State Institute of Hotel Management inviting for quotation call notice for hiring of chartered accountant firm for statutory audit (part-a) and quarterly audit (part-b) of accounts of sihm, balangir.

State Institute of Hotel Management inviting for quotation call notice for hiring of chartered accountant firm for statutory audit (part-a) and quarterly audit (part-b) of accounts of sihm, balangir.

1. Nature of Work

The work involves audit services for the State Institute of Hotel Management (SIHM), Balangir:

Part A – Statutory Audit

• Annual statutory audit of SIHM accounts.
• To be completed by end of May every year.

Part B – Quarterly Audit

• Quarterly audit of accounts as per SIHM schedule.

Additional scope:

• Submit audit report with audited financial statements.
• Submit flash reports for serious irregularities immediately.
• Deploy minimum one qualified CA/Partner and adequate assistants.
• One partner must visit the audited office during assignment.

2. Eligibility Criteria

The CA firm must satisfy:

1. Be a:
• Proprietorship firm
• Partnership firm
• LLP firm
  with valid ICAI Certificate of Practice.
2. Office requirement:
• Head office or branch office must be in Odisha.
3. CAG requirement:
• Must be empanelled with CAG.
4. Experience requirement:
• Minimum 10 years experience in statutory audits of:
• Central/State PSUs
• Banking companies
• Insurance companies
5. Additional experience:
• Must have audited at least one:
• PSU
• Autonomous body
• Society
  for more than 3 years.

3. Firm Requirement

Required firm characteristics:

• Odisha office presence mandatory.
• CAG empanelment mandatory.
• Must deploy:
• 1 qualified CA/Partner
• Sufficient audit assistants
• Same staff should preferably continue until audit completion.
• Cannot subcontract work to third parties.
• All pages of quotation documents must carry seal and signature.

4. Advance Requirement

No advance payment provision exists.

Payment terms:

• Payment only after:
• satisfactory completion of audit
• acceptance of report
• bill submission
• Payment release:
• within 15 days of bill submission

Mode:

• RTGS
• NEFT
• Cheque

Statutory deductions applicable.

5. Location Requirement

Audit work location:

State Institute of Hotel Management (SIHM), Balangir

Address:

Titilagarh Road
Balangir – 767001
Odisha

Office requirement for bidder:

• Head/branch office must be in Odisha.

6. Contract Details

Contract duration:

• Initial period: 1 year
• Extendable:
• Up to additional 2 years
• Subject to satisfactory performance and approval

Termination:

• SIHM can terminate with:
• one calendar month notice
• no compensation

Subletting:

• Not permitted.

Legal jurisdiction:

• Odisha law applicable
• Disputes handled at Balangir courts.

7. Financial Details

Financial proposal requirements:

• Quote a professional fee amount.
• Fee should include:
• travel
• incidental expenses
• all audit-related costs

GST:

• Can be charged separately at prevailing rates.

Selection note:

• Not purely L1-based.
• Selection may also consider:
• experience
• number of partners
• firm capability.