CA firms empanelment with NFRA as technical reviewers. Last date to apply online is 23.03.2020

CA firms empanelment with NFRA as technical reviewers. Applications invited. Last date to apply is 23.03.2020

Invitation of applications from firms (partnership /limited liability partnership/proprietary concern) of practicing chartered accountants for empanelment as technical reviewers (TRs) with the national financial reporting authority (NFRA)

# E-procurement portal will be opened for application after the pre-bid clarification are issued.

CA firms empanelment with NFRA 

Eligibility Criteria

An Applicant shall
(i) have minimum 5 years’ experience in audit of PIEs;
(ii). have completed Minimum two statutory audits of PIEs. Statutory Audit of the same PIE for more than one year shall count as one statutory audit for this purpose;
(iii). shall not suffer from any disqualification for being appointed as Auditor under section 141 of the Companies Act 2013
(iv) not have been subjected to any kind of disciplinary actions from the ICAI or any regulator/statutory authority in India or outside India.
(v) not have received any notice for disciplinary action/show cause from NFRA or ICAI or MCA.
(vi) Not be subject to any enquiries into misconduct or criminal proceedings by any statutory authorities or the Central or a State Government

Submission of Applications: –
The application will be submitted online as per details given in the critical date sheet and upload following scan documents along with application are as follows: –

i. Application Format 
ii. CV’s of Partner, Qualified Assistant and Semi Qualified Assistant certified by the senior partner
iii. Certified copies of Firm Registration certification.
iv. Certified copies of Appointment letter(s) of statutory audits and internal audits in Public Interest Entities, Forensic Audit.
v. Certified copies of qualification claimed 
vi. Signed and Scanned copy of PAN and TAN.
vii. Signed and Scanned copy of registration for GST
viii. Signed and Scanned copy of Partner’s resolution(s) in favour of authorized representative of the applicant.*
ix. Proofs for the eligibility and scoring criteria.

*Only one application per firm will be allowed

Marking Criteria for Shortlisting
As per attachment.

Applicant scoring a minimum of 75 marks will be eligible for empanelment, subject to satisfaction of all other criteria. The maximum number of empanelled applicants will be limited to the top ranked 10 applicants.

Team of Technical reviewer shall include at least one senior partner/ partner and one qualified assistant.

Scope of Work:
The Reviewer shall undertake the work as per the guidance and requirement of NFRA. The TR shall basically report on compliance with Accounting and Auditing Standards, abcaus.in guidelines of the ICAI and provisions of applicable statutes. The exact scope of the work will be specified in detail prior to allotment of work. It shall be the responsibility of the NFRA to obtain the relevant Audit files pertaining to the engagement taken up for review. The TR shall examine records at the NFRA office, or remotely if possible and permissible. The TR’s scope would extend to verifying, assessing and evaluating the response of the Audit Firm.

Professional Fee
Assignment of Audit engagements for each PIE or Group of PIEs will be done by NFRA from the empanelled list of TRs. The professional fees admissible in each case will be decided by NFRA subject to a maximum of Rs 2.00 Lakhs plus taxes and actuals as per Para 6.2 below, if any

Downlaod RFP Document Click Here >>

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