Technical Education Department Chhattisgarh Tenders (c938cd81)
Financial Audit Services - Review of Financial Statements, Financial Reporting Framework; CA Firm
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Tender Title: Financial Audit Services
Reference Number: c938cd81
Issuing Authority: Technical Education Department, Chhattisgarh
The Financial Audit Services tender aims to engage a qualified Chartered Accountant (CA) firm for the comprehensive review of financial statements and the adherence to financial reporting frameworks. This initiative is under the purview of the Technical Education Department in Chhattisgarh, focusing on maintaining transparent and accountable financial processes within the department's operations.
Scope of Work and Objectives
The primary objective includes conducting a meticulous financial audit covering a thorough evaluation of financial statements. The selected CA firm will ensure compliance with applicable financial reporting frameworks and standards. This involves verifying transaction accuracy, reporting on discrepancies, and advising on improvements in financial reporting procedures. Key deliverables are expected to include:
- Detailed audit reports
- Compliance assessments
- Recommendations for financial practices improvements
Eligibility Criteria
To qualify for this tender, firms must meet several eligibility criteria, ensuring their capability and professionalism in financial services. Requirements include:
- Registration as a Chartered Accountant (CA) firm
- Experience in performing financial audits for educational institutions or government departments
- Proven record of compliance with legal and regulatory standards in financial reporting
Technical Requirements
Participant firms are to demonstrate technical proficiency related to financial audits through documented processes and methodologies. Key technical requirements include:
- Familiarity with applicable laws and regulations governing financial audits
- Adeptness in utilizing auditing software and tools
- Robust internal controls to assure quality and reliability in audit outcomes
Financial Requirements
Firms must outline their financial capabilities in terms of past project budgets and the ability to sustain financial commitments. This includes:
- Submission of recent financial statements
- Evidence of having adequate financial resources to undertake the contract
Document Submission Details
All interested bidders should prepare and submit comprehensive documentation as outlined in the tender notice. Submissions must include:
- Completed tender application form
- Relevant certificates and proof of eligibility
- Technical proposal highlighting methodology and approach
- Financial proposal itemizing costs
All documents should be submitted in the required format as specified in the tender notice.
Special Provisions
The tender encourages participation from Micro, Small, and Medium Enterprises (MSEs) and startups, promoting a competitive advantage for these entities in the contracting process. Benefits may include simplified procurement processes and reduced bidding documentation, aimed at fostering entrepreneurial growth.
Evaluation Process
The evaluation of submissions will be rigorous and transparent, focusing on both technical and financial proposals. The selection process involves:
- Shortlisting based on eligibility and compliance
- Detailed assessment of the technical methodology proposed
- Examination of financial quotes for competitiveness and value
Delivery Locations
Services will be delivered within the premises or operational areas identified by the Technical Education Department, Chhattisgarh, ensuring accessibility and responsiveness to departmental needs.
Contact Information
For inquiries regarding this tender or further clarifications, interested parties may refer to the contact details available on the official tender notice.
In conclusion, this tender provides a crucial opportunity for proficient CA firms specializing in financial audits to engage with government services, ensuring adherence to standards and contributing significantly to the transparency of financial practices in the Technical Education Department, Chhattisgarh.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
4 DocumentsDocuments Required from Seller
- Experience Criteria
- Bidder Turnover
- Certificate (Requested in ATC) *In case any bidder is seeking exemption from Experience / Turnover Criteria
- the supporting documents to prove his eligibility for exemption must be uploaded for evaluation by the buyer
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Frequently Asked Questions
The eligibility requirements for participation include being a registered Chartered Accountant (CA) firm with a proven track record in financial audits. Firms must demonstrate relevant experience specifically in the educational or governmental sectors, along with adherence to regulatory standards in financial reporting. Adequate certification and operational capabilities are fundamental to qualify for this tender.
To participate in the financial audit services tender, firms must provide relevant certificates including registration as a Chartered Accountant, proof of past auditing experience, and any industry-specific certifications that affirm their compliance with financial standards. This ensures that only capable firms with the necessary qualifications are competing for the contract.
The registration process involves presenting your firm’s documentation, including the tender application form and supporting certificates, as detailed in the tender notice. Interested parties should ensure compliance with all submission guidelines outlined in the tender documents to facilitate seamless registration and eligibility verification.
Accepted document formats typically include PDF and other specified formats outlined in the tender notice. Firms must ensure that all documentation is submitted in the required formats to avoid disqualification due to improper submissions.
The payment terms for the awarded contract generally involve milestone-based payments tied to deliverables as structured in the financial proposals. This ensures financial accountability and progress monitoring throughout the contract period, fostering a transparent payment process for services rendered.
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