Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Sr. No Activity Risk Audit Steps
• Verify whether the two stage bidding system is followed or not
• Verify the process of short listing of bidders after RFQ and check whether all
the short listed bidders are complying with the pre-qualification criterion
• Verify that every proposal is technically evaluated by competent authority
• Verify that short listed bidders are having adequate financial capacity as
mentioned in Para 67(12)(B) of procurement rules 2008 i.e. Applicants
should have a minimum net worth equivalent to 25% of the estimated capital
cost of the project for which bids are to be invited. In the case of projects
with an estimated cost of Rs. 500,00,00,000 (Rs five hundred crore) or
more, the requirement of net worth could be suitably reduced, but should be
no less than 15%
• Verify that the terms of the project agreements as well as the tendering
arrangements involve detailed legal and contractual agreements that clearly
set forth the risks, rewards and obligations of various participants
• Verify that all legal terms of agreement are vetted by Legal team and any
further changes in the agreement should also be vetted by legal team
• Verify whether all project parameters such as concession period, applicable
rates, price indexation, technical parameters etc. are clearly stated in the
bid
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