximum of
20 marks.
4 The experience of firm conducting audit of 3 Large entities
whose turnover should be more than Rs.500 crores should be
eligible for marking. 15 marks for 3 entities, 1 Mark for every
additional entities subject to an overall maximum of 20 Marks.
5 The firm's employee strength more than 25 employees
excluding partners should be eligible for marking. If the firm
crosses the requirements of eligible number of employees
then for every employee 0.5 marks will be up to a maximum of
10 marks.
6 The firm's partner or employee having qualification in
Technology enabled audit should be marked with 2 Marks for
every partner holding CISA/DISA and 1 mark for employees
subject to a maximum of 5 Marks.
7 Registration Number of C&AG empanelment with Major Audit
eligibility(5 Marks). CAG Empanelment should be currently
valid
The CA firm shall furnish the following documents
(i) Certificate of Registration of firm / Certificate by ICAI.
(ii) Individual membership/ certificate of practice issued by ICAI.
(iii) Individual CISA/ DISA certificates of partners/ employees of the firm.
(iv) Relevant experience certificate for Accounting and Audit works handled.
(v) Last 3 years Audited Statements and Income Tax returns with
Acknowledgment of CA firms.
(vi) The CA firm shall furnish PAN number and GST Registration Number.
(vii) The CA firm shall submit the latest Firm constituency certificate.
(viii) C&AG registration for empanelment with major audit eligibility.
(ix) Copies of appointment letters issued by C&AG along with fee details
determined for each audit.
(x) Proofs of letters of appointment and agreements by Government
organizations/ Trusts/ NGOs for carrying out Statutory/ Internal/ Tax Audits.
GENERAL TERMS AND CONDITIONS OF THECONTRACT
1. The contract period will be for one year from the date of awarding of the
contract renewable if required on yearly basis on evaluation by TTD and in
any case not exceeding three years. Date of commencement of this
contract will be as per the schedule prescribed by the TTD.
2. Time is the essence of the contract and accordingly all endeavors should
be made to complete the work within the stipulated time and any extension
beyond the given date should be by way of proper approval.
3. Tirumala Tirupati Devasthanams being a religious Institution and a place of
public religious worship also having sub shrines, utsavams, mantapams,
tanks and other necessary appurtenant structures is desirous to have
personnel only from Hindu Community.
4. This Contract is a contract for execution of services and it shall be the
endeavour of the Chartered Accountancy Firm to provide the appropriate
personnel to execute the services and in case if the performance or
behavior of any personnel is not up to the expectation of TTD or found
inappropriate, the Firm shall replace the personnel immediately on the
intimation from TTD
5. Without the knowledge of the Chief Audit Officer, the person deployed for
this work should not be replaced and alternate arrangement should be
made within 24 hours in the absence of regular staff and their output
should match with the outputs given by regular personnel and should not
lead to day to day work getting affected.
6. TTD and Allied Trusts are having right to postpone or cancel the
assignment and/or shorten the extension of its duration if necessary.
However, every effort will be made to give early notice of such charges. In
the event of termination the amount shall be paid for the services
rendered for carrying out the assignment till the date of termination or parts
thereof, and any other information and documentation gathered under this
contract prior to the date of termination shall be handed over to TTD and
Allied Trusts.
7. The Chartered Accountancy Firm will be responsible for staff
compensation, employment liability, and insurance for the candidates
during this assignment. The Chartered Accountancy Firm may also
maintain comprehensive general liability insurance including contractual
liability coverage adequate to cover the indemnity of obligation against all
damages, cost and charges and expenses for injury to any person or
damage to any property arising out of, or in connection with, the services
which result from the fault of its staff.
8. The Chartered Accountant firm has to place one of its senior partners as
Incharge of the Internal Audit in TTD. Such Senior partner shall be
assisted by a team of minimum 5 Audit staff comprising of one CA qualified
person with three years of experience as Team head and at least two
members shall be with qualification of CA inter. The remaining members
shall be a graduate in Commerce and Accounting faculty.
