EXPRESSION OF INTEREST – BEL GHAZIABAD

BHARAT ELECTRONICS LIMITED
(A Public Sector Undertaking under the Ministry of Defence,

Government of India)

INVITATION FOR
EXPRESSION OF INTEREST (EOI)

FOR
“VOUCHING OF BILLS PAYABLE ACTIVITIES

- BEL GHAZIABAD
Last date for submission of EOI – 15.04.2021*

*now extended up to 30.04.2021

Issued by
BHARAT ELECTRONICS LIMITED
INTERNAL AUDIT Department

Site IV, Sahibabad Indl Area
Bharat Nagar Post

Ghaziabad 201 010

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EXPRESSION OF INTEREST – BEL GHAZIABAD

I. PREAMBLE

1. Bharat Electronics Limited (BEL), a Navratna Company, is a Govt. of India Undertaking
under the Ministry of Defence. It was set up in 1954 at Bangalore to make the country Self-
reliant in Defence Electronics. It has 9 units spread across the Country. BEL is a Listed
Company. BEL recorded a turnover of Rs 12,608 Crores during 2019-20. BEL is now India’s
foremost Defence Electronics Company. For more details, please visit www.bel-india.in.

The turnover of BEL Ghaziabad Unit for the FY 2020-21 is likely to be around Rs.2800
Crores. and for the FY 2021- 22 turnover is planned at Rs.2850 Crores

2. a) BEL is a multi-product, multi-technology, multi-Unit conglomerate having products in
the areas of Radars, Missile Systems, Military communications, Naval Systems, Electronic
Warfare & Avionics, C41 Systems, Electro Optics, Tank Electronics & Gun/Weapon System
Upgrade in the Defence Segment and the non-Defence segment include Homeland Security
& Smart Cities, Solar Satellite Integration & Space Electronics, Railways, Artificial
Intelligence, Cyber Security, Software as a Service, Energy Storage Products and Electronic
Voting Machines ( EVMs) besides Composite Shelters & Masts.

b) Central Research Laboratory (CRL) Ghaziabad: Carrying out blue sky research for
futuristic, cutting-edge research and development activities.

c) Regional Office (RO) - Delhi: Carrying out the liaison activities between the customer and
BEL including collection of bills, marketing activities.

3. BEL has diverse customers which include the Army, Navy, Air Force, Coast Guard,
Paramilitary Force, Police, PSUs,Central / State Government Departments and consumers
of professional electronic components.

4. BEL invites Expression of Interest (EOI) in the prescribed format for Engagement
of Chartered Accountant Firms/Cost Accountant Firms (hereinafter called ‘the Firm’)
who fulfil the eligibility criteria as mentioned hereunder and are willing to have their
firms engaged for conducting “Vouching of Bills Payable activities” as per the scope
of the work in BEL GHAZIABAD ”. The scope of vouching activities of BEL Ghaziabad
includes (a) BEL Ghaziabad Unit (b) CRL – Ghaziabad and (c) RO – Delhi.

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EXPRESSION OF INTEREST – BEL GHAZIABAD

The selected firm shall conduct the vouching activity including checking of internal controls
established in the Company. The interested firm shall submit the application in the
prescribed format as given in the “Annexure A” and “ Annexure B “ along with the
requisite documents on or before 15.04.2021 (now extended up to 30.04.2021) to the
email mentioned below :-

Email id: iabelgad@bel.co.in
Tel : 0120-28133781 and Fax : 0120-2771826

Note: Queries, if any, may be addressed to General Manager (Internal Audit) at iabelgad@bel.co.in,
gmiapa@bel.co.in /Tel: 0120-28133781, and 080-25039223 / Fax: 91-80-25039306 well before the due date.

II. TERMS OF CONTRACT FOR VOUCHING OF BILLS PAYABLE ACTIVITIES.

Nature of work: Vouching of Bills Payable – Payment documents. This is part of Internal
Audit function of BEL which is being outsourced.

Organisation/Unit: a) Bharat Electronics Limited, Ghaziabad Unit. b) CRL Ghaziabad c)
Regional Office (RO) Delhi.

