General Insurance
Corporation of India, Mumbai, Maharashtra
Request For Proposal
(RFP) For Appointment Of CA Firm For IFC Audit Assignment Of GIC Re
Address : Mumbai, Maharashtra
Email : auditteam@gicre.in
Eligibility and
Pre-Qualification Criteria
The bidder must meet
the following criteria:
- Registration: Must be a Firm registered with the
Institute of Chartered Accountants of India (ICAI).
- Experience: Minimum 5 years of firm experience.
- Turnover: Minimum turnover of ₹5 Crores in
at least one financial year out of the last three (2022-23, 2023-24, and
2024-25).
- Location: Must have a Branch/Office in Mumbai
from where operations are carried out.
- Qualification: Any partner/employee of the firm must
have a DISA (Diploma in Information System Audit) qualification.
- Assignment History:
- Completed a minimum of 1 IFC review
assignment with a listed company in the last 5 years.
- Completed a minimum of 2
statutory/internal audits of an insurance (non-life) / reinsurance
company in the last 6 years.
- Statutory Status: Should not have been
prohibited/debarred/blacklisted in the past 3 years by any regulating
authority (e.g., IRDA, RBI, SEBI, ICAI, C&AG).
- Conflict of Interest: There must be no conflict of interest,
and the firm/partner/director should not possess any place of profit in
GIC Re.
Contract Period
- Initial Period: 1 Year (for the audit of FY
2025-26).
- Renewal: The contract is renewable annually for 3 subsequent
years (i.e., up to a total of 4 years), subject to satisfactory
performance and mutual agreement, and at the same fees.