9. The Chartered Accountancy Firm shall indemnify and hold harness
TTD and TTD and Allied Trusts against any/and all claims, demands
and/or judgments of any nature brought against TTD or TTD allied
Trusts arising out of the services by the consulting firm and its staff
under this contract. The obligation under this paragraph shall survive
even after the termination of this contract.
10. Obligation on the part of Service Provider: The Chartered Accountancy
Firm during the term of this contract and after its termination shall not
reveal any information or provide data directly or indirectly to any
agency. Any breach of this condition is liable to be sued in the
jurisdictional court of law and damages are chargeable as decided by
the TTD.
11. Prohibited Sub Contracting: The Chartered Accountancy Firm shall
not assign this contract to a sub contractor fully or any portion of it.
Further the contract or any part, shares or interest of the contract is not
to be transferred or assigned by the contractor directly to any person
whomsoever.
12. Disclosure of information: The Chartered Accountancy Firm also
agree that, all knowledge and information not within the public domain
which may be acquired during the carrying out of this contract, shall be
for all time and for all purpose, regarded as strictly confidential and
held in confidence, and shall not be directly or indirectly disclosed to
any person whatsoever, except with the written permission of TTD.
13. Payment: No advance payment of Fee will be made. Agreed Fee of
contract is valid during the currency of the contract. The renewal of
contract after one year will be based on evaluation by TTD. The
payments are made by TTD and Allied Trusts through online transfers.
The contractee chartered Accountant firm is responsible in discharging
all liabilities under various acts applicable to the transactions made by
it during the currency of this contract. All statutory liabilities shall be
born by the Chartered Accountancy firm only.
14. The payments will be processed only on submission of the Audit report
duly signed by the senior partner for every such and such period as
prescribed and after acceptance of such report by the TTD.
Documents required:
A) Periodical Bills
B) Periodical Audit report
The above documents required are not exhaustive and it is to be
specifically noted that without the above documents, the bills of the
firm shall not be processed by respective TTD and Allied Trust.
15. The Chartered Accountancy Firm shall be responsible for the payment
of wages, salary allowances and any statutory contributions on behalf
of the personnel employed and for others in pursuance of the contract
with TTD and Allied Trusts. The TTD and Allied Trusts are not liable on
this count. The agency shall also hold and renew such of the licenses,
registration, permit etc., and maintain/furnish such of the records as
may be required under any Law or relevant rules from time to time on
demand.
16. TTD reserves the right to give preference to any Agency in the interest
of the Organisation at any time before the acceptance of the R.F.P.
and the decision of the TTD is final and binding on R.F.P.s without any
recourse.
17. TTD reserves the right to charge any penalty or withhold payment for
any unsatisfactory service rendered by the agency without prejudice to
its other rights. The Chartered Accountancy Firm is further liable to
reimburse/compensate the respective TTD and Allied Trusts or third
party for any loss, damage, injury, harm etc., caused or arisen out of
the negligence, rashness or any other act of its personnel employed or
breach of contract. The order of the Executive Officer in this regard
under this clause is final. The Executive Officer may enhance or
reduce the penalty leviable or cancel the penalty.
18. TTD and Allied Trusts reserves the right to terminate/amend/modify the
contract without assigning any reason or advance notice to the
Chartered Accountancy Firm. Similarly, the terms of the R.F.P. may be
amended/modified by TTD and Allied Trusts, if necessary, to ensure
competitiveness and quality of service. The terms and conditions of the
contract include R.F.P. Rules specified in this document.
19. TTD reserves the right to add/delete/change/modify any or all the
conditions mentioned in the R.F.P. document including its annexures if
any and the said addition/deletion/changes/modifications can also be
incorporated in the agreement to be entered into with the R.F.P. at a
later date irrespective of R.F.P. conditions mentioned in the notice
inviting R.F.P. or in the R.F.P. document and further if required the
same can be incorporated in a form of codicil as the case may be and
the same will be binding on the contract without any recourse.