BEL Ghaziabad Unit and Central Research laboratory (CRL) Ghaziabad located in
Ghaziabad and Regional office (RO) Delhi located in New Delhi. All these offices shall be
covered for vouching of bills payable activities.

Location of Audit Place (a): Bharat Electronics Limited, Site IV, Sahibabad Industrial Area,
Bharat Nagar Post. Ghaziabad – 201010
Location of Audit Place (b): Central Research laboratory, Bharat Electronics Limited, Site IV,
Sahibabad Industrial Area, Bharat Nagar Post. Ghaziabad - 201010
Location of Audit Place (c): Regional office- Delhi, Bharat Electronics Limited, ‘Chanderlok’
8th Floor, 36, Janpath, New Delhi-110001

Coverage of Audit Period 01.04.2021 to 31.03.2022 - This period may be renewed for one
more year on same terms based on satisfactory performance after necessary approvals of
BEL Management.

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EXPRESSION OF INTEREST – BEL GHAZIABAD

Contract Period: One year from the date of issue of Service Order i.e. covering vouching of
payment documents for the FY 2021-22.

III. INTERNAL CONTROL SYSTEM in BEL

i) BEL has a robust system of internal controls in place. It has documented policies and
procedures on Purchase, Sub-contract, Works contract, Accounting, HR, IT and Security,
Sub-delegation of Powers, etc. covering all financial and operating functions, and revised in
tune with the changing times. These controls have been designed to provide a reasonable
assurance with regard to maintaining of proper accounting controls for ensuring reliability of
financial reporting, monitoring of operations, and protecting assets from unauthorized use or
losses, compliance with regulations, etc. File Lifecycle Management (FLM) system for
procurement and other proposals has been implemented to ensure enhanced transparency
in every activity. Elaborate guidelines for preparation of accounts are followed consistently
for compliance with Indian Accounting Standards (IND AS) and Companies Act, 2013.
ii) BEL has implemented company-wide ERP systems with centralised deployment.
Governance Risks and Compliance (GRC) Access Control module has been implemented
as the primary means of addressing user access risks by embedding preventive rule based
checks while assigning authorisations to business transactions.
iii) Authorisations to users are given based on principles of Segregation of Duties and Least
Privilege. Risk rules have been configured in the system in several business processes like
Finance, Procure to Pay, Order to Cash, Material Management, HR and Payroll. Risk
analysis reports are regularly run to ensure that processes are under control. Additional
control in the form of biometric fingerprint authentication for critical transactions is also in
place. Audit logs for all changes in roles and authorisations are maintained.

IV. INTERNAL AUDIT
i) BEL has its own Internal Audit Department commensurate with the size of its operations,
with teams of professionally qualified personnel who conduct regular and comprehensive
internal audits to ensure that all checks and internal control systems are in place. Besides,
the Company has sub-committee of the Board viz. Audit Committee (AC) to keep a close
watch on compliance with Internal Control Systems. Also, being a Government Company,
BEL is subject to Audit by Comptroller & Auditor General of India (C&AG).
ii) BEL’s Internal Audit Teams are located at major manufacturing units (at BEL, Jalahalli,
Bangalore for South India based units and at BEL Ghaziabad Unit for North India based
units) Corporate Office of the Company which carry out audits as per risk-based Annual

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EXPRESSION OF INTEREST – BEL GHAZIABAD

Audit Programme approved by Audit Committee of the Board. All the Internal Audit teams
submit audit reports to their team leaders and after considering the Auditees’ replies / action
taken reports, team leaders submit reports of significant issues observed during audit to
Head of Internal Audit on periodical basis. Head of Internal Audit submits his/her reports to
Company’s Management at various levels for corrective actions and finally submits report to
the Audit Committee of Board indicating status of compliance with well-established internal
control systems of the Company and plan for mitigating the key risks associated with major
activities of the Company.
iii) BEL’s Internal Audit checks the adequacy and effectiveness of internal control system
through regular audits, system reviews, process reviews, data analytics, etc. and provides
assurance on compliance with the legal and regulatory requirements, and internal policies
and procedures of the company. Functioning of Internal Audit as well as Internal Control
systems are periodically reviewed by Board-level Audit Committee. The Audit Committee of
the Board of Directors, comprising Independent Directors, regularly reviews the audit plans,
significant audit findings, adequacy of internal controls, and compliance with accounting
standards and policies from time to time and issues directives for compliance to further
strengthen the internal control system keeping in view the dynamic environment in which the
Company is operating.

