Retender for Appointment of Audit Firms for conducting internal audit of REC Power Distribution Company Limited for the Financial Year 2014–15

SCOPE OF WORK:

The audit firm would be required to con­duct the inter­nal audit of RECPDCL in accor­dance with the stan­dards on inter­nal audit, REC (hold­ing com­pa­ny of RECPDCL) Inter­nal Audit Man­u­al and guide­lines / cir­cu­lars of REC as amend­ed from time to time. The firm can­not assign this assign­ment to any oth­er firm.

Ini­tial engage­ment peri­od of appoint­ment will be for one year for the FY 2014–15. Based on their sat­is­fac­to­ry per­for­mance, the tenure may be fur­ther extend­ed on year on year basis for a max­i­mum peri­od of two years.

The com­pa­ny invites sealed ten­ders super scrib­ing the name of the work for consideration.

TIMELINES:

Sched­ule	For the period	Remarks
1st Half Year­ly Audit	1st April, 2014 to 30th Sep, 2014	Audit to be com­menced imme­di­ate­ly after award of work order.
2nd Half Year­ly Audit	1st Oct, 2014–31st March, 2015	Should be com­plet­ed by 10th April, 2015

The inter­nal audit of the accounts should be car­ried out on half year­ly basis with­out any over lap­ping. Half year­ly reports need to be sub­mit­ted to the Chief Exec­u­tive Offi­cer (CEO) after com­ple­tion of each half year and the audit peri­od should be min­i­mum of 10 days for each phase of audit cov­er­ing the entire scope.

Audit firm is required to vis­it RECPDCL office as and when required as per scope of work

The audit should be exe­cut­ed by a com­pe­tent team of pro­fes­sion­als, com­pris­ing of at least 1 qual­i­fied Char­tered Accoun­tant with 5 years of expe­ri­ence and 2 qual­i­fied staff (CA/CMA, CS, Inter CA/CMA, MBA(Finance) M.Com) who have strong expo­sure and expe­ri­ence and should be close­ly super­vised by a Part­ner lev­el per­son who will over­see the audit and attend all meet­ings with the Top Man­age­ment and Audit Com­mit­tee, as and when required.

SL No	Event	Infor­ma­tion to the agencies
1	Date of Release	08.01.2015
2	Last date of submission	16.01.2015 at 11:00 hours
3	Date of Opening	16.01.2015 at 11:30 hours
4	Eol doc­u­ment	The details can be down­loaded free of cost from the web­sites www.recpdcl.in www.recindia.com. (or) www.eprocure.gov.in
5	Address for communication	REC Pow­er Dis­tri­b­u­tion Com­pa­ny Limited.,1016–1023, 10th Floor, Devi­ka Tow­er, Nehru Place, New Del­hi- 110019, India. Tele­fax : +91–11-44128768, Phone :+91–11- 44128760/67, Email- recpdcl@ rediffmail.com
6	Con­tact Person	Somya Kant CFO Phone:011–44128766; Fax:011–44128768 Email-recpdcl@rediffmail.com