8/9/2019 2013-5-HPPCL invites expressions of interest(EOI) for appointent as internal auditor for FY 2013-2014.pdf

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Expression of Interest

Himachal Pradesh Power Corporation Limited (HPPCL) invites Expressions of Interest from

firms of Chartered Accountants for empanelment for appointment as Internal Auditors for the

Financial Year 2013-14. To be eligible, the firm should have its Head office in Himachal

Pradesh and possess minimum 10 years’ experience in carrying out Statutory Audit/Internal

Audit of Companies. Interested and eligible firms may submit their bio data latest by 15th

 

June 2013. For further details logon to www.hppcl.gov.in 

Director (Finance) 

Himachal Pradesh Power Corporation Limited

(A State Government Undertaking) 

Himfed Bhawan, Panjri, (Below Old MLA Quarters), Shimla-171005.

Telefax: 0177-2633589/2633830 

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 Himachal Pradesh Power Corporation Limited (HPPCL) invites Expressions of Interest from firms of

Chartered Accountants for empanelment for appointment as Internal Auditors for its various units

which are under construction, projects under investigation, for the corporate

office and for the Design Office Sundarnagar  for the Financial Year 2013-14. To be

eligible, the firm should have its Head office in Himachal Pradesh and possess minimum 10 years’

experience in carrying out Statutory Audit/Internal Audit of Companies. Interested and eligible firms

may submit their bio data latest by 15th June 2013 giving the following information:

1. Name of the Firm.2. Firm Registration no. allotted by ICAI.3. Address of the Head Office as well as ranch Offices !if any".#. Contact Nos. !$andline and %obile".

&. 'etails of Registration with CA( Office) if any.*. 'etails of Internal A+dit and ,tat+tory A+dit of com-anies +ndertaen by thefirm d+ring last fi/e years.0. 'etails of -artners with their %embershi- Nos.. 'etails of -aid CA em-loyees of the firm with their %embershi- Nos.

7. 'etails of total staff strength of the firm.8. +rno/er of the firm.9. 'etails of e-erience as Internal A+ditors 4 ,tat+tory A+ditors of Com-anies.10. 'etail of ha/ing e-erience of woring in 5R6.

1). Time frame of Audit: 

he Internal A+dit shall be cond+cted in fo+r -hases as -er details gi/en here+nder7

Annexure “A” 

6hase 6eriod of A+dit

$ast date

for

commenc

ement of

a+dit

A+dit

'+ration

$ast date for s+bmission of a+dit

re-ort

1

1 A-ril 2813 to 38 9+ne

2813

1& A+g+st

2813

Not more

than 18

days in

each

-hase

31 A+g+st 2813

21 9+ly 2813 to 38

,e-tember 2813

1&

October

2813

31 October 2813

31 October 2813 to 31

'ecember 2813

1& 9an+ary

281#31 9an+ary 281#

#1 9an+ary 281# to 31

%arch 281#

1& A-ril

281#38 A-ril 281#

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2. Fee Structure for Internal Audit:

,r. No. 6ro:ects4;nits Amo+nt in

!in r+-ees"

1 For $arge 6ro:ects 22&884< = taes as a--licable

2 For ,mall 6ro:ects 0&884 -ayment on recei-t of each ?+arterly re-ort and the balance 28> -ayment onfinali@ation of ,tat+tory A+dit 

4) Proposed Scope of or!:A" Audit process: he internal a+ditor sho+ld ens+re as follows7 

1. Internal A+dit will ha/e to be carried o+t +nder the direct s+-er/ision of one ofthe -artners i.e. at least one -artner from the firm sho+ld himself /isit the6ro:ect4+nit assigned for Internal A+dit.2. he a+ditor shall gi/e -rior intimation of dates of a+dit to the concerned Headof the 6ro:ect4Office and to the 'irector !Finance" at the Cor-orate Office.3. he A+ditor shall ha/e a meeting with Head of the 6ro:ect4Office at the

beginning of the a+dit and finali@e the modalities and sched+le of a+dit.#. he a+ditor sho+ld ha/e final meeting with the Head of the6ro:ect4Office before closing the a+dit) disc+ss the a+dit obser/ations and obtain

the signat+re of the Head of the 6ro:ect 4Office or his a+thori@ed re-resentati/e inconfirmation of ha/ing disc+ssed the a+dit obser/ations with him.&. he a+ditor) if re?+ired) may ha/e to attend the meetings of the A+dit committeeof the oard of 'irectors of H66C$ d+ring -resentation of a+dit re-orts to theA+dit Committee. 

