INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
No. IIT/ KGP/F&A/IA/2019/01 31st July 2019
EXPRESSION OF INTEREST (EOI) FOR APPOINTMENT OF FIRM FOR CONDUCTING INTERNAL
AUDIT OF INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR FOR THE FINANCIAL YEAR 2019-20
INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
Kharagpur- 721 302, Dist. Paschim Medinipur,
West Bengal, INDIA
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
INVITATION OF EXPRESSION OF INTEREST (EOI) FOR CONDUCTING INTERNAL AUDIT
OF INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR FOR THE FINANCIAL YEAR
2019-20
Indian Institute of Technology Kharagpur(IIT Kharagpur) invites Expression of Interest (EOI)
from CA/ COST Firms for conducting Internal Audit of IIT Kharagpur for the F.Y. 2019-20. Details
are available on IIT Kharagpur's Website at http://www.iitkgp.ac.in . The last date for
submission of EOI is 21st August 2019 upto 15:30 hours.
Registrar
st
31 July, 2019
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
Table of Contents
Para No. Clause Particulars Page
No.
1 Bio-Data Sheet 4
2 Terms of Reference
2.1 Background 5
2.2 Scope of Works 6-9
2.3 Duration of Contract 10
2.4 Support and Inputs to the Firm 10
2.5 Minimum Eligibility Criteria 10-11
2.6 Payment Terms 11
2.7 Performance Security 11-12
2.8 Acceptance of EOI & Withdrawals 12
3 Submission and Evaluation of EOI & Others
3.1 Submission of EOI 12
3.2 Earnest Money Deposit (EMD) 12-13
3.3 Pre-EOI Meeting 13
3.4 Last Date of Submission of EOI 13
3.5 Date of Opening of EOI 13
3.6 Short listing Criteria 13
3.7 Evaluation Criteria for obtaining Financial Bids 14
3.8 Evaluation of Financial Proposal 14
3.9 Other General Terms and Conditions 14-15
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
1. Bid-Data Sheet
EOI Number: No. IIT/ KGP/F&A/IA/2019/01
Date: 31st July 2019
Earnest Money Deposit (EMD) Rs. 1,25,000 (One lakhs twenty five thousand
only) by way of Demand draft in the name of
Registrar, Indian Institute of Technology,
Kharagpur, payable at KHARAGPUR should be
submitted along with the EOI
Issue of EOI Forms EOI Documents / forms can be Downloaded from
the Institute's website at http://www.iitkgp.ac.in
Last Date of Submission of EOI 21th August 2019 upto 15:30 hours
Opening of EOI 21th August 2019 at around 16.00 hours
Pre-EOI Meeting 13th August 2019 at around 15:30 hours
Contact Person The Registrar
Indian Institute of Technology, Kharagpur
Kharagpur- 721 302, Dist. Paschim Medinipur,
West Bengal, INDIA
Contact Address Indian Institute of Technology, Kharagpur
Kharagpur- 721 302, Dist. Paschim Medinipur,
West Bengal, INDIA
Contact Phone Number (s) 03222282022/24/150
E-mail Address
Website http://www.iitkgp.ac.in
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
2) TERMS OF REFERENCE
2.1 BACKGROUND:
The Indian Institute of Technology, Kharagpur (IIT Kharagpur) is set up by the Act of Parliament
called "The Indian Institute of Technology Act 1961".
IIT KHARAGPUR is maintaining its accounts on Accrual Basis following the applicable Indian
Accounting Standards/ MHRD's guidelines. The expenditure of the Institute is attributed to two
major heads- Recurring and Non-Recurring. Mainly the expenditure related to construction
works, purchase of equipments and books etc. are booked under Non-recurring head and
expenditure of recurring nature like salary, maintenance etc. are booked under recurring heads.
Both Recurring and Non-Recurring expenditure are further subdivided into different sub-heads
as per the nature of the expenditure.
The accounts of the Institute are prepared as per the prescribed Format of Accounts of Central
Educational Institutions (CEIs).
