Appointment of Internal Auditors for HGML for the FY 2016-17.

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Engagement of Internal Auditor for Mysore Minerals Limited

Tender for Appointment of Internal Auditors for Hutti Gold Mines Company Limited (HGML) for the FY 2016-17.

The Hutti Gold Mines Company Limited (HGML), a Government of Karnataka Undertaking (establishment in 1947 as Hyderabad Gold Mines) has the unique distinction of being only the producer of primary gold in the country. HGML has been active in the process of exploration, development and exploitation of gold deposits occurring in Karnataka and its Corporate Office is situated in Bengaluru. The HGU currently processes the ore from the Mines at Hutti and two satellite mines at Uti and Hira-Buddinni underground mines.

SCOPE, EXTENT AND COVERAGE OF AUDIT OF HUTTI, CHITRADURGA AND REGISTERED OFFICE, BANGALORE

Underground

  • Review and verification of incentive payments including calculations , thresholds etc.,
  • Review and check of awards and incentives
  • Review of production records including operating efficiency of ore hoisting
  • Review of ore stock records
  • Verification and reporting of consumption of major inputs, in comparison with standards
  • Utilization of major Machinery & equipment

Metallurgy

  • Review and check of Gold Bar Books
  • Review and check of Monthly Gold Production Records/dispatch/stock & sales reconciliation with Finance records
  • Review and check of smelting Records
  • Check of Cyanide Consumption and Gold Production Registers
  • Consumption of Grinding media balls& Liners with reference to standards / norms
  • Review and check of recovery of gold
  • Review of monthly reports regarding the Ore treated, concentrate and cyanide gold recovered with reference to all relevant registers maintained at the Units

Monthly review of operating efficiency of ore processing

  • Review and verification of incentive payments including calculations , thresholds etc.,
  • Review and check of awards and incentives
  • Review of production records

Engineering

  • Review the cost of the power, generation of electricity, and compare with purchase of power from outside agencies. Reconciliation with finance records
  • Review of utilization of machinery and to report on idle machinery
  • Review of installation and commissioning of machinery
  • Review of contracts entered into with various parties in respect of transport of mine ore from several mine heads and to ensure that the payments are made in accordance with the contract and that the penalty is levied as per the terms agreed into. Reconciliation with finance and purchase records
  • Review of utilization of fleet of vehicles, comparison of cost of operation vis-a-vis contract transportation
  • Checking of Vehicle Log books and consumption of fuel
  • Operating efficiency of ore Manpower deployment for various works / departments
  • Review and verification of incentive payments including calculations , thresholds etc.,
  • Review and check of awards and incentives

Purchase / Stores

  • Review the system of purchases, listing of vendors, vendor rating, system of preparation of comparative statements
  • Review of purchase files relating to capital equipment and other materials
  • Review of slow-moving/non-moving/unserviceable/obsolete/surplus stores
  • Audit of all purchase vouchers
  • Physical verification of stores
  • Review of Inventory control
  • Review of issue of stores
  • Review of timely recovery of advances. Reconciliation with finance records
  • Review of contracts entered into with various parties in respect of transport of mine ore from several mine heads and to ensure that the payments are made in accordance with the contract and that the penalty is levied as per the terms agreed into
  • Consumption of major inputs such as steel items, cements
  • Materials issued to other units and reconciliation

Finance

  • Review of monthly operational cost sheets and to report reasons for wide variations
  • Review the expenses incurred and apportion/accounting on the development of each section of mine
  • Audit of all cash and bank payments
  • Audit of journal vouchers
  • Checking of payments against weekly release of funds from Regd. Office
  • Check of postings in general ledger and other related records
  • Audit of all claims receivable, analysis, and age wise details
  • Inter-unit – accounts (i.e. RO, CGU, HB, UTI & Projects)
  • Audit of Salary, TA and other benefits to employees
  • Compliance with various Statutory Laws like Sales Tax, Income-tax and other laws
  • Review of Income-tax deduction and their remittances
  • Checking of Bank Reconciliation and other Reconciliation statements
  • Review of cost records
  • Review of Cash Management
  • Review of Budgetary Control system
  • Review of Insurance
  • Review of Advances paid to suppliers and others
  • Review of Significant Account Policies with respect to maintenance of Books of Accounts and advises thereon
  • Review of classification of expenses.
  • Review of compliance of mandatory Accounting Standards & Ind.AS.
  • Review of Statutory and C&AG observations pertaining to previous year and suitable advise for compliance including disclosure , accounting treatment etc.,
  • Review and advise on tax-planning
  • Review and reconciliation of all tax related accounts.
  • Review of purchase entries relating to capital equipment and other materials
  • Review and check of payment of Ex-gratia& reconciliation
  • Review of Suppliers, contractors, consultants and hospital ledgers
  • Review the cost of the power, generation of electricity, and compare with purchase of power from outside agencies& reconciliation
  • Review and check of Monthly Gold Production Records/dispatch/stock & reconciliation
  • Imports, CVD, ED, CENVAT, VAT , Entry tax provisions

