Objectives

The primary objective of this tender is to appoint a suitable, independent service provider to deliver co-sourced internal audit services for Vaal Central Water over a three-year period until the 2028/29 financial year. The internal audit function aims to establish an effective internal audit department that complies with the Institute of Internal Auditors (IIA) standards, assisting the Audit and Risk Committee (ARC) and management in evaluating and improving risk management, governance, and internal controls.

Scope

The scope includes, but is not limited to:

• Developing a three-year strategic plan based on risk assessments.
• Preparing an annual internal audit operational plan.
• Implementing best practices and external assurance providers to ensure comprehensive coverage with minimal duplication.
• Evaluating controls and providing recommendations for enhancements across areas such as financial and operational information, operational efficiency, resource use, asset safeguarding, achievement of objectives, legal and policy compliance, and information systems environment.
• Supporting internal audit activities, including audits related to ICT, engineering, forensic audits, and other specialized areas as needed.
• Ensuring the internal audit function aligns with legal, regulatory, and internal policy requirements.

Technical Requirements

The technical requirements specify that the appointed service provider must:

• Have relevant experience in the public sector, with a list of previous clients demonstrating assets over R800 million in the last 10 years.
• Have a physical presence or footprint in the Vaal Central Water area of supply (Free State and Northern Cape).
• Possess a qualified and experienced audit team, including a CIA or CA(SA) with at least 10 years’ experience, a Civil Engineer with relevant water sector experience, and a Certified Information Systems Auditor (CISA) with at least 5 years’ experience.
• Provide proof of professional registration, qualifications, and membership of relevant professional bodies.
• Demonstrate experience in performance audits, PFMA, and GRAP audits, with references from at least five clients.
• Utilize ICT tools to add value during internal audits.
• Meet minimum functionality score of 70 points based on criteria such as experience, location, team qualifications, and previous audit performance.

Skills Requirements

The skills and expertise required include:

• Extensive experience in public sector internal auditing, especially in risk assessment, control evaluation, and governance.
• Qualified professionals such as CIA, CA(SA), Civil Engineers, and CISA with proven track records.
• Ability to perform specialized audits including ICT, forensic, and engineering audits.
• Strong project management skills to develop and implement strategic and operational audit plans.
• Proficiency in ICT tools and audit software to enhance audit processes and reporting.
• Capacity to operate within the geographic regions of Free State and Northern Cape, with local representation preferred.