Objectives

The primary objective of this tender is to appoint a suitable and qualified service provider to conduct the Annual Physical Asset Verification of movable assets for the 2026 financial year. The service provider will be responsible for verifying assets, assessing their movement on the fixed asset register, evaluating useful life and impairment, reconciling findings with the MUT Assets Management system, and assisting with audit and asset disposal processes.

Scope

The scope of work includes:

• Conducting annual physical verification of all movable assets for the 2026 financial year.
• Assessing asset movement, useful life, and impairment testing.
• Updating findings into the MUT Assets Management system.
• Reconciling assets and supporting the preparation of Annual Financial Statements (AFS) and audit queries.
• Providing expertise in asset management and disposal processes.

Technical Requirements

The technical requirements for the service provider include:

• Demonstrated expertise and experience in fixed asset management and verification.
• Utilization of up-to-date advanced technology and systems capable of generating various reports, storing asset images, and integrating with other ERP systems.
• Provision of a well-defined methodology and IT system that has been used for at least three years.
• Ability to verify and reconcile assets accurately, including assessment of useful life and impairment testing.
• Experience in asset management, asset disposal, and supporting audit processes.

Skills Requirements

The skills and qualifications required from the service provider include:

• Proven experience in physical asset verification, preferably in public academic institutions.
• Key personnel with relevant qualifications, such as Chartered Accountants (CA) (SA), with:
• More than five (5) years of experience in financial accounting, IFRS, fixed assets policy development, and SOP development.
• Three (3) to four (4) years of experience for mid-level personnel.
• One (1) to two (2) years of experience for junior personnel.
• Capability to implement and operate advanced asset verification IT systems.
• Ability to produce comprehensive reports, integrate with existing ERP systems, and support asset management and disposal activities.
• Local presence in KwaZulu-Natal (KZN) or the ability to demonstrate primary place of business within the region.