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KOCHI METRO RAIL LIMITED (A Joint Venture Company of the Government of India and the Government of Kerala) NOTICE INVITING APPLICATIONS FOR SELECTION OF A FIRM OF CHARTERED ACCOUNTANTS FOR

INTERNAL AUDIT FOR THE FINANCIAL YEAR 2014-‐15

No. KMRL/FIN/IA/2014/01 Date: 11.02.2014

Kochi Metro Rail Limited is a Government company with Government of India and Government of Kerala are holding 50% equity shares each. It has been formed as a Special Purpose Vehicle for the implementation of Kochi Metro Rail Project at Kochi.

Kochi Metro Rail Limited intends to select a firm of Chartered Accountants, for carrying out Internal Audit of various transactions for the year 2014-‐15, as detailed below.

Key details:

Name of Work Selection of CA firms as”Internal Auditors for the financial year 2014-‐15 for KMRL

Availability of bid form Quotation documents can be downloaded from the official website of the KMRL : www.kochimetro.org on or after 12.02.2014 15.00PM

Processing Fee Demand draft of Rs-‐1500/-‐ drawn in favour of Kochi Metro Rail Ltd payable at Kochi

Last date & time of submission of Quotation :

12.03.2014 2.00 PM

Technical Bid Opening 12.03.2014 3.00 PM

Financial Bid Opening 19-‐03-‐2014 2.00 PM

Late bids (received after date and time of submission of bid) shall not be accepted under any circumstances.

KMRL reserves the right to accept or reject any or all proposals without assigning any reasons. No bidder shall have any cause of action or claim against the KMRL for rejection of his proposal.

For Kochi Metro Rail Ltd Asst. General Manager (F&A)

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No. KMRL/FIN/IA/2014/01 Date: 11.02.2014

1. ELIGIBILITY CRITERIA

1. Minimum Eligibility

1.1. The bidding firm shall be a firm of practicing Chartered Accountants empanelled with

Comptroller and Auditor General of India as on the date of application, with at least

five full time partners of which at least three should be FCA. (Valid CAG

empanelment certificate in the name of the bidding firm shall be provided)

1.2. The firm shall have a standing of at least ten years in the profession with at least 5

years experience in internal audit/statutory audit and should have handled internal

and/or statutory audit of at least 10 PSUs/Government Companies/Government

Boards or corporations/Infrastructure or project implementation tasks in the

Government sector (Certificate of incorporation and a statement showing Name

of of PSUs etc, Year of audit and Nature of audit supported by copies of

appointment orders shall be furnished).

1.3. The firm shall have exposure for carrying out statutory/internal audit of at least one

PSU/Public Limited Company having turnover of Rs.100 crores or above (copy of

appointment orders shall be furnished).

1.4. The firm shall have a branch or head office at Kochi headed by a senior partner.

1.5. The average annual gross receipts of the firm for the preceding five financial years

(2012-‐13, 2011-‐12, 2010-‐11, 2009-‐10, 2008-‐09) shall not be less than Rs.50 Lakhs. (A

self certified statement showing year wise turnover supported by audited

financial statements should be provided).

1.6. A partner or a qualified assistant should head the internal audit team of KMRL (An

undertaking to this effect shall be furnished).

1.7. The firm shall not be involved in any legal case in professional matters of its clients (A

declaration to this effect shall be furnished).

1.8. Self attested copies of relevant documents proving all the above requirements should

be attached with the technical bid. No correspondence in this regard after tender

submission/opening shall be entertained. Bids without any of the documents

above shall be summarily rejected.

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2. FORM OF APPLICATION

Applications for selection of Internal Auditor shall contain all of the following details and

should be attached with the technical bid:

2.1. Name and address of the firm

2.2. Address of the Kochi branch of the firm (If different from above)

2.3. Year of establishment of the firm.

2.4. List of Partners as on 1.1.2014.

2.5. Number of paid Chartered Accountants employed by the firm.

2.6. Number of semi –qualified employees/articles attached with the firm.

2.7. Exposure of the firm in the PSU, being Infrastructural company under Central/State

Govt. as statutory auditor. (Name of PSU and year of audit)

2.8. Exposure of the firm in the PSU, being Infrastructural company under Central/State

Govt. as internal Auditors. (Name of PSU and year of audit)

2.9. Exposure of the firm in other PSUs under Central/State Govt. as statutory /internal

Auditors. (Name of PSU, year of audit and nature of audit)

2.10. Experience in special assignments in PSUs (Name of PSU, nature of assignment and

year of assignment), e.g.:

i) Project Implementation Audit

ii) VAT Audits

iii) Handling of Overseas Development Aid, etc.