Most of the payments like salary, reimbursements, scholarships etc. made to the employees/
students of the Institute are done by directly transferring the money to the respective bank
accounts. Payments to the vendors and contractors are made by cheque or electronic transfer.
Receipts on account of student admission are directly received in banks through "Payment
Gateways". The Accounts are maintained under ERP system developed by the Institute. All
records are also kept under ERP system.
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
2.2 SCOPE OF WORKS
2.2.1 Review of the existing Internal Control System:
(i) Determine whether the existing system of controls is in harmony with the structure of the
Institute. As far as possible keeping the controls within the operating functions acts as a
cost effective measure
(ii) Review each control and analyze them in terms of costs and benefits
(iii) Review the reliability and integrity of financial and operating information and the means
used to identify measure, classify, and report such information;
(iv) Review the systems established to ensure compliance with those policies, plans,
procedures, laws, and regulations which could have a significant impact on operations and
reports, and should determine whether the Institute is in compliance;
(v) Review the means of safeguarding assets and, as appropriate, verify the existence of such
assets. The objective of the Internal Auditor is to ensure that assets are reasonably and
adequately protected against loss and that they are properly managed and accounted for.
The safeguard of assets should not be restricted to mere pilferage but physical threats like
fire, water, electricity, etc
2.2.2 Review of Works Contracts by following General Financial Rule (GFR) 2017:
(i) Review of the system for awarding contracts including preparation of estimates, fixation and
evaluation of pre qualification criteria, procedure followed in circulation of NIT, opening of
Tender bids and receipt of EMD etc.
(ii) Review of procedures followed in tender evaluation, preparation of comparative
statements.
(iii) Checking of the documents/statutory registration documents/financials submitted by
contractors.
(iv) Checking of payments made to contractors as per terms and conditions of the contract,
supporting documents, adjustment of advance, TDS. Measurements Books , deduction of
LD, final payments, contract closure.
(v) Review of the system for issuing Project Authority certificates.
(vi) Checking of accounting made in respect of WIP and capitalization.
(vii) Checking of internal control systems being followed in project execution in respect of works
contracts.
(viii) Review of outstanding security deposits/retention moneys/liabilities to be settled, age wise
analysis of entries outstanding
2.2.2.1 Extent of checking in respect of Works Contracts:
i) Contracts of value above Rs.500 lakh - 100%
ii) Contracts between Rs.100 Lakh to 500 Lakh - 50%
iii) Contracts below Rs. 100 lakhs - 20%
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
2.2.3 Review of procurement of material/invoices by following General Financial Rule (GFR) 2017:
(i) Review of the system for Purchase Requirements and procedure followed in issue of NIT and
opening of bids, comparative statements and selection of vendors.
(ii) Life Cycle costing approach followed properly before initiation of procurement of equipments
etc.
(iii) Checking of rate contract, Purchase Orders placed on vendors for procurement of
Material/Services etc.
(iv) Checking of payments made to vendors with reference to Purchase Order terms, other
supporting documents, adjustment of advances, deductions for shortage/damage, statutory
deductions, L.D. etc.
(v) Justification and approval from competent authority for variations in the quantity, payment
terms, and delivery schedule etc.
2.2.3.1 Extent of checking in respect of Procurement:
(a) Purchase Orders of value above Rs.25 lakh - 100 %
(b) Purchase Orders value between Rs.1 Lakh to 25 Lakhs- 50 %
(c) Purchase Orders value below Rs.0.25 Lakhs 75 %
2.2.4 HR & Personnel:
(i) Review of leave, LTC Records
(ii) Review of Employee master records maintained and updated under ERP system on regular
basis
(iii) Review of Pensioner master records maintained and updated under ERP system on regular
basis
(iv) Statutory deductions of EPF, ESI ,etc for outsourced Manpower are correctly deposited by
the contractor
2.2. 5 Inventory Management:
(i) Review of stores ledgers maintained, system of receipts, issue under ERP System/ Manual
Register.
(ii) Custody & Physical verification and valuation etc.
