Objectives

The primary objective of this tender is to appoint a qualified service provider to review the South African National Biodiversity Institute's (SANBI) Fixed Asset Register. The review aims to ensure compliance with Generally Recognised Accounting Practice (GRAP) standards and valuation of assets as per Directive 7 issued by the Accounting Standards Board (ASB). The review seeks to improve asset management, enhance record accuracy, and support unqualified audit reports.

Scope

The scope of work includes:

• Reviewing SANBI’s Fixed Asset Register for compliance with GRAP standards (including standards 1, 3, 16, 17, 31, and 103).
• Assessing the valuation of assets and ensuring proper recording of additions, disposals, transfers, and movements within Work In Progress (WIP).
• Providing recommendations for improvements and identifying any discrepancies or non-compliance issues.
• Delivering a comprehensive report on the review findings and compliance status.

The review period is two months, and the provider must demonstrate practical experience in GRAP asset management and a proven track record with similar institutions.

Technical Requirements

• The service provider must have expertise in applying GRAP accounting standards.
• Proven experience in preparing and maintaining GRAP-compliant fixed asset registers.
• At least three verifiable references from institutions where similar services were provided within the last three years, resulting in unqualified audit reports.
• Ability to review and verify asset valuations, movements, and related documentation.
• Provision of detailed methodology outlining how the review will be conducted.
• Inclusion of a detailed company profile, experience, and CVs of key personnel.

Skills Requirements

• Professional expertise in GRAP standards and asset management.
• Strong analytical and review skills to identify discrepancies and compliance issues.
• Experience in preparing fixed asset registers for public entities or similar organizations.
• Ability to provide clear recommendations and detailed reports.
• Effective project management skills, including coordination and communication with SANBI.
• Qualified personnel with relevant tertiary qualifications and professional registration (e.g., with recognized accounting or auditing bodies).