2.11. Resume of the firm

2.12. Constitution Certificate issued by ICAI as on 1.1.2014.

2.13. Latest Empanelment certificate issued by CAG.

2.14. Service tax Registration Number

2.15. PAN

2.16. Contact details with phone and email.

2.17. Bank Account Details of the firm (Bank name, Branch, IFSC, and Account Number)

2.18. Other areas in which services are offered viz (For information only)-‐

i) Income Tax Consultancy

ii) Service Tax Consultancy

iii) CENVAT consultancy

iv) VAT Consultancy

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v) CST Consultancy

vi) Central Excise and Customs consultancy

vii) Duty drawback consultancy

viii) Foreign exchange, Export and import consultancy

ix) International Taxation

x) Government transactions

xi) Procurement and Tendering

xii) Companies Act 1956

xiii) General Accounting and Accounting Standards.

xiv) IFRS

xv) Project Reports of value more than Rs. 100 crores

xvi) Any other relevant areas

3. TENDER PROCESSING FEE

3.1. The tender processing fee is Rs 1500 (One thousand Five Hundred only). The Bid

documents can be downloaded from our website www.kochimetro.org until 6 pm

on 11th March 2014. The fee shall be paid in the form of a DD or account payee

cheque (subject to realisation) payable at Ernakulam, favoring “Kochi Metro Rail

Limited”. Applications without tender processing fee shall be summarily rejected.

4. SELECTION PROCEDURE 4.1. The firms will be evaluated based on the minimum eligibility criteria (para 1) as

well as the evaluation criteria (Appendix A).

4.2. Bids of the firms who meet all of the minimum eligibility criteria only shall be

considered for assessment of evaluation criteria. No correspondence in this

regard after the tender submission date will be entertained.

4.3. The audit firms, who secure marks of 80 and above on the basis of evaluation

criteria, will be considered for opening of their financial proposal.

4.4. The firms will be ranked according to the financial bid amount from lowest to

highest.

4.5. The lowest firm will be considered for selection based on the reasonability of the

financial quote.

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4.6. If the lowest firm fails to accept the assignment in the stipulated time, the firm

which ranks next will be considered for selection, provided it agrees to match the

lowest quote.

5. SUBMISSION OF PROPOSALS

5.1. The tender proposal of the firm should be submitted in two-‐cover system. The

technical bid with the enclosures specified in clause 5.3 in first cover marked

“Technical Proposal” and the financial bid (Appendix I, II and Form A) with the

financial proposals in another cover marked “Financial Proposal”. Both the

covers shall be put in a third sealed envelope marked “Selection of CA firms

as”Internal Auditors for the financial year 2014-‐15 for KMRL ”. The bids should

reach this office on or before 2.00 PM, 12th March 2014. The application should

be addressed to “The Assistant General Manager (F&A), Kochi Metro Rail

Limited, 8th floor, Revenue Tower, Kochi-‐682011.”

5.2. Opening Of Bids

i. The technical bids will be opened on 12th March 2014 at 3.00 PM, in the presence of

authorized representatives of the bidders who chose to be present. Financial bids

will be opened on completion of technical evaluation on 19-‐03-‐2014 at 2.00 PM, and

the technically qualified bidders will be intimated of the financial opening.

5.3. Contents Of Technical Proposal

i) The filled up application form containing substantially all the details prescribed in

para 1 and 2.

ii) The curricula vitae of the staff who will be available for the duration of the work

iii) An undertaking to ensure continuity of staff on the assignment;

iv) All the supporting documents to assess the eligibility criteria/technical evaluation

shall also be furnished. In the absence of documentary proof for any of the claims

the bid shall be treated as non-‐responsive.

v) The cheque or DD towards payment of bid processing fee.

