WEST BENGAL STATE ELECTRICITY TRANSMISSION CO. LTD.
(A Govt. of West Bengal Enterprise)
CIN U40101WB2007SGC113474
RFP :- TCL/IA/RFP/2020/01
Office of the AGM (F&A), Internal Audit Department, WBSETCL
Invite Request for Proposal from Firm(s) of Chartered / Cost Accountant(s) for
empanelment to assist Internal Audit Department towards conductance of Internal Audit at
different units under WBSETCL
Address: Vidyut Bhavan, 9th Floor, `B' Block
Block-DJ, Sector-II, Bidhannagar,
Kolkata 700 091
Phone: 2359-8399/2319-7494
Website: www.wbsetcl.in
Email id: agmiawbsetcl@gmail.com
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WEST BENGAL STATE ELECTRICITY TRANSMISSION CO. LTD.
(A GOVT. OF WEST BENGAL ENTERPRISE)
Regd. Office: Vidyut Bhavan, Block-DJ, Sector-II, Bidhannagar, Kolkata 700 091,
Telephone No. 033 23598399, website: www.wbsetcl.in CIN: U40101WB2007SGC113474
RFP No. TCL/IA/RFP/2020/01 DATED: March 04, 2020
INVITATION FOR REQUEST FOR PROPOSAL FROM FIRM OF CHARTERED / COST
ACCOUNTANT(S) FOR EMPANELMENT TO ASSIST INTERNAL AUDIT DEPARTMENT
TOWARDS CONDUCTANCE OF INTERNAL AUDIT AT DIFFERENT UNITS UNDER
WBSETCL
West Bengal State Electricity Transmission Co. Ltd. (WBSETCL), a Govt. Of West Bengal
Enterprise, engaged in the business of transmission of electricity across the state of West Bengal
with annual turnover of around Rs. 1400 crore and having over 127 Auditable Units spread across
the state invites the Request for Proposal in two parts i.e. Technical (Part-I) and Financial (Part II)
from reputed Firm(s) of Chartered Accountant(s) /Cost Accountant(s) specialised in Internal Audit
preferably in Power Sector for empanelment to assist Internal Audit Department towards
conductance of Internal Audit of different units in the Company. The RFP documents embodying
details related to eligibility criteria, scope of the work and other instructions can be downloaded
from the website of the Company, i.e., www.wbsetcl.in.
The RFP document is to be submitted in the Office of the Office of the AGM(F&A), Internal Audit
Department, WBSETCL, Vidyut Bhavan, 9th Floor, `B' Block, Block-DJ, Sector-II, Bidhannagar,
Kolkata 700 091 latest by 19th of March, 2020 within 14.00 Hrs.
Sd/-
AGM (F&A), Internal Audit
WBSETCL
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DETAILED TERMS & CONDITION AND IMPORTANT DATES FOR INVITAION OF
REQUEST FOR PROPOSAL (RFP) FROM FIRMS OF CHARTERED / COST
ACCOUNTANT(S) FOR EMPANELMENT TO ASSIST INTERNAL AUDIT DEPARTMENT
TOWARDS CONDUCTANCE OF INTERNAL AUDIT AT DIFFERENT UNITS UNDER
WBSETCL
1. Schedule of date
Sr. No. Particulars Date/Time
1 Date of publication of RFP 04th March, 2020
2 Last date of submission of RFP in two
separate envelops; Part-I as Technical Bid & 19th March, 2020 / 14.00 Hrs
Part-II as Financial Bid.
3 BID Opening date for Technical part 19h March, 2020 / 16.00 Hrs*
4 Public Opening of Financial Proposals Will be communicated
*If the date mentioned above for opening of RFP is declared as a Government holiday or a holiday
declared under NI Act, the RFP will be opened on the next working day at the same time as mentioned
in the schedule.
2. Qualifying Criteria (Eligibility conditions)
S.N. Criteria Particulars Documents
Firms of Chartered Accountants,
1 Form of Entity Certificate of Incorporation
Cost Accountants
Tenure of
2 Minimum 5 Years Certificate of Incorporation
Establishment
Head /Branch Office should be situated in
3 Office the State of West Bengal Certificate of Incorporation
Certificate of Incorporation
Minimum 5(Five) full time whole-time
Certificate of Practice of all
working partner in the immediately
4 No of Partners Partners, Firm Registration
preceding three financial years and
Number and Date of
should be upto 31.03.2020
Establishment
Minimum 6 (Six) [(2 X 2=4) + (1+1)
Copies of Appointment letter
No of Qualified / extra] full time staff in the immediately
5
Semi-Qualified Staff preceding three financial years and
Documentary Evidence
should be upto 31.03.2020
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Audited Balance Sheet
Turnover o f Fi r m and Profit &Loss A/c OR
Minimum Average Annual turnover of
Income Expenditure A/c
6 (Professional Rs. 50 lakhs during last three financial and Receipt Payment A/c
Receipts) years. Return of Income Tax,
GST Returns
Minimum of 5 Audit Assignments in
total during last Five Financial Year (FY)
Experience excluding the FY of bidding preferably in Engagement Letter along
7 Power Sector. Same Assignment in One with terms of reference and
Corporation/ PSUs/ Limited Companies type of audit.
for more than 1 year will be considered
as one assignment only.
