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

Tender Reference Number: 9d63993f
Issuing Authority: Department of Higher Education, Ministry of Education

The tender aims to secure the services of a qualified Chartered Accountant Firm or LLP to conduct a thorough internal audit at the Indian Institute of Management Udaipur (IIM UDA). The chosen firm will be responsible for reviewing financial records, assessing compliance with existing laws, and evaluating the efficiency and effectiveness of financial operations. This tender presents a critical opportunity for firms with expertise in accounting and auditing services to provide their value to the education sector in India.

Scope of Work and Objectives

The primary objectives of this tender include:

• Conducting a comprehensive internal audit of financial statements and records.
• Ensuring adherence to regulatory and compliance standards.
• Providing insightful recommendations for financial management improvement.
• Preparing audit reports detailing findings and suggestions for IIM UDA management.

Eligibility Criteria

To be eligible to participate in this tender, firms must meet the following requirements:

• Must be a registered Chartered Accountant Firm or Limited Liability Partnership (LLP).
• Proven track record in conducting internal audits in educational or government institutions.
• Membership in relevant accounting bodies and possession of necessary certifications.

Technical Requirements

The technical requirements for participation in the tender include:

• Robust experience in auditing practices, with a focus on educational institutions.
• Ability to provide qualified auditors who meet the standards of professional excellence.
• Demonstrated capacity to complete audit assignments within stipulated timelines.

Financial Requirements

Firms should be financially stable and possess adequate resources to carry out audit responsibilities. Financial statements and other pertinent documentation must be submitted to substantiate this requirement.

Document Submission Details

Participants must submit their proposals in the required formats as specified in the tender documentation. Essential documents include:

• Profile of the firm, including past audit experiences.
• Copies of relevant certifications.
• Detailed pricing structure for the audit services proposed.

Special Provisions

Preference may be given to Micro, Small, and Medium Enterprises (MSEs) and startups as part of the government's initiative to promote local businesses. Relevant documentation should accompany bids to avail of these benefits.

Evaluation Process

The evaluation will adhere to a structured process comparing technical capabilities, financial proposals, past performance, and compliance with eligibility criteria. A panel of experts will assess submitted proposals to ensure thorough and impartial evaluation practices.

Delivery Locations

The audit services will primarily be conducted on-site at IIM UDA, with necessary coordination among the selected firm and the institute's financial department for effective execution of the audit.

Contact Information

For any clarifications or queries regarding the tender document or submission processes, potential bidders are encouraged to directly reach out to the Department of Higher Education through the channels provided in the tender announcement.