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Professional Auditor Engagement – Bangalore, India
Document Reference: PO/BLR/AUD/2025/0047
1. PARTIES TO THIS PURCHASE ORDER| Role | Details |
|---|---|
| Purchaser (Buyer) |
Company: TechNova Solutions Private Limited Address: 4th Floor, Prestige Tech Park, Outer Ring Road, Koramangala, Bangalore, Karnataka – 560095, India GSTIN: 29AABCT1234F1Z5 Authorized Signatory: Mr. Rajesh Kumar, Chief Financial Officer |
| Supplier (Auditor) |
Firm: M/s. Chartered Audit & Advisory LLP Address: 2nd Floor, WeWork Galaxy, Residency Road, Bengaluru, Karnataka – 560025, India Bangalore GSTIN: 29AAFCM5678K1Z9 ICAI Firm Registration No.: 101243W Lead Auditor: CA Srinivas Iyer, FCA, FCS |
This Purchase Order is issued by TechNova Solutions Private Limited to formally engage the services of a qualified Auditor for the conduct of a comprehensive statutory and internal financial audit for the fiscal year 2024–2025. The Auditor shall perform all duties and responsibilities as prescribed under the Companies Act, 2013, the Income Tax Act, 1961, and applicable regulations of the Institute of Chartered Accountants of India (ICAI). The engagement is to be carried out primarily at the purchaser's registered office in India Bangalore, with the possibility of site visits to operational facilities within the Bangalore metropolitan area.
| Sr. No. | Service Description | Duration | Rate (INR) | Amount (INR) |
|---|---|---|---|---|
| 1 | Statutory Financial Audit of books of accounts, balance sheet, and profit & loss statement for FY 2024–2025 as per ICAI Standards on Auditing | 60 days | Fixed Fee | ₹ 4,50,000 |
| 2 | Internal Audit of revenue, procurement, and inventory processes at Bangalore headquarters | 30 days | Fixed Fee | ₹ 2,75,000 |
| 3 | Tax Compliance Audit and GST reconciliation for all registrations in India Bangalore | 20 days | Fixed Fee | ₹ 1,80,000 |
| 4 | Management Letter and Advisory Report with recommendations for process improvement | Included | Fixed Fee | ₹ 95,000 |
| 5 | On-site support and coordination meetings at Koramangala office, Bangalore | As required | Fixed Fee | ₹ 50,000 |
| Subtotal | ₹ 10,50,000 | |||
| GST @ 18% (as applicable in India Bangalore) | ₹ 1,89,000 | |||
| Grand Total (INR) | ₹ 12,39,000 | |||
The Auditor engaged under this Purchase Order shall be responsible for the following:
- Conducting an independent and objective examination of the financial statements of TechNova Solutions Private Limited in accordance with the Standards on Auditing (SAs) issued by the ICAI and the applicable provisions of the Companies Act, 2013.
- Verifying the authenticity, completeness, and accuracy of all financial records, ledgers, and supporting documentation maintained at the Bangalore, India office and any satellite locations within Karnataka.
- Performing substantive testing, analytical procedures, and walkthroughs of key business processes including sales, purchases, payroll, and capital expenditure.
- Reviewing compliance with applicable tax laws including Income Tax, Goods and Services Tax (GST), and Professional Tax as administered in the state of Karnataka, India Bangalore.
- Issuing a statutory audit report, internal audit report, and a detailed management letter within the stipulated timelines.
- Maintaining strict confidentiality of all financial data, trade secrets, and proprietary information of the purchaser in accordance with the ICAI Code of Ethics and the Information Technology Act, 2000.
- Cooperating with the Board of Directors, the Audit Committee, and regulatory authorities as and when required during the audit period.
- Governing Law: This Purchase Order shall be governed by and construed in accordance with the laws of India. Any disputes arising out of or in connection with this Purchase Order shall be subject to the exclusive jurisdiction of the competent courts in Bangalore, Karnataka, India.
- Payment Terms: Payment shall be made in three equal installments: 40% upon execution of this Purchase Order, 40% upon submission of the draft audit report, and 20% upon final acceptance of the completed Auditor report. All payments shall be made via NEFT/RTGS to the bank account designated by the Auditor firm.
- Timeline: The Auditor shall commence fieldwork within seven (7) working days of the date of this Purchase Order and shall complete all audit procedures and submit the final report within ninety (90) calendar days from the date of commencement.
- Deliverables: The Auditor shall deliver the following: (a) Statutory Audit Report, (b) Internal Audit Report, (c) Tax Compliance Certificate, (d) Management Letter, and (e) a summary presentation to the Board of Directors at the Bangalore office.
- Confidentiality: The Auditor and all personnel engaged under this Purchase Order shall maintain absolute confidentiality. Any breach of confidentiality shall entitle the purchaser to seek damages and legal remedies under applicable Indian law.
- Termination: Either party may terminate this Purchase Order with thirty (30) days' written notice. In the event of termination, the Auditor shall be compensated for work completed up to the date of termination on a pro-rata basis.
- Force Majeure: Neither party shall be liable for delays caused by events beyond reasonable control, including but not limited to natural disasters, government orders, or public health emergencies affecting operations in India Bangalore.
- Intellectual Property: All reports, findings, and recommendations prepared by the Auditor under this Purchase Order shall become the exclusive property of TechNova Solutions Private Limited upon full payment.
- Compliance: The Auditor warrants that all professionals assigned to this engagement hold valid ICAI membership and are in good standing. The Auditor shall comply with all applicable regulations of the Securities and Exchange Board of India (SEBI) if the company is listed.
This Purchase Order is issued as a formal request for the engagement of the Auditor and constitutes a binding commercial document upon acceptance by both parties. By signing below, both parties acknowledge and agree to all terms, conditions, and obligations set forth in this Purchase Order for the Auditor engagement in India Bangalore.
For and on behalf of TechNova Solutions Pvt. Ltd. (Purchaser)
Name: Rajesh KumarDesignation: Chief Financial Officer
Date: _______________
Signature & Company Seal
For and on behalf of M/s. Chartered Audit & Advisory LLP (Auditor)
Name: CA Srinivas IyerDesignation: Lead Auditor / Partner
Date: _______________
Signature & Firm Seal ⬇️ Download as DOCX Edit online as DOCX
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