Valid PAN
Valid GSTIN Registration Copy of PAN Card
No Criminal Proceedings are pending Partnership Deed
w.r.t the Firm and/or Partner in any Copy of Registration
8 Other Certificate
Court of Law in India or before any
Disciplinary Committee of ICAI/ ICAI GSTN Certificate
( Erstwhile I C W A I )/ I C S I o r any Affidavit
other professional institutes/ bodies.
3. Evaluation Criteria and Process for Selection of Internal Auditor
A. Technical Evaluation:
Bids found to be substantially responsive after the preliminary scrutiny and fulfilment of the
minimum qualification criteria will be taken up for detailed evaluation. Criteria for evaluation of
technical have been specified in table below:-
Total
S.N. Criteria Marks over the Minimum Eligibility Supporting Documents
Marks
More than 5 and less than 10 Years: 2 Marks
Tenure of More than 10 years and less than 15 years: 5
Certificate of
1 Existence of Marks 10
Incorporation
Firm More than 15 years and less than 20 years: 7
Marks
Certificate of
Incorporation from ICAI/
1.5 Marks per FCA/FCMA
ICWAI
No of 1 Marks per ACA/ACMA
2 20
Partners Additional 1 Marks for qualification as DISA/
DISA/CISA Certificate
CISA
From ICAI for of
Individual Partner
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Total
S.N. Criteria Marks over the Minimum Eligibility Supporting Documents
Marks
1 Mark for each Qualified Copies of engagement/
Qualified
Staff Appointment letter & final
3 Personnel 5
Qualified Professional continuing for last 1 year pass certificate issued by
(Employee)
shall be considered the Institute.
Semi-
Qualified 0.5 Marks for each Semi-Qualified Staff
Personnel
4 Semi Qualified Professional continuing for last 5 Documentary Evidence
(Employee's
not 1 year shall be considered
Article's)
Certificate of
2 Marks per Branch in West Bengal and 1Mark
Incorporation/
5 Office per Branch outside West Bengal (Minimum one 5
approval from
branch in West Bengal is mandatory).
ICAI/ICWAI
Average Average Annual Turnover of last 3 immediately Audited Balance Sheet and
Annual preceding financial years Profit & Loss A/c OR
Turnover of Income Expenditure A/c
6 10
Firm Rs 50.00 lakh to Rs 100.00 lakh: 5 Marks and Receipt Payment A/c
(Professional Rs 100.01 lakh to Rs 200.00 lakh: 8 Marks Return of Income Tax
Receipts) More than Rs 200.00 lakh: 10 Marks GST Return
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Total
S.N. Criteria Marks over the Minimum Eligibility Supporting Documents
Marks
Audit Experience in Power Sector Utilities
having turnover of 50 crore or more.
4 Marks per Assignment.
The Experience of preceding 5 years shall only
be considered. Same Assignment in One
Corporation/ PSUs/ Limited Companies for
more than 1 year will be considered as one
assignment only. (Maximum 20 Marks)
1. Work Order, and
Audit Experience in Other Companies/
Corporation/ PSUs/ Limited Companies 2.Completion Certificate /
7 Experience 45
4 Marks per Assignment. Proof of Final Payment
The Experience of preceding 5 years shall only Received
be considered. Same Assignment in One
Corporation/ PSUs/ Limited Companies for
more than 1 year will be considered as one
assignment only. (Maximum 20 Marks)
Audit Experience in ERP Environment
1 Mark per Assignment.
The Experience of preceding 5 years shall only
be considered. (Maximum 5 Marks)
Total Marks= Tp (Score Technical) 100
All the bidder who fulfil minimum qualification i.e. 60% on technical evaluation will be declared
as technically qualified. The Financial Bids of only the technically qualified Applicants will be
opened for further processing.
Team requirements and projected minimum person days for the purpose of Financial
Proposal
The team composition will be of one Team Leader & one Team Member. The RFP shall
indicate only the projected minimum input person-days required for the entire assignment.
The table below sets out minimum team requirements and minimum projected person days:
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Sl Description of Experience Projected Remarks
Key Professionals Services to be Minimum no.
No provided of person days
required to
carry out the
whole
assignment
1 Partner Overall Sufficient expertise in 121 a) For Audit Assignment
coordination, & the area of Internal Comprising Area Office
planning, team Audit planning, and stores under its
leadership, execution and jurisdiction: - 1 person-
reporting, liaison reporting. day may be considered for
with Project Partner for finalisation of
Administrator & audit report from Office
Supervising and upto 2 person-day (for
officer. entire assignment) as per
Actual Site visit.
b) For Audit Assignment
at Head Quarter Units
and Field Zonal Office: -
1 person-day may be
considered for Partner for
finalisation of audit report
from Office and 1 person-
day (for entire assignment)
as per Actual Site visit.
