TOR-Appointment of Internal Auditor of AEPC for F.Y.16-17

TENDER DOCUMENT FOR THE APPOINTMENT OF INTERNAL AUDITOR OF AEPC FOR THE FINANCIAL YEAR 2016-17 AEPC-HEAD OFFICE APPAREL HOUSE SEC-44 GURGAON HARYANA

OPENING DATE FOR SUBMISSION OF TENDER: 10ST February, 2017

CLOSING DATE FOR SUBMISSION OF TENDER: 21th February, 2017

Table of Contents

Sl No

Particulars

Page No

1

About AEPC

Page 3

2

Notice Inviting Tender

Page 3

3.

How to Apply

Page 4

4

Eligibility Criteria

Page 5

5

Documents Required

Page 5

6

Scope of Work

Page 5

7

Periodicity and Timelines of Audit

Page 5

8

Duties of Auditor

Page 6

9

Terms & Conditions

Page 6

10

Annexure I-Information Sheet

Page 7

11

Annexure II-Format of Technical Bid

Page 8

12

Annexure III-Format of Financial Bid

Page 10

13

Annexure IV Scope of Work

Page 11

SUBJECT: APPOINTMENT OF INTERNAL AUDITOR IN APPAREL EXPORT PROMOTION COUNCIL (AEPC) APPAREL HOUSE SEC 44 GURGAON HARYANA FOR THE FINANCIAL YEAR 2016-17

  • ABOUT AEPC

The Apparel Export Promotion Council, sponsored Ministry of Textiles, Govt. of India was incorporated on 22nd February, 1978, as a Company Limited by Guarantee and licensed under Sec. 8 of the Companies Act 2013 (earlier under Sec. 25 of the companies Act 1956) with the objective to promote, increase, and develop export of all types of Readymade Garments.          

As AEPC marches for expanding global markets, the gap between the          

Exporters and overseas buyers seems to bridge. AEPC works closely with Government of India on policy issues in apparel sector. The council provides specialized services and for leveraging brand India to the global business opportunities for the industry.

The main activities comprise of exploring markets and identifies items offering export potential, conducting market surveys on identified items and provide market intelligence, establishing contacts with the prospective buyers to generate their interest in India products and providing library facility to members to know latest fashion trends in world market, sponsoring trade delegations, study teams and sales teams to overseas market for exports promotion, etc.

AEPC has its head office at Gurgaon with its regional offices located at Mumbai, Tirupur, Bangalore, Chennai, Kolkata, Noida, Delhi, Jaipur, Ludhiana

  • NOTICE INVITING TENDER

The AEPC invite quotes/proposal from Chartered Accountant firms having experience in conducting Internal Audit/Audit as per the detailed Scope enclosed as Annexure-IV

Terms and Conditions:

Important Date & time for submission of Quotes/Proposals:

S. No.

Information

Details

1

Notice release date  

10/02/2017

2

Last date  (deadline) for submission of Proposal/Quotes

21.02.2017 (Latest by 3 PM)

3

Opening of technical bids

21.02.2017 (by 5.00 PM)

4

Technical presentation by bidders

Will  be  intimated  later  to  the  eligible bidders

5

Place,  time  and  date   of  opening  of  financial proposals  received  in  response  to  the   Notice

notice.

Will be intimated later

6

Bid validity period

90    days   from    the         last    date(deadline)       for       submission       of proposals.

7

Contact person for queries

CA. Kundan Srivastava, GM Finance

8

Addressee  and  address at  which  proposal  in response to RFP notice is to be submitted

Apparel Export Promotion Council, Apparel   House,   Sector-44, Institutional Area,  Gurgaon – 122  003 (Haryana)

Tel: 0124-2708031 Email:

kundan@aepcindia.com

  • HOW TO APPLY

The last date of receipt of quotes in a sealed envelope on or before 21th February, 2017 up to 3.00 pm addressed to The General Manager (Finance), Apparel Export Promotion Council, Apparel House, Sector-44 Institutional Area, Gurgaon, Haryana-122003. Alternatively, the sealed envelope may be sent through Registered post/ Courier/by hand and should reach to us on or before the last date & time. The agency will ensure that it is received at Apparel House, Gurgaon before the due date & time. The quotes/offers/bids received after the due date and time will not be entertained. The quotes/offers received through e-mail would not be considered.

The  quotes  should  be  in  two  separate  sealed  envelopes  clearly  mentioned  as “Technical Quotes” and “Financial Quotes” and both the sealed envelopes to be put into another envelope and it should be super scribed as “Proposal/Quotes for Appointment of Internal Auditor for the Financial Year 2016-17”.

