Tender Monitoring Directorate
Tender Monitoring Directorate has been formed by Council of ICAI to streamline the process of tendering and to monitor the bids quoted by CAs in all the permissible tenders and analyze them. It may further refer the deviations at appropriate level for penal action. The Directorate gives focused attention to tenders for professional services of Chartered Accountants.
If the Directorate notices any unfairness, restrictive conditions, conflict, or non-prescription of minimum fees in case of areas exclusive to Chartered Accountants such as audit and attestation services, it makes representations to the organization and advises them to modify their tender. This ensures that all tenders are fair and transparent, allowing practising members/ firms to compete on an equal footing with other professionals.
The Directorate represents to the tenderers calling upon them to –
- Follow ICAI guidelines.
- Keep unrestrictive eligibility conditions.
- Adopt Fixed Cost or Quality & Cost based Selection method.
- Approach the Professional Development Committee for getting a panel of practising Chartered Accountants/ firms as per the specified criteria.
- The tenderers are advised that they are no longer required to go by Least Cost method, as per revised Manual issued by Ministry of Finance, Government of India.
Members are educated about adherence to Code of Ethics in the matter of responding to tenders.
Members are cautioned not to apply for tenders which are found under “Representations” in the TMD Portal.
Members are also requested to go through the Publication, “Tendering of Professional Services – All that you should know”, which is available at Click here
Prescription of minimum fees for exclusive areas and demand of cost sheet from low bidders, ensures that price commanded by members is high, and at the same time, quality of work is also maintained.
Preparation of cost sheet prior to responding to tenders enables members to bid correctly and also enhances their bid’s credibility