6. GENERAL CONDITIONS

6.1. The present appointment is for a total term of three financial years commencing

from the year 2014-‐15. However the performance of the auditor will be evaluated by

the Audit Committee of KMRL at periodic intervals and reappointment of subsequent

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years, within the agreed term of three years, will be strictly based on the satisfactory

performance in each of the completed financial year.

6.2. Applications received after the above-‐mentioned date and time will not be

considered for selection.

6.3. Internal audit Reports for each quarter, addressed to the Director (Finance), shall be

submitted within one month of completion of the quarter. Errors/omissions that

require corrective action shall be brought to the notice of the Senior Manager

(Accounts and Audit) immediately during the course of the audit for required

accounting adjustments/documentation/authorization etc. A summary of such

errors/omissions noted along with details of corrective action taken shall be

submitted to the Management separately.

6.4. The minimum number of man-‐days required to be spent on internal audit at KMRL

by various categories of audit staffs is given in Form A of the financial bid. However

the bidder can increase these man-‐days according to his assessment of work. If the

actual number of man-‐days attended by any category of audit staff falls below the

quoted number of days, the remuneration shall be reduced accordingly. In any case,

the auditor has to ensure that the optimum number of man-‐ days is spent on internal

audit of KMRL. Necessary attendance register will be maintained by KMRL for this

purpose. The remuneration shall be paid quarter wise after completion of the audit

on submission of the audit report and other reports specifically asked by KMRL, if

any, and on submission of a bill by the CA firm.

6.5. The internal audit staff should be present in KMRL offices for the minimum number

of man-‐days as mentioned in the bid document. A presence of not less than 4 hours

by partners and 5 hours by fully quailed assistant shall be deemed as one man-‐day. If

the actual number of man-‐days attended by any category of audit staff falls below the

minimum required days, the remuneration shall be reduced proportionately.

6.6. No TA or DA or food expenses or out of pocket expenses will be paid for the

assignment.

6.7. Any clarifications on the tender document can be had from the Assistant General

Manager (F&A), KMRL, through email [email protected]. The last

date for obtaining such clarifications will be 5th of March 2014. Queries, if any, and

its replies will be uploaded in KMRL website on 6th of March 2014.

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6.8. The partners, employees and other personnel of the firm will not divulge any

information that has come to their possession during the course of audit/assignment

to any person other than the authorized officials of KMRL or to a statutory authority,

under any provision of law.

6.9. After the completion of the work the Auditor would be required to submit the

Reports in Hard and soft form (Compact disc/email).

6.10. The bidder shall sign on every pages of this bid document on submission. Bids without supporting information / documents shall be summarily rejected.

6.11. If amounts in figures and words differ amount in words shall prevail.

6.12. KMRL has the right to correct any arithmetical errors in the financial bid. If such

corrections result in a higher price than quoted, the quoted price shall be taken for

all purposes.

6.13. KMRL reserves the right to accept or reject any application/s without assigning any

reasons thereof. The decision of the company for empanelment of the firms will be

final.

6.14. The audit work being conducted by the CA firm will be subject to supervision of the

audit division of KMRL. In case of non-‐compliance of any instructions of KMRL, the

assignment will be cancelled without any obligations.

7. SCOPE OF THE WORK

7.1 The Internal auditor is engaged by KMRL as an arm of the management with a view to

suggest improvements thereto and add value to and strengthen the overall operational

system of KMRL by providing timely and value added services. It is not a faultfinding

mission, but a tool for constant improvement and better governance at all levels.

7.2 The audit will be carried out in accordance with the relevant national standards of

auditing, and will include such tests and controls, as the auditor considers necessary

under the circumstances. The general scope of the Internal Audit function includes the

following besides the specific audit requirement of KMRL.

7.3 a) In conducting audit special attention should be paid to the following: -‐

i) Ensure that the accounting and financial management systems remain reliable and

effective in design and to assess the extent to which they are being followed.

