Notice Inviting Tender for Engagement of Cost Accountant Firm for Performance Audit Work in Ashok Travels and Tours

India Tourism Development Corporation Limited

Notice Inviting Tender for Engagement of Cost Accountant Firm for Performance Audit Work in Ashok Travels and Tours 

1. Tender at a Glance

·         Organization: India Tourism Development Corporation Ltd. (ITDC)

·         Unit: Ashok Travels & Tours (ATT)

·         Nature of Work: Performance Audit

·         Who can bid: Cost Accountant Firms (CMA) only

·         Tender Ref: ITDC/ATT/2025-26

·         Bid Mode: GeM (e-Tender)

·         Last Date: 31-12-2025, 4:00 PM

·         Bid Validity: 120 days

2. Objective of the Tender

ITDC wants an independent performance audit of ATT’s:

·         Ticketing operations (online & offline)

·         GSA (General Sales Agent) transactions

·         Revenue, commission, PLB & incentives

·         Receivables, reconciliations & internal controls

📌 This is not a routine statutory audit — it is a deep-dive operational + financial performance audit.

3. Period of Audit

·         FY 2019–20 onwards till last declared quarterly results

·         Earlier years may be added if required (with approval)

4. Staffing Requirement (Very Important)

You must station staff in Delhi:

⚠️ Under-staffing = risk of rejection or penalties.

5. Payment Terms

·         10% – Interim report (latest quarters)

·         40% – Interim report (FY 2019–20 to Oct-24)

·         50% – Final audit report

·         No advance payment

·         Penalty: 1% per week delay (max 10%)

6. Pre-Qualification

You must meet ALL of these:

Statutory

·         Registered CMA firm (ICMAI)

·         Minimum 5 years continuous practice

·         PAN & GST registered

·         CAG empanelled (FY 2024-25 or 2025-26)

Experience

·         7+ years relevant audit experience

·         At least 3 companies audited

o    2 listed companies

o    1 listed PSU (mandatory)

Manpower

·         Minimum 5 partners

·         At least 2 FCMA partners

·         2 partners with 5+ years continuous association

Financial Strength

·         Average turnover > ₹50 lakh (last 3 years)

7. Financial & Security Requirements

EMD

·         ₹37,800

·         NEFT / RTGS

·         MSME (Micro/Small) → Exempt

Performance Security

·         5% of contract value

·         Bank Guarantee (valid 90 days beyond contract)