Africa-Press – Eswatini. PricewaterhouseCoopeRs has been enlisted as best evaluated tender to audit the Municipal Council of Ezulwini after scoring an impressive 94.4 per cent during evaluation.
The tender results were issued after the revered audit firm responded to a call for proposals from suitable, reputable and qualified chartered accounting firms registered with Eswatini Institute of Accountants (ESIA) to submit proposals for the provision of the statutory external audit services for a contract of three years (renewable) upon satisfactory performance commencing in the 2021/22 financial year.
In the intention which had been issued in accordance with the Public Procurement Act of 2011, it was disclosed that PwC had submitted a bid price of E593 598. It should be noted that the contract-award decision does not constitute a contract.
A period of 10 working days will be allowed for the submission of an application for review by any of the tenderers.
Municipal Council of Ezulwini Chief Executive Officer (CEO) Vusi Matsebula explained that the reason for issuance of the request for proposal (RFP) was to establish a service level agreement to cover with the audit firm.
Matsebula explained that the external audit firm was expected to conduct an independent audit of the council in line with International Standards on Auditing and International Financial Reporting Standards.
PwC will also review and evaluate the council’s internal control and risk management system and advise management and the councillors on adequacy and effectiveness of the internal controls and systems, report of deficiencies and make recommendations on areas of improvements.
They will also be expected to ‘express an opinion on whether the financial statement is prepared, in all material respects, in accordance with applicable international financial reporting standards and frameworks, whether the council has maintained proper books of accounts, and whether the accompanying financial statements give a true and fair view of the financial position of the council.’
Additionally the consultant should provide any other value addition services consistent with the audit of the council.
The audit firm, in its proposal, had been expected to provide documents specified in ‘instructions to tenderers’, including the following: signed declaration of eligibility, certified copy of a valid trading licence, certified copy of an official statement of the directors and alternative directors (such as Form ‘J’) or owners in the case of unincorporated persons, certified copy of an official statement of the annual summary of share capital and shares (such as form C or equivalent) for incorporated persons.
The firm was also expected to produce valid Eswatini National Provident Fund (ENPF) compliance, company profile, valid tax clearance certificate, valid certified copy of certificate of incorporation or company registration, police clearance for company directors, original Ezulwini town council tender receipt and certified copy of labour compliant certificate.
“Proposals will be evaluated on a quality and cost basis as detailed in the RFP document. The resulting contract will be a lump sum contract.
Late, telegraphic, electronic and faxed tenders will not be considered. Ezulwini Town Council does not bind itself to accept the lowest or any tender,” added Matsebula.
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