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ii) Review the efficacy, adequacy and application of accounting, financial and

operating controls and thereby ensures the accuracy of the books of accounts.

iii) Verify that the system of internal check is effective in design and operation in order

to ensure the prevention of and early detection of defalcations, frauds,

misappropriations and misapplications.

iv) Identify areas of significant inefficiencies in existing systems and suggest necessary

remedial measures.

v) Confirm the existence of financial propriety in all decisions and verify compliance

to government and statutory requirement.

vi) Confirm that the agreed procurement procedures and arrangements have been

followed in all procurements.

vii) Check that all expenditure on works funded by AFD/GoK/GOI Assistance/other

financial institutions, including procurement of goods and services have been

incurred in accordance with the rules, conditions and terms of relevant financing

agreement.

viii) That adequate records are maintained regarding the assets created and assets

acquired by the project, including details of cost, identification and location of

assets; and that the physical verification of assets is being carried out with due

diligence. Assist the KMRL team in periodical physical verification of Assets.

b) The scope shall also cover –

i) Conducting special assignments and investigations on behalf of the Audit

Committee or Managing Director or Director (Finance) into any matter or activity

affecting the probity, interests and efficiency of the KMRL.

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ii) Providing advisory services on specific matters relating to accounts, audit, taxation,

contracts and purchase procedures as and when required

iii) Provide assistance in rectification of all errors or omissions noticed during the

course of audit on a real-‐time basis.

iv) Ensure compliance with all tax related matters concurrently before due dates.

v) Pre-‐audit of annual financial statements.

7.1 Specific Audit Requirements of Internal Audit:

1) This assignment of Internal Audit will be done on concurrent basis. The audit

compliance includes the following, besides 100% pre audit of vendors bill

before release of payment with in the time frame and financial limits as per

KMRL’s existing policy & procedures.

2) Review all expenses and payments incurred by KMRL, covering the following

key aspects:

a. Approvals as per delegation of powers

b. Compliance to policies and standard operating procedures of

KMRL

c. Adequacy of supporting documents as per nature of the payment

d. Adherence to Accounting Practices and standards as per the ICAI

e. TDS, Service Tax, VAT, Professional Tax, Income Tax, PF, ESI, any

other statutory levies, etc. -‐ applicability, deductions and

remittances -‐ Compliance of legal provisions and maintaining

time schedule.

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f. Adherence to requirements of Companies Act, 1956, Foreign

Exchange Management Act, 1999.

g. Adherence to Chief Vigilance Commission guidelines and other

applicable regulations on procurements and contracts, including

evaluation of the bidding processes.

h. Adherence to the Indian Contract Act, 1872

i. Adherence to contractual obligations

j. Verification of the key dates and inputs by the contractors.

k. Adherence to Procurement Guidelines as made applicable to

KMRL procurements by the Lending Agencies (Presently AFD)

3) Payments to project vendors and non-‐routine payments need to be checked

with reference to compliance with the contract agreement, other policies of

KMRL before release of full payment by KMRL within a time frame. However,

other expenses like Salaries, rent, etc. (routine payments) can be checked after

release of payments. The number of contractor’s bill for pre audit before release

of payment by KMRL would be 30 per month, approximately. But this may

increase/decrease during the period under the audit.

4) Review procedures and operational controls existing in various departments to

ensure timely, efficient and accurate management information system.

5) Verification of Bank Reconciliation statement.

6) Verification of all the payments including statutory payments with in the

Stipulated time.

7) Report on review of expenses and payments regularly.

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8) Follow-‐up review of previously reported observations would be based on

confirmation from KMRL.

9) Review of the Fixed Assets Register maintained by the company.

10) Physical verification of the fixed assets once in a year and certify the same.

11) Generally, following are the various types of Revenue and Capital expenditures,

which would be covered during the review:

Project Expenses

a. Verification with Agreements/ Purchase Orders/Work Orders

b. Verification of Invoices

c. Verification of Accounting under applicable Head of Accounts.

d. Verification of Project Expenses and Capital Work-‐in-‐Progress.

e. Verification of Compliance with delegation of authority

f. MIS on monthly summary of expenses and payments relating to the project.

General/ Prime/Interim/Other Consultancy Charges

a. Verification with Agreements

b. Verification of Invoices and Payments made after deduction of Statutory and other

deduction as per the Contract.

c. Pre-‐audit of the payments made to General Consultants /Prime Consultants & capitalisation

of the same.

