Objectives

The primary objective of this tender is to engage a qualified service provider to conduct an External Quality Assurance Review of the Internal Audit Function at the Eastern Cape Development Corporation (ECDC). The review aims to assess the adequacy, independence, and effectiveness of the internal audit activities in line with the International Institute of Internal Auditors (IIA) Standard 8.4, ensuring continuous improvement and compliance with best practices.

Scope

The scope encompasses a comprehensive review of the internal audit function, including:

• Evaluation of the internal audit development and operational independence.
• Assessment of the internal audit development profile and staffing.
• Review of internal audit policies, procedures, and compliance with relevant standards.
• Delivery of a detailed External Quality Assurance Review (EQAR) report with findings and improvement recommendations.
• Project delivery scheduled for July 2026.

Technical Requirements

The technical requirements include:

• The review must be conducted in accordance with IIA Standard 8.4 and related best practices.
• The service provider must have a team led by a Certified Internal Auditor (CIA) in good standing with IIASA, with at least 8 years of audit experience, including 5 years in internal audit leadership.
• Key personnel must possess relevant qualifications (minimum NQF Level 7) and demonstrate extensive internal audit experience.
• The review process should include an evaluation of the internal audit's independence, scope, staffing, and compliance with applicable standards and policies.
• The service provider shall submit detailed reports, including findings, recommendations, and an improvement action plan.

Skills Requirements

The successful bidder must demonstrate:

• Proven experience in conducting external quality assessments of internal audit functions, preferably within government or similar sectors.
• Strong knowledge of internal audit standards, governance frameworks, and best practices.
• Ability to independently evaluate and provide constructive feedback on internal audit processes and controls.
• Expertise in report writing, presenting findings, and facilitating discussions with senior management and stakeholders.
• Team members with relevant professional certifications (CIA, CPA, or equivalent) and extensive internal audit experience.

Summary

The tender seeks a qualified and experienced internal audit professional or firm to perform an external quality review of ECDC's internal audit function, ensuring compliance with international standards, independence, and operational effectiveness, with project completion targeted for July 2026.