Objectives

The primary objective of this tender is to procure professional services for the implementation of the revised GRAP 104 Financial Instruments standard. This includes conducting a detailed impact assessment of current financial instruments, advising on appropriate classification and measurement methodologies, supporting the development and review of aligned accounting policies, enhancing disclosures to meet compliance standards, and providing training and knowledge transfer to internal staff to mitigate risks of non-compliance, audit findings, and financial misstatements.

Scope

The scope of work encompasses:

• Performing a detailed impact assessment on existing financial instruments and related processes.
• Advising on classification and measurement methodologies aligned with GRAP 104.
• Supporting the development and review of accounting policies in accordance with the revised standard.
• Enhancing financial disclosures to ensure compliance.
• Providing training and knowledge transfer to internal staff to ensure effective implementation and ongoing compliance.

Technical Requirements

The technical requirements include:

• Submission of all compulsory returnable documents such as MBD forms, tax clearance, CSD report, municipal rates clearance, company profile, methodology, project plan, CVs, proof of qualifications, reference letters, and risk management plan.
• Demonstrated experience in public sector financial reporting and GRAP implementation.
• Development of a comprehensive methodology and implementation approach for GRAP 104.
• Preparation of a detailed project plan with timelines.
• Provision of training and knowledge transfer strategies.

Skills Requirements

The skills and qualifications required for the successful bidder include:

• Extensive experience in GRAP 104 Financial Instruments implementation.
• Proven track record in public sector financial reporting.
• Qualified personnel with relevant professional registrations and qualifications.
• Capability to develop and implement detailed methodologies and project plans.
• Ability to provide effective training and knowledge transfer to internal staff.
• Strong risk management and quality assurance skills.