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d. Review of the performance of the consultants as per the terms of the contract if instructed

by KMRL.

Salaries and Allowances

a. Verification of Last Pay Certificates of the Deputationists

b. Verification of full and final settlement

c. Review the process of deduction of TDS, Professional Tax and remittance

d. Review timely and accurate remittance of PF/ESI and other statutory

deductions/payments.

Others

a. Legal and Professional Charges

b. Printing & Stationery

c. Rent, Electricity and Water

d. Maintenance

e. Office Supplies

f. Advertisement

g. Travelling Expenses

h. Administration Expenses

i. Depreciation & Amortisation

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j. Utilities and Postage

7.2 The following are the various types of funding tied up for the Project and which would be

covered during the review:

a. Government of India

b. Government of Kerala

c. Funding Agency -‐ AGENCE FRANÇAISE DE DEVELOPPEMENT (AFD) . Coordination /

verification of documents submitted towards reimbursement procedure of AFD Loans

d. Other Lending Institutions as and when required

7.3 Providing all necessary support in finalization of Accounts and Statutory audit including

verification of the Balance sheet.

7.4 Review the process of the claims made periodically and ensures the accuracy of the same

with the relevant supporting documents.

7.5 Updation on the recent amendments to taxation Acts & laws at regular intervals

7.6 The above scope is not exhaustive.

8 Extent and Coverage of Internal Audit

8.1 The internal auditor shall exercise 100% pre check of bills before the same being fully

paid by Finance Division of KMRL of all the awarded contracts including elevated,

underground and systems contracts, within the monetary limits specified by KMRL.

8.2 The auditor shall pre-‐check all the reimbursement and direct payment claims launched

with the Lending Agency, AFD, for ensuring compliance with the terms of the Credit

Facility Agreement and Project Agreement. (Approximately 5 claims in a year).

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8.3 The auditor shall vouch 100% of payment vouchers, bank statements, journal vouchers

and transfer entry vouchers and to cover 100% of the transactions in each of the months.

8.4 Routine errors of omissions or commissions noted during the course of internal audit

shall be rectified on the spot.

8.5 While conducting internal audit in a subsequent phase, the auditor will ensure that the

compliance report on audit observations pointed out in the reports relating to earlier

audit is made and corrective actions taken on those points are furnished in the Audit

Report of the subsequent phase.

8.6 The pre-‐check or pre-‐audit shall be completed in the same day for files submitted before

2 PM and for other files before 1 PM on the next day, on all working days of KMRL.

9 Duties of Internal Auditor

9.1 The Internal Auditors are accountable to management and the audit committee to:

9.1.1 Provide annually an assessment on the adequacy and effectiveness of the

organization’s processes for controlling its activities and managing its risks in

the areas set forth under the purpose and scope of work.

9.1.2 Report significant issues related to the processes for controlling the activities

of the organization and its affiliates, including potential improvements to those

processes, and provide information concerning such issues through resolution.

9.1.3 Periodically provide information on the status and results of the annual

internal audit plan and the sufficiency of department resources.

9.1.4 Coordinate with and provide oversight of other control and monitoring

committees and functions.

10 Responsibility of Internal Auditor

10.1 The responsibility of the Internal Auditor would be:

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10.1.1 Develop a flexible annual internal audit plan using an appropriate risk-‐based

methodology, including any risks or control concerns identified by

management.

10.1.2 Implement the annual internal audit plan, as approved, including as

appropriate any special tasks or projects requested by management and the

audit committee.

10.1.3 Maintain a professional audit staff with sufficient knowledge, skills, experience,

and professional certifications to meet the requirements of this assignment.

10.1.4 Evaluate and assess significant merging/consolidating functions and new or

changing services, processes, operations, and control processes coincident with

their development, implementation, and/or expansion.

10.1.5 Issue periodic reports to the audit committee and management summarizing

results of audit activities, including significant audit issues and management

action plans.

10.1.6 Keep the audit committee informed of emerging trends and successful

practices in internal auditing.

10.1.7 Assist in the investigation of significant suspected fraudulent activities within

the organization and notify management, the external auditors and the audit

committee of the results.

