Objectives

The primary objective of this tender is to engage qualified external auditors to perform statutory external audits of SACNASP's financial statements. The auditors are expected to provide an independent opinion on whether the financial statements fairly present the financial position of SACNASP in accordance with relevant standards and regulations. Additionally, the auditors will identify system weaknesses, ensure compliance with applicable laws, and deliver management reports with recommendations for improvement.

Scope

The scope of work includes:

• Performing annual statutory external audits in accordance with the Public Audit Act of South Africa, International Standards on Auditing, and other relevant directives.
• Expressing an independent professional opinion on the financial statements for a period of three years starting with the 2025/26 financial year.
• Conducting audit reviews to evaluate accounting policies, significant estimates, and compliance with laws and regulations.
• Preparing and submitting management letters highlighting deficiencies, system weaknesses, and recommendations.
• Assessing the appropriateness of accounting policies and the accuracy of supporting documents.

Technical Requirements

The technical requirements for the audit include:

• Compliance with the Public Audit Act, International Standards on Auditing, and directives from the Auditor General of South Africa.
• Submission of a comprehensive audit plan and methodology, including risk and fraud detection approaches.
• Provision of reference letters from at least two public entities with revenue above R15 million, dated within the last five years.
• Demonstration of experience in auditing statutory bodies, with a minimum of 1-3 years of relevant experience.
• Availability of qualified staff, including partners, managers, senior auditors, and articled clerks, with details of their qualifications and experience.
• Provision of a detailed fee proposal, including anticipated costs for additional services and for the second and third years.
• Clear outline of the audit approach, including risk management and fraud detection strategies.

Skills Requirements

The skills and personnel requirements include:

• Authorisation by the State Board of Accountants to conduct audits.
• Experienced audit team with qualified professionals such as partners, managers, senior auditors, and articled clerks.
• Proven experience in external audits of public entities or statutory bodies.
• Strong technical expertise in auditing standards, accounting policies, and legal compliance.
• Capability to provide timely responses to queries and deliver quality audit reports within the stipulated timeframe.
• Staff stability and commitment to assigning permanent personnel to the engagement.
• Ability to develop and implement a comprehensive audit methodology aligned with best practices.