iv) The Company continues its efforts to align all its processes and controls with global best
practices, to assure the highest level of Corporate Governance.

V. Outsourcing of Vouching of Payments:
The selected firm shall conduct the vouching activity including checking of internal controls
established in the Company.

VI. OBJECTIVE OF VOUCHING OF BILLS PAYABLE ACTIVITIES.
The broad objectives of Vouching include the following:
1) To provide assurance regarding reliability of financial reporting
2) To ensure compliance with Company’s established systems and procedures
3) To ensure compliance with all applicable Laws & Regulations including availment of GST
input tax credits etc.
4) To ensure maintenance of adequate accounting records and documents (including
invoices for payments) in reasonable details.
5) To ensure that expenditures are being made only with authorizations of competent
authorities.

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EXPRESSION OF INTEREST – BEL GHAZIABAD

6) To provide reasonable assurance regarding prevention / timely detection of fraud and
other irregularities.

7) To provide suggestions for improvements in Internal Control system etc.
8) To ensure that payments made to the vendors/employees are in line with the agreed
terms and conditions, Company’s relevant rules and procedures etc.

VII SCOPE OF VOUCHING ACTIVITY IN BILLS PAYABLE AREA:

a) BEL Ghaziabad Unit consists of Strategic Business Units (SBUs) as listed
below:

Name of the SBUs:
1. Network Centric Systems ( NCS )
2. Radar
3. Central
4. Satellite & Cellular Communication Systems ( SCCS )
5. Antenna
6. Defence Command and Control Systems ( DCCS )

Bills Payable and Payrolls Areas for all the SBUs of BEL GAD are centralised in the
Finance Department of the Unit.

(b) The CRL Ghaziabad: Bills Payable and Payrolls area are located in CRL Ghaziabad.

(C) The Regional Office, New Delhi: Bills Payable and Payrolls area are located in
Regional Office, Delhi.

1. Vouching to be carried out on a Monthly / Quarterly basis.
2. The Audit firm is required to carry out the vouching activities in line with internal

circulars, purchase/sub-contract procedures/manuals, sub-delegation of powers for
authorisation of payment vouchers, PO terms and conditions, relevant law and
regulations (GST, Income tax, Customs etc.), BEL TA DA, Medical Rules, Office
Orders etc. Generally, the Scope of Audit will not be amended. However BEL
reserves the right to add/delete or alter the scope under special circumstances with
mutual consent.

3. Nature of Payments in BEL for vouching are as under:

a. LOCAL VENDOR PAYMENTS including advances and Misc Payments (including
Letter Orders), Ola and Oyo Payments, Payments under management sanctions
without POs.

b. FOREIGN VENDOR PAYMENTS including advances.

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EXPRESSION OF INTEREST – BEL GHAZIABAD

c. Payment to agencies providing casual manpower through PO.
d. Payment for purchase of medicines etc. through PO
e. Verification of Bank Account for payments wherever required
4. Vendor’s payment are generally based on the POs / Service Orders issued (Local
as well as Foreign POs)

5 Coverage of Vouching Activity with Average volume of Transactions p.a.

a) GHAZIABAD Unit

Sl. Particulars Extent of Indicative average Volume of

No. Vouching vouchers & value p.a. (Based

on Last two years data )

Ghaziabad Unit

1 Local Vendor Payments including 13000 nos.

advances and Misc. Payments. 100% Value Rs. 950 Cr to 1000 Cr

2. Foreign Vendor Payments including 550 nos.
advances. Value Rs. 300 Cr to 350 Cr

3. Medical Reimbursements to 100% 13000 nos.
Employees Value Rs. 5 Cr to 5.50 Cr.

4 Travelling (TA/DA) claims for 100% 6000 Nos.
Employees including payment to Value Rs.13 Cr to 14 Cr.
agencies for Air Tickets etc.