(iii) Inventory management
(iv) Disposal of surplus/scrap materials
2.2.6 Transport:
(i) Utilization of vehicles/log book maintained
(ii) Hiring of vehicles, log books
(iii) Checking of all collection made by transport section and deposit of the same to the Institute
Accounts in time.
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
2.2.7 Finance & Accounts:
(i) Checking of bank transaction and journal vouchers etc., at least 50% for the period.
(ii) Review of Account payable and Receivable
(iii) Checking of periodical Bank Reconciliation Statements
(iv) Checking of classification of expenditure under Object Head wise as per guideline of
MHRD/ GOI.
(v) Checking of Expenditure uploaded under (EAT) module of PRMS
(vi) Ledger scrutiny including sub-ledger, proper adjustments of the various outstanding etc.
(vii) Deposit of all statutory dues and filing of various reports and returns as per: -
(a) Income Tax Act, 1961.
(b) International Taxation
(c) GST All returns matching with the books of accounts and compliance of statutory
provisions applicable under GST
(d)Verification of secured and unsecured advances
(e) Verification and classification of assets created through Higher Education Funding Agency
(HEFA) and its record.
(f) Review of internal control systems placed / in existence.
(g) Reviewing and checking for compliance of the accounting policies, Accounting Standards,
Guidelines issued by MHRD time to time.
(h) Review of the yearly accounts and submit the Review Report on Annual Accounts of the
Institute
2.2.8 Investment:
(i) Physical Verification of Investment Certificates
(ii) To obtain management confirmation and reconcile it with the Banks confirmation in the
form of certificates
(iii) To Check the Interest Income with the TDS certificates, Interest certificates, etc
(iv) To Check the Management Approvals for Investment in FD's like Boards Resolution or the
Delegation of Power
2.2.9 Fixed Assets:
(i) Check that approval from the competent authority is taken prior to the acquisition of fixed
Asset & the same is being recorded properly under ERP system.
(ii) Check that approval from competent authority is taken before disposal of fixed assets & the
same is being recorded properly under ERP system & fixed asset register.
(iii) Comment upon proper maintenance of records & internal control thereon
(iv) Comment upon system & its adequacy of physical verification of assets and ensure its
necessary financial treatment at the year end.
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
2.2.10 Estate Management:
(i) To check the collection of license fees in compliance with the Rules and Regulation of the
Institute.
(ii) All records relevant to the Estate are correctly recorded and updated at a regular intervals
(iii) To check the unauthorized occupancy and action initiated by the Management as per rule
2.2.11 General Provident Fund (GPF) , Contributory Provident Fund (CPF) NPS:
(i) Check the bank balance of the GPF and CPF
(ii) Match both balances and prepare reconciliation, if necessary and locate the reasons for
differences.
(iii) Obtain monthly contribution sheet of each members and check it thoroughly:
(a) Make sure every member's contribution is rightly posted in his accounts
(b) Check for similar names and compare their contributions
(c) Reconcile pay roll with the contribution sheets
(iv) Verify the permanent withdrawal and full and final settlement
(vi) Payables and expenses of GPF and CPF
(vii) Investments of the GPF and CPF Fund
2.2.12 Checking of outsourced service due diligence at IIT Kharagpur
Auditor should ascertain the level of due diligence of outsourced service done on back ground
checks of the person provided or handling the various jobs of the Institute apart from other
parameters of due diligence.
2.2.13 Compliance of Statutory Liabilities:
(i) Review of the different statutory registers & records are maintained as per GFR 2017.
(ii) Review & reporting about the Compliances of the decision made in Board meeting & Finance
Committee meeting, etc.
2.2.14 . Other matters:-
(i) Implementation of the decisions of Board of Governors, Finance Committee and Institute's
policies and procedure.
(ii) Review of contingent liabilities.
(iii) Examination of legal (Court) cases, their follow up/update status and proper accounting.
(iv) Examination of claims against Institute and their follow up/update status and proper
accounting.
