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Background

A well reputed Non-Governmental Organization (NGO) based in Islamabad would like to hire a firm for the audit of its annual financial statements.

Scope

  • Audit of the annual financial statements of the organisation
 

Firms Eligibility Criterion

1)     Registered with ICAP and having Valid License of Practice

2)     Registered with Income and Sales Tax Departments, who are on Active tax Payer (ATL) list of FBR.

3)     Having Satisfactory QCR Rating as per latest list issued by ICAP

4)     Having Office in Islamabad

 

a)     Technical Proposal

The technical proposal shall include

  • A covering letter from the head of the firm or an authorized representative of the applicant entailing the objectives and the executive summary.
  • Firm complete profile having Partners/Audit team Qualification & Experience details, client details along with all the related documents supporting the Firm’s eligibility and technical qualification for bid.
  • The Technical Proposal should specifically provide the information of Firm on the following format of evaluation criterion.

 

Evaluation Criterion

S. No.

Criterion

Marks

Firms Data*

1

Affiliation with International Networks of Accountancy

5

 

2

Manpower Strength (Nos)

                    5

 

3

Active Audit Clients (Nos)

 

 

a) In Pakistan

10

 

b) Islamabad

10

 

4

Active Audit Clients Similar Nature (Nos)

 

 

a) In Pakistan

10

 

b) In Islamabad

10

 

5

Composition of Audit Team

 

 

a) Partner Overall Experience

5

 

b) Audit Supervisor Qualification/ Experience

5

 

6

Proposed Audit Team Experience of audit of similar clients

10

 

 * Firms need to fill the information in table above against column “Firm”

 

b)     Financial Proposal

The Financial Proposals should be submitted in Pak Rupees on following format.

Sr. No

Detail

Fee

Services  Sale  tax

Total

1

Audit Fee

 

 

 

2

Out of Pocket Expenses (if any)

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

  1. The proposal must remain valid for a period of 60 days after the financial bid date.
  2. All applicable taxes will be deducted at the time of the payment as per government rules and regulations.
  3. The Successful bidder shall pay all such taxes or other duties, fees and other impositions levied under the applicable law, the amount of which is deemed to have been included in the financial bid. 

Payment Terms:-

The payment of Fee will be made on issuance of Final Signed Reports.

Completion Period:-

 The tentative start date of the assignment is 15 October, 2020 and completion period is 2 weeks for audit and reviews. The period will be counted from deputation of Audit team till Final Report date.