ToR for Chartered/Cost Accountant Firms at District/City Health Societies Odisha FY 2024-25
Terms of Reference (ToR) for the Chartered / Cost Accountant Firms applying for undertaking monthly concurrent audit accounts records at the Odisha State Health and Family Welfare Society (OSH&FWS), District Health Societies and City Health Societies in Odisha for the year 2024-25
Eligibility criteria
The firm must have been empanelled with the Institute of Chartered Accountants of India (ICAI) or Institute of Cost Accountants of India (ICAI) as the case may be for at least five years as on 01 January 2024 and should have at least equal years of auditing experience on that date.
The firm must have undertaken at least 6 (six) assignments of statutory audit (Financial)/ cost audit as applicable to the firm) in corporate sector other than audit of Branch and or Division accounts of banking and insurance companies during last three years (2020-21, 2021-22 and 2022-23.
The firm must have undertaken at least six (6) assignments of audit of accounts of organizations in the social sector relating to the years (2020-21, 2021-22 and 2022-23).
The firm should have an average turnover ofRs.10 lakh in the last 3 years i.e., (2020-21, 2021-22 and 2022-23).
The firm should have Income Tax Return acknowledgement for the Assessment year 2021-22, 2022-23 and 2023-24.
Important Dates:
(i) Last date for collection of RFP from Office of SHS /DHSs: 12 March 2024 (4 PM)
(ii) Pre-bid conference: 18 March 2024 (3.30 pm)
(iii) Last date for submission of Proposal to SHS and DHSs: 9 April, 2024 (3 pm)
(iv) Date of opening of Technical bid: 9 April, 2024 (4 pm)
Method of selection of firm
The selection will be done using Quality-cum-Cost Based System (QCBS) process, 70 per cent weightage would be given to the technical evaluation and 30 per cent weightage would be given to financial bid. The firm securing highest mark in the QCBS process would be awarded the assignment. However, in case of more than one firm securing the highest mark, then the selection would be made on the marks secured in the Technical evaluation. However, if there is a tie in technical mark among the above firms, the firm conducting audit of accounts of more number of Government agencies / Societies during 2020-21, 2021-22 and 2022-23 would be given preference in selection. For evaluation purpose, audit of more than one agency/ society of the same type conducted on the basis of one offer letter/year would be treated as one agency/ society. If still there is a tie, then the firm having highest aggregate turnover in last 03 (three) years i.e. 2020-21, 2021-22 and 2022-23 would be selected for the assignment.
The firms should submit their Technical and Financial bids in separate sealed envelopes and both the envelopes are to be packed inside one sealed envelope indicating ‘Technical Proposal’ and ‘Financial Proposal’ on top of the respective envelopes. The Financial Proposal is also to be marked as ‘DO NOT OPEN WITH TECHNICAL PROPOSAL’. Similarly, the outer envelope is to be superscripted with ‘Request for Proposal for Concurrent Audit 2024-25 – TO BE OPENED ONLY IN THE PRESENCE OF THE AUDIT COMMITTEE’.
A firm has to secure at least 60 per cent of marks out of 100 in Technical bid to qualify for the financial bid.
A firm cannot be assigned concurrent audit of more than 3 (three) Health Societies of the State Including the State Health Society for the year 2024-25.
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