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 service provider will support the agency in ensuring compliant and effective adoption of the revised accounting standards, including developing risk matrices, preparing disclosure templates, and providing capacity building and training.

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.
• Collaboration with management to ensure integration of new standards into existing financial systems and policies.
• Provision of training to relevant staff and support during the audit period.

Technical Requirements

The technical requirements for the tender include:

• Demonstrated experience in implementing GRAP standards, particularly GRAP 104, with a minimum of 7 years’ experience for key personnel.
• Provision of detailed CVs for assigned personnel, including evidence of SAICA membership or good standing.
• A comprehensive methodology outlining the approach to implementation, including project plan, deliverables, and timeframes.
• At least five contactable references from previous similar projects, with at least four references confirming successful implementation of GRAP standards.
• Clear and detailed pricing proposal based on the scope of work, including implementation, training, manuals, and other disbursements.
• Adherence to the prescribed bid documentation and submission procedures.

Skills Requirements

The successful service provider must possess:

• Extensive experience in financial reporting standards, especially GRAP 104 and related IFRS standards.
• Strong project management skills with the ability to develop and execute detailed project plans.
• Technical expertise in financial instruments, risk assessment, and disclosure preparation.
• Proven capacity to train and support staff during implementation and audit phases.
• SAICA membership or equivalent professional standing for project personnel.
• Ability to provide references demonstrating successful past projects in similar scope and complexity.