bihar state education finance corporation...
TRANSCRIPT
Bihar State Education Finance Corporation limited{A Govt. of Blhar Undertakinsl
Annexe Euilding, Block-3, Main Secretariat Campus, Patna-8qp15
lnvitation of Expression of Interest (EOll from CAG emDanelled CA flam tor undertakinr
Concurrent Audit of Bihar gtate Educatlon Finance Corooratlon Limited' Patna
Bihar State Education Finance Corporation [imited, Patna (BSEFCL) invites bids from eligible bidders in
India for "Appointment of Concurrent Auditor" for lnternal Audit, Taxation related work, compliances of
entire financiaf ooeration and other related works of BSEFCL for the financial year 2O19-2O,202O-Zl and
2021-22. Interested firms having adequate experience are requested to download the detail Expression of
lnterest (EOl) available on the website http:/flnance.blh.nic.in of Finance Department, Govt. of Bihar.
Last date of submission of bids is 20th August, 2019
For any further query and information, please contact Ms. Aradhana Singh, Company Secretary of
BSEFCL, Patna, Mobile No. 9082228663.
CEO-cum-MD of BSEFCL reserves the right to accept/reject any or all bids without assiSning any reason.
CEO.Cum-MD
Bihar State Education Finance CorPoration Limited
Bihar State Education Finance Corporation !imited(A Government ot Eihar Undertaking)
Annexe Buildinq. Block-3, Main Secretariat Camous. Patna-800015
Invitation of Expression of Interest (EOl) from CAG empanelled CA firm for undertaking Concurrent
Audit of Bihar State Education Finance Corporatlon Limited, Patna
Terms and Conditions:
(A) Brief Profile
The Bihar State Education Finance Corporation Limited (B5EFCI) is a new entity established by the
Government of Bihar, under The Companies Act, 2013 to provide education loan to students of the State,
who have passed Class 12th, are below 25 years of age and studying or are to be enrolled in courses, as
decided by the Department of Education, Government of Bihar.
Expression of Interest is invited from interested CAG empanelled CA firms to carry out concurrent
audit of Bihar State Education Finance Corporation Limited. Scope of Work, Eligibility Criteria & evaluation
details are as follows:
(B| ftope of Work1. The concurrent audit shall be done by the Chartered Accountant firm on monthly retainer ship basis as per
the provisions of Bihar Financial Rules for Internal Audit, Taxation and other related works of BSEFCt.
2. Audit would cover compliance of entire financial operation of the financial year during the course of
execution of Bihar Student Credit Card Scheme.
3. The Auditors should have the knowledge of Bihar Financial Rules, Banking and Corporate Laws.
4. At the end of each month, the f irm shall submit a monthly report incorporating its observation/irregularities
found and corrected.
5. CA firm while submitting monthly invoice to BSEFCI- will also submit certified attendance of theirrepresentatives.
6. The audit will report any matter not covered by the above that in their opinion it requires the attention ofthe management.
7. Representative of CA firm deputed at BSEFCI office, Patna will not be replaced without prior consent of theCEO-cum-MD, BSEFCL, and Patna.
8. In case, the services of the representative of CA firm are found unsatisfactory by the BSEFCI, Patna, the CA
firm shall replace him/her within seven days of receiving such request from BSEFCL, Patna.
9. Manpower Requirement would be:
Oeilgnation QualificationMenpowetRequircd
Man Davs PetMonth Per Person
Team Leader CA with post qualification experience of l5 years 1 5 daysFinance & Audit SDecialist CA with post qualification experience of 5 vears 1 10 davs
Audit AssistantCA Inter with audit experience of at least l years
or B.Com with 3 vears of experience1 Full Month
10. The period to be covered under audit would be FY 2019-20, 2020-21 and 2021-22 subiect to the review every
year by the company's management.