(b) Central Research laboratory (CRL) Ghaziabad.

Sl. Particulars Extent of Indicative average Volume of
vouchers & value p.a. (Based
No. Vouching on Last two years data ) CRL

1 Local Vendor Payments including Ghaziabad
500 nos.
advances and Misc. Payments. 100% Value Rs. 40 Cr to 41 Cr

2. Foreign Vendor Payments including 100 % Nil

advances.

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EXPRESSION OF INTEREST – BEL GHAZIABAD

3. Medical Reimbursements to 650 nos.

Employees 100% Value Rs. 0.35 Cr. To 0.40 Cr

4 Travelling (TA/DA) claims for 100% 300 Nos.
Employees including payment to Value Rs 0.60 Cr to 0.65 Cr
agencies for Air Tickets etc.

(c) Regional office (RO) Delhi located in New Delhi.

Sl. Particulars Extent of Indicative average Volume of
vouchers & value p.a. (Based
No. Vouching on Last two years data ) RO

1 Local Vendor Payments including 100% Delhi
advances and Misc. Payments. 100% 1600 nos.
Value Rs. 30 Cr to 31 Cr
2. Foreign Vendor Payments including Nil
advances.
750 nos.
3. Medical Reimbursements to Value Rs. 0.35 Cr to 0.40 Cr
Employees

4 Travelling (TA/DA) claims for 100% 330 Nos.
Employees including payment to Value Rs. 0.40 Cr to 0.45 Cr
agencies for Air Tickets etc.

Overall Summary of Ghaziabad Unit, CRL - Ghaziabad and RO-Delhi

Sl. Particulars Extent of Indicative average Volume of
Vouching vouchers & value p.a (based
No.
100% on Last two years data)
1 Local Vendor Payments including 15100 nos.
advances and Misc. Payments. Value Rs. 1020 Cr to 1072

2. Foreign Vendor Payments including 550 nos.
advances. Value Rs. 300 Cr to 350 Cr

3. Medical Reimbursements to 14400 nos.

Employees 100% Value Rs .5.70 Cr to 6.30 Cr

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EXPRESSION OF INTEREST – BEL GHAZIABAD

4 Travelling (TA/DA) claims for 100% 6630 nos.
Employees including payment to Value Rs .14.00 Cr to 15.10 Cr
agencies for Air Tickets etc.

CHECKLIST FOR PAYMENTS (not exhaustive)

1) LOCAL VENDOR PAYMENTS (GOODS):

a) Check for GR for the quantity supplied and Usage Decision (UD) with respect to
acceptance of the quantity.

b) Documents for claiming the payment is as per the PO.
c) Original Invoice as per GST requirement.
d) MIRO (Liability) is to be made for the quantity accepted based on the GR.
e) At the time of MIRO, expenditure to be booked in correct GL as per the Account

assignment.
f) While checking MIRO, check PO terms, LD clause for delay,
g) Payment terms as per the PO.
h) Availment of ITC as per the GST rules.
i) Applicable IT TDS and GST TDS or discount (if any) etc.
j) In case the vendor is Micro or Small, payment to be made as per MSME Act after

due consideration of payment terms as per the PO. As far as possible, Interest
payment to be avoided.
k) Advance, Security Deposit (SD) and Rejections (if any) to be taken care at the
time of payment.
l) In case of balance payment (5% or 10%), whether PBG required to be submitted
by the vendor or not as per PO terms and conditions to be checked.
m) Whether Payment authorizations are as per Company’s Procedures/ Limits / Sub-
delegation of Powers.
n) Any other documents relevant for vouching.