2 Audit Responsibility to Qualified Chartered 733 a) For Audit Assignment
Team lead the audit Accountant / Cost Comprising Area Office
Leader teams in the field, Accountant/ Electrical and stores under its
planning and or I.T. Engineers / jurisdiction: - 5 person-
execution of the Certified Information day may be considered for
audits, discussion System Auditor Team Leader & Team
with head of (CISA) / Certified Member each for
office. Internal Auditor (CIA) performing Internal Audit
with at least 5 years in the Field i.r.o Store
experience in Internal units and the same is 10
audit/IT/IS/Energy person-day for Area Office
Audit as per Actual Site visit.
Experience in b) For Audit Assignment
procurement audit
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desirable and at Head Quarter Units: -
Ability to lead the 10 person-day may be
team and interact considered for Team
with senior level Leader & Team Member
Public Sector
each for performing
officials.
3 Team Field level audit Inter CA/Inter ICWA / 733 Internal Audit in the HQ
memb (including visits to Inter CS or persons as per Actual visit.
er various units). with graduation c) For Audit Assignment
(Science / Commerce/ at Field Zonal Office: - 3
(Audit Management) and
Assist person-day may be
having experience in considered for Team
ant) Internal Auditing for 5 Leader & Team Member
years. each for performing
Internal Audit in the FZO
units as per Actual visit.
N.B: 1) Actual person-days may vary up to (+ / -) 20% from the estimated person-days.
B. Financial Evaluation:
The lowest Financial Bid will be allotted a Financial Score of 100 marks. The Financial Score of
other Bidder(s) will be computed by measuring the respective financial bids against the lowest
proposal.
The formula for determining the Financial Score (Fp) is as below:
Fp = 100 x Fm/F
Where, Fm: Price of L-1 bidder &
F: Price of the concerned bidder
C. Computing the final ("T1-F1") Score:
Weights given to the Technical Bid (T) is 70 % and to the Financial Bid (F) is 30%
Final Score= 0.7xTp+ 0.3xFp
D. Selection Process:
The selection is based on QCBS model where in technical bid have 70 percent and financial
bids have 30 percent weight. The bidder who score maximum marks in technical and financial
evaluation mentioned above will be ranked `1st' and considered as eligible for Empanelment to
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assist Internal Audit Department towards conductance of Internal Audit at different units under
WBSETCL subject to fulfillment of contractual formalities. The ranking of other qualified
bidders will be assigned on the basis of QCBS score in descending order and one or more of
these Firm(s) of Chartered/Cost Accountants would be accordingly considered for
empanelment as per evaluation and review made by Screening Committee.
i) If same marks/rank obtained by two Firm(s) after combined evaluation then the proposal with
the highest technical score will be ranked higher and the next technical score will be ranked
lower.
ii) After the Final Ranking, the highest ranked Firm along with other selected Firm(s) may be
invited for Contract Negotiations (Financial), if required.
iii) The selected firms shall be issued a Letter of Engagement/Appointment by WBSETCL and,
upon acceptance of the same by such selected Firm, will be appointed as an Internal Auditor of
WBSETCL.
iv) Audit assignment will be done as per internal criteria that may be adopted by Screening
Committee in the most equitable manner.
v) The tenure of the engagement may be for a period of one year renewable on a year to year
basis upon satisfactory performance and subject to the approval of Audit Committee of
WBSETCL, up to a maximum period of three consecutive financial years. However, it is
expressly stated here that the said tenure is not to be construed as assurance for appointment and
the Company reserves the right to appoint any of the empanelled firm(s) at a stretch for 3 (three)
years or on yearly basis at its sole discretion without assigning any reason thereof. WBSETCL
reserve the right to cancel the empanelment any time before maximum period engagement i.e
the expiry of 3(three) years without assigning any reason thereof.
4. Scope of Work
Brief Scope of Work
Type of Job Description
The firm will be engaged for internal audit of around 127 units
(as per current status subject to further addition) out of which 27
no. of Area Office, 80 nos. of Nodal/sub divisional store, 12
nos. Auditable unit i.r.o HQ and 8 no. Field Zonal Office.
The following steps to be taken by the Internal Auditors while
conducting audit:
1) Preparation of the Audit Programme Sign off Checklist
giving details of the audit steps that were taken, the sample size,
observations, working paper reference number and other
Internal Audit relevant details.
2) Preparation of the Audit Programme ensuing
commensuration with adequacy of Internal Financial Control
Mechanism in place.
3) Check status of implementation of recommendation made in
previous Internal Audit (IA) reports, Reports of the Office of the
Comptroller and Accountant General of India, if any.
4) Concurrent progress adherence with regards to the status of
execution and audit closure before Project Administrator &
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Supervisor
5) Preparation of Internal Audit report along-with reporting on
Internal Financial Control by indicating probable development
path (if any) and other relevant details (Effectiveness and
Adequacy of existing control mechanisms).
