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.
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 FORMAT FOR THE FINANCIAL PROPOSAL
(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 omission.
(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
(f) financial statements reflect true and^fair view of financial results and
2. The statutory requirements are complied along with the compliance of the
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,
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