NA Tender by Employees State Insurance Corporation (esic) (d4725782)

Tender Title: Financial Audit Services - Review of Financial Statements

Reference Number: d4725782

Issuing Authority/Department

Ministry of Labour and Employment

Scope of Work and Objectives

The objective of this tender is to procure Financial Audit Services that involve a comprehensive review of financial statements, adherence to the financial reporting framework, and preparation of an audit report. The services will require an expert understanding of accounting principles and auditing standards, ensuring that the financial documentation of the ministry is transparent, accurate, and compliant with established regulations. Auditors are expected to evaluate the financial health and operational efficiency of the ministry and provide findings that may help in improving fiscal management and accountability.

Eligibility Criteria

Vendors are required to be CAG empaneled audit firms or Chartered Accountant (CA) firms to qualify for the execution of the contract. Registered entities must demonstrate their capability in financial auditing, especially within the government sector. Submission of proofs validating the vendor's experience in similar engagements will be essential for eligibility.

Technical Requirements

Proposals must include documentation that showcases:

• Proven experience in conducting financial audits for government entities.
• Copies of relevant certifications that establish the entity's qualifications (CA certificate, CAG empanelment).
• A detailed methodology outlining approach, tools, and techniques for the audit.
• Profiles of the audit team including qualifications and experience.

Financial Requirements

Bidders will be evaluated based on their financial capabilities, and details including:

• Cost estimation for the audit services, encompassing all related and indirect costs.
• Breakdown of fees for each stage of the audit process should be clearly outlined in the proposal.

Document Submission Details

Tender documents must be submitted through the designated online portal in the specified format. It is mandatory for all proposals to be complete, including all required attachments, no later than the deadline stipulated in the tender notice.

Special Provisions

Micro, small, and medium enterprises (MSEs) should be notified that there are specific benefits available to encourage their participation in this tender. Startups are also encouraged to participate under this tender initiative, aligning with government efforts to support new enterprise growth.

Evaluation Process

Proposals will undergo a multidimensional evaluation process focusing on:

• Technical proposal assessment.
• Financial proposal review to determine best value against outlined specifications.
• Compliance with eligibility and local regulations.

Delivery Locations

The services will be rendered primarily at the Ministry of Labour and Employment's designated office. The final report must also be submitted electronically as well as in printed format to ensure compliance.

Contact Information

For any inquiries regarding the tender, potential bidders are encouraged to check the official ministry website or contact the ministry’s procurement office directly for assistance. All questions must be posed through the proper channels to ensure accurate responses.