Objectives

The primary objective of this tender is to engage a qualified service provider to review the GRAP and mSCOA compliant Annual Financial Statements (AFS) of Thembelihle Local Municipality for the financial years 2025/26, 2026/27, and 2027/28. The review aims to ensure the accuracy, completeness, compliance with applicable standards, and proper disclosure of the financial statements before submission to the Auditor General and other stakeholders. It also seeks to identify material errors, omissions, inconsistencies, and areas for improvement to facilitate a smooth audit process.

Scope

The scope of work includes:

• Agreeing the AFS to supporting schedules where applicable.
• Confirming adherence to GRAP requirements as per the GRAP Checklist.
• Evaluating key disclosures for accuracy and completeness.
• Reconciling current year balances with prior year audited statements.
• Verifying note references and amounts on financial statements and disclosures.
• Ensuring proper layout, formatting, and presentation of the financial statements.
• Confirming application and disclosure of GRAP 104 in the Annual Financial Statements.
• Addressing previous external audit findings related to the financial statements.
• Checking for grammatical and spelling errors.
• Performing any additional procedures necessary to ensure the statements are free from material errors.

Technical Requirements

The service provider must:

• Review and verify that the financial statements are prepared in accordance with GRAP, MFMA, and relevant legislation.
• Ensure the financial statements are supported by adequate accounting records.
• Confirm the disclosures are accurate, complete, and compliant with standards.
• Address previous audit findings and ensure they have been resolved.
• Provide assurance that the financial statements are free from material errors, omissions, and inconsistencies.
• Ensure the layout and formatting are legible, consistent, and professional.

Skills Requirements

The bidder must demonstrate:

• Proven experience in reviewing and auditing public sector financial statements, particularly in accordance with GRAP.
• Qualified personnel, including at least one Chartered Accountant (CA(SA)) registered with SAICA and one Registered Auditor with IRBA.
• Experience with municipal or public sector financial reporting.
• Strong understanding of the MFMA, GRAP standards, and relevant legislation.
• Ability to perform detailed analytical reviews and identify discrepancies or non-compliance.
• Capability to address previous audit findings and implement necessary corrections.