Objectives

The primary objective of this tender is to appoint a qualified and experienced service provider to assist MISA in the preparation of GRAP-compliant annual and interim financial statements for the financial years 2025/26 and 2026/27. The service provider will support the review and revision of the asset register, ensure compliance with recent GRAP standards (notably GRAP 1 and GRAP 104), address audit findings for 2024/2025, and transfer skills to MISA’s finance staff to enhance their capacity in financial reporting and disclosures.

Scope

The scope of work includes:

• Preparation of annual financial statements (AFS) for 2025/26 and interim and annual financial statements (IFS) for 2026/27 in accordance with GRAP standards.
• Review and resolution of prior period audit issues and audit findings.
• Updating and reviewing accounting policies aligned with GRAP standards.
• Ensuring accurate mapping from Sage System to CaseWare and clearing errors for smooth data rollover.
• Compilation, review, and submission of draft and final financial statements, including supporting schedules, notes, and disclosures.
• Addressing technical accounting issues during the audit process.
• Revising and updating the asset register throughout the contract period.
• Transferring skills to MISA finance staff to build internal capacity.

Technical Requirements

The service provider must demonstrate:

• Proven experience in preparing and reviewing GRAP-compliant financial statements, especially in the public sector.
• Technical capacity to perform complex calculations related to recent GRAP revisions, including expected credit loss modelling and disclosures.
• Ability to review and update accounting policies in line with GRAP standards.
• Expertise in using CaseWare for financial statement preparation, supporting schedules, and error correction.
• Capacity to address audit issues and provide technical support during the audit process.
• Provision of detailed CVs and proof of previous engagements with public sector institutions, including evidence of unqualified audit opinions.

Skills Requirements

The successful service provider must possess:

• Qualified professionals with expertise in public sector financial reporting under GRAP standards.
• SAICA membership and relevant university qualifications.
• Experience in complex financial analysis, especially related to financial instruments and credit loss calculations.
• Strong technical knowledge of GRAP standards, especially GRAP 1 and GRAP 104.
• Proficiency in using CaseWare and Sage systems for financial reporting.
• Ability to transfer knowledge and build capacity within MISA’s finance team.
• Proven track record of delivering accurate, timely, and compliant financial statements with no material audit findings.