Objectives

The primary objective of this tender is to appoint a service provider responsible for the full implementation of the revised GRAP 104 (Expected Credit Loss (ECL) Impairment Model) for Nkomazi Local Municipality. The aim is to ensure the municipality's financial reporting aligns with the updated accounting standards over a period of thirty-six (36) months.

Scope

The scope of work includes:

• Full implementation of the revised GRAP 104 (ECL) impairment model within the municipality's financial systems.
• Providing technical support and guidance throughout the implementation period.
• Ensuring compliance with relevant accounting standards and regulations.
• Delivering necessary training and documentation to relevant municipal staff.

Technical Requirements

The technical requirements for the tender include:

• Expertise in GRAP standards, particularly GRAP 104 and ECL impairment modeling.
• Experience in implementing financial impairment models in a public sector context.
• Ability to develop and customize impairment models to suit the municipality's financial data.
• Provision of ongoing technical support and troubleshooting during the implementation period.
• Adherence to all relevant financial and data security standards.

Skills Requirements

The skills required from the service provider include:

• Strong knowledge of accounting standards, especially GRAP 104 and related financial reporting frameworks.
• Proven experience in financial modeling and impairment calculations.
• Technical proficiency in relevant software and data analysis tools.
• Effective communication skills for training and stakeholder engagement.
• Ability to work within strict deadlines and manage project deliverables efficiently.