Request for Proposals: External Expenditure Verification (Audit)

26-Aug-2026

REQUEST FOR PROPOSALS: External Expenditure Verification (Audit)

Project: "Improving Social Security and Building Resilient Communities in the Kalahandi–Balangir–Koraput (KBK) Region of Odisha, India" (EU-Funded Grant Contract)
RFP Ref: CYSD/RFP/AUDIT/2026/FC/01

About the Assignment
The Centre for Youth and Social Development (CYSD), Bhubaneswar, invites Proposals from eligible, independent firms of Chartered Accountants to conduct an expenditure verification for an EU-co-financed grant project (EU contribution up to EUR 500,000, max. 90% of total eligible cost) covering the implementation period 1 January 2022 to 30 June 2026. The engagement involves performing agreed-upon procedures under ISRS 4400 and issuing a standard EU Report of Factual Findings in the Annex VII format.

Key Responsibilities

• Financial Verification: Verify declared expenditure for reality, accuracy, and eligibility against original vouchers, invoices, contracts, payroll/timesheets, and bank records.
• Compliance Checks: Review compliance with the grant contract's procurement rules, exchange-rate application, revenue/interest, and reconciliation with CYSD's accounting records.
• Deliverables: Submit a draft and final Report of Factual Findings (with all required annexes) in the prescribed EU Annex VII format within 15 calendar days of signing the engagement letter; final report due no later than 24 September 2026.

Key Eligibility Criteria

• Registered CA firm with a valid ICAI Firm Registration Number (FRN) and at least 5 years of continuous practice, with a valid ICAI peer-review certificate (where applicable).
• Valid PAN and GST registration.
• At least 2 comparable assignments auditing EU/donor-funded (or other bilateral/multilateral donor, including FCRA) projects in the last 3 years, with client references.
• Complete independence from CYSD — must not be CYSD's current statutory/internal auditor, with no conflict of interest.

Key Dates & Submission Details

• Issue Date: 26 August 2026

• Submission Deadline: 1 September 2026 by 5:00 PM (IST)

• Final Report Target: 24 September 2026

• Submission: E-mail the completed Proposal (Annexure I; no fee/financial information to be included at this stage) to purchase@cysd.org, with the subject line: "Proposal – Expenditure Verification, CYSD/RFP/AUDIT/2026/FC/01." Professional fees will be negotiated directly and separately with the best-evaluated firm.
• Queries: Mr. Srikant Rath (+91-7008092818) or Mr. Purna Mohapatra (+91-6371622304).

For complete details, eligibility requirements, and proposal format, please refer to the official ToR/RFP document.

RFQ Document