Food Civil Supplies and Consumer Affairs Department inviting forn financial audit services - audit report, financial reporting framework, review of financial statements; ca firm.
1.What is the work
Service: Financial Audit Services – Statutory Audit
Scope includes:
Statutory audit & audit report
Review of financial statements
Financial reporting framework
Fraud investigation & deterrence
Compliance with laws & contracts
Internal control over financial reporting
Bank transactions
Governance review
Who can bid: CA Firms only
This is not a light review — it is a full statutory + compliance audit.
2.
Contract period & Estimated value
2 years
No post-audit support mentioned
₹5,00,000 (lumpsum/project based)
Buyer has set a minimum floor price →
you cannot quote below it
3.
Bid structure
Two-Packet Bid (Technical + Financial)
Reverse Auction: No
Evaluation: Lowest price (above floor price)
4.Eligibility
(STRICT – no relaxations)
Turnover - ₹20 lakh average annual turnover (last 3
years)
Experience
Minimum 3 years experience
Must be in similar Govt / PSU audit work
Three Similar work (any ONE)
3 works ≥ 40% of estimated value
OR 2 works ≥ 50%
OR 1 work ≥ 80%
No benefits at all
No MSE relaxation
No Startup relaxation
No MSE purchase preference
5.Firm manpower & structure
All key requirements are as per ATC (buyer document)
Expect:
Minimum partners
Qualified staff
Relevant audit experience
Miss even one ATC condition = rejection
6.Heavy documentation required
You must upload:
Experience certificates
Turnover proof
ICAI firm certificate
OEM Authorization Certificate (odd but mandatory)
4 additional ATC documents
Signed Integrity Pact
This is a document-heavy tender.
7. Selection logic
Technical qualification
Financial comparison
Lowest bidder above floor price wins
(No reverse auction safety net.)
8. Risk
Floor price fixed → no aggressive under-quoting
OEM authorization clause is unusual for CA services
No MSME protection
Integrity Pact mandatory (compliance risk)
ATC overrides almost everything
9. Who should bid
Well-established CA firms
Prior statutory audit of Govt bodies / PSUs
Strong compliance & documentation
capability
Comfortable with tight margins but
stable work