2) i) LOCAL VENDOR PAYMENTS (SERVICES)

a) Service Entry sheet is made and accepted by the Indenter.
b) All the points referred above from 1 (b) to (m) are to be complied.
c) Freight Payments inward and outward Contracts.
d) Payments to Clearing House Agents.
e) Any other documents relevant for vouching

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EXPRESSION OF INTEREST – BEL GHAZIABAD

2) ii) LOCAL VENDOR PAYMENTS FOR CONTRACT NATURE OF
SERVICES ( CIVIL / ELECTRICAL / MECHANICAL / LABOUR / ETC..

a) Measurement sheets to be verified for payments.
b) Minimum wages to be paid as per the contract.
c) Compliance to PF, ESI Act to be verified.
d) Terms and conditions as per the contract to be complied for payments.
e) Attendance Sheet and Wage Register for Labour Contract to be verified.
f) Points referred in (b) to (m) of Sl. No. 1 above to be complied.
g) Any other documents relevant for vouching.

3) FOREIGN VENDOR PAYMENTS (GOODS):

(a) Pricing of the MIRO is done based on INCO terms. The same to be checked.
(b) Payment to Foreign Vendors is through LC, Sight Draft or Telegraphic Transfer.

Documents required are Invoice, Bank Details of the Vendor, Air way bill/ Bill of
Lading, Bill of Entry, FEMA Declaration, Authorized Signatory Advice to Bank.
(c) Points referred above from 1(a) to 1(g) and 1(l) & 1(m) to be checked.
(d) Payment of Customs Duties (including Manual payments of Customs and GST)
and availment of applicable ITC
(e) Freight Payments to the Freight Forwarder to be checked.
(f) Whether Payment authorizations are as per Company’s Procedures/ Limits/ sub-
delegation of powers
(g) Any other documents relevant for vouching

4) FOREIGN VENDOR PAYMENTS (SERVICES):
(a) In case of Foreign Service POs, Tax implication needs to be taken care (IT TDS,

GST, availment of ITC and other compliances required as per the IT Act).
(b) Points referred above from 3(a) to 3(f) to be checked.
(c) Any other documents relevant for vouching

5) MISC PAYMENTS
(a) Are based on Management Sanction.
(b) Request from Indenter is made in system mandatorily against which liability to be

created.
(c) Revenue WBS or IO (Internal Order) is compulsory for Misc Payments.

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EXPRESSION OF INTEREST – BEL GHAZIABAD

(d) Along with above, Invoice to be forwarded with in-seal of Security to B/P for
release of payment in case of receipt of goods.

(e) Tax Applicability to be checked.
(f) Wherever applicable ITC is to be taken care.
(g) Any other documents relevant for vouching
6) ADVANCE PAYMENTS
(a) Advance is paid strictly based on the terms of the POs.
(b) For Advance also, request from Indenter/Down Payment request is compulsory.
(c) Documents required are Invoices, Board approval copy, Bank Guarantee (110%),

Confirmation of the BG, FEMA declaration (in case of Foreign PO), and any other
documents as required by PO. Original approval file also to be seen for
compliance.
(d) Periodic review of advances to be done.
(e) Advance to be adjusted immediately on receipt of goods.
(f) In case items get rejected, the advance paid to be transferred to Rejection GLs.
(g) Any other documents relevant for vouching
(h) GST & TDS Liability on advance payments.

7) TA DA Claims and Medical Reimbursements
(a) Checking of individual claims with BEL TA DA Rules;
(b) Checking of individual claims with BEL Medical reimbursement rules, Office

Orders etc.
(c ) Payments to Travel Agents for Air Ticket booking as per agreements, if any.
(d) Checking of advance adjustments at the time of final payments.
(e) Checking availment of input tax credits wherever applicable
(f) Any other documents relevant for vouching

Exclusions – Payroll related activities:

a. Payroll related payments viz. Salary & allowances etc. to regular employees,
term contract engineers and apprentices etc.

b. Payment to Hospitals by Payroll for inpatient treatments.
The above excluded activities will be covered by Internal Audit Teams at Bangalore &
Ghaziabad Centres.