5. Submission of RFP
a) The RFP is to be submitted in two parts viz Part-1: Technical Bid marked as "RFP for
Empanelment to assist Internal Audit Department towards conductance of Internal Audit at
different units under WBSETCL - PART-1" & Part-2: Professional Fees cum Price Bid
marked as "RFP for Empanelment to assist Internal Audit Department towards conductance of
Internal Audit at different units under WBSETCL - PART-2" separately by 19th February,
2020 up to 14.00 Hrs at t h e following address:
"Office of the AGM (F&A), Internal Audit Department, WBSETCL
West Bengal State Electricity Transmission Co. Ltd.
Vidhyut Bhavan, 9th Floor, `B' Block, Sector-II, Block-DJ, Bidhannagar, Kolkata
700091."
b) Prices quoted by the bidder shall remain valid for six months within which the
evaluation will be done. There will be no provision for escalation of the prices.
c) The quoted Professional Fees cum price Bid has to be written in figures as well
as in word. In the event of any difference, lower of the two prices would be considered.
d) All the sections of price offer are to be quoted and nothing should be left blank. If any
of the sections of the offer is left blank, then it will be considered as zero for evaluation.
6. Responsibility of Bidder
a) The timely delivery of the application is the responsibility of participant firm. The offer
shall have to be sent in sealed envelope by registered post/speed post/courier.
b) Before the last date for the receipt of RFP, WBSETCL may amend any of the RFP
conditions as may be desired if such an amendment is necessary and the same shall be
uploaded as a corrigendum and will be made available on the website www.wbsetcl.in.
Hence, the participants in RFP are advised to keep visiting the above website for any
updates in this regard.
c) The bidder is expected to examine and confirm to all instructions, forms, terms and
specifications in the RFP document before submission of RFP. Failure to furnish and / or
not complying with RFP conditions towards all the instructions, forms, terms and
specifications in the bidding document may be treated as non-responsive and result into
rejection of the RFP without seeking any clarification.
d) It shall be sole responsibility of the bidder to determine and satisfy themselves by such
means as they consider necessary or desirable for all matters pertaining to this RFP
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including, in particular, all factors that may affect the cost, duration and execution of the
work.
e) The bidder shall entirely & exclusively bear all costs and expenses associated with attending
Pre-RFP conference, discussions, presentations etc and providing any additional
information, development, preparation and submission of RFP Document. WBSETCL will,
in no case, shall be held liable for those costs and expenses regardless of the outcome of the
bid.
7. Language of RFP
The offer must be submitted in English language. All documents, correspondences or any
other written material in connection with this work shall be in English language.
8. Rejection of RFP
a) WBSETCL will examine the applications to determine whether they are complete, have
been properly signed, and whether the offer is generally in order. Any incomplete offer
shall not be entertained and rejected without assigning any reason thereof.
b) Any application received by W B S E T C L after the scheduled closing date and time
will not be accepted.
9. Formation of Cartel & Penal Measures
a) Any form of canvassing / lobbying / influencing etc. by the bidder / participant will result
into disqualification of such bidder.
b) Any evidence of unfair trade practices, including overcharging, price fixing, cartelization
etc, as defined in various statues, will automatically disqualify the bidder / participant.
c) Occurrence of such evidence shall be viewed seriously by WBSETCL authority and penal
measure as deemed fit; barring from present & future bidding process, along with referring the
matter to disciplinary committee of the respective Institute could be considered.
10. Project Administration
A. Project Administrator
The WBSETCL designates AGM (F&A) - IA as the Project Administrator; the Project
Administrator will co-ordinate all the activities under this engagement viz; acceptance and
approval of the reports and of other deliverables by the Company and receiving and approving
bills for payment.
B. Supervising Officer
The WBSETCL designates Asst. Manager (F&A) IA WBSETCL, as the Supervising Officer;
who will supervise the entire job, liaison with the Auditees, Partner of the Audit Firm and/or
Audit Team Leaders, as will be deputed by you for this work.
C. Reports
The reports shall be submitted in course of the assignment, and will constitute the basis for
payments. The Audit issues should first be directly discussed with the Auditee so that risks &
exposures from such Audit observations can be mitigated immediately. The following steps are
to be taken by the Internal Auditors while conducting an Audit:
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i) Conduct opening meetings with the process owners and document the discussions there at
in `MOM template'.
ii) Detailed understanding of the process, its documentation in the `documentation template'
and preparation of flow chart for the processes to be audited.
iii) Preparation of the Audit Program Sign off Checklist giving details of the audit steps that
were taken, the sample size, observations, working paper reference number and other
relevant details.
iv) IA execution as per audit checklists (Finance and Accounts & Stores management)
a) Conduct audit based on the checklist provided covering all the audit steps and
maintain the evidences for performance of all the audit steps.
b) Completion of the Program Signoff Checklist before leaving the site ensuring that
all the risks have been tested and the test results accurately reflect the status of
control.
c) Provide updates to Project Administrator for revising IA checklists in order to
incorporate the emerging risks and change in processes, if any
v) Check status of implementation of previous Internal Audit (IA) reports, if any
Review recommendations of previous IA reports not yet implemented the reasons for non-
implementation, further action plan with timeline & responsibility.
