Home Management and Care Givers Sector Skill Council (HMCGSSC) invites Request for Proposal (RFP)
For Engagement of Internal 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.
The key objective of the Internal 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 Quarterly Internal Audit (including consultancy & Accounting services) of the office of the Home Management and Care Givers Sector Skill Council Located at Okhla, Delhi.
Scope of Work:
The internal auditor is required to exercise tests of accounting records, internal checks, and control and other necessary audit practices for the internal audit of the accounts as per general principles. In conducting the Audit, specific attention should be given to the following:
- 100% checking of all entries made in tally software on the basis of approval by sanctioning authority with proper voucher and supporting documents.
- If any expenditure founds exceeding from its budget, then its detail scrutiny should be done by audit team and reason for the same should be reported specifically.
- Physical verification of Fixed Assets to be done.
- Ensure opening balances have been properly entered in the ledger as per audited accounts.
- The Internal audit activities should include payment audit as well as independent appraisals of the financial, operational and control activities of the corporation.
- The responsibilities of the Internal auditor should include reporting on the adequacy of internal controls, the accuracy and propriety of transactions, the extent to which assets are accounted for and safe guarded, and the level of compliance with financial norms and State Government procedures.
- All funds have been used in accordance with the condition of the relevant financial norms and financial regulations with due attention to economy and efficiency, and only for the purpose for which funds are provided.
- Generally accepted accounting principles are followed by corporation that are authorized to incur expenditure.
- Goods, works and services financed have been procured in accordance with relevant provisions of the Procurement Procedure prescribed for the purpose. Proper documents namely, purchase orders, tender documents, invoices, vouchers, receipts, pay bills, TA bills, etc. are maintained and linked to the transactions.
- All necessary supporting documents, records and accounts have been kept in respect of all expenditure. Clear linkages should exist between the books of accounts and Financial Statements presented to the Board of Directors.
- Expenditure incurred is strictly in accordance with the prescribed financial norms as per guidelines issued time to time. The expenditure statements / financial statements are drawn from the books of accounts and reporting proper utilization of funds as per the prescribed norms and in the best interest of the corporation
- Verification of approval of competent authority in case, actual expenditures exceeds the budget allocation sanctioned.
- Funds are used efficiently and economically to the purpose which they are provided.
- Ensure the Quarterly bank reconciliation of all the bank accounts.
- The auditor shall submit necessary details as required by corporation from time to time.
- The auditor has to ensure that each item of expenditure has been covered by a sanction, either general or specific, accorded by competent authority, authorizing such expenditure. The audit of sanction is directed both in respect of ensuring that the expenditure is properly covered by a sanction and also to satisfy that the authority sanctioning it is competent for the purpose by virtue of powers vested in it.
- It is required to be seen that the expenditure is incurred with due regard to the broad and general principle of financial propriety. The auditor needs to bring out the cases of improper, avoidable or in-fructuous expenditure even though the expenditure has been incurred in conformity with the existing rules and regulations. The Auditor is required to secure a reasonably high standard of public morality by looking into the wisdom, faithfulness and economy of transactions.
- Specific Scope of work of Internal Audit.
Last Date For Submission: 24 January 2025, 12 Noon IST
Revised Date for Submission: 02 February 2025
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