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
2.3 DURATION OF CONTRACT:
The firm will be required to provide the desired services initially for a period of One year i.e. for
the FY 2019-2020 which can be renewed for another two years , subject to satisfactory
performance. Notwithstanding anything contained herein above, the Institute reserves the right to
discontinue the services of firm in the event their services are evaluated as unsatisfactory at any
time during the period.
2.4 SUPPORT AND INPUTS TO THE FIRM
The Institute shall provide adequate office space to the firm to perform its services. In terms of
hardware the Institute will provide computers and printers to the firm. The Institute will provide all
primary data to the firm for carrying out the jobs listed in the scope of work.
2.5 MINIMUM EILIGIBILITY CRITERIA
(i) The Consultant (Audit firm) shall be independent of the entity to be audited.
(ii) a) No partner of the audit firm or any qualified employee of the firm is related to any
officer of the Institute. Relative would mean husband, wife, brother or sister or any lineal
ascendant or descendant.
b) Neither the firm nor its partners or Associates have any interest in the business of IIT
Kharagpur.
c) From the time of appointment and for the one year after (to be counted from the date
of issue Internal Audit Report) the Firm ceases to be Internal Auditor, no other assignment of
any kind to the IIT Kharagpur will be accepted, either by the firm or by its partners or relatives
of partner of the firm or by its associates without permission of IIT Kharagpur.
d. The audit will not be done by a person who was either an employee in the IIT Kharagpur
or a partner/employee of the retiring auditor, unless such person is employed with the firm for
at least one year.
(iii) The Consultant (Audit firm) is not one against which disciplinary orders have been issued by the
Public Companies Accounting Oversight Board and these orders are in force.
(iv) . Also, any partner/senior manager of the audit firm is not associated with the audit in any
manner if he/she
a) has been found guilty of professional/other misconduct by the `Institute of Chartered
Accountants of India or the Institute of Cost Accountants of India; or
b) is one against whom disciplinary sanction orders have been passed by the Public
Companies Accounting Oversight Board.
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
(v) The Consultant (Audit firm) has experience in Internal Audit of at least 3 (three) PSU/ Govt.
Organizations during last five (5) years
(vi) Either the head office or a branch office of the Consultant (Audit firm) is located in the state of West
Bengal.
(vii) In support of meeting the Minimum Eligibility Criteria, the Consultant (Audit firm) submits
documentation as specified in the following table.
A self attested copy of the latest firm constitution certificate issued by the ICAI / ICWAI.
A Declaration signed by an authorized partner of the audit firm verifying that the applicant is
independent of the entity to be audited in terms of the parameters given in Criterion
A certificate from the audit firm to the effect that the firm is not one against which disciplinary
orders have been issued by the Public Companies Accounting Oversight Board and these orders
are in force
A certificate from the firm to the effect that no partner of the firm has been found guilty of
professional/other misconduct by the Institute of Chartered Accountants of India or The
Institute of Cost Accountant of India is one against whom disciplinary sanction orders have been
passed by the Public Companies Accounting Oversight Board. In case the firm has such partners,
the firm provides details of such partners and certifies that they will not be associated with the
audit in any manner.
2.6. PAYMENT TERMS
The payment shall be made against the services provided by firm as per the scope of works, subject to
the following terms and conditions:
(i) The Service Provider will raise the quarterly bills in duplicate on submission of the
quarterly final audit report to the Institute and acceptance of the same by the Institute.
(ii) Any increase in tax rates during the contract period will be borne by the Institute.
(iii) TDS under Income tax will be deducted at applicable rates.
(iv) The Institute reserves the right to deduct any amount from the bill as may be
considered reasonable for unsatisfactory services or delay in providing of services. The
decision of the Institute will be the final in this regard.
2.7 PERFORMANCE SECURITY
The successful bidder will be required to deposit 10% of the bid amount towards Performance
Security in the form of Demand Draft in the name of Registrar, Indian Institute of Technology,
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
Kharagpur, payable at KHARAGPUR with acceptance of the offer letter. No interest will be paid
on the Performance Security by the Institute.