#" Scope and e$tent of co%era&e of internal audit:

he Internal A+ditor sho+ld wor as g+ide to de/elo- and moti/ate the staff of

H66C$ as he4she is an im-ortant tool in the hand of the management in

strengthening internal controls. he a+ditor may see re?+ired information

and e-lanations from the concerned officials4eec+ti/es for the accom-lishment of

his4her tas. he Internal A+ditor has direct and +nrestricted access to the Head

!s" of 'e-artment!s") Head of the 6ro:ect4Office and the Cor-orate Finance

Acco+nts 'e-artment. he a+ditor shall lay em-hasis on com-liance of all r+les)

reg+lations) -olicies) -roced+res) acco+nting standards) man+als) stat+tory

obligations etc. he Internal A+dit wo+ld) interalia, co/er the following o-erational

acti/ities of H66C$7

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1. Bo+ching.2. A+dit of transactions which in/ol/es eamination of s+--orting doc+ments)conc+rrence and a--ro/al from the com-etent a+thority.3. Checing of trial balance) scr+tiny of general ledger and reconciliation of eachhead of acco+nts thereof) where/er necessary) and -re-aring balance ,heet of the-eriod +nder re-ort.#. Checing of e-endit+res inc+rred with reference to the laid down -roced+res)delegation of -owers and b+dgetary -ro/isions.&. Checing of calc+lations and -ayments of stat+tory d+es and all ta relatedmatters as a--licable to H66C$ from time to time.*. o chec financial statements i.e. alance ,heet and 6$ Acco+nt !incidentalsacco+nt in res-ect of -ro:ects +nder im-lementation" with reference toacco+nting standards and /erifying whether the records ha/e been -ro-erlymaintained so as to safeg+ard the assets of H66C$.0. Ins+rance of all assets.. o see whether the stocs 4 assets ac?+ired 4 -+rchased are in ?+antitiesre?+ired for the smooth o-eration of the Office 4 de-artment.. o chec whether -hysical /erification of assets 4 stocs has been carried o+tat the close of financial year and /ariations) if any) ha/e been acco+nted for andrecorded -ro-erly.18. o chec the ban reconciliation statements.11. o chec whether the s+r-l+s f+nds of H66C$ are :+dicio+sly in/ested to getthe maim+m -ossible ret+rn.12. o chec the cash boo to ascertain whether cash in hand has been /erifiedby the com-etent a+thority at reg+lar inter/als.13. Checing of s+bsidiary ledgers.1#. o chec the listing of contingent liabilities) if any) in the notes to alance,heet.1&. o chec the calc+lations of salary and reimb+rsement bills of staff toascertain the legitimacy of -ayments and ded+ctions thereof.1*. Checing whether all liabilities against the acce-ted claims ha/e been-ro/ided for in the boos of acco+nts for the f+ll acco+nting year and /erifyingcom-liance with stat+tory obligations of em-loyer towards the em-loyees7 viz.(rat+ity) $ea/e encashment) 6ro/ident F+nd) on+s etc. ,imilar checs to bedone in res-ect of A 4 'A and claims for reimb+rsements.10. o re/iew com-liance with laid down -olicies and -roced+res in res-ect ofcalling of tenders) related a--ro/als) b+dgetary -ro/isions made and letters ofaward !$OA" iss+ed for wor contracts.1. o chec whether the tender doc+ments 4 contract doc+ments are /etted bythe legal and finance de-artments of H66C$.1. o chec whether the committees for tender o-ening and e/al+ation 4negotiations are constit+ted as -er the -rescribed norms of H66C$ and whetherthe tenders ha/e been awarded by the com-etent a+thorities.28. o /erify whether the ad/ance for wors s+ch as initial ad/ance) interim

ad/ance) mobili@ation ad/ance etc. are -aid as -er the terms of the contract 4-ro/isions of $OA and is being ad:+stedD from the r+nning bills -ro-erly and

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reg+larly. Also to chec whether the escalation bills are being -aid as -er theterms and form+lae gi/en in the $OA

 

21. Ehether -ro/isions of -enalty 4 damages 4 com-ensation 4 $' cla+ses arebeing in/oed as -er the $OA.22. o /erify the /alidity (s obtained from -arties to whom the wor isawarded23. o /erify whether (s are e-t in safe c+stody of com-etent a+thority andwhether related records are -ro-erly maintained.2#. o /erify whether the -roc+rements ha/e been made after com-letion of allformalities -rescribed by H66C$ and whether a--ro/als of com-etenta+thorities ha/e been obtained.2&. o chec whether the stationery A stocs ha/e d+ly been acco+nted for as-er acco+nting standards and whether records ha/e been -ro-erly maintainedto ens+re safeg+ard of s+ch stocs of H66C$.2*. o /erify whether the f+nds ha/e been +nnecessarily bloced d+e to ecess-roc+rements.20. Checing of g+est ho+se 4 transit cam- registers.2. o ens+re that