(C) Eligibility Criteria
1. The Chartered Accountant firm should have PAN & GST registration and shall be CAG empanelled.
2. The firm should have been in operation for at last 10 years after registration.
3. The firm shall have minimum 2 FCA partners and 15 employees including articles.
4. Thefirm shall have a minimum average annual turnover of Rs. 25 Lacs for FY 2015 -76,2076-L7 and 2077-18.
5. The firm shall have experience in auditfinancial consultancy in externally aided proiects/Government or
Semi 6overnment organizations of at least 5 projects'
6. The firm must have experience of Internal Audit/concurrent Audit of any Government organisation having
registered under the Companies Act, 1955/2013 having turnover of more than 100 Crores'
7. Thefirmshall have its branch in Bihar for at least 5 years'
(Dl Other Points
1. The selected firm shall not sublet the assignment to any other cA firms or individual chartered Accountant'
tf such Dractice is found, the companY will be at liberty to rescind the retainership and blacklist the firm'
2.on|ythosebidapp|icationswi||bescrutinizedwhowi||qua|ifytheminimume|igibi|itycriteria.3. BSEFCL will have the right to cancel any application and/or postpone the processing of selection at anY stage
without assigning any reasons thereof.
4.TheaDo|icationmustcontainabankdraftofRs.5,ooo/-(RupeesFiveThousandon|y)asEMD.EMDofunsuccessfuIbidderswi||bereturnedwithing0daysafterthefinaIizationofthefirm.
5. No joint Venture or consortium will be allowed for the project'
6.Acopyoftheacknow|edSementofthe|ncomeTaxReturnofthefirmandofa||fu||timepartnersforthe|astThree Assessment Year and a copy of computation of income of full time partners'
7. The appointment for concurrent auditor is purely contractual and for a specific period of one financial year
(i.e'2019.2020)andthesamemayberenewedfurtherforanothertwoyearssubjecttosatisfactoryperformance/ eligibility for concurrent Audit'
g. All taxes, cess, duties and surcharge like income tax, service tax etc as applicable from time to time shall be
deducted from the gross amount of the bills of the CA firms'
g.Therespondentsha||be|iab|etomaintainsecrecyandconfidentia|ityofa||theinformation/data/
operations, etc., of BSEFCL.
10. Any form of canvassing / lobbying / influence / query
disqualification.
regarding short listing, status, etc., will be a
(El Bidding & Selection Process
1. The TechnicaI Bid, containing a|| the supporting documents for the e|igibi|ity criteria and as per marking
scheme should be enclosed in a separate sealed envelope with index and page number super scribing
'Technical Bid for Concurtent Audit" in enclosed prescribed Format-A'
The Financial Bid as per Format B containing single consolidated quote of Annual Fees inclusive of all taxes
and expenses should be enclosed in separate sealed envelope super scribing "Financial Bid for concurrent
Audit".Both the envelope should be kept in one big envelope super scribing "ApPlication for concurrent Audit"
and shall be sent through courier/speed post or by hand to the following address latest bY 20tn August,
2019 to Chief Executlve officer cum Managing Director, Bihaf state Education Finance cofporation
Limited, secretariat Annexe Buildin& Block No, 3, Ground Floor, Main tecretarlat campus, Patna-800o15'
The bid will be opened on 21't August, 2019 at 4.OO PM at the official chamber of chief Executive officer
cum Managing Director, Bihar State Education Finance corporation Limited, secretariat Annexe Building,
Block-3, Main secretariat campus, Patna-800015. Apptications received after the stipulated date and time
will not be considered for evaluation. Bidder or his representative may remain present at the time of
opening of bid document.
The short listing of applications in view of the prescribed parameters & eligibility criteria shall be done by
theEvaIuationcommitteeofBiharStateEducationFinancecorporationLimited.
The firms scoring a minimum of 750 marks would be eligible for opening of the Financial Bid
The cA firm quoting the minimum Bid after technical evaluation will be selected for carrying out the
Concurrent Audit.
2.
5.
6.
7.
8. After completion of all the processes, the CA firm finally selested in the manner as specified above will get
the assignment letter after approval from Bihar State Education Finance Corporation limited, Patna along
with terms & conditions.
9. For any further query and information, Ms. Aradhana Sinth, Company secaetary, BSEFCI, Patna, MoblleIto. 9082228053 may be contacted.
10. Bihar state Education Finance Corporation Limited, Patna reserves the right to modify/cancelthe full/part ofthe contents ofthe advertisement without assigning any reason thereof.
11. The detail EOI is also available on the website http:/ftnance,blh,nlc.in of Finance Department, Govt. ofBlhar.
(Fl Disoute Resolution
In case any dispute arises between the parties with respect of the terms of reference, including its validity,the jurisdiction of the court shall be at Patna.
