Chennai
Metro Rail Limited inviting for financial audit services - review of financial
statements, financial reporting framework, audit report; audit firm, ca firm,
cag empaneled audit or ca firm
1. Who
issued it?
Chennai Metro Rail
Limited (Govt. of India + Govt. of Tamil Nadu JV)
- Tender Type: National Competitive
Bidding (NCB)
- System: Single Stage — Two Envelope
(Technical + Financial)
- Platform: GeM Portal
2. What is
the work?
Provide Internal Audit
services for entire CMRL operations and projects.
Includes auditing:
Finance & Accounts
- Books of accounts
- Payroll
- Bank reconciliations
- Capitalization of assets
- Financial controls
Compliance
- GST, TDS, PF, ESI, Income tax
- Companies Act, FEMA, Labour laws
- Statutory filings
Operations &
Projects
- Contract invoices
- Stores & materials
- O&M activities
- Asset verification
Risk & Governance
- Fraud detection systems
- Internal controls
- Policy compliance
- ERP implementation support
3. Scope
Details
The audit must cover:
Financial &
Operational Checks
- Project & O&M invoices —
Quarterly
- Quarterly financial statements
- Bank reconciliation — Fortnightly
- Fixed deposits, balances — Monthly
Physical Verification
- Cash — Surprise checks
- Fixed assets & inventory —
Half-yearly
Statutory Compliance
Review
- GST, TDS, PF, ESI, Labour cess
- Foreign remittance compliance
- Companies Act & FEMA
Department Audits
Audit of all units
including:
- HR & Administration
- Stores & Depots
- Stations
- Legal & Secretarial
- Consultants
- Vigilance
- Technical departments
4. Who can
apply? (Eligibility)
Minimum requirements:
At least 3 full-time
partners (ICAI/ICMAI members)
Firm turnover ≥ ₹10
crore (each of last 3 years)
Firm existence ≥ 5 years
At least 2 large audit assignments (₹50+
crore entities)
Functional office in Chennai for ≥ 3
years
5. Important
Dates
- Pre-bid meeting: 10 Feb 2026 — 3:00
PM
- Last date to submit bid: 2 March
2026 — 3:00 PM
- Technical bid opening: 2 March 2026
— 3:30 PM
6. EMD (Bid
Security)
- ₹50,000 (via NEFT/RTGS)
- Exempt for MSEs with Udyam
registration
7.How
Selection Works (Very Important)
Step 1 — Technical
Evaluation
Score based on:
- Partners
- Staff strength
- Firm turnover
- Experience with large entities
- Infrastructure/metro experience
Minimum technical score
required: 75 / 100
Step 2 — Financial
Evaluation
Only technically
qualified firms considered.
Final Selection Method —
QCBS
- Technical score weight: 60%
- Financial score weight: 40%
8. Staffing
Requirement
Firm must deploy:
- Senior Audit Manager (CA)
- At least 2 audit
assistants/articles
- Continuous presence (≈30 days per
quarter)
9. Reporting
Requirements
- Quarterly audit reports
- Consolidated report each quarter
- Immediate reporting of fraud or
serious issues
- Reports to Audit Committee via
Director Finance