We have been awarded the Consultancy Services for Special Third Party Independent Techno – Financial Auditors for Punjab Infrastructure Development Board (PIDB), Punjab.
The State Government through its various funding agencies such as Finance Department/ GMADA/PIDB/PUDA/Rural Development Board / Punjab Mandi Board etc. is executing various projects across different infrastructure sectors such as Roads, Transport, Health, Rural and Urban, Energy, Health, Medical Education, Information Technology, Tourism etc. In order to ensure good quality construction and judicious utilization of funds, it has been decided to create panel of “Special Third Party Independent Techno Financial Auditors” for carrying out the technical and financial audit of the projects already executed/ongoing/to be executed in the State of Punjab through various agencies such as PWD, Punjab Water Supply & Sewerage Board (PWSSB), Punjab Police Housing Corporation (PPHC), Municipal Corporations, Rural Development Board, Punjab Mandi Board etc and funded by various financial institutions of the State Government, Govt. of India and other funding agencies such as World Bank (WB), Asian Development Bank (ADB), NABARD, etc.
Objective of the Consultancy
(i) Independent review, and auditing (technical & financial) of infrastructure works;
(ii) Independent Technical and quality control/Audit assurance and financial audit of works under different projects;
(iii) Financial audit bringing out various observations and discrepancies vis-a-vis GFR, Financial rules of the respective Department & State Government, Financial milestones provided in the contract agreement;
(iv) Carry out tests, if required, as laid down in the IS Codes / Government Manuals / Punjab PWD Specification/ Quality Control Protocol/Manual of the respective Department / contract agreement of the project. Testing shall be done by the Auditor from in-house testing labs or NABL certified laboratory or Shri Ram Institute of Industrial Research, Delhi. The tests shall be got conducted only with prior approval of the Authority. The payment of such tests shall be reimbursed by the Client.
(v) Review of bidding documents and contract agreements vis-a-vis Good Industry Practise, policies and practices and guidelines of State Government / Govt. of India and CVC and to bring out discrepancies & suggestions for further improvements
(vi) Suggestive standardization of contract agreements & bidding process
(vii) Review of processes carried into award of work
(viii) Checking of execution of the projects on ground, the physical progress and quality of works.
Total project cost – Up to Rs. 2000 Crores