FORMAT.A
lnformation and Document for Eliglblllty ctlteria and technlcal Qualificatlon
S. No. Particulars Details SupportinB Require!
Name of CA firm, Address, Branch Details,
Email , Contact number Firm Constitution Certificateon or after 01.01.2019Date of Establishment
Details of Partners (ACA/FCA) and list ofemployees/articles
2 PAN NO. Copy of PAN
3 GST No. copy of GsT Registration
4 CAG Emoanelment Proof of CAG Empanelment
4 Average Annual Turnover for last 3 FY i.e.
2OL5-L6, 2016-17 and 2017-18
Copy of Audited Financial
Statements
) Details of Govt Assignments/Externally Aided
Proiects handled related to AuditCoot of work Order/ IOAvalidating the work awarded
5 Detailed CV of Team Leader and Finance &Audit Soecialist
Detailed Curriculum Vitae
Non Blacklisted Declaration Self Declaration for Non
Blacklisting
8 Name of the company /bodyaudited(a) Society/Psu/ autonomous body
(b) companies in private sector
(c) Banks
(d) Social Sector Programmes / Projects
(e) Externally aided social sector proiects
(f) Education Projects/ Programmes
FORiIAT.B
.@inc|usiveofal|duties,taxes,cess,surcharges&expensestobeincurredduring the annual working i.e. lodging, fooding and transportation etc. l,lo additional cost will be borne by
BSEFCI. Patna.
(ggnature of the BHder and Seal of th€ Flrml
Name:
tt€signation:
Mobile llo:
Fonnat for Financlrrl Bld
S. No. Pedod of Auditfotat lmount tn ns.l Quoted for the tudit Pcrlod on l|o||drly Bail3
In FBures ln Words
1 20 r.20,202G21andm2t-2j2
sEcrlot{-B
s€f decler.tion/Undertaklnt
l/we the following partners of M/s.
and severely verify and declare-
Place:
Chartered Accountant do hereby jointly
(i) that the particulars given are complete and correct and that if any of the statements made or the
information so furnished in the application from is later found not correct or false ot there has been
suooression of material information, the firm would not only stand disqualified from allotment but would
be liable for disciplinary action under the Chartered Accountants Act, 1949 and the regulations framed
thereunderj(ii) that the firm, proprietor or partners has not been debarred or cautioned by lCAl during the last three
years, (if debarred, give details);
(iii) that individually we are not engaged in practice otherwise or in any other adivity which would be deemed
to be in practice under Section 2 (2) ofthe Chartered Accountants Act, 1949;
(iV) that the constitution of the firm as on 1,t January of the relevant year shown in the Expression of Interest is
same as that in the constitution certificate issued by the lCAl.
Sl. No.Name of the
pannerMembershipRegistration No.
PAN NoSignature of
panner
(seal of the Firm)
Date:
Enclosures:
whetherfirm has done
(a) statutory/Branch Audit
(b) tnternal/Concurrent Audit
Checked by
Date :
For Offlc€ use OnlY
Verified by
Yes/No
Yes/No
updated by
tl. No. Criteria Marking Maximum Marks
1 No. of Partners 100 marks
< 2 Partners 0 marks
3-4 Partners 50 marks
>4 Partners 100 marks
2 Annual average Turnover of the firm (3 yearsl 200 marks
25-50 Lacs 50 marks
50-100 Lacs 100 marks
>100 Lacs 200 marks
3 Years of Experience of Firm 200 marks
>10 years 50 marks
10-15 years 100 marks
15-20 years 150 marks
>20 years 200 marks
4 Govt. Assignments/Proiects or Externally Aided
Proiects Experience in Audit/Accounting
200 marks
>10 Projects 100 marks
10-15 Projects 150 marks
>20 Projects 200 marks
5 Team Leader Experience (Gow prolects) 100 marks
Less Than 3 Project 0 marks
3 to 6 Projects 25 marks
5 to 10 Projects 50 marks
10 and above 100 marks
6 Team Leader Experience (in Years| 100 marks
<10 years 0 marks
10-15 years 25 marks
15-20 years 50 marks
>20 years 100 marks
7 The firm must have experience of Internal
Audit/Concurrent Audit of any Government
organisation having registered under theCompanies Act having turnover of more than 100
Crores.
100 marks
1 to 2 Project 50 marks
More than 2 Projects 100 marks
TOTAL 1000 marks