Mumbai Metro Rail Corporation Limited, Mumbai, Maharashtra Request For Proposal For Appointment Of Internal Auditor For Conducting Internal Audit\ Operating Effectiveness Testing Of Internal Financial Controls

Mumbai Metro Rail Corporation Limited, Mumbai, Maharashtra

Request For Proposal For Appointment Of Internal Auditor For Conducting Internal Audit\ Operating Effectiveness Testing Of Internal Financial Controls

1. Bid Requirements

Mumbai-Metro-Rail-Corporation

Minimum Eligibility

• Average annual turnover: ₹48 lakhs (last 3 years)
• Experience: Minimum 3 years in similar services
• No MSME/Startup exemptions
• EMD: ₹60,000 (MSME Manufacturers/Service Providers exempt) 

  Eligibility Criteria (Annexure II – Page 24)

    To qualify, a firm must:

    ✔ Be registered with ICAI for ≥ 10 years

    ✔ Have head/branch office in Mumbai as of 01.10.2025

    ✔ Have Average Turnover ≥ ₹2 crores (FY 2022-23 to 2024-25)

    ✔ Have Internal Audit experience (last 3 FYs) with Govt Dept/PSU/SPV

    ✔ Not be blacklisted by ICAI / any regulator

    ✔ Have at least 1 DISA-qualified partner

    ✔ Meet minimum staffing & experience norms

     Only firms meeting all pre-qualification criteria proceed to technical evaluation.

2. Contract Period

• Initial Term: 1 year (FY 2026–27)
• Extension: Up to FY 2027–28 & FY 2028–29, based on performance (with 5% escalation per year)

3. Technical Evaluation

Total Marks: 100 (70% weight in final score)

Criteria include:

• Firm age
• Number of partners
• Turnover level
• Internal audit experience in Govt/PSUs
• Experience with Metro/Rail/Aviation projects

Minimum score: 40/100 to qualify for financial bid opening.