Government Tender Published for Appointment of Cost Auditor for the FY 2026-27 in KARNATAKA

Validity of Appointment: The validity of appointment will initially be for a period of one financial year starting from 2026-27 for conducting Cost Audit. The Company at its sole discretion may extend the validity with the approval of Competent Authority of the Company, for another two years, (one year at a time).

It shall be the responsibility of the Bidder to ensure credit of Tender Processing Fee and EMD into the respective receiving bank accounts of e-Procurement on or before the last date and time of bid submission.

EMD Payments through e-Payment mode shall be made as one single transaction and payments made in part are liable for rejection.

Financial Bids for conduct of Cost Audit: Financial bids of those Cost Accountant firms/ Cost auditors will be opened, if they qualify in the Technical bid round.

Validity of Appointment: The validity of appointment will initially be for a period of one financial year starting from 2026-27 for conducting Cost Audit. The Company at its sole discretion may extend the validity with the approval of Competent Authority of the Company, for another two years, (one year at a time).

Place of Audit: The cost audit has to be conducted at the Corporate Office of the Company at No.82, Shakti Bhavan, Race Course Road, Bengaluru and at all relevant project locations of KPCL.

Payment Terms: Payment will be released within one month from the date of submission of bill by the Practising Cost Accountants/Firm after issuance of Cost Audit Report to the satisfaction of KPCL. No advance payments shall be made for conduct of Cost Audit. Out of pocket expenses will be reimbursed at actuals after production of necessary vouchers and documents subject to the maximum limit of 10% of the fees excluding GST.

Minimum fees for Cost audit as per decision of ICAI Council: Attention is invited to the Guidelines issued by the Council of ICAI vide Gazette Notification CWA/1/2017 dated 19.04.2017 relating to responding to the tenders by the members in practice. Accordingly, minimum fees of Rs.2,50,000/- (exclusive of GST) is prescribed for the cost audit assignment.

Appointment based on the lowest quote criteria: It is to intimate that the appointment of cost auditor is based on L1 (Lowest quote) criteria. In case of more than one L-1 bidder, the selection of the successful bidder will be made on the basis of Highest Experience Criteria, i.e. the oldest registered firm (based on Firm/ COP registration date mentioned in the certificate issued by the CMA Institute). No future objections in this regard will be entertained.

Dispute: In case of any dispute relating to contract terms and Conditions, decision of MD, KPCL will be final and binding on both the parties to the Contract.

Separate Upload of Technical and Financial Bids: Technical Bid and Financial Bid are to be signed by Authorized Signatory on each page of offer document, along with duly filled in format enclosed as Annexure I, II separately.

The technical and financial bid shall not be clubbed together and any such action shall result in rejection of such offer.