Notice Inviting Expression of Interest for Empanelment of Partnership / Limited Liability Partnership firms of Cost Accountants for conducting Cost Audit in NLC Tamilnadu Power Limited (NTPL) for the financial year 2017-18, 2018-19 and 2019-20.
NLC Tamilnadu Power Limited is a Joint Venture between NLC India Ltd and Tamilnadu Generation and Distribution Corporation Limited is a 2X500 MW coal based Thermal Plant in Tuticorin, Tamilnadu. The Company invites e xpression of interest (EOI) from reputed Indian Cost Audit Firms (Partnership/ Limited Liability Partnership) for empanelment as Cost Auditors for the period 201718, 2018-19 and 2019-20. Appointment will be initially for one year subject to renewal based on performance with a cap of three years
The format of application along with annexures on areas and extent of coverage, reporting requirements, terms of reference, list of units and locations. selection criteria etc. which can be downloaded are available on www.nlcindia.com or CPPP Website www.eprocure.gov.in from 15.07.2017 10.00 Hrs(IST) to 31.07.2017 upto 17.00 Hrs(IST)
Firms may send their applications in the prescribed format along with annexures under sealed cover to “DGM Contract & Purchase, NLC Tamilnadu power Limited, TuticorinHarbour Estate, Tuticorin-628004 Tamilnadu, India ” so as to reach this office latest by August 01, 2017 up to 14.30 Hrs. (1ST).
The scope of work is detailed as under:
- Cost audit in accordance to the provisions of the Companies (Cost Records and Audit) Rules, 2014 in respect of designated locations/ work centers of the Company. Cost audit shall also be in adherence to the relevant orders / clarification, issued from time to time 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.
- Cost audit team should consist of adequate number of qualified/semi-qualified Assistants (Cost / Chartered Accountants) led by a senior partner of the Firm, being commensurate with the size of the Company’s work centre.
- Verification and certification of cost proforma maintained at work centers as per (Cost Records and Audit) Rules, 2014.
- Suggesting / assisting NTPL for any improvements /modifications of data/records maintained by the Company
- Verification and certification of annexures to cost audit report..
- Submission of Cost Audit Report to the Company in addition to the presentation to Management/Audit Committee/Board of Directors. A partner of the cost auditor firm to devote a minimum of 12 to 15 man days and audit assistants to a minimum of 18 to 20 man days.
- Cost audit firms so appointed shall commence cost audit and submit Cost Audit Report for the Company as a whole as per guidelines issued from time to time.
- Assisting the company in Filing of cost audit report and Annexures to the cost audit report to Ministry of Corporate Affairs (MCA) Government of India within the scheduled date prescribed by MCA. XBRL Filing, in Form CRA-4 to be submitted to Central Govt within the scheduled date
- Compliance with any other instruction issued in respect of cost audit under Companies Act, 2013.
- Cost audit shall be conducted in half yearly.
PAYMENT OF AUDIT FEES
Audit Fee is as follows :
- FY 2017-18 – Lump sum Fee : Rs. 2,25,000/- p.a.
- Subsequent 2 Years (FY 2018-19, 2019-20) – 10% increase p.a. subject to approval
- Taxes as applicable
- Travelling Expenses: Reimbursed at actual as mentioned in clause 4.3
- Local Travel and out of pocket exp: Reimbursed at actual on self-certification/ Documentary evidence
- Boarding & Lodging: Provided by company.
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