Name: Provision FOR APPOINTMENT OF INTERNAL AUDITOR FROM CHARTERED / COST ACCOUNTANTS’ FIRMS
Start: 2024-06-04
End: 2024-06-13
Location: KSRTC - SWIFT LTD

Organization Details:

Organization Name:

KSRTC - SWIFT LTD

Country:

India

Contact Person:

- -

Address:

Anayara, Thiruvananthapuram, Kerala. - -,

Contact Details - Email:

gm.ksrtcswift@gmail.com

Phone

0471-2465000

Notice Details:

Notice Type

Tender Notice

Bidding Type

Other

Notice No.

82550765

Deadline

2024-06-13

Description

KSRTC SWIFT Ltd
Anayara, Thiruvananthapuram-695029
gm.ksrtcswift@gmail.com
Website:ksrtcswift.kerala.gov.com
No.KSWIFT/ 209/2024 Date: 30.05.2024
EXPRESSION OF INTEREST FOR APPOINTMENT OF INTERNAL AUDITOR FROM
CHARTERED / COST ACCOUNTANTS’ FIRMS
KSRTC - SWIFT Limited, a company incorporated under the
Companies Act, 2013 to act as a Special Purpose Vehicle for operating buses
procured under the assistance of various agencies, primarily from KIIFB, invites
Expression of Interest for appointment of experienced Chartered Accountants/
Cost Accountants Firms as Internal Auditors to prepare and verify the accuracy
of accounting transactions of its Office for the Financial Year 2024-25.
1. Scope of Work
The Company expects the support of a qualified Chartered/ Cost
Accountants Firm having full-fledged office in Thiruvananthapuram who has
previously associated with Government Companies to assess the effectiveness
of the financial management and to identify the areas for improvement at KSRTC
SWIFT Ltd.
Other Scope of Work:
a. To examine and report on the adequacy and effectiveness of the internal
control systems and procedures adopted, and suggest ways for their
improvement.
b. The management expects the Auditor to submit quarterly reports based
on the Company’s transactions which shall invariably be presented before
the Company’s DGM/GM/CMD by the Chartered/Cost Accountant
2
involved in the work himself. Even though work will be allotted for a firm,
a particular qualified member should be assigned the duty of KSRTCSWIFT Limited, who has to attend the meetings personally with the
management.
c. Pro-active guidelines regarding Statutory requirements should be given to
the Company Management. The scope of audit should cover all
transactions including statutory deductions, remittance as well as
returns.
d. The support given to the Company in providing guidelines should be
extended till Supplementary audit for the FY is undertaken by the
C & AG.
e. Should give guidance to the Company for the maintenance of various
registers, vouchers and books of accounts.
f. To assist in preparation and finalization of Books of Accounts of the
Company as required under the Companies Act, 2013 and the Rules made
there under including areas of Internal Control and Income Tax Act.
g. Verification of the Cash Book and Bank Book on Monthly basis.
h. Internal Audit to be done on a daily basis during office hours and to
provide assistance by deputing a qualified personnel/professional.
i. Any other work as and when assigned related to accounting work.
2. Pre-Qualification Criteria
a. The bidder should be a Chartered/Cost Accountant firm in India having
experience of 5 years or more. Preference to those who prepared audited
statements of State/Central Government PSUs.
b. The prospective offerers are to submit EOI Proposals with details of similar
work already undertaken, professionals available in the offerer’s firm.
c. There should not be any disciplinary action against the audit firm.
3. Selection Criteria
Selection should shall be based on Technical and Financial Evaluation.
a) Technical Criteria
3
The following will be the basis of marks for the selection/empanelment.
Selection/Empanelment will be done on the basis of attainment of
highest marks:
Note
i. Documentary evidence in support of the each of the abovementioned criteria are required to be submitted.
ii. In case of tie, a firm with longer experience will be preferred based
on the year of establishment.
Sl.No. CRITERIA FOR EVALUATION MAX
MARKS
REMARKS
1. Overall experience in Government
Sector of the partner who will be
given independent charge of KSRTCSWIFT Limited
(Even though work will be allotted for
a firm a particular qualified member
should be assigned the duty of
KSRTC-SWIFT Limited, who has to
attend the meetings personally with
the management)
60 Any experience
from 6 months
and up to 12
months shall be
reckoned as one
year.
(10 marks per year
of experience
subject to a
maximum of 60)
2. Qualification of Assistant to be
deputed
40 Graduation – 20
Marks
Post Graduation –
30 Marks
CA/CMA Inter –
35 Marks
Qualified CA – 40
Marks
TOTAL 100
4
b) Financial Criteria
The consultant fees quoted will be the financial criteria for evaluation
of selecting EOI from the received ones. Lowest quoted EOI will be selected
through financial criteria evaluation.
4. Other terms and conditions
a. Service of a full time Chartered/Cost Accountant should be available on
regular basis for the scope of work mentioned.
b. Right to reject any or all Expressions of Interest-Notwithstanding anything
contained in this document, the Company reserves the right to accept or
reject any EOI and to annul the Selection Process and reject all EOIs, at
any time without any liability or any obligation for such acceptance,
rejection or cancellation.
c. The Company reserves the right to reject any Expression of Interest, if (a)
At any time, a material misrepresentation is made or uncovered, or (b) the
offerer does not provide, within the time specified by the Company, the
supplemental information sought by the Company for evaluation of the
Expressions of Interest.
d. At any time before the submission of Expression of Interest, the Company
may, whether at its own initiative or in response to a clarification
requested by a potential offerer, amend the EOI by issuing an
Addendum/Corrigendum, which shall be uploaded on website only and
also may extend the deadline for submission of Expressions of Interest.
e. A prospective appl

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