Objectives

The primary objective of this tender is to appoint a suitable service provider to deliver comprehensive financial and quality assurance accounting services for uMshwathi Municipality. This includes reviewing and ensuring the accuracy, compliance, and audit readiness of the municipality's annual financial statements, as well as providing independent quality assurance reviews aligned with legislative and accounting standards.

Scope

The scope encompasses:

• Preparation and review of the municipality's Annual Financial Statements (AFS) in accordance with MFMA, GRAP, and other relevant legislation.
• Conducting a GRAP compliance review covering standards such as GRAP 1, 17, 19, 23, 24, 103, 104, 108, 109, and others applicable to municipalities.
• Review of supporting schedules, supporting working papers, VAT, and disclosure checklists.
• Assessment of audit readiness, including review of prior-year findings and identification of material misstatements.
• Preparation of a detailed Quality Assurance Report with recommendations for corrections before submission to the Auditor-General.
• Providing expert advice and detailed reports to ensure the municipality's financial statements are of high quality and compliant with applicable standards.

Technical Requirements

The technical requirements include:

• Review of the complete Annual Financial Statements for accuracy and compliance.
• Assessment of GRAP standards compliance, including standards relevant to municipalities.
• Evaluation of supporting schedules and working papers, including VAT and disclosure checklists.
• Analysis of prior-year audit findings to confirm they have been addressed.
• Performing analytical procedures and detailed review to identify material misstatements.
• Preparation of a comprehensive Quality Assurance Report with findings and recommendations.
• Engagement in daily feedback sessions with management during the review process.

Skills and Experience Requirements

The successful service provider must demonstrate:

• Expertise in municipal financial reporting, accounting standards (MFMA, GRAP), and audit processes.
• Proven experience in reviewing and auditing municipal financial statements, preferably with AGSA or similar bodies.
• Qualified professionals, including Chartered Accountants (CA(SA)), with extensive experience in municipal financial management.
• Knowledge of GRAP standards, legislative requirements, and audit readiness procedures.
• Ability to perform detailed analytical procedures, compliance reviews, and prepare quality assurance reports.
• Strong communication skills for daily feedback and reporting to the municipality’s CFO and relevant stakeholders.
• Capacity to transfer skills and knowledge to municipal staff and ensure sustainability of best practices.