| Description |
EXPRESSION OF INTEREST (EOI)
FOR
APPOINTMENT OF AUDITOR FOR DETAILED AUDIT OF THE ACCOUNTING
SYSTEM AND STATUTORY COMPLIANCES
FOR
PUNE CHAPTER OF WIRC OF
THE INSTITUTE OF COMPANY SECRETARIES OF INDIA (ICSI)
FOR
FINANCIAL YEAR 2023-24
EOI for Appointment of Auditor 2 | P a g e
ICSI HQ: ICSI HOUSE, 22, INSTITUTIONAL AREA, LODI ROAD, NEW DELHI-110003
ICSI/EOI/IA/Pune Chapter/2023-24
INDEX
Sl. No. Contents Page No.
1. Details of Expression of Interest (EOI) 3
2. Minimum Eligibility Criteria for engagement as Auditor 4
3. Scope of Work 4
4. Audit Fees 5
5. Time Period for Engagement 5
6. Confidentiality 5
7. Penalties 5
8. Indemnity Clause 5-6
9. Arbitration 6
10. Other Terms & Conditions 6-7
11. Application Procedure 7
12. Annexure – I (Format of Technical Bid) 8
13. Annexure – II (Criteria Point Allocation) 9
14. Annexure – III (Format of Financial Bid) 10
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1. Details of Expression of Interest (EOI)
Introduction:
The Institute of Company Secretaries of India (ICSI), a premier professional body under Ministry of
Corporate Affairs, invites expression of interest from eligible Company Secretaries/Chartered
Accountants/Cost Accountant firms based in Pune to be engaged for an assignment of audit of
the Accounting System and Statutory Compliance of Pune Chapter of WIRC of the Institute of
Company Secretaries of India, situated at Shreyas Apartments Condominium, C.T.S. No.
1654+1655, Sr. No 50, Hissa No. 5&6, Near Gananjay Society, D.P. Road, Kothrud,
Pune, Maharashtra - 411038, for the Financial Year 2023-24.
Important information regarding Expression of Interest (EOI):
1. Date of uploading on ICSI Website 8
th March,2024
2. Last date and time of Submission
of Bids
18th March,2024 by 3:00 p.m.
3. Date and time for opening of
Technical Bid
19th March,2024 at 3:00 p.m. at ICSI House,
22, Institutional Area, Lodi Road
New Delhi
4. Date and time for opening of
Financial Bid
21st March,2024 at 3:00p.m. at ICSI House,
22, Institutional Area, Lodi Road
New Delhi
5. Address for submission of Bids Joint Director (Directorate of Internal Audit)
The Institute of Company Secretaries of India
ICSI House,
22, Institutional Area, Lodi Road
New Delhi-110003
6. Fees for EOI NIL
7. Contact details for any clarification The Institute of Company Secretaries of India
(ICSI) Telephone No.- 011-45341078 / 45341032
Email – internal.audit@icsi.edu
8. Institute Website www.icsi.edu
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2. Minimum Eligibility Criteria for engagement as Auditor are as follows:
1) The firm of the Auditor should be at least in existence for ten years;
2) The Average Annual Turnover of the firm from Audit for the past three consecutive years i.e., 2020-
21, 2021-22 & 2022-23, as per audited annual accountsshould not be less than Rs.25 lakh;
3) The auditor’s firm should be Internal or Statutory Auditors for at least five entities in the
previous three years i.e., 2020-21, 2021-22 & 2022-23.
4) Auditors should be appointed out of practicing Company Secretaries/Chartered
Accountants/Cost Accountants, with a condition that the individual or their relatives or
partner of the firm should not be an Office-bearer of the Central Council/Regional
Council/Chapter/CCGRT of ICSI.
5) Firm should preferably be Peer Reviewed Audit Firm.
6) There should not be any disciplinary action against the Audit Firm;
3. Scope of Work:
The auditor shall review the existence and effectiveness of internal control system(s) and report
on the adequacy of those controls, as well as, deficiencies, if any. The primary focus shall be on
proprietary aspect in addition to authorization, internal control, reconciliation, recording,
safeguarding and valuation aspects.
The key objectives of audit shall be to ensure the following:
1) To ensure proper accounting of all receipts & payments in alignment with the accounting
policies and guidelines communicated by HQ, compliances with statutory obligations
(TDS, GST, PF, ESI, Professional Tax & others), maintenance of vouchers with
supporting documents, reconciliation of bank accounts and inter-unit transactions;
verification of Income & Expenditure details for all the Students & Members’
Programmes;
2) To ensure proper recording of sale of Headquarters publications and deposit of sale
proceeds to the Headquarters bank account as well as physical verification of stock at
chapter office and reconciling the same with HQ records;
3) To ensure proper accounting of chapter assets and assets funded assets by Headquarters,
maintenance of Fixed Assets Registers demarcating between the two, conducting physical
asset verification within the chapter and ensuring adherence to disposal of assets, as per
DoFP/Guidelines;
4) Ensuring adherence to the Institute’s purchase policy & DoFP, ICSI Guidelines,
provisions of the Company Secretaries Act and Regulations and other statutes as may be
applicable with respect to the administrative, financial and non-financial matters;
5) To ensure compliance of observations raised during Internal Audit, Statutory Audit and
any other audit etc. and suggestions for improvement in the existing process of working
(if any).
6) Identification of areas of leakage of revenue if any and suggest the prevention and
detection of frauds and errors. |