Procurement Opportunity: Custom Bid for Services - For Selection of Audit firms for their Appointment as Concurrent Auditors

The eligibility requirements include being a registered entity, meeting the experience criteria, and demonstrating minimum financial turnover for past fiscal years. Additionally, any bid seeking exemption from specific criteria must present relevant supporting documents for consideration.

Bidders are required to submit certificates that validate their experience, comply with industry standards, and any additional certificates requested in the ATC (Additional Terms and Conditions).

Potential bidders can register through the GEM electronic portal. It is essential that they complete the registration steps accurately to ensure their eligibility to participate in the bid submission process.

Documents should be submitted in the formats specified in the tender notice, typically as PDF or scanned copies to ensure clarity and legibility. Bidders are advised to check the specific requirements outlined in the tender documentation.

Technical specifications emphasize prior experience in conducting audits, knowledge of current auditing standards, and staff certifications in accounting or auditing practices.

Yes, bidding firms must comply with established auditing quality standards as defined by regulatory authorities in India. This includes adherence to International Financial Reporting Standards (IFRS) and other relevant guidelines.

Bidders must comply with all relevant laws, including tax regulations, corporate governance, and auditing standards. Documentation demonstrating compliance must be submitted with the bid.

The evaluation criteria will include total bid value, compliance with technical and financial requirements, submission quality, and the demonstrated experience of the bidder in similar auditing roles.

The EMD for this tender is set at INR 200,000. This deposit serves as a security to the buyer and is refundable post the completion of the bidding process unless specified otherwise in the terms of the tender.

Performance security requirements will be outlined within the tender conditions and may consist of a percentage of the bid value to ensure that bidders meet their contractual obligations.

Payment terms will be specified in the tender documentation and typically include stipulations for progress payments or milestone payments based on audit deliverables submitted and accepted.

Price evaluation will consider the total cost presented by bidders in relation to the quality and comprehensiveness of their technical proposals.

Proposals must be submitted electronically through the GEM portal, ensuring adherence to specified formats and inclusion of all required supporting documentation.

The evaluation process duration will be outlined in the tender documentation, along with timelines for notifying bidders about the results of their submissions.

MSEs and startups may benefit from relaxed eligibility criteria, exemption from certain experience requirements, and potential financial incentives in the evaluation process and contracting.

Yes, the tender promotes compliance with 'Make in India' policies by encouraging local manufacturing participation within the bidding process and ensuring local content requirements are met where applicable.