Objectives

The primary objective of this tender is to appoint a recognized service provider with competent and skilled personnel to conduct a conditional assessment of immovable assets. The assessment aims to verify the condition of assets, identify gaps in the existing Fixed Asset Register (FAR), determine impairment needs, and provide accounting advice aligned with GRAP standards. The successful provider will also compile a GRAP-compliant fixed asset register, review asset management policies, and transfer skills to staff.

Scope

The scope of work includes:

• Conducting a 100% physical verification of immovable assets.
• Assessing all immovable assets and reporting on their condition.
• Compiling a GRAP-compliant Fixed Asset Register for the agency.
• Identifying and addressing gaps in the existing FAR.
• Identifying assets requiring impairment.
• Verifying and advising on correct asset classification.
• Reviewing and aligning asset management policies and procedures.
• Recording disposals and write-offs during the financial year.
• Calculating net book value, fair value adjustments, impairment, and depreciation.
• Preparing supporting schedules, working papers, and addressing audit queries.
• Submitting a methodology report signed by a professional engineer.
• Providing training and transferring skills to staff.

Technical Requirements

The technical requirements include:

• Experience in asset management, including compilation and review of fixed assets registers in accordance with GRAP standards.
• Proven record in conducting conditional assessments and impairment evaluations.
• Ability to identify asset gaps and classify assets correctly.
• Alignment of asset management policies with new systems.
• Preparation of detailed schedules, reports, and audit support documentation.
• Submission of a methodology and assessment report signed by a professional engineer.
• Use of an electronic system for conditional assessment and data storage.

Skills Requirements

The service provider must demonstrate:

• Hands-on accounting and auditing experience in local government asset management.
• Ability to reconcile and balance asset registers, general ledger, and financial statements.
• Capability to compile and document working papers in both hard and soft copies for audit purposes.
• Inclusion of engineers, accountants, and asset assessors in the project team.
• Use of an electronic system for data collection, assessment, and storage.