1 Careersfile
1 Careersfile
1 Careersfile
Contd…
:2:
1. Qualification Criteria – The local Professional Firm should have atleast 3 Partners, of
which atleast 1 Partner should have CISA/DISA qualification.
Copy of the latest “Firm Constitution Certificate” issued by the concerned
Professional Institute should be enclosed with the Application.
ii. The Firm shall carry out the Pre-Audit / Internal Audit Work for all power purchase
transactions pertaining to TGSPDCL and TGNPDCL stationed at Office of ‘The
FA&CCA / TGPCC / Vidyut Soudha/ Hyderabad’ on a full-time basis on all working
days.
iii. Audit Team shall have 1 Qualified Chartered Accountant employee and 2 Audit
Assistants (not Articled Assistants / Trainees). The Partner shall monitor the
Audit assignment atleast twice a month, at the place of Audit.
iv. The Firm shall not assign or transfer the work to other Firms, etc.
v. TGSPDCL reserves the right to accept the application or not, even if the Firm
meets all conditions.
vi. Any legal dispute shall be settled within the jurisdiction of any Court in Hyderabad.
vii. Firm shall ensure strict compliance of EPF & ESI provisions in respect of it’s
employees and give monthly proof of compliance.
Contd…
:3:
GENERAL PARAMETERS: –
100% coverage of all transactions is expected. However, where due to large
volumes, 100% coverage is not possible, the quantum of coverage vis-à-vis the
total volume should be optimum. Proper sampling techniques may be adopted in
these circumstances and reported accordingly.
Verify documentary evidence (both internal and external)
Verify that there is a proper authority for all expenditure and transactions.
Critically review every aspect relevant to the Internal Audit area, with a view to
achieving cost savings and improved revenue earnings.
Review adequacy of MIS reports.
Verify the accuracy and authenticity of the financial accounting and statistical
records.
Endeavour for prevention and quick detection of frauds.
Check validity of transactions with reference to provisions of laws & Statutes.
Ascertain that the standard accounting practices, internal policies & control
procedures are being adhered to.
Analyse and improve the system of internal checks, in particular, see that it is
functional, sound and economical.
Review the overall internal control system and bring material departures and non-
compliance to the notice of the Management and report thereon. This review also
generally aims at locating unnecessary and weak controls and to suggest effective
and economical controls.
Review the adequacy of documentation, filing system & record keeping.
Report on shortcomings and improvements possible in the systems & procedures.
Report adequacy of existing Information Technology Support System and suggest
for improvement, wherever required.
GENERAL ITEMS: –
1. The Scope of the Audit includes verification and scrutiny of all the power purchase
transactions / dealings of TGDISCOMs.
2. The Auditor shall certify all the Energy bills, Transmission Bills, Open Access charges,
UI charges Bills, Exchange Transactions, LPS claims etc., which are being dealt by
FA&CCA/ TGPCC.
Contd…
:2:
3. The Auditor shall also scrutiny and certify the payments made to PP Vendors, Loan
drawal and Repayment including Interest.
4. The auditor shall certify the Trial Balance of TGPCC on annual basis.
5. The Accounts uploaded in the SAP system of DISCOMs shall be verified and a
reconciliation statement shall be furnished every month duly certified.
6. Generator wise Power Purchase cost and Energy units shall be certified on monthly
basis for filing of Fuel surcharge Adjustment / Fuel Cost Adjustment with TGERC.
7. The pre audit / internal audit of all the power purchase transactions of the DISCOMs /
TGPCC shall be carried out on regular basis and report shall be submitted every
month with the specific remarks / recommendations.
8. The Audit Team shall include a minimum of One (1) qualified Chartered Accountant
and two (2) other experienced staff. It should be ensured that the personnel deployed
to carry out the Pre-Audit / Internal Audit functions of TGPCC shall be available for
consultation on day to day accounts related issues and advise the staff on
implementation of IND-AS.
Audit fees:
The Audit Fees will be paid on monthly basis after certification and furnishing of
monthly report. The Audit fees bill shall be submitted to the FA&CCA/TGPCC on monthly
basis. The FA&CCA/TGPCC shall forward the bill to the CGM / Finance / for arranging
payment.
Due date of Payment of Audit Fees / Remuneration: The Audit Fees / Remuneration will
be paid within a period of (30) thirty days from the date of receipt of claim.
Confidentiality:
The Audit team shall maintain absolute confidentiality of all information, data obtained /
processes and reported and they will be held responsible for leakage of any information
pertaining to DISCOMs / TGPCC either during or after the audit.