VIII. TERMS OF PAYMENT TO THE AUDIT FIRM

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EXPRESSION OF INTEREST – BEL GHAZIABAD

Payment to the Firm shall be made on quarterly basis after deducting applicable taxes on
receipt of the claim after completion of Audit and submission of report for each quarter. All
claims are to be certified by the Internal Audit department for each quarter for payment.
In view of the prevailing Corona Pandemic situation and restrictions in movement of people,
transportation etc. efforts are being made by BEL to appoint audit firms/ branches which are

located in the city where BEL’s Unit(s) is/are situated. Hence, no travelling, boarding &
lodging and out of pocket expenses will be paid separately.

IX. ELIGIBILITY CRITERIA FOR CHARTERED ACCOUNTANTS FIRM AND COST
ACCOUNTANTS FIRM.
The minimum cut-off points to qualify for empanelment for issue of RFQ by BEL for vouching
of Bills Payable activities is “65” points and the evaluation criteria is mentioned at “Annexure
B”. Hence, those firms who score 65 points and above and meets all mandatory
conditions as mentioned hereunder only need to apply and considered for evaluation. The
prospective Firm should meet all the eligible conditions on their own and not in combination
with other firms. No joint bidding by any firms. No further outsourcing of activities will be
allowed.

MANDATORY CONIDTIONS :- 5 Mandatory conditions are listed below.
i) The Firm should be in continuous existence for a minimum period of 10 Financial Years.

ii) Minimum 4 full time partners should be there in the firm for not less than 3 years. In case
of merged firm Copy of Partnership Deed and Copy of Constitution Certificate issued by the
Institute certifying the constitution of the Firm, their branches & date from which it is
continuing as a Partnership Firm (latest) to be enclosed.

iii) The firm should have Minimum average annual turnover of Rs.200 Lakhs for the last 3
financial years from Internal/ Statutory Audits. Income from Consultancies, Tax Audits,
Bank/Branch Audits, and Interest Income etc. will be excluded for the purpose of evaluation.
The copy of the audited financial statements with break-up of revenues is to be furnished.

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EXPRESSION OF INTEREST – BEL GHAZIABAD

Break up of Professional Income to be certified as per the following format for the last
3 Financial Years .

Income [Specify FYs: 2018-19 / 2019-20 / 2020-21*] 2018-19 2019-20 2020-21
SOURCES OF INCOME

Internal Audit
Statutory Audit
Total Income from Internal/Statutory Audit (A)

OTHER SOURCES OF INCOME
Income from Consultancies
Tax Audits
Bank/Branch Audits
Interest Income
Others if any
Total Other Sources of Income ( B)
GRAND TOTAL ( A + B )

*Provisional results of FY 2020-21 to be furnished.

iv) The Firm should have experience in Internal audit/ statutory audit of Minimum 5
companies in manufacturing sector during last 10 years in Public sector undertaking or large
Pvt. Company having minimum turnover of Rs. 50 crore (The copy of the (i) audited
financial statements to be furnished in support of the turnover (ii) self-certified turnover
details in case of internal audit along with the Appointment Order / Letter for carrying out the
Internal Audit.)

v) Experience in Internal Audit / Statutory Audit under ERP (SAP) environment is essential.
Documentary evidence for SAP experience to be enclosed .

Interested Firms must satisfy all these conditions on their own to participate in the bid. No
joint bidding is allowed. Canvassing of any sort will disqualify the firms. Interested Firms to

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EXPRESSION OF INTEREST – BEL GHAZIABAD

provide documents which are relevant in support of meeting eligibility criteria and evaluation
criteria.

X) INFORMATION TO BE COVERED IN THE INTERNAL AUDIT REPORT FOR
VOUCHING OF BILLS PAYABLE ACTIVITIES.

