The International Planned Parenthood Federation (IPPF SAR) is an international non-profit organization with its South Asia Regional Office located in Hauz Khas, New Delhi. The organization operates as a Liaison Office (LO) in India permitted by the Reserve Bank of India (RBI). The LO is registered with the Ministry of Corporate Affairs (MCA) as a foreign company. The primary objective of the LO is to act as a communication channel between the parent company and Indian entities, and it is restricted from engaging in any commercial activities in India. To ensure compliance with Indian laws and regulations, the organization seeks to appoint a qualified and experienced Audit Firm to conduct the statutory audit of its financial statements and related records.
Scope of Work
The audit shall encompass, but not be limited to, the following areas:
- Financial Statements: Examination of the balance sheet, expenditure statement, cash flow statement, and notes to accounts to ensure their accuracy and compliance with applicable accounting standards.
- Regulatory Compliance: Verification of adherence to RBI guidelines for Liaison Offices, including the submission of the Annual Activity Certificate (AAC).
- Taxation: Review of compliance with the Income Tax Act. Preparation and filing of income tax returns/forms timely and accurately.
- Review of compliance with Provident Fund (PF) and other labour-related statutory requirements.
- Internal Controls: Evaluation of the adequacy and effectiveness of internal controls and processes related to financial reporting and compliance.
- Expenditures: Scrutiny of expenses to ensure they are legitimate, properly authorized, and supported by adequate documentation.
- Reporting:
- Preparation of the statutory audit report in accordance with the requirements of the Companies Act, 2013, and ICAI standards.
- Submission of any other reports or certifications required by regulatory authorities.
Duration
The audit firm will be appointed for the financial year 2024-2025. The selected firm may be re-appointed up to a maximum period of two years on annual basis depending upon their satisfactory performance of the firm in the previous year.
Audit Timeline
The audit shall be conducted as per the following schedule:
- Commencement Date: May 1st, 2025
- Completion Date: May 31st, 2025
- Submission of Audit Report and AAC: June 30th, 2025
Proposal Submission Deadline
Interested audit firms must submit their proposals in a password protected file via email to the procurement team at [email protected] by 11 April 2025.
For more information, please see the attached terms of reference below.
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