vi) Preparation and sharing of IA Issue Summary with the process owners
a) Prepare Issue Summary on the basis of audit observations in the format provided
b) Maintenance of supporting working papers
c) Process gaps/design deficiencies/non compliances must be noted on the Issue
Summary Sheet.
d) On-going sharing and discussion of Issue Summary with process owners (Auditee)
and agreement on action plan, timeline & responsibility.
e) Prepare draft audit report and send to the IA Department for the consideration of the
issues to be included or excluded in/from the Final Audit Report.
f) Obtain formal signoff from auditee on draft report and prepare and hand over to
Controlling Officer the final list of pending issues. Replies against such pending
issues should be collected within 10 days from completion of audit of the concerned
Unit. Otherwise "No comments" may be recorded on those pending issues.
vii) Ongoing updation of Project Administrator & Supervisor with regard to the status of
execution and audit closure.
viii) Preparation of IA report
Collate all observations from issue summaries and prepare an audit report in the prescribed
format complete with root causes, recommendations, auditee response/Management Comment
and agreed action plan. The final report should be submitted within the time frame as stated in
the clause "Reports", under sub clause (X).
ix) Submit complete report duly supported by Audit Program Signoff Checklist and working
papers (Original or photocopy) to the Project Administrator.
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a) Assist Project Administrator/ Supervising Officer in meetings with senior
management/ process owners/ auditees, wherever necessary.
b) Provide clarifications whenever/ wherever asked for.
x) The final report along with relevant annexures with monetary implication in support of the
instances cited against the issue raised by the auditors should be submitted within 15 days
of completion of audit of each respective Accounting Unit along with the sub-divisional
store units under its jurisdiction (wherever applicable).
xi) In case, the report submitted by the firm is found to be incomplete in respect of
supporting documents, or any deficiencies are found during review, the report will be
returned for correction. The revised report after inclusion of necessary documents
and/or rectification shall be resubmitted to the Internal Audit Department,
WBSETCL within seven working days.
To comply with the above, following formats/ templates will have to be submitted:-
Audit Programs / checklist.
Audit program signoff checklist (APSC).
Minutes of Meeting
Issue summary.
Audit Report.
N.B:- The total report along with all the above points shall have to be submitted both in a
Soft copy (in CD format) and in Hard Copy.
11. Performance Standard
The firm is expected to perform Services with the highest standards of professional and ethical
competence and integrity.
12. Confidentiality
During the tenure of this engagement and within three years after its expiration, you should not
disclose any proprietary or confidential information relating to the Services, this engagement or
WBSETCL'S business or operations without the prior written consent from the Authorities of
WBSETCL.
13. Dedicated Core Team
The firm should depute a Core Team Consisting of Partner, Audit Team Leader & Team Members.
The Members of the Core Team cannot be changed without written consent of the Project
Administrator. The CVs of the Core Team are to be submitted to the Project Administrator before
commencement of Audit in all circumstances. Each Team will consist of One Team Leader &
One Team Member.
Audit Team members & Audit Team leaders will be from your firm & you shall also designate one
Partner for overall co-ordination. Attendance certificate should be signed by both Team leader &
Team Member by inserting signature along with arrival time and departure time. The signature of
the In-charge of the Auditee office should be there in the attendance sheet along with official seal.
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14. Ownership Of Material
Any IA report, working papers, minutes of meetings or other material, graphic, software or
otherwise, prepared by you for WBSETCL under the engagement shall belong to and remains the
property of the WBSETCL. However the firm may retain a copy of such documents and software.
15. Schedule of Payments
i) Invoice for 100% of the Professional Fees, T.A, D.A, & other claims if any, should be
submitted after submission of final Audit Report. All the Invoices should be GST
compliant.The report should be submitted along with the Executive summary of the Critical
issues/ findings that require attention of the Senior Management. The Final Audit report should
be submitted in triplicate. A soft copy (In Compact Disc form) of the said Internal Audit
Report is also to be submitted at the time of submission of the hard copy of the same. Separate
invoices should be raised for fees for professional services and for reimbursement of T.A / D.A
etc.
ii) Payment will be made in Indian Rupees within 30 (Thirty) days from submission of bills
along with documents submitted by you provided all the necessary supporting are in order and
complete in all respect.
Payment Condition
i) The Bills should be submitted in triplicate complete in all respect.
ii) The tax invoices, for professional services i.r.o professional fees charged and TA/DA
claims made, should be submitted in triplicate (one in original and other two are in
photocopy) along with relevant supporting documents with each set .
iii) Original Vouchers should be raised against the Name of the team leader and/or team
member with date and properly signed there on.
iv) Any incompleteness and /or mistake/misrepresentation in supporting documents as well
as in the main body of the bill, will be subject to rectification if possible and found
necessary by the bill passing authority, WBSETCL, until which the payment shall not
be released against such bills.
v) The Audit Reports which will be submitted by the firm will be subject to review by the
Project Administrator and his team and if any deficiencies are found in the reports,the
same may be returned back to the firm for rectification. As such the payment will be
released to the firm only upon receipt of the revised audit report after rectification of the
deficiencies.