10.1.8 Consider the scope of work of the external auditors and regulators, as

appropriate, for the purpose of providing optimal audit coverage to the

organization at a reasonable overall cost.

11 Rights of the Internal Auditor

11.1 The rights of the internal shall include the following subject to the aforesaid

terms & conditions:

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i) Have access to all functions and records.

ii) Have full and free access to the audit committee.

iii) Allocate resources, set frequencies, select subjects within the broad contours of the

agreed terms, and apply the techniques required to accomplish audit objectives.

12 Fees

12.1 The Internal Auditors shall be entitled, by way of remuneration for his services as

Internal Auditors, to a fee, inclusive of Service Tax, payable quarterly in arrears on

submission of audit report as per the terms of this Bid document.

12.2 No TA or DA or food expenses or out of pocket expenses will be paid for the

assignment.

12.3 Fees will be processed subject to the receipt of Audit Reports (in Hard and Soft Copies)

in as per the conditions of this engagement, along with an invoice.

13 Loyalty

13.1 During the period of this Agreement the Internal Auditors will use skills and cares and

will faithfully serve the interest of the Company. The partners, employees and other

personnel of the firm will not divulge any information that has come to their

possession during the course of audit/assignment to any person other than the

authorized officials of KMRL or to a statutory authority, under any provision of law.

13.2 The determination as to the interests of the Company for the purposes of this clause is

a matter in the discretion of the Director (Finance) alone and the Internal Auditors

shall at all times act in accordance with policy from time to time laid down by him or as

instructed by him and, in case of doubt, the Internal Auditors shall consult with the

Director (Finance) before taking any action.

14 Confidentiality

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14.1 Except as required in the performance of his duties and in accordance with written

instructions from the Director, Finance, the Internal Auditors shall not, either himself

or acting by or through his servants or agents or representatives or assignees: -‐

14.1.1 At any time disclose the private affairs or secrets of the Company which he may

learn during his appointment; or

14.1.2 At any time, directly or indirectly, communicate to any third party or other

unauthorized person, firm or company any confidential matters concerning the

Company or the Business; or

14.1.3 Directly or indirectly communicate upon any matter concerning the Company

or the Business with any of the Company’s employees, customers, suppliers,

bankers, competitors or other persons or companies with whom the Company

does business, except as instructed in the course of his duties; or

14.1.4 During this Agreement and for a period of twelve months following its

termination, solicit, or endeavor to entice away from the Company any person

who was an employee of the Company at any time during this Agreement; or

14.1.5 At any time take away any documents or data or working papers of the

Company other than as necessary in the course of his duties; or

14.1.6 At any time generally take any action injurious to the interests of the Company

or the Business.

14.2 It is agreed between the parties that the provisions of this clause 14 are reasonable for

the protection of the Company and the Company was not willing to enter into this

Agreement without the benefit of such provisions.

15 Termination

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If the Internal Auditors shall be guilty of any breach or non-‐observance of any of the

stipulations contained in this Agreement, or if he becomes bankrupt or makes any

composition with his creditors, this Agreement may be determined forthwith. In such event

no fee shall be payable to the Auditors in respect of any period subsequent to the

determination and such determination shall be without prejudice to any right of action by the

Company to claim damages or other relief against such default, breach or non-‐observance.

16 Other Interests

Before accepting any full time or part time position, including a consultancy (whether for

reward or otherwise), which might conflict with the provisions of this engagement (and in

particular the provisions of clause 7) (or any of them) the Internal Auditors undertakes that

they will notify the Company, in writing, of the proposed terms, giving the identity of the

other party and sufficient detail of the nature of his duties and the terms of his appointment

or engagement. If at the time of participating in this tender the Auditor has any interests

which conflicts with the Company's interest the same may be notified to the Company for the

Company to take a call on whether to consider the bid or not, if it is not otherwise prohibited

by the bidders code of conduct.

17 Return of papers

On the termination of this Agreement (for whatever reason) the Internal Auditors shall

immediately deliver up to the Company any documents, papers or other written information

which either belongs to the Company or relates to the Business and which came into the

possession of the Auditors in the performance of their duties under this Agreement.

