Tender Title: Engagement of Chartered Accountant Firm/LLP for Internal Audit at IIM UDA

Reference Number: 1ef0391f9

The Department of Higher Education under the Ministry of Education is seeking qualified and experienced Chartered Accountant (CA) Firms or Limited Liability Partnerships (LLPs) to conduct an internal audit for the Indian Institute of Management Udaipur (IIM UDA). This tender aims to enhance the institute's financial governance and ensure compliance with various regulations through a thorough audit process.

Scope of Work and Objectives

The primary objective of this tender is to enlist a competent CA Firm or LLP to perform internal auditing services for IIM UDA. The selected firm will be responsible for:

• Evaluating the effectiveness of financial controls and reporting mechanisms.
• Assessing compliance with applicable laws and regulations.
• Identifying areas of improvement in financial processes and systems.
• Providing comprehensive reports with actionable recommendations.

Eligibility Criteria

To be eligible for participation in this tender, the following prerequisites must be met:

• Registration as a Chartered Accountant Firm or Limited Liability Partnership in accordance with the relevant laws.
• Demonstrated experience in conducting internal audits, particularly in academic or government institutions.
• The firm must possess valid certificates relevant to conducting audits and accounting practices.

Technical Requirements

Proposals must also meet specific technical requirements, including:

• Proficiency in accounting software and internal audit standards.
• Understanding of financial regulations governing educational institutions.
• Evidence of prior successful engagements in similar audits, preferably in higher education.

Financial Requirements

Bid proposals will also be examined based on financial criteria, which may include:

• A detailed breakdown of costs associated with conducting the internal audit.
• The capability to provide competitive pricing while maintaining quality service.

Document Submission Details

Interested entities must submit their proposals in adherence to the specified guidelines. The submission should include:

• A completed bid document with all necessary attestations and declarations.
• All required certificates and profiles demonstrating qualifications and experience.
• A financial proposal outlining the proposed service fees.

Special Provisions

This tender favors Micro, Small, and Medium Enterprises (MSEs) and offers advantages to startups in alignment with government policies. Eligible entities are encouraged to apply, as there may be provisions for preferential treatment during the selection process.

Evaluation Process

The evaluation of bids will be conducted under a structured process that will consider:

• Compliance with eligibility and technical requirements.
• Clarity and feasibility of the financial proposal.
• Quality of previous engagements and testimonials provided.

Delivery Locations

The services will primarily be delivered at IIM Udaipur's premises, necessitating the firm’s presence for on-site audits and discussions.

Contact Information

For further information, potential bidders can reach out to the designated contacts via the official communication channels provided upon request.

It is crucial that all interested bidders ensure they meet the eligibility criteria and technical specifications outlined in this tender before submission to facilitate smooth processing and consideration of proposals.