20. If the Chartered Accountancy Firm in the opinion of TTD and Allied
Trusts, fails or neglects to comply with any of the terms and conditions
of the contract or with any orders issued, then in such a case, TTD and
TTD allied Trusts shall without prejudice to any other right or remedies
under this contract as a right and be entitled to cancel the contract by
giving a notice in writing to the CA Firm without being liable to pay any
compensation for such cancellation.
21. Force Majeure: If, at any time, during the continuance of this
contract, the performance in whole or in part by either party of any
obligation under this contract is prevented or delayed by reasons of
any war or hostility, acts of the public enemy, civil commotion,
sabotage, fires, floods, explosions, epidemics, quarantine restrictions,
strikes, lockouts or act of God (hereinafter referred to as events)
provided notice of happenings of any such eventuality is given by
either party to the other within 21 days from the date of occurrence
thereof, neither Party shall by reason of such event be entitled to
terminate this contract nor shall either party have any claim for
damages against other in respect of such non-performance or delay in
performance, and deliveries under the contract shall be resumed as
soon as practicable after such an event come to an end or cease to
exist, and the decision of TTD and Allied Trusts as to whether the
deliveries have been so resumed or not shall be final and conclusive.
22. In the case of failure by the Chartered Accountancy Firm to take up the
work within the period specified. The Executive Officer, or any other
Officer authorised by him shall have the powers to reject such contract
and to engage any other Chartered Accountancy Firm and excess of
cost so incurred by the concerned officer, TTD, over the contract price
together with all charges and expenses attached to the provision of
service shall be recoverable from the failed Chartered Accountancy
Firm.
23. The interested Chartered Accountancy Firm shall submit the R.F.P.
duly signed in each and every page and should also mention that the
conditions of the R.F.P. are thoroughly studied by them and they are
agreeable to the conditions. Otherwise the R.F.P. will not be accepted.
24. In the event of any breach of agreement at any time by the audit, the
Contract will be terminated by the TTD without any compensation
payable to the firm. The contract may also be put to an end at any time
by the TTD, on giving (7) seven days notice to the Chartered
Accountancy Firm. Further any dispute arising will be subject to the
jurisdiction of courts of law at Tirupati only.
25. The participants for the sake of uniform comparison should not add
any condition in R.F.P and such of those R.F.P.s, which stipulate any
condition, are liable for rejection.
26. During the period of the contract, the prevailing Income Tax/ GST
(inclusive of surcharge on IT), Education cess on IT/GST and taxes as
applicable from time to time will be deducted from the gross payment
of each bill of the contract as per the applicable provisions of the
respective acts.
27. TTD and Allied Trusts reserves the right to reject any R.F.P. or any
items in the R.F.P. or all the R.F.P.s without assigning any reason
therefore.
28. TTD and Allied Trusts reserves the right to accept or reject any R.F.P.
and to cancel the process and to reject all R.F.P.s at any time prior to
the award of the contract without assigning any reasons and also
under no obligation to inform the affected bidders the ground of
acceptance or rejection of the same. In this regard, the decision of the
TTD Allied Trusts is final and binding on the CA Firms without any
recourse.
29. Further, it is to specifically be accepted by the CA firm when the R.F.P.
is filed before T.T. Devasthanams that the acceptance or rejection of
the R.F.P. by TTD and allied Trusts or methodology adopted by TTD
and allied Trusts in short- listing the Firms for the supply of R.F.P.
requirements shall not become a cause of Action or Ground for the
bidder to initiate any legal action before any Court or Courts of Law for
obtaining any order, Injection, direction etc., from the Hon'ble Court or
Courts to stall the proceedings in TTD .
30. It is specifically accepted by the Chartered Accountancy Firms that no
employee of the said firm shall under no circumstances be treated or
deemed to be an "Employee" of TTD OR TTD Allied Trusts and TTD
shall not have or be asked to or expected to accept or accepted any
responsibility or liabilities as an "Employer" to any of the employees of
the Chartered Accountancy Firm for the reason of making any payment
continuously or extending any facility under this contract.
I / We read and accept the above Terms and conditions of this proposal.
Place :
Date :
Authorised Signatory of the CA FIRM.
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