IIFCL is a Government of India company set up in the year 2006 to provide long-term finance to viable infrastructure projects through the Scheme for Financing Viable Infrastructure Projects through a Special Purpose Vehicle called India Infrastructure Finance Company Ltd (IIFCL), broadly referred to as SIFTI.
IIFCL is engaged in providing long term financial assistance to commercially viable infrastructure projects with overriding priority to Public-Private Partnership (PPP) projects. The sectors eligible for financial assistance from IIFCL are as per the Harmonized list of Infrastructure Sub-Sectors as approved by the Government and RBI and as amended from time to time. These broadly include transportation, energy, water, sanitation, communication, social and commercial infrastructure. IIFCL has been registered as an NBFC-ND-SI-IFC with RBI since September 2013.
(i) Be a partnership firm of Chartered Accountants with minimum 5 (five) partners of which at least 3 (three) partners should be FCA(s). The details of each partner including experience, qualification etc., and their Registration Number with Institute of Chartered Accountants of India (ICAI) to be furnished as documentary proof.
(ii) Be registered with ICAI. (Furnish proof of valid registration/ Certificate of Practice from the Institute of chartered Accountants of India (ICAI).
(iii) At least 2 (two) partners should have a continuous association with the firm of a minimum of 3 (three) years.
(iv)Must have successfully completed at least 3 (three) Audit assignments in SAP environment in the last 7 (seven) years.
(v) Must have office in Delhi/NCR.
Scope of Work:
The responsibilities of the shortlisted audit firm will include as follows:
- Regular, systematic and timely examination/auditing of all financial transactions of IIFCL within a period of 5 (five) days of its occurrence with an emphasis to ensure accuracy, authenticity, compliance with procedures and guidelines and correct replication in the SAP System. The verification of all the financial transactions will start from the FY 2019-20 i.e. starting from 1st April 2019 till 31st March 2020. The shortlisted firm has to plan the audit in such a way that all financial transactions since 1st April 2019 are covered under the audit and simultaneously the ongoing transactions, from the date of commencement of the assignment by the firm, will be checked in near real time basis i.e. within a period of 5 (five) days of the occurrence of the transactions. Concurrent audit of transactions occurring between 1st April 2019 and the date of commencement of the assignment shall be completed within 60 (sixty) days of commencement of the assignment.
- Preparation of check lists for smooth conduct of the concurrent audit on the basis of extant circulars, guidelines, Policies, Manuals and on brief discussions with the concerned departments to understand the process flow of financial transactions. Such checklist should be exhaustive in nature covering all probable areas of financial transactions. A list of departments of IIFCL is attached at Annexure I.
- To verify/vouch and confirm the transactions to a reasonable level and report on compliance as to whether the transactions are booked under proper heads of accounts and certify that the accounting entry passed in SAP system is flowing properly in ledgers/sub-ledgers /sub accounts/ as per the accounting procedure and reflecting properly in financial statements. Any unusual item/matter on which necessary clarifications could not be given by the Departments, to be indicated.
- To verify and confirm compliance with all applicable guidelines/policies, laid down rules and circulars along with all statutory guidelines/instructions received from regulators like Reserve Bank of India (RBI), Government of India (GoI), SEBI and all concerned authorities, in respect of the flow of transaction data.
Read more details:Request for Proposal (RFP) document or information – IIFCL