Objectives

The primary objective of this tender is to appoint a service provider responsible for supplying, delivering, customizing, and implementing an Expected Credit Loss (ECL) model that is compliant with GRAP 104 standards. The solution aims to support SAQA's Annual Financial Statements (AFS) over a period of 24 months (2 years), ensuring accurate calculation of provisions for expected credit losses on receivables and other financial instruments, and facilitating relevant disclosures in line with the revised GRAP 104 standard.

Scope

The scope of work includes:

• Development and customization of a GRAP 104 compliant ECL model for receivables and financial instruments.
• Implementation of the model to support SAQA's AFS for the applicable financial years.
• Data import capabilities from the Accpac system, either directly or indirectly.
• Preparation of data as required for the model.
• Performing relevant calculations for all financial instruments, including receivables, for both the prior and current financial years.
• Generating schedules, disclosures, and supporting leads for all financial instruments as per the applicable standards.
• Providing related services to ensure compliance with GRAP 104 and supporting the preparation of the SAQA AFS.

Technical Requirements

The technical requirements for the project include:

• A robust methodology aligned with the accounting standards and tailored to SAQA’s financial instruments.
• The model/tool must facilitate data import from the Accpac system, either directly or via an intermediary process.
• The model should accurately perform calculations for expected credit loss provisions, including relevant disclosures.
• The solution must support the preparation of schedules, leads, and disclosures for all financial instruments, including receivables.
• The implementation process should include a detailed project plan, timelines, methodologies, and illustrative workings of the model.

Skills Requirements

The successful service provider must demonstrate:

• Proven experience in implementing GRAP-related financial models, particularly for expected credit loss calculations.
• Capability and experience of staff or team leads with relevant qualifications (NQF Level 7 or above) in accounting, finance, or actuarial fields.
• Strong understanding of the preparation of annual financial statements in accordance with GRAP, PFMA, and National Treasury Regulations.
• Ability to develop and implement robust, compliant models and provide related AFS support.
• Experience in data handling, importation, and preparation for financial modeling.
• Good project management skills to ensure timely delivery within the specified timeline of at least 21 business days from commencement.