2.8 ACCEPTANCE OF EOI & WITHDRAWALS: The right of final acceptance of the EOI is entirely vested
with the Director, IIT, KGP who reserves the right to accept or reject, any of the EOI in full or in parts
without assigning any reason whatsoever. There is no obligation on the part of IIT, KGP to
communicate with rejected bidders. After acceptance of the EOI, the bidder shall have no right to
withdraw his EOI. The EOI acceptance authority may also reject all the EOIs for reasons such as
change in scope of work, lack of anticipated financial resources, court orders, accident, calamities
etc. and other unforeseen circumstances
3 SUBMISSION AND EVALUATION OF THE EOI & OTHERS
3.1 SUBMISSION OF EOI
The interested firms meeting the Minimum eligibility criteria are required to submit their EOI in
sealed envelopes. The EOI should contain the following documents:
i) Minimum Qualification along with all prescribed formats duly filled in and all supporting
documents along with Earnest Money Deposit (EMD) of Rs.1,25,000 (Rupees one lakhs
twenty five thousand only)in the form of Demand Draft as mentioned in point 3.2 should be
kept in a separate envelope be superscripting " EOI"
ii) All the pages of the EOI document including all FORMATs and copy of certificates/documents
should be signed by the authorized person of the Firm along with seal of the firm.
iii) The envelope should be superscripted:
"EOI FOR SELECTION OF FIRM FOR CONDUCTING INTERNAL AUDIT OF IIT KHARAGPUR FOR
THE FINANCIAL YEAR 2019-20"
Submitted by: (Name, Address, E-mail and Telephone Number of the Firm)
Submitted To: The Registrar
Indian Institute of Technology, Kharagpur
Kharagpur- 721 302, Dist. Paschim Medinipur, West Bengal, INDIA
The Applicant can submit the EOI by registered post /courier/Speed post or submit the same in
person, so as to reach the designated address by the time and date stipulated. No delay in the
submission of the EOI for any reason will be entertained. Any EOI received by the Institute after the
deadline shall not be accepted.
3.2 EARNEST MONEY DEPOSIT (EMD) :
Earnest Money Deposit of Rs. 1,25,000 (One lakhs twenty five thousand only) by way of Demand
draft in the name of Registrar, Indian Institute of Technology, Kharagpur, payable at
KHARAGPUR should be submitted along with the EOI. The EMD amount will be returned to
unsuccessful firms after finalization of the EOI. In respect of the successful firm the EMD will be
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
returned after acceptance of the offer letter alongwith the performance security. No interest
will be paid on the Earnest Money Deposit.
3.3 PRE-EOI MEETING
A pre-bid conference will be held at 15:30 hours on 13th August, 2019 in the Committee Room of the
Institute. All eligible applicants are encouraged to attend the pre-EOI meeting. The corrigendum, if any
based on Pre-EOI meeting will only be available in the website of the Institute.
3.4 LAST DATE OF SUBMISSION OF EOI
Last date of submission of the EOI is 21st August 2019 up to 15.30. hours.
3.5 DATE OF OPENING OF EOI
The EOI will be opened for technical evaluation on 21st August 2019 at 16:00 hours in the
Committee Room of the Institute. The authorized representatives must carry authorization
letter to attend the bid opening.
3.6 SHORT LISTING CRITERIA
(i) Long standing of the Consultant (Audit firm) More than 10 years of existence. Date of
Constitution of the firm as evidenced from the firm constitution certificate issued by ICAI/
ICWA.
(ii) Turnover of the Consultant (Audit firm) for the last three financial years from audit and
assurance services. 200 lakhs and above
Self certified; the audit firm will provide the total turnover and the specified turnover.
"Specified Turnover" would mean the professional fee earned excluding GST etc and
travelling, if billed separately.
(iii) Experience of handling Internal Audit of at least 3 (three) PSU/ Govt. Organizations during
last five (5) years.
(iv) List of Partners with date of qualification and number of years of Post Qualification
Experience (PQE) with the firm supported by the latest firm constitution certificate issued by
ICAI/ ICWAI. At least one partner should be CISA qualified.