Paying Authority
The Paying Authority shall be Asstt. Manager (F&A), Establishment Corporate, Vidyut
Bhavan, 9th Floor, "B" Block, Kolkata-700091.
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16. Penalty
For delay in submission of reports beyond 15 days of completion of audit of each respective
Accounting Unit along with the sub-divisional store units under its jurisdiction (wherever
applicable), penalty will be imposed at the rate of 0.5 % of the professional fees payable for
such audit for every week or part thereof of delay, subject to a maximum deduction of 10 % of
professional fees w.r.t each audit.
17. Assignment
You will not be able to assign any part of the services as contained in this engagement to a third
party and Associates without the WBSETCL'S prior written consent.
18. General Terms & Conditions
a. All the sections of both; Part-1: Technical Bid & Part-2: Professional Fees cum Price
Bid has to be filled in. Any section left blank would be considered as zero for
evaluation. Please write "Not Applicable" wherever necessary.
b. Any RFP document submitted in a manner other than as set out in this RFP document
and / or attaching any condition shall not be treated as eligible and rejected in the
selection process.
c. This Request for Proposal (RFP) document has been prepared solely to enable
WBSETCL for framing Risk Based Internal Audit model for further strengthening
Internal Controls in the company. The RFP document is not a recommendation offer or
invitation to enter into a contract, agreement or other arrangement in respect of the
services.
d. Participation in this RFP in the form of a Consortium and/or Joint Venture is not
allowed.
e. No binding relationship will exist between any of the Bidders and the Company
until constitution of the contract.
f. The Internal Auditors engaged under this RFP will not be eligible to take-up any
other Job/Services/Work for the Company till the continuance of the engagement.
g. No preference based on size and geographical location will be considered for the
purpose of selection. All participants to the RFP will be treated with same status.
h. The Audit firm to be engaged as the Internal Auditor of the Company will not
render an attestation or assurance report or assurance report opinion under the
engagement, but may include:
i. An audit, review or examination of financial statements in accordance with
generally accepted accounting standards,
ii. An examination of prospective financial statements in accordance with
applicable professional standards,
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iii. A review to detect fraud or illegal acts
i. Non-solicitation of Personnel: - During the tenure of engagement and for subsequent
12 (twelve) months following its termination for any reason, the Audit firm will not
solicit for employment, or hire, any personnel of the Company. The Audit Firm,
including any Partner or other personnel in the firm will not solicit for a position on
the Company's Board of Directors, nor hire, any present professional employee of the
Company, if such solicitation, hiring or employment may impair the independence of
the Company under ANY other law, regulation, rule, listing requirement or
professional standards governing the independence of accountants. Without
limiting the foregoing, the Internal Auditors agrees not to solicit, hire or employ,
without the prior written consent of the Company, any present professionally qualified
employee of the Company.
j. The Company reserves the right to accept / reject any or all the RFPs without assigning
any reason whatsoever.
k. The Company reserves the right to request additional submissions or clarification
from one or more participant (s) at any stage or to cancel the process entirely at its
sole discretion without assigning any reason whatsoever.
l. The Company also does not bind itself to accept the lowest quotation.
m. Overwriting / corrections / erase and / or use of white ink shall not be accepted and the
offer shall be liable for rejection.
n. The application shall be signed by the person(s) on behalf of the organization having
necessary Authorization/ Power of Attorney to do so. Each page of the application
format, RFP document, testimonials and other documents shall be signed and copy of
Power of Attorney / Memorandum of Authorization shall also be furnished along with
application.
p. The RFP Proposal should be submitted strictly as per the terms & conditions laid down
in the document. Proposal should not contain any conditions other than the prescribed
ones. The proposal, which deviates from these terms and conditions, shall be liable to be
rejected.
q. The Offer in the prescribed Format together with all relevant documents and testimonials
must be submitted in physical form to the address as given above. Offers submitted in any
other form shall not be considered.
19. Dispute Resolution
a) Applicable Law: This engagement shall be governed by, and construed in accordance with,
the laws of India.
b) Notwithstanding the parties' agreement to arbitrate as set forth in this Engagement, either
party may bring a claim limited solely to injunctive relief to enforce its rights with respect to
the use or protection of (i) its confidential or proprietary information or materials, (ii) its
names, trademarks, service marks or logos, or (iii) the Reports, as applicable, solely in the
courts located in India, at KOLKATA.
c) Any dispute or claim arising out of or relating to the Services, this engagement or any other
services provided by you shall be resolved. Arbitration shall take place in India, at
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KOLKATA. Judgment on any arbitration award may be entered in court of Law at Kolkata
only.
20. Outputs that will be required of the Internal Auditors
The Firm should furnish Audit Reports to the AGM (F & A) - IA (the Project Administrator)
with an executive summary of the critical issues/ finding that requires attention of the senior
management. The report should be structured as per defined template in a manner giving the
observations/ weaknesses, the implications, root causes, suggestions for improvement and the
management comments. The status of the actions taken by the management on the
recommendations of the previous report should also be provided.
