National Cooperative Development Corporation, 4, Siri Institutional Area, Hauz Khas, New Delhi — 110016 invites application from reputed firms of Chartered Accountant for appointment of Internal Auditor of this Corporation for the financial year 2019-20. The application may be forwarded to Director (Finance), NCDC in a sealed cover with a full brief of the firm along with professional fee to be charged for the work. The last date for receiving the application is 31st October, 2019 at 3.00 pm.
- The bid is to be submitted in two separate sealed envelopes with clear markings 1 & 2 . (1-Technical Bid & 2- Financial Bid) and both the envelopes are to be placed in third envelope. The third or outer envelope is to be superscribed as EXPRESSION OF INTEREST FOR APPOINTMENT AS INTERNAL AUDITOR.
- The Offer (duly filled in and signed) must reach the office of Director (Finance), NCDC by 3.00 PM on 31.10.2019. Technical Bids will be opened on 31.09.2019 at 4.00 PM.
- Bidders or their authorized representatives may present at the meeting held for the opening of technical bid.
- The tender should be accompanied with earnest money deposit in the form of Demand Draft in favour of National Cooperative Development Corporation payable at New Delhi. The tenders without earnest money will be rejected.
The Scope of Internal Audit will be as follows:
NCDC is a financial institution with 20 offices across India, with Head Office at New Delhi, 18 Regional Offices in different States and a Training Academy at Gurugram. The firm will be appointed for internal audit for NCDC as one unit.
- Checking of accounts maintained: The firm of internal auditors will scrutinize records to see that the accounts maintained are accurate. For this purpose internal audit will scrutinize all transactions accounted for in books with reference to initial documents like bank voucher, journal voucher, cash voucher, pay roll, files of advances given to cooperative societies and state government, records of govt. Grants, records of regional offices, records of statutory dues, work contracts etc. and checking of books of accounts like general ledgers, bank book and final accounts.
- Taxation: Calculation and verification of all statutory liabilities like Income tax, TDS on Income Tax, GST, TDS on GST and any other taxes.
- Internal control / internal check : To safeguard against defalcation and fraud, the firm of internal auditors will review the effectiveness of the internal control system on a continuing basis. Any weakness observed will be reported to management and suggestions made to remove the weakness.
- Observance of rules, regulations and proper delegation of powers: The firm of internal auditors will also check compliance with rules, regulations and accounting policies in letter and spirit. Internal audit will also bring to the notice of the management any cases of obsolete rules and procedures for rectification. Besides internal audit will see that acts done, expenditure incurred and approvals given are within the frame work of the delegation of powers.
- Observance of rules, regulations and impartiality in examination/ sanctioning of proposals: The internal auditors will review the proposals examined/ sanctioned by the Programme Divisions from the point of view of observation of funding guidelines of the Corporation, fair & impartial examination and financial propriety.
- Financial propriety/ economy & cost controls: The firm of internal auditors will review the transactions not only to check their regularity, but also from the point of view of economy and financial propriety.
- Fixed asset accounting: The firm of internal auditors will examine if the assets are properly safeguarded. Auditor will verify that assets purchased are properly entered in assets register, that the administration department conducts a periodical verification of assets and discrepancies, if any, are reported and investigated.
- Physical verification of stores: firm of internal auditors may also be entrusted with the responsibility of reviewing the report of physical verification of stores conducted by the administration department and discrepancy if any are reported.
- Management reports: Preparation/help/check in preparation of any information/ reports required by the management as and when required.
- Statutory Audit: Assistance at the time of Statutory Audit/Govt. Audit of NCDC and help in the preparation of compliance of audit reports.
Download Tender Document: Internal Auditor – Chartered Accountant of NCDC