Invitation for participation of bid for Internal Audit of Project Office Chennai for the year 2017-18.
Rural Electrification Corporation Limited is a Navratna Public Sector Undertaking under the administrative control of Ministry of Power is an Infrastructure Non Banking Finance Company. The corporate office is situated in New Delhi and various project offices are located all over India. Now it is decided to outsource the internal audit assignment of Chennai Project office for the financial year 2017-18 to professional audit firm.
The scope of work of Internal Auditor shall include:
- Examination and evaluation of adequacy and effectiveness of the internal control and risk management system at various operations and activities of the Auditee office.
- Review of accuracy and reliability of the accounting records and financial reports.
- Checking of both transactions and functioning of specific internal control procedures at the Auditee office.
- Evaluation of adherence to legal and regulatory requirement and approved policies and procedures.
- Evaluation of effectiveness of existing policies and procedures and give recommendations for improvement.
- Identifying opportunities for cost saving and give recommendations for improving cost efficiencies.
- Examine that resources are acquired economically, used efficiently and safeguarded adequately.
- Suggest measure to add value, improve operational efficiency, risk management and internal control system.
Last date of receipt of bids April 25, 2017 3.00 pm
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