21. Access to Records
You will be given access to all legal documents entered into with the different Regulatory
authorities & others, Project Implementation Plan, books of account, guidelines, Procurement
Manual, Accounts Manual, Scheme books and any other information deemed necessary for
conducting Audits at different locations.
22. Force Majeure
a) In the event of either party to the engagement under this RFP being rendered
unable by Force Majeure to perform any obligation required to be performed by them,
the relative obligation of the party affected by such Force Majeure shall be
suspended for the period during which such cause lasts.
b) The term "Force Majeure as employed herein shall mean acts of God, War, Civil
Riots, Fire directly affecting the performance of the engagement, Flood and Acts &
Regulations of respective government of the either party to the engagement.
c) Upon the occurrence of such cause and upon its termination, the party alleging that
it has been rendered unable as aforesaid thereby, shall notify the other party in writing,
the beginning of the cause amounting to Force Majeure as also the ending of the said
clause by giving notice to the other party within 72 hours of the ending of the cause
respectively. If deliveries are suspended by Force Majeure conditions lasting for more
than 2 (two) months, the Company shall have the option of cancelling the engagement
in whole or part at his discretion without any liability at his part. Time for performance
of the relative obligation suspended by Force Majeure shall then stand extended by the
period for which such cause lasts.
23. Termination
The duration of this engagement shall remain valid up one year. During this tenure of
engagement if the Authorities of WBSETCL find that the services provided by you is not up to
the requirements of the Company, the competent authority may terminate this engagement by
giving 1 (one) Calendar Months' Notice to the Company. Subject to satisfactory
performance, the Audit Committee may consider renewal of the contract on the same
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term & conditions or with partial modification if necessary under the circumstances for a
further period of one year at a time.
24. In case of any queries pertaining to the RFP the participating firm may send email at
agmiawbsetcl@gmail.com. For any further clarification, the undersigned may be contacted at
033-23598399 / 23197494 during the business hour (10 A.M to 5 P.M).
25. Disqualifications
Firms falling under any of the following conditions would be liable for disqualification.
a. The Firm or any partner thereof has been cautioned or any action has been taken against the
Firm or any partner by the Chartered / Cost Accountants Institutes.
b. Any court case or arbitration relating to disciplinary case pending against the firm or any of
its partners/ designated partner.
c. Any disciplinary action / disqualification taken by any Government Company / Govt. Body /
Govt. Authority / State or Central govt. relating to any ground.
Further the Company reserves the right to cancel the empanelment / contract at any stage if the
firm falls under the conditions mentioned above at 25 (a) to (c) subsequent to its empanelment/
award of contract.
AGM (F&A),
Internal Audit Department
WBSETCL
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APPLICATION AND DECLARATION FORMAT:-
REQUEST FOR PROPOSAL FROM FIRM OF CHARTERED / COST ACCOUNTANT(S)
FOR EMPANELMENT TO ASSIST INTERNAL AUDIT DEPARTMENT TOWARDS
CONDUCTANCE OF INTERNAL AUDIT AT DIFFERENT UNITS UNDER WBSETCL
[on the letterhead of the firm]
Request For Proposal No.: TCL/IA/RFP/2020/01 DATED: 04th March, 2020
(1) Name of the Firm:
(2) Nature of the Firm (CA/CMA)
(3) R e g i s t e r e d Address with Contact Telephone No. and email*
(4) Name of the contact person and designation:
(4) Contact no. of the contact person with email:
*If the firm has registered address outside Kolkata then they are also required to provide the address
and contact details of the branch office located at Kolkata with contact details of the partner-in-charge
of Kolkata branch.
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Format of Declaration
Non Judicial Stamp Paper Rs. 10/- Duly Notarized
DECLARATION
I Sri ................................... on behalf of M/s. .................................................... do
hereby solemnly affirm as follows:
1. I along with my audit team have carefully perused the RFP in its totality
and understood its implication.
2. I along with my audit team have carefully examined the entire RFP and
having obtained all requisite information about the assignment. We do hereby
propose to provide the desired professional service as detailed in the RFP.
3. I along with my audit team accept the professional fees earmarked for
this assignment as stated in RFP and it should remain firm during the tenure
of the audit.
4. I along with my audit team do state that if WBSETCL sustains any damages or
loss as a result of negligence on our part, such loss or damages should be
mitigated by indemnifying WBSETCL without any preconditions and pretext.
5. I along with my audit team do declare that no criminal proceedings are
pending w.r.t. the firm and/or Partner in any Court of Law in India or before any
Disciplinary Committee of ICAI / ICAI (erstwhile ICWAI) /ICSI or any other
professional institutes / bodies.
Signature of the Authorized signatory
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(In the Letter Head of Firm)
REQUEST FOR PROPOSAL- Part-1 TECHNICAL BID
(PLEASE FILL THE FOLLOWING IN BLOCK LETTERS)
Particulars Details
1a. Name of the Firm.
1b. Date of establishment (in
dd/mm/yyyy format)
1c. Firm's Registration Number
1d. Address of the Firm (Head Office)
with contact details.
1e. Address of the Branch Office (if
any) with contact details.
