Security Printing And Minting Corporation Of India
Limited inviting for financial audit services - financial reporting framework;
ca firm, audit firm
1. NATURE OF WORK
Tender Type: Appointment of Internal-cum-Concurrent
Auditor for India Government Mint (IGM), Noida for FY 2026–27
under SPMCIL.
Work Includes:
Internal Audit:
- Cash
& bank transactions
- Sales
and revenue audit
- Bank
reconciliation
- Contractor
bill verification
- Ledger
reviews
- Fixed
asset verification
- Budget
review
- Procurement
and vendor audit
- Payroll
and employee claims
- Security
systems audit
- Labour
welfare compliance
- Inventory
audit
- Plant
& machinery audit
- Statutory
compliance
- Internal
Financial Controls (IFC)
Concurrent Audit:
- Daily
monitoring of SAP-based transactions
- Production
verification
- Inventory
checks
- WIP/FG/Scrap
reconciliation
- SAP
entries validation
- Maintenance
and dispatch checks
Frequency:
- Internal
Audit → Quarterly/Half-yearly/Yearly depending on scope
- Concurrent
Audit → Monthly and daily presence at site
Contract duration:
2. ELIGIBILITY CRITERIA
Mandatory:
Firm Registration
- CA/CMA
firm registered with ICAI or ICMAI
- Office
must be located in Delhi-NCR
Experience Requirements
- Minimum
2 Internal Audits in last 3 years for SAP organizations
- Minimum
2 Concurrent Audits in last 3 years for SAP organizations
Financial Requirement
- No
financial loss in more than one year during last 3 years
GeM Requirement
- Minimum
average turnover:
- Minimum
experience:
Technical Qualification Score
- Minimum
80% score required for financial bid opening
Maximum score = 100 points
Need minimum:
80 points
Selection parameters:
- Years
of establishment
- Number
of partners
- Qualified
assistants
- SAP
audit experience
- Manufacturing
experience
- PSU
experience
- Client
turnover size
3. FIRM REQUIREMENT
Firm must deploy:
Team composition:
Among staff:
- At
least one staff member should:
- Have
CA/CMA Intermediate/IPCC qualification
- Have
SAP knowledge
Daily deployment:
- Team
presence required on all working days at IGM Noida
Restrictions:
- Team
cannot be changed frequently
- No
subcontracting allowed
Disqualification:
- Existing
statutory auditor of SPMCIL units cannot bid
- Associated
entities of statutory auditors also disqualified
4. ADVANCE REQUIREMENT
No advance payment mentioned.
Payment terms:
- Payment
within 30 days
- After:
- Service
Delivery Acceptance Certificate (SDAC)
- Online
bill submission
Internal audit reports:
- Monthly/quarterly
reports required before payment release
EMD:
ePBG:
5. LOCATION REQUIREMENT
Firm office:
Project execution location:
India Government Mint (IGM), Noida
D-2 Sector-1
Noida, Uttar Pradesh
Audit team daily physical presence required at site.
6. CONTRACT DETAILS
Contract period:
Bid type:
- Two
packet bid
- Technical
bid
- Financial
bid
Reverse auction:
Bid validity:
Buyer may:
- Increase/decrease
scope up to 25%
Bid opening:
Bid closing:
7. FINANCIAL DETAILS
EMD:
ePBG:
Quote format:
Bidder must provide separate breakup:
Internal Audit:
- Quarterly
charges
- GST
- Total
Concurrent Audit:
- Monthly
charges
- GST
- Total
Award basis:
- L1
(Lowest total lump sum price)
Price should include:
- Travel
- Boarding
- Lodging
- Local
conveyance
- Out-of-pocket
expenses
Taxes:
Penalty:
- Absence
of deployed personnel >3 consecutive days:
- ₹50
per person/day from 4th day onward