The report shall include:
1.The Executive Summary on the major findings in each quarter audit report together with
the professional recommendations on the weakness observed & the risk involved. The
significant audit observations requiring immediate corrective actions shall be summarized
and to be reported in the format. The observation shall also disclose the monetary impact in
respect of the significant observations.
Significant observations:

Sl.No. SBU /Unit/ Observation Risk Auditee Audit
Business Response Recommendations
Area

1. It is necessary to conduct a post audit meeting for each quarter with the auditees with a
view to appraise the audit findings. The audit report should be finalized based on
auditees feedback / action taken and further comments, if any, of the auditor. Suggested
format indicated in the following table:

Sl.No. Particulars No of vouchers Value
1 Name of the SBU / Unit Covered ( Area wise) covered (Rs
2 Audit period in Crores )
3 No of vouchers checked during
the period and its value

i) Local Bills :-
ii) Foreign Bills :-
iii) TA/DA Bills :-
iv) Medical Reimbursement
to employees :-

4 Date of the Post Audit Meeting

5 Names of the Company’s

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EXPRESSION OF INTEREST – BEL GHAZIABAD

persons who have attended the

post audit meeting

6 Names of partner, Senior

Auditor, Audit staff with their

qualifications who had carried

out the Audit.

2. Audit may report any flaws in the system, suggestions for improvements, if any in
Internal Financial Controls weaknesses, and irregularities of serious nature observed etc.
The vouching report from the second quarter should include the fact whether the
suggestions/action taken notes made in the previous report have been duly implemented
by the auditees. The vouching is to be carried out monthly / quarterly and audit report to
be submitted quarterly. The auditor has to highlight the critical issues, if any, immediately
to General Manager (Internal Audit), BEL, Regd. & Corporate Office: Outer Ring Road,
Nagavara, Bangalore 560 045 Tel: 91-80-25039223 / Fax: 91-80-25039306, which
require immediate attention without waiting for the quarter to end. The report shall be
submitted within the prescribed deadlines. The final audit report(s) shall be issued to the
respective Unit’s Finance Head, IA Teams of BEL with a copy to General Manager
(IA)/BEL Corporate Office. The report shall be submitted in soft (both PDF and MS Word
Files) as well as hard copies duly signed and affixed with seal. Necessary essential
working papers are to be shared with IA BEL for records.

The above format is only a suggested one and actual report by auditors may be designed
better than the above keeping in mind the basic reporting requirements.

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EXPRESSION OF INTEREST – BEL GHAZIABAD

LIST OF ANNEXURES
“ANNEXURE A”

Application Format for Empanelment of CA/CMA firms for issue of RFQ for Vouching
Activities

Sl. Particulars Details
No

1 Name of the CA/CMA Firm with Registration no. (enclose certificate)

2 Address of its Head Quarters

3 Landline No/s. (with STD Code)

4 Name & Mobile no. of the nominated CA/CMA Partner of the CA/CMA Firm
whom company may contact, in connection with the assignment applied for.

5 Fax Nos with STD code

6 E mail address of the Firm & Main Partners, website if any

7 Date of Commencement of Partnership Firm (Certificate to be enclosed).
Copy of updated partnership deed.

8 Total experience as Internal/Statutory Auditors in Public Sector Undertakings
/ Large Private Sector in Manufacturing/Service Sector having annual
turnover of minimum Rs.50 Cr (enclose the requisite proof) and Number of
assignments handled. Please furnish details.

9 Details of CA/CMA Branches with Address and email of the branches.

10 Particulars of all Partners and Qualified Staff

11 List of Internal/Statutory Audit Assignments handled in SAP environment.

12 Experience in using Data Analytical Tool(s) for prevention / detection of
fraud/unusual transactions may be provided..

13 Whether the Firm or any partner has ever been debarred by the
Institute/Central or State Government. If yes, details to be mentioned.

14 Other details, if any

Note: For Sl. No 8 to 12 mentioned above, detailed enclosures may be attached if required
along with the application.

