Objectives

The primary objective of this tender is to appoint a suitable and independent internal audit service provider to perform internal audit functions for the Western Cape Gambling and Racing Board (WCGRB). The appointed firm will provide independent assurance and consulting services aimed at enhancing governance, risk management, internal controls, and operational efficiency in accordance with international standards, notably the latest IPPF and Global Internal Audit Standards.

Scope

The scope encompasses a comprehensive internal audit function including:

• Review and recommend improvements to the Internal Audit Charter and Audit and Risk Committee Charter.
• Develop and implement the Internal Audit Strategy aligned with international standards.
• Update and standardize internal audit methodologies across all assignments.
• Perform risk-based internal audit engagements based on a three-year rolling audit plan, including the development of audit universe, risk and control matrices.
• Evaluate risk management and governance systems, conduct special investigations, and report findings.
• Coordinate with external assurance providers, including the Auditor-General, to ensure coverage and avoid duplication.
• Utilize technology and automation, including CAATs and data analytics, to improve audit efficiency.
• Provide annual assessments of internal controls, governance, and risk management environments.
• Maintain independence, objectivity, and confidentiality throughout the engagement.

Technical Requirements

The technical requirements for the tender include:

• Qualifications & Experience:
  • Demonstrated expertise in internal auditing within the public sector.
  • Team members must have relevant professional certifications (e.g., CIA, CISA, ISACA certifications).
  • Engagement Director must possess skills to perform the Chief Audit Executive (CAE) functions.
  • Junior staff must have appropriate skills and qualifications.
• Past Performance:
  • Experience in executing similar internal audit projects, especially in public entities.
  • At least three recent references demonstrating quality, timeliness, and value addition.
• Methodology & Approach:
  • Submission of an Approach Paper detailing the proposed methodology, including risk-based planning, audit execution, reporting, and follow-up.
  • Experience and expertise in using CAATs and data analytics tools.
  • Alignment with the 2025 Global Internal Audit Standards, including innovative and strategic planning considerations.
• Presentation & Evaluation:
  • Shortlisted bidders must deliver a detailed presentation demonstrating understanding of the scope, methodology, and compliance with standards.
  • Minimum score of 70 points in the presentation stage to proceed.
• Pricing & Contractual:
  • Provide firm prices, hourly rates, and a schedule of all other applicable fees for the 3-year contract period.
  • Adherence to the pricing schedule and submission of an Excel-based detailed budget.
• Compliance & Legal:
  • Compliance with tax legislation, procurement regulations, and anti-collusion measures.
  • Submission of all statutory and statutory compliance documents, including BBBEE certificates and declarations.
  • Adherence to confidentiality, conflict of interest, and anti-fraud policies.

In summary, the technical requirements focus on demonstrated expertise, compliance with international standards, innovative methodology, proven past performance, and transparent, competitive pricing aligned with the scope of internal audit services required by WCGRB.