18 Notices

Any notice under this Agreement shall be given in writing by either party to the other and

may be delivered or sent by post/courier/by hand addressed, in the case of the Company, to

its Director (Finance) at the registered office and, in the case of the Auditors, to their address

last known to the Company. Any such notice shall, in the case of delivery, be deemed to have

been served at the time of delivery and, in the case of posting on the expiration of twenty four

hours after it has been posted by first class mail.

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Appendix A

EVALUATION CRITERIA

Year of Establishment of Audit

Firms

1.5 point per year Maximum 21 points

No. of Partners 2 points per Partner Maximum 16 points

No of Qualified Assistants

(Chartered Accountants)

2 points per qualified

assistants

Maximum 6 points

Exposure of the firm in the PSU

being infrastructure company

under Central /State Govt. as

statutory Auditors (give name

of the PSU and year of audit)

3 points per PSU per

year of audit

Maximum 12 points


being infrastructure company

under Central /State Govt. as

Internal Auditors (give name of

the PSU and year of audit)


year of audit

Maximum 9 points


(other than infrastructure

company) under Central /State

Govt. as statutory /Internal

Auditors (Name of the PSU, year

of audit and nature of audit)


year of audit

Maximum 18 points

Audit of Overseas Development

Aid

2 points per assignment Maximum 6 points

Project Implementation Audit 2 point per assignment Maximum 6 points

Other special assignments

(Give details)

1 point per assignment Maximum 6 points

TOTAL POINTS

Maximum 100 points

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SECOND COVER-‐ FINANCIAL BID

Appendix 1

Financial Proposal Submission Format

Date

To:

The Assistant General Manager (F&A)

Kochi Metro Rail Limited,

Revenue Tower, 8th Floor,

Park Avenue, Kochi-‐682011

Dear Sir,

We, the undersigned, offer to provide the Internal Audit services for Kochi Metro Rail Limited

in accordance with your notice inviting applications dated [Insert Date] & its addendum (if

any). Our attached Financial Proposal is for the sum of [Insert amount in words and figures].

This amount is inclusive of all the taxes, cess duties and levies. This is the maximum amount

payable to us in pursuance of this assignment.

Our Financial Proposal shall be binding upon us subject to the modifications resulting from

Contract negotiations, up to expiration of the validity period of the bid.

We understand you are not bound to accept any Proposals you receive.

Yours sincerely,

Authorized Signature [In full and initials]:

Name and Title of Signatory:

Name of Firm:

Address:

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Appendix 2

1. Summary of Costs

Item

Costs

Unit

Indian

Rupees

Cost of Financial Proposal inclusive all local taxes, duties, fees, levies,

other impositions and taxes (excluding service tax) for conduct of

concurrent internal audit and pre audit. (Total of Form A)

C/o

Any other charges (Please specify) Rs.

Service tax %

Grand Total

Total amount in words

Notes

1) The service tax shall be reimbursed separately at actual cost upon production of evidence

subject to the ceiling amount as quoted above. If there is any increase or decrease in the

service taxes due to change in applicable law during the currency of contract, such

additional or reduced cost shall be paid by or credited to the Client (KMRL).

2) C/o means carried over from Form A

3) The firm shall indicate the local taxes, duties, fees levies etc., except service tax, including

percentage of taxes considered in their financial proposal in a separate format.

22

2. Breakdown of Costs by Activity

Internal Audit Team Cost Break down

Form A -‐ Remuneration

Position

Name of persons

assigned for the

work

Minimum

No. Of

Man-‐days

per

quarter

Auditors

assessment

of man-‐

days per

quarter

Unit rate in

Indian

Rupees

Total

Amount in

Indian

Rupees

Partners

3

Seniors (Fully

qualified) 10

Semi qualified

assistants. (One

person

continuously for

the entire

quarter)

30

Juniors/Articled

clerks (One

person

continuously for

the entire

quarter)

30

Note: 1. The Remuneration shall include all local taxes, duties, fees levies and other

impositions except service tax. The service tax shall be shown separately in summary of costs

table.

Documents

KOCHI&METRO&RAIL&LIMITED& · ! 4! v) CSTConsultancy! vi) Central!Excise!and!Customs!consultancy! vii)Dutydrawback!consultancy! viii)Foreign!exchange,!Export!and!import!consultancy!