Tender Title: Financial Audit Services - Review of Financial Statements

Tender Reference Number: GEM/2025/B/6141037

Issuing Authority: Ministry of Petroleum and Natural Gas

The Financial Audit Services - Review of Financial Statements tender is issued by the Ministry of Petroleum and Natural Gas to solicit qualified firms for comprehensive financial audit services. The primary objective of this tender is to ensure the integrity and transparency of the financial reporting framework. The selected firm will be responsible for performing detailed audits on financial statements, audit reports, and evaluating compliance with established financial reporting frameworks.

Scope of Work and Objectives

The scope of work under this tender includes, but is not limited to:

• Conducting a thorough review of financial statements to ascertain their accuracy and compliance with applicable laws and regulations.
• Preparing detailed audit reports that outline significant findings, discrepancies, and recommendations for improvements.
• Ensuring adherence to financial reporting frameworks as stipulated by relevant regulatory bodies.

The objective is to enhance the accountability of financial operations within the assigned departments, ultimately leading to more effective governance and management of public resources.

Eligibility Criteria

To be eligible for this tender, bidders must meet the following criteria:

1. Registration as a CA Firm or CAG empaneled audit firm.
2. Proven expertise in conducting financial audits within the public sector domain.
3. Compliance with local regulations governing audit services.

Only those who meet these eligibility requirements will be considered for further evaluation.

Technical Requirements

Potential bidders must possess the following technical qualifications:

• Extensive experience in financial audit services specific to government organizations.
• Strong knowledge of the financial reporting frameworks applicable to public sector entities.
• Ability to conduct comprehensive audits and deliver detailed reports that are clear and actionable.

Financial Requirements

Bidders are required to submit their financial proposals as part of their tender application, ensuring that all costs associated with the services are fully transparent. This includes an estimation of fees based on the complexity and anticipated scope of work.

Document Submission Details

All documents related to the bid must be submitted electronically via the designated procurement portal. Bidders should ensure that all supporting documents, including proof of eligibility and technical credentials, are uploaded before the submission deadline.

Special Provisions

Bidders from Micro, Small, and Medium Enterprises (MSEs) and startups may receive preferential consideration under government policies designed to promote economic development. This includes provisions for technical assistance and potentially favorable evaluation criteria.

Evaluation Process

The evaluation of submitted bids will follow a systematic process to ensure that all proposals are assessed fairly and transparently. The evaluation criteria will focus on the technical qualifications of the bidders, experience in similar projects, and financial bids, ensuring alignment with the objectives of the Ministry of Petroleum and Natural Gas.

Delivery Locations

The services are expected to be conducted at various locations as specified by the Ministry throughout the project duration. Bidders should be available to mobilize their resources effectively across these locations.

Contact Information

While specific contact details for inquiries are not disclosed in this document, bidders are encouraged to utilize the official procurement channels for any clarifications or additional information required regarding the tender.

This tender represents an excellent opportunity for qualified firms to engage in meaningful audit services that enhance the financial governance of governmental bodies.