Objectives

The primary objective of this tender is to appoint an external audit service provider for a duration of three years (36 months) to perform independent financial audits of KGF Capital (Pty) Ltd for the financial years 2025 to 2027. The audit aims to provide assurance on the fairness of financial statements, ensure compliance with relevant legislation (FAIS Act), and report on the management of client assets and any irregularities identified during the audit process.

Scope

The scope of services includes:

• Conducting a financial audit of KGF Capital (Pty) Ltd for the financial years ending 31 March 2026, 2027, and 2028.
• Providing an independent opinion on whether the financial statements fairly present the entity’s financial position.
• Providing assurance regarding money and assets held on behalf of clients, ensuring they are kept separate from the company’s assets, and reporting any non-compliance.
• Reporting any irregularities or suspected irregularities identified during the audit to the registrar as per FAIS Act requirements.
• Submitting a statement explaining the reasons for the termination of the auditor’s appointment if services are terminated before the contract ends.
• Enquiring with FSCA regarding any exemptions applicable to the provider under the FAIS Act.

Technical Requirements

The technical requirements specify that the audit firm must:

• Be authorized by the FSCA as a financial services provider (FSP) under FAIS.
• Have experience in auditing financial institutions, with a minimum of 5 years proven experience in external audits within the financial services sector.
• Provide detailed CVs for key team members, including the engagement partner, manager, and external auditors, demonstrating relevant qualifications and experience.
• Demonstrate capability to audit compliance with legislation, asset management, and financial reporting standards.
• Be able to conduct due diligence, including site visits and security/credit vetting if required.

Skills Requirements

The skills and expertise required from the service provider include:

• Extensive experience in external audits, particularly within the financial services sector.
• Knowledge of the FAIS Act and related regulatory requirements.
• Ability to assess and report on compliance with financial legislation and asset management standards.
• Strong analytical, reporting, and communication skills to effectively report findings to the registrar and stakeholders.
• Capacity to undertake due diligence and security vetting processes.
• Proven track record of delivering high-quality audit services within stipulated timeframes.