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EXPRESSION OF INTEREST – BEL GHAZIABAD

Declaration
a) We hereby confirm that the Firm/any partner is neither Statutory Auditor nor associate
concern of Statutory Auditors of Bharat Electronics Limited or its subsidiaries & have not
been disqualified on any of grounds given under Sec 141 of the Companies Act. 2013.

b) We also confirm that the details/information furnished above are / is true and correct. In
case, any detail furnished above is found incorrect later on, the Company has the right to
terminate the assignment given, without giving any notice.

c) We also undertake that we will not sub-contract / sub-assign the audit assignment.

d) We also hereby declare that if our name is included in the Company’s list of approved
Internal Auditors for vouching activity, we will undertake to do the tasks entrusted to us as
per the scope of work in a professional manner and follow all the applicable Standards on
Internal Audit (SIAs) issued by the Institute of Chartered Accountants of India (ICAI).

e) We shall also abide by the rules and regulations of the Company in force from time to time
and will always keep the company’s interest foremost in our mind.

f) If selected we will adhere to the confidentiality requirements of BEL (being a Defence
PSU) with reference to all the information and comply with the non-disclosure requirements
of BEL.

Signature of all Partners:

Sl. Name Date of Signature Institute
becoming Membership
No
partner No
Office Seal

Signature of All Partners with Name and Membership No & Office Seal.
Date:
Place:

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EXPRESSION OF INTEREST – BEL GHAZIABAD

“ANNEXURE B”

Vouching of Payments – BEL Ghaziabad Unit, CRL – Ghaziabad and RO-Delhi.

Name of the Audit Firm:

EVALUATION CRITERIA

Sl. Particulars Criteria / Points Maximum Actual score

No Points of Audit Firm
(To be filled by

the Audit Firm)

No. of years of existence of Audit Minimum 10 Years 15

firm as on the date of application - 10 Marks
(specify date & year of
1 establishment) >10 Years - For

each year 1 mark –

2 Max 5 Marks
Average Annual Revenue from

core audit functions Minimum Rs.200 5

(Internal/Statutory Audits – ref. Lakhs and above

eligibility criteria note of IX above)

3 No of qualified partners

associated with the firm for not 2 points per partner
10

less than 3 years as on date of – give details

application.

4 No. of assignments as Internal / 4 points per

Statutory Auditor in PSU in company audited –

Manufacturing / Service sector Details to be 20

during last 10 years – to specify enclosed.

whether listed / unlisted *

5 No. of assignments as Internal /

Statutory Auditor in Private 3 points per

Limited having annual turnover of company audited –

minimum Rs.50 Cr – Details to be 15

Manufacturing / service sector enclosed.

during last 10 years – to specify

whether listed / unlisted *

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EXPRESSION OF INTEREST – BEL GHAZIABAD

6 Experience in Internal / Statutory

audits in SAP environment. To

specify whether firm is 3 points per
15

experienced in use of Data company audited

Analytical Tools for detection of

Fraud etc. (to enclose proof)

7 No of Qualified Assistants 2 points per
10

Qualified Assistants

8 Total Manpower Strength other

than at Sl. No. 7 above (specify 1 point per
10

details like staff / paid assistants, Assistant

articled clerks etc.)

TOTAL 100

We hereby declare that the information given above in this application is true and correct to the best of our
knowledge and belief. We understand that in case any information given is found to be false or incorrect later,
we shall be liable for termination from the assignment.

for (Audit Firm)

Place Signature
Date Membership No.

Notes:

1. Mere meeting of the above criteria does not automatically qualify any firm. Decision
of BEL in this regard shall be final and binding. Canvassing of any sort will disqualify
firms.

2. Audit firms to furnish their self-assessment marks in the column provided above
strictly in accordance with the criteria. This will be verified and moderated by BEL
based on proof furnished by Audit Firms along with the application.

3. Qualified Firms meeting the required criteria only will be issued RFQ for submission
of quotation. No correspondence will be entertained from other bidders.

4. Price bid should not be submitted along with this EOI document. If any audit firm is
enclosing the price bid, such EOIs will be rejected for any further processing.

5. All the documents/enclosures in support of Annexure ‘A’, ‘B’ and Eligibility criteria
(mentioned at IX above) need to be attached along with Index with appropriate page
numbers & serially numbered.
***

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