Appointment of Auditor for conducting GST audit of Oriental Bank of Commerce. Last date for submission – 01.08.2018
Request for Proposal for Appointment of Auditor for Conducting GST audit of the Bank.
The Successful Bidder shall be the single point of contact for all services offered, as described in the scope of work, and will be fully responsible for the overall delivery, Audit management and co-ordination with different stakeholders as specified in sections below. OBC’s management intends to appoint a Auditor for conducting GST audit of the Bank.
This Contract is for the FY 2017-18 and expected to start in August 2018 and be completed by the due dates as given in GST Act for the FY 2017-18. The term may be extended by further periods, solely at the discretion of Oriental Bank of Commerce, only on satisfactory review for each period as may be decided by the Oriental Bank of Commerce. The increase in remuneration will be mutually agreed for the extended period but with a cap of 10% of existing remuneration.
Eligibility Criteria
Criteria for Eligibility Compliance are given in below table:
| S.No. | Eligibility Criteria | Supporting Documents |
| 1 | The firm of Chartered Accountants/Cost Accountants having a turnover of at-least Rs. 50 Crores in FY 2016-17 & FY 2017-18 and having implementation experience in a NBFC having a Balance Sheet size (i.e Asset side Total) of Rs. 1 Lakh crore as on 31.03.2018. Implementation experience of full time affiliate firms/LLP will be considered | Certified copy of registration Certificate issued by Registrar in case of LLP.
Certified copy of Partnership deed in case of Partnership firm and MOU in case of LLP’s Letter of appointment for implementation service, engagement letter, reference letter from the concerned NBFC in favour of the Firm or full time Affiliate firm/ LLP. If experience of Full time Associate Firm/LLP is being used, Certificate from Company Secretary / Chartered Accountant about full time affiliation has to be submitted. Turnover Certificate from a Chartered Accountant for FY 2016- 17 & 2017-18. |
| 2 | The bidder should not have been barred/ black listed disqualified by any regulators / statutory body in India. | Self-Declaration on Bidder’s letter head signed by the authorized signatory |
| 3 | Application fee | Rs.10,000 Plus GST by way of demand draft in favour of Oriental Bank of Commerce payable at Gurugram. |
Detailed Scope of Work
As per the requirement of GST Act, the bank is having registrations in 31 states. The auditor is required to carry out audit for FY 2017-18 under section 35(5) of CGST Act, 2017 read with Rule 80 for all 31 registrations and to issue separate audit report / statement as prescribed under GST Act for each registration. Entire audit activities is to be carried out centrally at Corporate Office, Gurugram as the bank is having centralized mechanism for compliance under GST. However, if required, the auditor may visit the branches / offices of the Bank in connection with the audit. No TA/ DA shall be reimbursed to the auditors.
The Auditor will be required to issue Audit report, Certificates as per the requirements of the GST legislation as per the timelines fixed the Bank for timely compliance of the GST legislations.
The proposal submitted by the bidders shall, therefore, be evaluated on the following criteria:
| S.No. | Evaluation Parameters | Indicative Marking | Maximum Marks |
| 1 | Standing of Firm/LLP a. Minimum of 10 Years Practice (including the period wherein the Co. / Firm / LLP had undergone an organization status change for e.g. conversion from Pvt. Ltd. to LLP). b. 1 Marks for each completed year of practice for more than 10 years subject to maximum of 5 Marks. |
10
5 |
15 |
| 2 | Experience in GST Implementation Contracts in Scheduled Banks having a minimum of 500 Branches as on 01.04.2017, NBFC with Total Assets of Rs.1Lakh Crore as on 31.03.2018.
a. Minimum Contracts with at least 1 such Bank or NBFC b. For Implementation / compliance / advisory Contract relating to GST / Service tax with scheduled Banks or NBFC which has presence in more than 5 States in India as on 31.03.2018 ( 5 marks per Bank or NBFC subject to maximum of 10 |
20
10 |
30 |
| 3 | Key Resources
a. The Firm/ LLP Should have at least 2 full time Partners. b. 2 Marks for each additional fulltime Partners. |
10
10 |
20 |
| 4 | Presentation | 30 | |
| 5 |
Domain Knowledge in Information technology At least 1 Partners /Qualified CA’s Staff should have passed DISA/CISA and have adequate knowledge in information used in Banks |
5 |
Performance Bank Guarantee
The Successful Bidder will furnish an unconditional and irrevocable Performance Bank Guarantee (PBG) which shall be 15% of the Purchases prices for Contract duration including claim period of 6 (six) months, validity starting from its date of issuance. The PBG shall be submitted within 15 days of the PO from the Bank.
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