The agency qualifying the eligibility criteria shall submit the tender in two separate covers, as follows:-

Cover (A) – Super scribed as Technical Quotes/bids, Annexure-II with documentary evidence in support of Eligibility Criteria,

  1. Copy of the Balance sheet and profit and loss account showing annual financial turnover of at least Rs. 1 crore during the previous financial years, ending 31st March, 2016.
  2. Copies of the work orders/PO/Agreements evidencing that the agency has experience of financial audit.
  • List with qualifications of in-house team.
  1. Demand Draft for Rs. 50,000/- towards EMD in favour of “Apparel Export Promotion Council” payable at Gurgaon, Haryana.
  2. Photocopies License /Registration Certificate of the firm/Prop.
  3. Signature of the authorized signatory on each page.
  • Copy of PAN Card of the firm/proprietor
  • Copy of Service Tax Registration (ST – 2 forms)

Cover (B) – Super scribed as Financial Quotes/bids as per Annexure-III

  • ELIGIBILITY CRITERIA
  1. The interested Lead CA firms are advised to read and understand the eligibility criteria mentioned herewith before submitting their tender. They are also required to submit the relevant documents as mentioned in para 5 for each of the eligibility criteria:-
  2. The Lead CA Firm should be empanelled with the Comptroller & Auditor General of India (C&AG) for the financial year 2016-17.
  • The Lead CA Firm should have at least an experience of five (5) years from the date of registration of the firm.
  1. The Lead CA Firm should have at least two (2) Chartered Accountants as employee (other than partners/prop) as on the date of tender submission.
  2. The Lead CA Firm should have office in NCR of Delhi
  3. The Lead CA Firm should have conducted either statutory audits and or internal audits of at least three years of any Autonomous Bodies/Statutory Bodies/EPCs/PSUs with minimum annual turnover of Rs 50 crore each with multi locations/offices/branches/units on or after financial year 2010-11.
  • The annual average turnover of the interested Lead CA firm shall not be less than Rs 1 crore for last three financial year i.e. 2015-16, 2014-15 & 2013-14.
  • DOCUMENTS REQUIRED
  1. The Lead CA Firm shall compulsorily submit the following documents as proof to their eligibility being fulfilled which should be duly certified by partners/prop of the firm.
  2. Certified copy of empanelment letter issued by C&AG is to be submitted.
  3. Certified copy of registration certificate of the firm is required be submitted.
  4. Certified copy of relevant documents from ICAI is required to be submitted
  5. Certified copy of appointment letters from the client organizations and copy of their Balance Sheets and P&L Account of client is required to be submitted.
  6. Certified copy of Income Tax Return Acknowledgement of the Firm.
  7. A Copy of Service Tax Registration No is to be submitted.
  8. A copy of PAN No allotted by Income Tax Department is to be submitted.
  • SCOPE OF WORK

As per Annexure-IV

  • PERIODICITY AND TIMELINES OF AUDIT

AEPC Internal Auditor will be required to conduct the internal audit in four quarters 1st April to 30th June, 1st July to 30th September, 1st October to 31st December and 1st January to 31st March. The auditors will also be required to prepare and certify the annual accounts of AEPC for the year 2016-17.

Commencement of Internal Audit of every Quarter:- The audit should start from the 10th day of the month following the end of the quarter of which audit is be done at Head Office.

Submission of Final Internal Audit Report:- The final Internal Audit Report  of AEPC after discussion the management should be submitted with 30 days from the date of start of Internal Audit.

  • DUTIES OF AUDITOR

The Auditor will be required to carry out internal audit at Head Office on quarterly basis and submit the final internal audit report to Chairman (F&B) and General Manager-Finance.

The auditor will be required to discuss the internal audit reports at Head Office before it finalization of each quarter. It may take 4-5 working days. For this he will be required to meet General Manager-Finance and discuss his response and incorporate his comments before issuing final internal audit report. For internal audit report the inputs of General Manager-Finance will be obtained before issue of final internal audit report.

The auditor shall be responsible for finalization of financial statement at the year end with in time stipulated. The same shall be certified with signature and seal of the Lead CA Firm.

It will be the duty of the internal auditor to obtain/follow up the corrections/rectifications/action taken for each objection and incorporate the same in consolidation management summary to be presented in the Finance and Budget subcommittee of AEPC.

  • TERMS AND CONDITIONS

The selected agency should not sublet the work in part or full to another agency without specific permission of AEPC.

There will be no escalation in the price during entire contract period.

The contract shall be terminated in respect of the followings:-

(i)       If the service of the firm is not found satisfactory,

(ii)      In case the firm fails to execute the job as per the terms and conditions of awarded work, the balance / total work will be got executed through other agencies at the agency’s risk and cost.

(iii)     The decision of the Chairman F&B, AEPC will be final and binding on the Firm and no request will be entertained in any manner.

In case of any dispute or difference arising in relation to meaning or interpretation of the award, Secretary General, AEPC would be the final arbitrator.  The decision of the arbitrator shall be final and binding on both the parties.

NOTE - Please Refer to PDF Attached at the bottom for Annexure-1, Annexure-II​, Annexure-III​ 

Click here for  Annexure-IV to TOR for Appointment of Internal Auditor for F.Y.16-17