Electronics Corporation Of India Limited Financial Audit Services- As per The Attached Document, CA Firm

Electronics Corporation Of India Limited Financial Audit Services- As per The Attached Document, CA Firm

Nature of Work
Appointment/Empanelment of Internal Auditors for ECIL (Head Office Hyderabad and Branches) for FY 2026–27. Work includes:

• Internal audit of ECIL Head Office and branches.
• Quarterly audit and reporting.
• Review of:
• Revenue recognition
• Receivables and payables
• Inventory and materials management
• Vendor payments
• Payroll and statutory compliance
• Fixed assets verification
• Banking and treasury
• Internal financial controls (ICoFR)
• Branch office audits
• Submission of quarterly audit reports and certifications.

Eligibility Criteria

The audit firm must:

1. Have registered Head Office in Hyderabad/Secunderabad.
2. Be an Indian CA firm (Partnership/LLP) active for minimum 10 years.
3. Have minimum 20 semi-qualified audit assistants.
4. Have experience auditing manufacturing PSUs with turnover above ₹1000 crore within the previous 7 years.
5. Have valid Telangana GST registration.

Firm Requirement

Required staffing and organizational requirements:

• Minimum staffing:
• 1 Qualified Assistant (Audit Manager)
• 10 Semi-qualified Assistants for each audit quarter
• Must maintain continuity of audit team.
• Team members should possess valid firm IDs.
• Must submit security approval details of proposed staff.
• No subcontracting allowed.
• Firm cannot simultaneously be ECIL's statutory or cost auditor.

Advance Requirement

• No advance payment under any circumstances.
• Vendor advances, departmental advances and imprest are subject to audit verification only.

Location Requirement

Head office requirement:

• Registered Head Office must be in:
• Hyderabad/Secunderabad

Audit locations include:

• ECIL Corporate Office: Hyderabad, Telangana
• Branches:
• New Delhi
• Mumbai
• Kolkata
• Chennai
• Bangalore
• Tirupati

Audit must be conducted physically (not online).

Contract Details

• Initial contract period: FY 2026–27
• Extension possible:
• Additional 2 years based on satisfactory performance
• Maximum continuous tenure:
• 3 years
• Annual fee escalation:
• 5% increase for FY 2027–28 and FY 2028–29
• Termination:
• ECIL can terminate for breach/default with written notice.

Financial Details

• Estimated Tender Value:
• ₹7,15,000
• Earnest Money Deposit (EMD):
• Nil
• Tender document fee:
• Nil
• Payment terms:
• 100% quarterly payment after completion of Audit Committee meeting
• Payment within 30 days after invoice submission
• GST paid after GSTR-2A confirmation
• No reimbursement for:
• Travel expenses
• Hotel expenses
• Dearness allowance
• Out-of-pocket expenses
• TDS and statutory deductions applicable