(v) Experience and Association of Qualified full time staff (being CAs or Cost Accountants).
(vi) List of full time staff with date of qualification and number of years of PQE with firm
supported by the latest firm constitution certificate issued by ICAI/ ICWAI. Documentation
showing the qualifications and experience of staff other than CAs/ Costs.
(vii) Locational Presence of the Consultant (Audit firm)in the state of West Bengal.
(viii) Latest firm constitution certificate issued by ICAI/ICWAI. Date of establishment of the
branch and name of Partner/CA/CMA qualified employee in charge of the firm.
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
3.7 EVALUATION CRITERIA FOR OBTAINING FINANCIAL BIDS:
(i) Firms, which meet the minimum eligibility criteria, would be taken up for detailed
evaluation. Each firm meeting the minimum eligibility criteria would be evaluated and
given score out of 100 marks.
(ii) The Method of Technical evaluation is exhibited in page 16.
(iii) Firm having technical score at least 80 marks out of 100 marks will be taken into
consideration for next round which will be a presentation not more than 15 minutes on
their company, expertise, experience, and Road map of Internal Audit based on scope of
work and will be evaluated by the committee
(iv) IIT Kharagpur shall obtain financial bid only from the shortlisted bidder/s after the
evaluation of technical criteria and presentation.
(v) Conditional EOIs other than the conditions mentioned in the EOI document will be liable
for rejection.
3.8 EVALUATION OF FINANCIAL PROPOSAL: Shortlisted firm quoting lowest price will be
declared as successful. However quoting of lowest price does not entitle the firm for award
of contract.
3.9 OTHER GENERAL TERMS AND CONDITIONS :
(i) EOIs received after the schedule date and time shall not be considered
(ii) The firm submitting EOI is required to sign all pages of the EOI Document
(iii) After selection of the firms as per the procedures as above, they will be intimated to their
registered address to accept the audit as per the scope of the work and the date of
commencement and completion of work in writing through registered letters. Within seven
days of receiving the offer letter they have to submit the acceptance letter to the Registrar,
Indian Institute of Technology Kharagpur, Kharagpur-721302, West Bengal, India. Failing
which their offer letter shall treated as cancelled and no further communication in this
regard will be entertained. The next best firm will be given the fresh offer letter.
(iv) After taking up the audit assignments they have to stick to the dead line stated in
the offer letter to complete the audit. Failing to complete the audit assignments
within the due date the authority reserves the right to cancel the assignment.
(v) If progress/ performance of the audit team is not satisfactory, the management
reserves the right to terminate the appointment of the Firm with 7 days prior
notice.
(vi) The Management reserves the right to seek any information/ clarifications related
to engagement at any time during the process of audit as per the requirement.
(vii) The Audit Firm is not permitted to sub-contract the work to any other firm.
(viii) They should keep themselves away from illegal & dishonest practices.
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
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(ix) The Internal Auditor shall have an obligation to work objectively and diligently
while performing duties
(x) The Audit Report should be inconformity with the""Scope of Work as indicated in
Annexure and Auditor may add more meaningful inputs depending on the findings
in the course of Audit
(xi) Settlement of Disputes:
It is incumbent upon the bidder to avoid litigation and disputes during the tenure of the
contract. However, if such disputes take place between the parties, efforts shall be made to
settle at the level of IIT, Kharagpur. The Bidder shall make request in writing to the Director
for settlement of any dispute within 30(thirty) days of arising of the cause of dispute failing
which no disputes/claims shall be entertained by IIT, Kharagpur. The decision of the
Director, IIT, Kharagpur will be final and binding on the parties. If differences still persist, the
settlement of the dispute may be sought in the court of law in Kolkata jurisdiction.
(xii) Jurisdiction: The Court of Kolkata in the State of West Bengal only will have the jurisdiction
to deal with and decide any legal matters or disputes what-so-ever arising out of this
contract
(xiii) DISCLAIMER : IT Kharagpur reserves the right to accept or reject any or all responses and to
request additional submission or clarification from one or more applicant(s) at any stage or
to cancel the process entirely without assigning any reason.
