ICAI inviting application for Internal Audit of its regional offices-branches. Online application to be made latest by 10/05/2018 up to 1600 hours.
Notice Inviting Expression of Interest for engagement of Chartered Accountants Firms for Internal Audit of various units of the Institute of Chartered Accountants of India (ICAI)
[Announcement No. EOI/IA/2018-19 Dated 01/05/2018]
ICAI has invited applications for internal audit of its offices/branches for FY 2018-19. The eligible Chartered Accountants firms shall be appointed as Statutory Auditors for various units (i.e. Branches, Decentralized Offices and Regional Councils) of the ICAI.
The basic eligibility Criteria for selection of CA Firms is as under:
| S. No. | Categories | Basic Criteria |
| 1. | Regional Councils, Decentralized Offices and Branches located at Decentralized Offices | > Firm with a minimum of 5 partners of which at least 2 partners should be FCAs.
> Firm’s standing should be of at least 10 years. > The firm should have minimum Statutory Audit experience of 5 years in public sector undertakings / banks branches. > At least two partners should have a continued association of 5 years or more with the firm. > Head Office of firm should be located at the concerned district/city. |
| 2. | Branches | |
| • | having membership strength more than 1000 (other than branches located at Decentralized Offices) | > Firm with a minimum of 3 partners of which at least 1 partner should be FCA.
> Firm’s standing should be of at least 7 years. > The firm should have minimum Statutory Audit experience of 5 years in public sector undertakings / banks branches. > Head Office of firm should be located at the concerned district/city. |
Also, the GST Registration of the CA firm is a must.
The auditor shall review the existence and effectiveness of control system(s) and report on the adequacy of those controls, as well as, deficiencies, if any. The primary focus shall be on propriety aspect in addition to authorization, internal control, reconciliation, recording, safeguarding and valuation aspects.
The audit report shall be submitted on quarterly basis within one month from the close of the respective period.
The fee for the Inter Audit shall be as under:
| Regional Councils | Rs. 75000 |
| Decentralized Offices and Branches located at Decentralized Offices | Rs. 66000 |
| Branches having membership strength more than 1000 (other than branches located at Decentralized Offices) | Rs. 33000 |
The fees shall be inclusive of out of pocket expenses. No TA/ DA or out of pocket expenses shall be paid. However, the fees shall be exclusive of GST and shall be paid on submission of final audit report.
Interested firms of Chartered Accountants which meet the pre-qualification criteria may furnish their Expression of Interest at the following link:
The application for the said assignment shall be accepted only through the above link and should be submitted latest by 10/05/2018 up to 1600 hours.
Queries, if any, in this regard may be sent to internal.audit@icai.in. Any communication other than email will not be entertained. The last date for receipt of queries regarding submission of expression of interest is 08/05/2018 up to 1600 hours.
Download details of EOI Click Here >>
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