Terms of Reference
The Terms of Reference approved by the Council of ICAI at its 420th meeting held on 23rd & 24th March, 2023 is as under:
- To monitor the tenders floated by the organizations prescribing minimum fees and giving fair opportunity to all members.
- To collect and disseminate details of tenders for professional services, amongst the practicing members.
- To conduct out-reach programmes for authorities related to tenders.
- To take up with Government and other relevant authorities issues relating to determining the manner of evaluation of tenders for professional services giving due weightage to quality i.e. Quality & Cost Based Selection (QCBS) method and including audit services in Fixed Budget – based Selection (FBS) method.
- To guide members, and resolve their queries and grievances.
- To develop an effective online format to capture cost sheet/ details from the Firms/ Members applying for Professional Tender Services for the internal analysis for maintenance of quality and adherence of prescribed guidelines – both at pre-bidding and post-bidding stage.
- To develop a mechanism for monitoring and analysing the responses of the members on tenders and may refer the deviations at appropriate level.
- To lay down a mechanism for erring firms for further suitable/ necessary action.