Objectives

The primary objective of this tender is to appoint an experienced and suitably qualified service provider to assist the Johannesburg Development Agency (JDA) with the full implementation of GRAP 104 (Financial Instruments) for the 2025/26 financial year. The successful provider will ensure compliance with the revised accounting standards, including developing risk matrices, preparing disclosure templates, and providing technical support during the implementation and audit processes.

Scope

The scope of work includes:

• Full implementation of GRAP 104, covering measurement, impairment, accounting treatment, and disclosures of financial instruments.
• Recommendation of necessary changes and development of a financial instruments risk matrix to document counterparty risk exposure.
• Preparation of GRAP 104 compliant disclosure templates and supporting documentation.
• Development of a methodology and project plan, including deliverables and timelines.
• Capacity building and support during the audit period.

Technical Requirements

The technical requirements for the tender include:

• Demonstrated experience in implementing GRAP standards, with a minimum of 7 years of relevant experience.
• Provision of detailed CVs for personnel assigned, highlighting experience in GRAP 104 implementation.
• Certification or good standing with SAICA for the project leader/manager.
• A comprehensive methodology outlining the approach to implementation, including risk assessment, system alignment, and disclosure preparation.
• Provision of at least five contactable references related to GRAP or IFRS 9 implementation projects.
• Clear project plan with defined deliverables, timeframes, and capacity to support during the audit period.

Skills Requirements

The skills required from the service provider include:

• Expertise in financial reporting standards, particularly GRAP 104 and IFRS 9.
• Strong project management skills to develop and adhere to detailed implementation plans.
• Technical proficiency in developing disclosure templates and risk matrices.
• Capacity to provide training and capacity building to JDA staff and support during audits.
• Experience in working with public sector entities and understanding of compliance requirements.
• Proven ability to deliver quality outputs within tight timelines over a five-month period.