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
Technical Evaluation Criteria
Sl. No. Particulars Total Marks Allocation of
Marks
01 Firms Experience
a) Firm's Existence in years a
10 Years 15 years 5 1
> 15 Years 20 years 3
> 20 Years 5
b) Average Annual Income of the Firm (in the last 3
st
financial years) ending on 31 March 2018
Rs 200 Lakhs to Rs.500 Lakhs 15 5
> Rs.500 Lakhs and upto Rs.1000 Lakhs 10
Above Rs. 1000 Lakhs 15
c) Experience of handling Internal Audit of at least 3
PSU/ Govt. Organizations during last five (5) years
3 5 Organizations 10
> 510 Organizations 25 20
> 10 Organizations 25
d) Experience of handling similar work in Central
funded Educational Institutes/ Other Educational
Institutions/ Universities during last five (5) years
Experience Central funded Institute 5
5
Experience in other Govt. Educational Institution 3
Sub Total (01) 50
02. Key Experts and Manpower
a) Number of Partners' in the firm (at least eight)
8- 15 Partners 20 10
> 15 Partners 20
b) Number CISA Qualified Partners (at least one)
1-2 Partners 5 3
>2 Partners 5
C (i) Number of Full Time Qualified staff on the roll of
the Establishment
5- 10 Staff (Out of which at least 3 CA/CMA passed) 5
>10-20 Staff (Out of which at least 5 CA/CMA passed) 15 10
>20 Staff (Out of which at least 10 CA/CMA passed) 15
C(ii) Number of Full Time Semi Qualified staff on the roll
of the Establishment
5- 10 Staff (Out of which at least 3 semi qualified) 10 3
>10-20 Staff (Out of which at least 5 semi qualified) 7
>20 Staff (Out of which at least 10 semi qualified) 10
Sub Total (02) 50
03. Total Marks of Technical Evaluation (01+02) 100
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FORMAT-A
Sl. Criterion Firm's Strength & Capacity
No.
1. Name of the Firm
Address of the Firm
The firm should be based at
West Bengal/
Address of Branch at Kolkata
(Submit supporting
document regarding
address)
Name and address of the
authorized Official
Telephone No.
Mobile :
E-mail :
The Chartered Accountants/ Provide certificates from the ICAI
Cost Accountants firm / ICWAI of India
2. should have at least eight
partners;
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
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The Chartered Accountants/ If registered then mention
Cost Accountants firm Registration Number
3. should be registered with
the Institute of Chartered
Accountants of India/ The
Institute of Cost Accountants
of India. PAN of the firm
Firms must have Income
Tax Permanent Account
Number (PAN) and GST
Registration
GST Registration No.
(Provide all registration
certificates)
Year of Registration/
4. The firm should be in
operation for at least 10
years after its Registration
Starting of operation
Nos. of years in operation
5. Average Annual Income of Average Annual Income (i.e. Average Gross Professional Fees
the firm for the last 3 (three) received/earned) of the CA / Cost Firm in last 3 (three) years ending on
st st
years ending on 31 March, 31 March, 2018)
2018 must be equal to or
greater than Rs.200
Lakhs.[Provide copies of
the Audited Financial
Statements for all the 3
Page 18 of 27
INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
st
(Three) years upto 31 Rs.......................................(in figure)
March,2018 along with a
Certified in A-5 Format as
per annexure]
Rs. (in words) .........................................................
.........................................................
6. Experience of handling
Internal Audit of at least 3
PSU/ Govt. Organizations Nos. (in works)......................................
during last five (5) years
Nos. (in figure)......................................
