Tender Notice for Financial Audit Services - Review of Financial Statements; CAG Empaneled Audit or CA Firm

The eligibility requirements include being a registered entity, qualified as a CAG Empaneled Audit or CA Firm, and submitting documents that detail Experience Criteria and Bidder Turnover. Additionally, firms seeking exemptions must provide valid supporting documentation.

Bidders must provide relevant certificates related to their experience and qualifications in accordance with the requirements stipulated in the Authority to Contract (ATC). This may include OEM Authorization Certificates and documentation demonstrating past audit work.

The registration process involves submitting a bid through the designated online portal where bidders must create an account, fill in the necessary details, and upload required documents as specified in the tender documentation.

Bidders must submit their documents in formats that are compatible with the online bid submission platform. Commonly accepted formats include PDF or Word Documents, depending on the requirements outlined in the bid documents.

The technical specifications include conducting a statutory audit of financial statements and monthly MIS reporting. Bidders must ensure compliance with MII policies and utilize the Price Breakup Format for detailed cost breakdowns.

The audit service must adhere to statutory quality standards relevant to financial audits specific to the Indian regulatory framework. Bids will be evaluated on the basis of the firm’s ability to meet these benchmarks.

Bidders must comply with all guidelines set forth in the General Terms and Conditions. Compliance with MSE and Make in India initiatives is also mandatory, impacting eligibility and evaluation.

While direct testing criteria may not apply, bidders must demonstrate their capability through documented experience and compliance with the required audit processes specified in the tender.

No Earnest Money Deposit (EMD) is required to participate in this tender. Bidders should take note of this exemption when preparing their submissions.

No specific performance security is mentioned in this tender, but it’s advisable for bidders to review any performance-related expectations that may arise once the contract is awarded.

Payment terms will be specified in the contract following the successful awarding of the tender. Typically, these details are outlined as part of the final agreement negotiation with the awarded bidder.

Price evaluation will utilize a total value-wise assessment approach, with focus on the actual cost proposal submitted by the bidders rather than the estimated bid value, which serves only for guideline purposes.

Bids must be submitted electronically through the designated online platform specified in the tender documents, ensuring all required documents are properly uploaded.

While detailed timelines have not been provided, aspiring bidders should consult the official tender documents for specifics regarding submission windows and document requirements.

The evaluation process will consider both the technical and financial capacity of the bids submitted, focusing on overall value, compliance with conditions, and experience as outlined in the tender.

Notifications regarding the results of the tender will follow the completion of the evaluation process and will typically be posted on the same platform where bids are submitted, in accordance with transparency regulations.

MSEs may enjoy a purchase preference under this tender, whereby they could be awarded up to 100% of the order quantity if their quotes fall within the defined pricing margin of the lowest bidder.

Currently, no specific provisions for startups concerning experience and turnover exemptions are noted in the tender documentation. All bidders are encouraged to review the eligibility and support frameworks as provided.

All bidders must ensure compliance with Make in India guidelines as a criterion for evaluation. This compliance aims to promote local manufacturing and service capacities among Indian entities.