National Institute Of Technical Teachers Training And Research inviting for financial audit services - review of financial statements, financial reporting framework, audit report, ad per tender document; ca firm
1.What
is the work
Service:Financial
Audit Services – Review of Financial Statements, Financial Reporting Framework
& Audit Report
Audit
type: Internal Audit (as per tender document)
Who
can bid: CA Firms only
Scope
and frequency are strictly “as per tender document” (ATC driven)
This is a serious institutional audit, not a routine compliance job.
2.Contract period & Estimated value
1
year
Buyer
can vary scope/duration by ±25%
₹5.40 lakh (lumpsum/project based)
3. Bid structure
Two-Packet
Bid (Technical + Financial)
Reverse
Auction: No
Selection method: QCBS (Quality & Cost Based Selection)
4.QCBS
Weightage
Technical:
70
Financial:
30
Minimum
technical qualifying marks: 60
Price alone will NOT win — technical strength matters more.
5.Eligibility
conditions (STRICT)
Turnover-₹20
lakh average annual turnover (last 3 years)
Experience
Minimum
7 years experience
Similar
audit work for Central / State Govt / PSU
Three
Similar work criteria (any ONE)
3
works ≥ 40% of estimated value
OR
2 works ≥ 50%
OR 1 work ≥ 80%
No relaxations
No MSME benefit
No Startup benefit
This is open but tough.
6. EMD & Performance Security
EMD:
₹15,000
Exemption
only if eligible MSE service provider with valid documents
Performance
BG (ePBG):
3%
of contract value
14
months
Bank:
SBI
Beneficiary: Director, NITTTR Kolkata
7. Technical evaluation (VERY IMPORTANT)
Seven
technical parameters
Each
has cut-off marks
Miss
even one cut-off → financial bid not opened
Interview
& presentation are part of evaluation
This is not a paper-only bid — performance matters.
8. Heavy documentation required
You
must upload:
Experience
proofs
Turnover
proof
ICAI
firm certificate
OEM
Authorisation & OEM turnover (odd but mandatory)
4
additional ATC documents
Any document missing = straight rejection
9. Risk & red-flag points
High
experience requirement (7 years)
QCBS
+ interview → subjective evaluation
OEM
clauses unusual for CA services
ATC
overrides general GeM conditions
Strong local/established firms likely competitors
10. Who should bid
Well-established CA firms (7+ years)
Experience with educational institutions
/ Govt bodies
Strong partners & presentation
capability
Comfortable with interviews & QCBS
scoring