1f. Nature of the Firm (CA/CMA)
2a. Total number of Partners(as on FY-2016-17 FY-2017-18 FY-2018-19
31st March of respective year)
2b. Details of Partners as on 31.03.2019 (enclose required documents in the manner as specified in the
RFP)
Full Name of the Partner Membership FCA/ DISA/ Date of admission as
number with ACA CISA Partner in the current
date firm (dd/mm/yyyy)
(dd/mm/yyyy)
3. Details of Semi- Qualified Staff (enclose required documents in the manner as specified in the RFP)
Full Name of the Staff Qualification Month of Date of appointment as
Qualification Employee in the current
(mm/yyyy) firm (dd/mm/yyyy)
4. Details of Qualified Staff (enclose required documents in the manner as specified in the RFP)
Full Name of the Staff Qualification Membership Date of appointment as
number with Employee in the current
date firm (dd/mm/yyyy)
(dd/mm/yyyy)
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5. Annual Turnover of the firm (in FY-2014-15 FY-2015-16 FY-2016-17 FY-2017-18 FY-2018-19
Rs and as per audited
financial statements &
Return of Income)
6a. Audit Experience in Other Companies/ Corporation/ PSUs/ Limited Companies (enclose required documents in
the manner as specified in the RFP)
Name of the Type of Date of Concerned Turnover Is the Auditee
Auditee Organisation engagement Financial of Organisation
Organization (please Year concerned engaged in Power
mention from Financial Distribution? (Yes /
most recent) Year No)
From To
6b. Audit Experience in Power Sector Utilities having turnover of 50 crore or more.(enclose required
documents in the manner as specified in the RFP)
Name of the Auditee Date of engagement Concerned Financial Turnover of concerned
Organization (please mention from Year Financial Year
most recent)
From To
7. PAN number of the Firm:
8. GST Registration number of the Firm:
9. Whether any criminal proceedings are pending w.r.t. the firm and/or Partner in any Court of
Law in India or before any Disciplinary Committee of ICAI / ICAI (erstwhile ICWAI) / ICSI
or any other professional institutes / bodies: YES/NO [Please Tick () appropriately]
10. List of documents uploaded attested with name & designation under common seal of the Firm.
Please Tick () appropriately:
a) Copy of Incorporation Certificate and / or Constitution Certificate by the institute YES / NO
b) Copy of Firms Registration Certificate YES / NO
c) Copy of Certificate of Membership (refer point 2 & 4 above) YES/ NO
d) Copy of Certificate of Practice of all the Partners (refer point 2 above) YES / NO
e) Copy of latest Certificate of Reconstitution of Firm (if any) YES/ NO
f) Copies of Qualification certificates of the fully qualified and semi qualified staff
(refer points 3 & 4 above) YES/NO
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g) Copies of Appointment letter issued to the fully qualified and semi qualified staff
(refer point 3 & 4 above) YES / NO
h) Copies of Audited Financial Statements
1. FY 2014 15 YES / NO
2. FY 2015 16 YES / NO
3. FY 2016 17 YES / NO
4. FY 2017 18 YES / NO
5. FY 2018 19 YES / NO
i) Copies of Income Tax Returns for the period
1. FY 2014 15 YES / NO
2. FY 2015 16 YES / NO
3. FY 2016 17 YES / NO
4. FY 2017 18 YES / NO
5. FY 2018 19 YES / NO
j) Copy of PAN card YES / NO
k) C o p y of GST Registration Certificate YES / NO
l) Affidavit in original (duly notarized in non-judicial stamp paper of Rs) in support
of no criminal proceedings are pending w.r.t. the firm and/or Partner in any Court of
Law in India or before any Disciplinary Committee of ICAI / ICAI (erstwhile ICWAI)
/ ICSI or any other professional institutes / bodies as per template in Section-3 of this RFP
(refer point 9 above) YES / NO
m) Copies of Engagement Letter along with terms of reference/ Work Order in support
of Internal Audit/ Statutory Audit experience of the firm (refer point 6 above) YES/NO
n) Copies of Certificate for Turnover from Auditee Organisation / Audited Financial
Statement of Auditee Organisation (refer point 6 above) YES/NO
o) Copy of work completion certificate/ proof of final payment received by the
Organisation (refer point 6 above) YES/NO
Date:
Place: (Signature of the authorized signatory with name
& designation under common seal of the Firm)
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REQUEST FOR PROPSAL- Part-2 PROFESSIONAL FEES CUM PRICE BID
(PLEASE FILL THE FOLLOWING IN BLOCK LETTERS)
Sl Key Professionals Projected Minimum Fees / Person-Day
no. of person days
No. required to carry out
the whole assignment
1 Partner
121
2 Audit Team 733
Leader
3 Team member
733
(Audit Assistant)
Note:
1) GST will be paid on actual basis. However present rate of applicable GST
may be indicated by the bidder.
2) The bidder is deemed to have thoroughly studied and examined
the technical specification, important instructions and general terms and
conditions of the tender documents and fully informed as to nature of the
work and conditions related to its performance.
Date:
Place:
(Signature of the authorized signatory with name
& designation under common seal of the Firm)
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