Sub: Preparation & Compilation of Annual Accounts for the Financial Year 2011-12 and 2012-13 for review by Statutory Auditors and CAG Audit. - Opening date : 05.07.2012
INDIAN DRUGS & PHARMACEUTICALS LIMITED is looking for a dynamic CA Firm who can take up the assignment of preparation& finalization of Annual Accounts of Corporate Office and consolidation with Regions & Plants Balance Sheet for the Financial Year 2011-12 & 2012-13 (ongoing basis) immediately for the purpose of review by our Statutory Auditors u/s 619 (2) of the Companies Act. The scope of work thus extends up to interacting with the respective Internal Auditors, Statutory Auditors/Branch Auditors and Auditors of CAG till finalization of the accounts in all respects.
The following table indicates the location details of the Company:
Purview of Statutory Auditors includes audit of Accounts of Corporate Office & marketing Division (H.O) and all India consolidated Accounts.
While the purview of Branch Auditors/Unit Auditor (5) extends to audit of Delhi, Lucknow, Hyderabad, Mumbai & Kolkata RSO & 3 Plants as above.
Interaction for Internal Audit Firms will be in respect of Corporate Office and Marketing Division for the financial year 2011-12 to 2012-13 and various other units and zonal offices (appointment under process)
Business Volume: Company’s turnover for the Financial Year 2011-12 was 52 Cr. and is likely to be Rs.60 Cr. for the Financial Year 2012-13.
It is imperative that the Annual Accounts for the financial year 2011-12 &2012-13 have to be put before the Statutory Auditors by 15-08-2012 & 15-06-2013 respectively. Time being essence of such an arrangement, it is expected that firm will have to mobilize and depute sufficient teams comprising of competent and qualified personnel for expeditious finalization of Annual Accounts of 2011-12 & 2012-13. Any Inordinate delay on the part of the firm ( like not submitting consolidated accounts based on Branch/Units provisional & audited accounts within 15-20 days ) will attract suitable penalty as may be decided by IDPL management/CMD based on actual number of days delayed and the circumstances of such delays.
SCOPE OF WORK FOR THE YEAR 2011-12 & 2012-13:
IDPL Corporate Office intends to outsource its pending and current accounting work to CA Firm.
The assignment includes:
ELIGIBILITY CRITERIA /TECHNICAL DETAILS:
TERMS AND CONDITIONS:
Application need to be submitted in two separate sealed covers. One of the cover should be clearly marked boldly “Technical Details” and should contain details of the eligibility criteria/technical details with supporting Xerox Copy of documents in support of Item No. 1 to 7 & signed undertaking in support of Item No 8 of the eligibility criteria/technical details. The second cover boldly marked as “Financial Details” should include the Quotation for the Professional Fees for the year 2011-12 & 2012-13 separately. Tender Number and date of opening should also be mentioned on both the envelopes. Both the covers should be addressed to GM (F) – IDPL and should be received by 3.00 P.M. of 05.07.2012 at the following address:
“Indian Drugs & Pharmaceuticals Limited
Corporate Office, IDPL Complex,
Old Delhi – Gurgaon Road,
Dundahera, Gurgaon – 122016 (Haryana)”
(IDPL shall not be responsible for any postal delay)
4. Applications will be opened in the presence of CA Firm who may like to be present at 3.30 P.M. on the same day. The Financial Bid cover will be opened only for those firms which qualify the technical details.
5. Professional Fees will be inclusive of all expenses but exclusive of Service Tax etc. and no separate conveyance or other expenses are payable.
However, if partner of the firm or assistant is required to visit outstation units for work related to the assignments suitable travelling and other expense will be reimbursed.
6. Company reserves the right to accept or reject any or all the proposals. Decisions of IDPL would be final & binding.
7. Exit Clause: The engagement may be terminated by either side at the end of any financial year by giving 1 months’ notice in writing.
8. Payment Terms: a ) 15 % on data entry, bank reconciliation of Corporate office accounts .b) 50 % after drawing of balance sheet of Corporate office, marketing division & its consolidation along with schedules c ) 20 % after completion of Statutory Audit ( including replies d ) 15 % after completion of MAB/CAG Audit and reply of their comments.
9. Validity Period: Last date for submission of Technical & Financial bids is 05.07.2012. However, the company may seek additional information or clarification from any applicant after the last date which need to be submitted in 3 days’ time.