Home Management and Care Givers Sector Skill Council (HMCGSSC) invites Request for Proposal (RFP) For Engagement of Statutory Auditor/ CA Firm.
HMCGSSC is a non-profit company (Sec. 8) registered under the aegis of National Skill Development Corporation (NSDC) and the Ministry of Skill Development and Entrepreneurship, Govt. of India, (MSD&E) with the purpose to define and operate this key Sector wherein the domestic workers can find decent employment through proper skilling, work, and safe and smooth migration, minimum wages and other aspects of social security.
Objective
The key objective of the Audit includes:
- To ensure payment based on voucher/evidence to improve transparency.
- To ensure accuracy and timeliness in maintenance of book of accounts.
- To improve accuracy and timeliness of periodical financial reporting.
- To regularly track, follow up and settlement/ adjustment of various advances on a priority basis.
- To asses & improve overall internal control systems.
- To assist in finalization of books of account and support in statutory auditor work on behalf of HMCGSSC
HMCGSSC seeks to invite proposals, from Chartered Accountant/ Accountant firms/ for conducting Statutory Audit (including consultancy & Accounting services) of the office of the Home Management and Care Givers Sector Skill Council Located at Okhla, Delhi.
Terms of Reference:
- The submission of the proposals: The proposals shall be submitted in two parts viz., Technical and Financial and should follow the form given in the “Supplementary Information for the Consultants.”
- Objective of audit services: The objective of the audit is to ensure that SSC receives adequate, independent, professional audit assurance that the fund proceeds provided to Sangathan are used for purposes intended in line with approved objective of fund utilization and the objective of the audit of the financial statements is to enable the auditor to express a professional opinion as to whether,
- The financial statements give a true and fair view of the Financial Position of the corporation for the accounting period ended.
- The funds were utilized for the purposes for which they were provided.
HMCGSSC may renew the Statutory audit assignment for further period with the same professional fees with or without any increment by mutual consent.
Standards: The audit will be carried out in accordance with Audit & Assurance Standards issued by the Institute of Chartered Accountants of India. In this regard the auditor should accordingly consider materiality when planning and performing the audit to reduce the risk to an acceptable low level that is consistent with the objective of the audit. In addition the auditor should specifically consider the risk of material misstatements in the financial statements resulting from fraud.
Scope of Work
The Statutory auditor is required to exercise tests of accounting records, internal checks, and control and other necessary audit practices for the Statutory audit of the accounts as per general principles. In conducting the Audit, specific attention should be given to the following:
- Statutory Audit to cover the areas ensuring that,
- Transactions are recorded as per principles of commercial accounting and are booked to proper accounting heads.
- Utilization of external funds is in accordance with financing agreements.
- Counterpart funds are utilized for purposes for which they are provided.
- Goods and services have been procured in compliance with the financing agreement.
- Transactions are duly supported by proper supporting documents and there is clear linkage between books of accounts and reports presented to Bank/FA.
- Where special accounts have been used, they have been maintained in accordance with the provisions of the relevant financing agreements.
- Propriety of the transactions.
- Checking the maintenance of books of accounts and records.
- Checking the bank reconciliation statements.
- Checking of component wise, category-wise and account head wise expenditures.
- Checking of investments, short term deposit etc. made from time to time.
- Checking of compliance of various taxes/statutory compliance.
- Verification of fixed deposit register and checking of interest received.
- Review of accounts on basis.
- System of Physical Verification of Inventory and Fixed Assets is in place.
- To check all statutory records registers including Minute Books and to see that accounting affects all the decisions taken at Board/Committee Meeting/General meeting/Audit Committee meeting is given in the Books of account.
- To give an executive summary incorporating all points’ matters; which are of very important nature.
Last Date For Submission: 24 January 2025, 12:00 PM IST
Revised Date for Submission: 02 February 2025
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