7. Nos. (in words) ........................................
Experience of handling
similar work in Central Nos. (in figures) .......................................
funded Educational
Institutes/ Other
Educational Institutions/
Universities during last
five (5) years
8. Nos. of Payroll staff (Full
Time)/ Article ship
incumbent/Apprentices (if i) No. of Payroll staff (Full Time) :
any)
ii) Nos. of Article-ship incumbent :
iii) Nos. of Semi Qualified Staff :
Signature of Authorized Signatories of the Firm with Seal
Date:
Page 19 of 27
INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
Note: Copy of proof of various empanelments and proof of allocation of Audit assignments of the
banks mentioned above must be attached with the application.
Declaration:
1. We confirm that the information furnished herein are correct and fair in all respects and we
have the necessary documentary proof to substantiate the same. It is further confirmed that
in case any of the contents contained herein are found to be incorrect, Tourism Finance
Corporation of India Ltd. is free to initiate any appropriate action against us.
2. We further declare that there have been no adverse comments/ qualification on our
performance from the Management/Audit Committee.
Signature of Authorized Signatories of the Firm with Seal
Date:
Page 20 of 27
INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
FORMAT : B
Relevant information about the partners:
Sl. No. Name of Length of ACA / FCA/ CISA year Relevant Remarks
Partner Association ACMA FCMA Experience
with Firm year and year and
in years No. No.
Any other relevant information about the partners:
Signature of Authorized Signatories of the Firm with Seal
Date:
Page 21 of 27
INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
FORMAT: C
Details of Qualified Staff (Chartered Accountants/Cost Accountants)
(Please provide a self attested copy of Certified of ICAI / ICWAI for each qualified staff)
Sl. No. Name of Length of Educational Area of Membership No. Relevant
Staff Association Qualification Key Experience
with Firm Expertise
(in years)
Signature of Authorized Signatories of the Firm with Seal
Date:
Page 22 of 27
INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
FORMAT: D
Details of Semi Qualified Staff (Including Article, Clerks etc.)
Sl. No. Name of Length of Education Area of Key Relevant Remarks
Staff Association Qualification Expertise Experience
with the
Firm (in
years)
Semi Qualified Staff:
1
2
3
Article Clerks:
1
2
3
Others:
1
2
3
Signature of Authorized Signatories of the Firm with Seal
Date:
Page 23 of 27
INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
FORMAT : E
Experience of Internal Audit
Sl. No. Name of the Type / Nature Duration of Assignment Proof of the Letter of work
Organization of Assignment or assignment awarded by
the Organization
Signature of Authorized Signatories of the Firm with Seal
Date:
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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
FORMAT : F
Details of Firm's Professional Income
[Gross Professional Fees earned]
Particular Financial Year Financial Year Financial Year Average Annual
2015-2016 2016-2017 2017-2018 Income
Annual Income*
({ in Lakhs)
* Furnish the Audited Accounts of the Firm along with copy of the acknowledgement of Income Tax
return for the all 3 (three) years
Signature of Authorized Signatories of the Firm with Seal
Date:
Page 25 of 27
INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
FORMAT- G
Declaration of Confidentiality
Subject to conditions contained in this EOI, Firm shall take all necessary steps to safeguard he privacy
and confidentiality of any information about IIT Kharagpur during the audit and shall use its best
endeavours to secure that:
a) No person acting on behalf of Firm divulges or uses any such information except as may be
necessary in the course of providing services to IIT Kharagpur ;
b) No person seeks such information other than that is necessary for the purpose of internal
audit works as specified in the EOI; and
c) The Firm shall bind its employees to terms of confidentiality clause and shall take all action
reasonably necessary to secure the confidentiality of such information against theft, loss or
unauthorized disclosure.
This clause shall survive the termination or expiry of the assignment as Internal Auditor of IIT Kharagpur.
Signature of Authorized Signatories of the Firm with Seal
Date:
Page 26 of 27
INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR
KHARAGPUR- 721302, INDIA
FORMAT- H
Undertaking
I certify that the information provided in the above Expression of Interest forms is true to the best of my
knowledge. I also understand that any misleading or wrong information will disqualified this application
straightaway.
Signature of Authorized Signatories of the Firm with Seal
Date:
Page 27 of 27
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