Objectives

The primary objective of this tender is to appoint an independent external auditor to review and provide assurance on the licensing of CSIR-developed Passive Radar Technology to Adler Aerospace, specifically ensuring compliance with South African Reserve Bank (SARB) regulations for offshore licensing of intellectual property. The review aims to facilitate the approval process for offshore licensing in accordance with currency and exchange control requirements.

Scope

The scope includes:

• Conducting an agreed-upon procedures review of the offshore licence agreement between CSIR and Adler Aerospace.
• Verifying compliance with SARB regulations regarding licensing of intellectual property to non-resident parties.
• Providing an auditor’s report confirming the basis for calculating royalties or licence fees, and ensuring all regulatory requirements are met.

Technical Requirements

The technical requirements involve:

• Performing an independent review of the licence agreement documentation.
• Assessing the calculation basis for royalties or licence fees as per SARB guidelines.
• Providing a detailed auditor’s report that confirms compliance with relevant currency exchange regulations.
• Ensuring all procedures are in accordance with applicable auditing standards and SARB regulations.

Skills Requirements

The successful bidder must possess:

• Expertise in international licensing and intellectual property regulations.
• In-depth knowledge of South African Reserve Bank (SARB) currency and exchange control regulations.
• Experience in conducting agreed-upon procedures reviews and issuing relevant reports.
• Strong understanding of financial auditing standards and compliance frameworks.
• Capability to interpret and verify licensing agreements and related financial calculations.