Appointment of Cost Audit Firms for conducting Cost Audit of NFL for the year 2017-18.

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Appointment of Cost Audit Firms for conducting Cost Audit of NFL for the year 2017-18.

Appointment of Cost Audit Firms for conducting Cost Audit of NFL’s Nangal, Bathinda, Panipat and Vijaipur-I & II units and Consolidation of Cost Audit Reports of all the five units for the year 2017-18.

Scope of Work and Time Schedule

  1. To conduct Cost audit of the five manufacturing units at Nangal, Bathinda, Panipat and Vijaipur-I & II in accordance with the provisions of the Companies (Cost Records and Audit) Rules 2014. Cost audit shall be in adherence to the relevant orders/clarification issued by Cost Audit Branch, Ministry of Corporate Affairs, Govt, of India and the Cost Accounting Standards issued by the Institute of Cost Accountants of India, from time to time.
  2. Cost audit team should consist of adequate number of qualified/semi-qualified assistants (Cost Accountants) led by a senior partner of the Firm so as to be commensurate with cost audit work requirements.
  3. Verification and certification of cost proforma maintained by the Company as per Companies (Cost Records and Audit) Rules, 2014 and Companies (Cost records and audit) Amendment Rules 2016.
  4. Verification and certification of annexures to the cost audit report.
  5. Cost audit firm so appointed shall commence cost audit and submit report by 31st July of every year as per Companies (Cost Records and Audit) Rules, 2014 and relevant orders/clarification issued by Cost Audit Branch, Ministry of Corporate Affairs, Govt, of India and the Cost Accounting Standards issued by the Institute of Cost Accountants of India, from time to time.
  6. The cost audit firm shall ensure submission of cost audit report and annexures to the cost audit report along with their reservation(s) or qualification(s) or observation(s) or suggestion(s), if any.

Detailed Terms & Conditions

  1. For Cost Audit of Vijaipur-I & II units, assignments shall be given to one firm only and parties are requested to give single quote for Vijaipur-I & II units. However, Firm has to issue separate Cost Audit Report for both the plants.
  2. Cost Auditor Firm based in Delhi that was incorporated earliest among the bidders shall be appointed as Lead Cost Auditor and shall be assigned the work of consolidation of Cost Audit Report of the company as a whole. The fee for the same shall be Rs. 15000/- in addition to the Cost Audit fees. However, firm once appointed as Lead Cost Auditor will not be appointed as Lead Cost Auditor for next 3 years.
  3. Financial bid should be for Cost Audit for the year 2017-18 only.
  4. In Financial Bid, only professional fee excluding Service Tax for conducting Cost Audit are to be quoted.
  5. Should there be a tie in the quotations received from different bidders; preference would be given to the Firm that was incorporated earliest among the bidders.
  6. NFL retains the right to negotiate with all or any of the bidders.
  7. All the pages of the proposal document shall have to be signed by the applicant firm(s) with the firm’s seal and documents submitted along-with the offer shall also have to be authenticated by the authorized signatory of the applicant firm(s) with the firm’s seal.
  8. The proposal should be submitted strictly as per the terms & conditions laid down in the document.

Bid Submission End Date June 07, 2017 03:00 PM

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Notification

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