Objectives

The primary objective of this tender is to appoint a professional service provider for the preparation of annual financial statements for the Elundini Local Municipality over a period of two years. The service provider will ensure compliance with GRAP standards, update accounting records, and facilitate skills transfer to municipal staff. Additional objectives include responding to audit queries, conducting valuations, reviewing asset useful lives, and supporting mSCOA implementation.

Scope

The scope of work encompasses:

• Preparation of annual financial statements for two consecutive years.
• Preparation of interim financial statements for the same period.
• Responding to audit queries and compiling audit action plans.
• Updating and reconciling accounting records in preparation for municipal reporting.
• Providing ad hoc reports as requested by the CFO.
• Reviewing conditional assessments of assets.
• Unbundling of new infrastructure assets and related support.
• Supporting mSCOA implementation and support within the municipality.
• Valuations of landfill sites and actuarial valuations for post-retirement benefits and long service awards.
• Reviewing useful lives, residual values, and depreciation methods of Property, Plant, and Equipment as per GRAP.
• Assisting with policy and procedure updates.
• Transferring skills to municipal officials through training and on-site support.

Technical Requirements

The technical requirements include:

• Demonstrated knowledge and experience in preparing financial statements in accordance with GRAP standards.
• Availability of qualified staff on-site to perform and transfer skills.
• Ability to work collaboratively with the Budget and Treasury Office staff.
• Provision of training to municipal officials on GRAP standards and financial statement preparation.
• Experience in asset valuation, mSCOA support, and actuarial valuations.
• Capacity to respond effectively to audit queries and implement audit action plans.
• Provision of ad hoc reports and support for policy reviews.

Skills Requirements

The successful bidder must possess:

• Qualified and experienced team members, including a project leader registered as a CA(SA) (SAICA or IRBA).
• Certified copies of qualifications and experience in local government and the MFMA framework.
• Demonstrated experience in preparing GRAP-compliant financial statements and supporting municipal financial processes.
• Proven experience in asset valuations, actuarial assessments, and mSCOA implementation.
• Strong project management and communication skills to facilitate skills transfer and stakeholder engagement.
• Ability to meet deadlines and deliver quality outputs within the specified timeframes.