Madhya Pradesh Rajya Van Vikas Nigam Limited inviting of internal auditor for fy 2025-26, 2026-27, 2027-28

 Madhya Pradesh Rajya Van Vikas Nigam Limited inviting of internal auditor for fy 2025-26, 2026-27, 2027-28

1. Nature of Work

Tender Purpose: Appointment of Internal Auditor for FY 2025-26, 2026-27, and 2027-28 for Madhya Pradesh Rajya Van Vikas Nigam Ltd. (MPRVVN).

Work Includes:

• Internal audit of Head Office and Project Divisions
• Review of accounting systems
• Compliance audit (GST, TDS, PF, statutory dues)
• Bank reconciliations
• Revenue and expenditure verification
• Timber account verification
• Store and stock audit
• Payroll audit
• Asset verification
• CSR expenditure audit
• Wildlife conservation expenditure audit
• Joint Forest Management audit

Total scope covers 46 audit checkpoints.

2. Eligibility Criteria

Firm must be:

Professional Eligibility

  Chartered Accountant (CA) Firm OR Cost Accountant (CMA) Firm

Mandatory Conditions:

• Minimum 3 FCA/FCMA partners
• Minimum 5 partners
• Minimum total staff strength: 8 qualified persons (partners + paid assistants)
• Minimum 5 years of operation
• At least 1 operational office in Bhopal for last 3 years
• Registered with ICAI / ICMAI
• Minimum 3 statutory audits of Govt/PSU in last 5 years
• Minimum 3 internal audits of Govt/PSU (turnover ₹50 crore+) in last 5 years
• Average annual turnover ≥ ₹50 lakh (last 3 FY)
• Minimum 1 Peer Review Certificate in last 5 years
• No legal/criminal case
• No disciplinary penalty from ICAI/ICMAI/MCA/ROC etc.

3. Firm Requirements (Documents Required)

Submit:

4. Advance Requirements

Before participation:

Tender Fee

₹2,500 (Non-refundable)

EMD

₹25,000
(Note: Payable only by selected firm via Demand Draft)

Submission Mode

Online only via MP E-Tender portal

5. Location Requirement

Firm must have:

• Operational office in Bhopal for last 3 years

Audit locations include:

Head Office:

Bhopal

Regional Offices:

• Bhopal Region
• Jabalpur Region

Divisions:

• Vidisha-Raisen
• Sehore
• Khandwa
• Chhindwara
• Betul
• Mandla
• Sidhi
• Umaria
• Balaghat
• Seoni

Travel cost to these locations is on auditor’s own account.

6. Contract Details

Contract Period:

3 Years
(FY 2025-26 to FY 2027-28)

Extension:
Can be extended for 1 additional year

Audit Frequency:

Half-yearly

Per year:

• 1st Half (Apr–Sep)
• 2nd Half (Oct–Mar)

Start Requirement:

Within 5 days of award

Assignment Transfer:

Not allowed (No outsourcing/subletting)

Confidentiality:

Mandatory

Conflict Rules:

• Cannot hire ex-MPRVVN employees (last 5 years)
• No subcontracting allowed

7. Financial Details

Fee Structure:

Firm quotes audit fee for FY 2025-26

Same rate applicable for:

• FY 2026-27
• FY 2027-28

No price escalation allowed.

GST:

Extra as applicable

Payment Terms (per year):

• 40% after 1st half-year report
• 40% after 2nd half-year report
• 10% after Timber Account report
• 10% after statutory audit approval