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National Law University, Cuttack, Odisha
August, 16th 2021



The Registrar, National Law University, Odisha, Cuttack invites sealed financial
quotations from the CAG ernpanelled ehartered Acffiuntant Firms fpr the statutory
audit of Financial statement of National Law University and filing of lncome Tax

Return for the year 2020-21.The minimum audit fee is fixed Rs. 50,000.00. The CA

Firm having the University/educational institution Work experience will be given



The seaied quotations along with all necessary documents should reached in
the office of the Re$istrar, National Law University, ddisha, Cuttack on or before

19.08.2021 and the same will be opened in the same day af 4 P.M. rn the ground

floor meeting room of the Admin Block of the UniverSity.

Nati Law


Documents to be submitted: Kegts L rur

1. Firm Constitution Certificate Nati0nel Lrr Univcrsitv, Odish a
2. CAG empanelment acknowledgement
3. PAN of the Firm
4. GST Certificate
5. ITR of last three years
6. Evidence in support of earlier work experience
7. Financial Quotation

Deliverable, Timelines and Payment Schedule:

The CA must be ready to take up the asqignment within 3(three) days and

complete the work by 1Sth September 2021. The work will be done in the office of the
Registrar, National Law University, Odisha, Cuttack

Sl.No. Deliverable/output Fees payable Time

1. Audited Financial Statement along Approved price after Maximum two

with all schedule for the financial submission of Report & weeks after
year 2020-21 as per the quotation filing of lncome Tax completion of

call notice. Return for 2020-21 work.

2. Fiiing of lncome Tax Return for the
year 2020-21

Address for submission of quotation- Registrar, National Law University,Cuttack

CDA-1 3, Naraj Road,PlN-7 53015

Kathajodi Campus, Sector-l3, CDA, Cuttack-753015, Odisha, india
Telefax : +91571 2338004, Phone : +9167L 2338018 (o), website : www.nluo.ac.in

(On the letter head of the Firm with full postal address, telephone nos. e mail


Rate for Audit of Accounts of NLUO for one financial year

Financial quotation for Audit as per scope of work as specified in the

Quotation call Notice

Audit Fee GST(if any) Other expenses if Total


1 2 3 4*1+2+31

Statutory Auditors should ensure that :

1. Preparation of the financial statements i.e. the Balance Sheet, lncome &

Expenditure Account and Receipt & Payment Account, giving a true & fair

view and are free from any material misstatements with following verifications:
(a) Ledger balances agree with the entries made in the books of account.
(b) Sufficient and appropriate evidences are available for entries made in
books of account.
(c) all transactions are being recorded in books of account, i.e. there is no

(d) information contained in the fir.lancial statements is clear and


(e) amounts shown in financial statements are properly classified,

described and disclosures are made in conformity with applicable

accounting Standards.

(f) financial statements reflect true and^fair view of financial results and

financial position

2. The statutory requirements are complied along with the compliance of the

Accounting standards.

3. NLUO Rules and due procedures have been followed.
4. Timely payments made to staff are as due and timely recovery of

loans/advances paid to staffs.

5. Review of accounting systems and statutory control systems to ensure that no

revenue leakage takes place

6. Proper & adequate MIS exists for different level of management.
7. Physical examination and verification of tangible assets is carried out.
- 8, Detection of systemic flaws and suggestions for adopting corrective measures
9. Comment on risk assessment and risk mitigation mechanism in institute.

10.Depute two articles at least Final CA level for assignment of Audii and any

other work assigned by institute duly supervised by CA and designated



ll.Verification of payment vouchers, receipts, contracts & execution thereof,

bank reconciliation.

12. Review of Received values, Advances & Deposits, Retention money etc.

l3.Verification & report as to Capitalization of Fixed Assets out of Work-in-


14. Review of Specific grants received from Government and other authorities,

utilization thereof, creation of assets & accounting thereof.

l5.Preparation, Finalization and Certifications of Balance Sheet, lncome &

Expenditure Account and Receipt & Payment Account including all Schedules

& Annexure with Notes on Accounts of NLUO for the financial year 2020-21.

Annual Accounts of NLUO have to prepare on compliance with generally

accepted accounting principles, accounting standards, significant accounting

policies & disclosures. 1,:

'16. Filling of lncome tax return for the Financial Year 202A-21 within due time.

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