Ref. 27/06/2018 Subject: Invitation of bids / tender for Engagement of Internal Auditors INDIAN STRATEGIC PETROLEUM RESERVES LIMITED, (ISPRL), a 100% subsidiary of Oil Industry Development Board (OIDB) invites tender from the firms of Chartered Accountants (CA) meeting the following criteria to discharge the functions of internal audit. Eligibility Criteria is furnished below : The firm should have at least two IND AS compliant clients out of which at least one assignment should be as Statutory Auditior The firm should have been empaneled with CAG for last 3 years. The firm should have at least six qualified CAs, out of which at least three should be FCA The firm should have minimum turnover of Rs I Crore during the each of last three Financial Years ending on 2017-18 The firm or any of the existing partners should have not faced any disciplinary action/disqualification from the Institute of Chartered Accountant of India (ICAI) /Comptroller and Auditor General of India during the last five years ending on 31st March’2018. The firm should have office in Delhi / NCR area and have at least two qualified Chartered Accountants stationed at that office. The scope of work of the Internal Auditor is as under: - Review and evaluation of internal control procedures / systems and providing suggestions from time to time for improvements To check the accounting and financial transactions i.e. evaluation of receipts and payment vouchers both for Capital and revenue transactions To check the bank reconciliation statement To that statutory liabilities have been discharged as per rules and requirements To check and evaluate the preparation of IND AS compliant Annual / half yearly balance sheet and Profit & Loss account and schedules/notes are in conformity with required legislation and established Accounting practices. To review capitalisation of Assets, Depreciation charged and CWIP Schedules To review the comments of CAG and providing assistance in preparation of replies thereof by both for Annual accounts and transaction audit. To ensure compliance and filling of all returns under GST Act To ensure timely filling of TDS return
Ref. 27/06/2018 Subject: Invitation of bids / tender for Engagement of Internal Auditors INDIAN STRATEGIC PETROLEUM RESERVES LIMITED, (ISPRL), a 100% subsidiary of Oil Industry Development Board (OIDB) invites tender from the firms of Chartered Accountants (CA) meeting the following criteria to discharge the functions of internal audit. Eligibility Criteria is furnished below : The firm should have at least two IND AS compliant clients out of which at least one assignment should be as Statutory Auditior The firm should have been empaneled with CAG for last 3 years. The firm should have at least six qualified CAs, out of which at least three should be FCA The firm should have minimum turnover of Rs I Crore during the each of last three Financial Years ending on 2017-18 The firm or any of the existing partners should have not faced any disciplinary action/disqualification from the Institute of Chartered Accountant of India (ICAI) /Comptroller and Auditor General of India during the last five years ending on 31st March’2018. The firm should have office in Delhi / NCR area and have at least two qualified Chartered Accountants stationed at that office. The scope of work of the Internal Auditor is as under: - Review and evaluation of internal control procedures / systems and providing suggestions from time to time for improvements To check the accounting and financial transactions i.e. evaluation of receipts and payment vouchers both for Capital and revenue transactions To check the bank reconciliation statement To that statutory liabilities have been discharged as per rules and requirements To check and evaluate the preparation of IND AS compliant Annual / half yearly balance sheet and Profit & Loss account and schedules/notes are in conformity with required legislation and established Accounting practices. To review capitalisation of Assets, Depreciation charged and CWIP Schedules To review the comments of CAG and providing assistance in preparation of replies thereof by both for Annual accounts and transaction audit. To ensure compliance and filling of all returns under GST Act To ensure timely filling of TDS return
Internal-auditor-July2018.docx