Human Resourses

  • Review and check of Welfare Expenses
  • Review and check of payment of Ex-gratia& reconciliation.
  • Pre-paid advances and recoveries
  • Festival advance records
  • Time office records
  • Grants, Donations paid from HGU
  • Employee service cards, annual increments, allowances, DA/IDA, Bonus,PLIB
  • Leave records, discipliner cases
  • Court cases, RTI records
  • HGML hospital records, expenses
  • Medical referrals
  • Procurement of drugs, issues of medicines to employees
  • Stock of medicines and procedure of disposal of time-barred medicines
  • Review of employee institute, officers club, cricket club, Guest-house, Canteen, other institutional records and activities. Revenue collection and expenditure

Security Department

Deployment and utilization of man-power

Booking and payment of overtime, Sunday incentives, and allowances Materials and equipment records

Common for All Departments of HGU

  • Review system of booking of labour / idle labour.
  • Physical verification of fixed assets.
  • Compliance audit of procedures.
  • Checking of consumption of stores, spares and other components, vis-a-vis standards
  • Review of Internal Control and Internal Check procedures and comments regarding adequacy and strengthening measures if required
  • Review of financial follow-up, security and vigilance.
  • Review of implementation of suggestions.
  • Review of Delegation of Powers , deviations from delegations if any.

Chitradurga Wind Farm Unit

  • Review of windmill operations and efficiency
  • Review of wind power sales to BESCOM
  • Review of Sale of COT
  • Review of O & M, other contract / purchase files.
  • Review of attendance / leave records, overtime / Sunday booking & other miscellaneous payments to employees and contractors / suppliers & professionals.
  • Review of Cash / Bank Books, BRS, Inventory / fixed asset register.
  • Review of Statutory Deductions / Remittances
  • Review of General / Sub-Ledger

Heera-Buddinni Gold Project

  • Review of General / Sub-Ledger
  • Review of attendance / leave records, overtime / Sunday booking & other miscellaneous payments & allowances to employees.
  • Verification of production records
  • Review & verification of utilization of man power, machineries & efficiency.

UTI Gold Project

  • Review of General / Sub-Ledger
  • Review of attendance / leave records, overtime / Sunday booking & other miscellaneous payments & allowances to employees.
  • Verification of production records
  • Review & verification of utilization of man power, machineries & efficiency.

Projects

  • Review & verification of on-going capital works at HGU, Heera-Buddinni, UTI Gold Project & Chitradurga units.
  • Procurement / implementation of capital equipments and works as per approved capital budget

Registered Office, Bengaluru

  • Review of General / Sub-Ledger
  • Review of Sale of Gold / Silver
  • Review of CSR (Corporate Social Responsibility)
  • Review of attendance / leave records, overtime / Sunday booking & other miscellaneous payments to employees and contractors / suppliers & professionals.
  • Review of Cash / Bank Books, BRS, Inventory / fixed asset register.
  • Review of Statutory Deductions / Remittances
  • Review of Fixed Deposit register.

Eligibility Criteria

  • The CA firm should have been registered with ICAI
  • The firm should have been empanelled with C & AG in any one year out of the previous 3 years.
  • The firm should have atleast 3 Chartered Accountants as its partners
  • One of the partners should be an FCA
  • The firm should have carried out internal audit work in any state PSUs in Karnataka atleast for one year during the previous 3 years.
  • The firm shall have minimum personnel strength of 5 assistants/article assistants

Last date for submission of bid documents : January 13, 2017.

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