22 February 2023

REQUEST FOR QUOTATION

Quotations are hereby invited from qualified, experienced and accredited service providers for Appointment of external audit for Capital Infrastructure and Efficiency Grant (CIEG) projects audit.

Advert: WTC- CO/F/CIEG/02/2023 - Appointment of external audit for CIEG projects audit.

Quotations displaying quotation number WTC- CO/F/CIEG/02/2023 must be submitted on/or before the closing time

Closing date                             : 25/02/2023

Closing time                             : 14H00 pm

Validity Period of Tender         : 90 days

All enquiries related to this RFQ may be addressed to this email: scm@waterbergcollege.co.za           

The following documents must accompany your quotation:

·       Copy of CK certificate must be attached indicating member's names and percentage ownership within the enterprise,

·       Valid tax compliant letter with PIN

·       BBBEE registration /a sworn affidavit to claim Preferential Points

·        Proof of CSD registration Report

·        Proof of registration as Chartered Accountant CA(SA)

·        Proof of registration with the Independent Regulatory Board for Auditors (IRBA)

·        At least 5 years' experience in external auditing

·        A company profile with a list of at least 3 contactable reference stating value of work done

·        2 Testimonial letters stating rate of satisfaction

·        Annual Financial Statements for the past 2 years

Waterberg TVET College promotes fair competition among suppliers. Any form of bid-rigging or collusive bidding will be unacceptable. Bidders will be disqualified.

Service providers must submit their quotations and all other required attachments to Waterberg TVET College Central office at Cnr Hooge & Totius streets, Chroompark, 0600 or can alternatively be sent by email to: rfq@waterbergcollege.co.za

Waterberg TVET College does not bind itself to accept the lowest or any quotation. The right is reserved to accept any tender in whole or in part and re-advertise this quotation any time after the closing date.

TERMS OF REFERENCE

1.     Objective of the Audit

The objective of the audit would be to test and confirm if:

1.     The CIEG funding has indeed been applied for repairs and maintenance and not for any operational costs (Validity)

2.     If qualify work has been delivered: (Existence, occurrence and Value for Money)

3.     If reasonable rates have been charged by the contractor for the work paid for; (Accuracy and value for money)

4.     If the projects were critical and of important nature to the college; Linked to the maintenance plan of the college (Valuation)

5.     If a principal agent or other consultants have been appointed o facilitate the projects, to determine if the professional fees payable in this regard are market related (Accuracy and Value for money)

2.     Scope of work

 The scope of work includes the following:

1.     Obtain a detailed CIEG expenditure report from the college financial system for the audit period under review

2.     Obtain a listing of completed CIEG projects from the college for the audit period under review, which must include the total value of expenditure incurred and paid for.

3.     Based on the listing obtained, select a minimum of 5 projects based on the total cost incurred

4.     Trace all reported expenditure per listing, per project, back to the detailed expenditure report obtained from the college financial system

5.     Randomly select a minimum of 5 payment transactions per project (if less than 5 transaction are applicable for a project, all payment must be selected for audit)

6.     Perform a detailed audit check on the payment selected

·        Confirm what the payment was made for

·        Confirm what rates were applied and if these rates paid for are reasonable and market related

·        Physically inspect the work paid for, re-measure quantities (if possible, for instance, square meters of tiling installed, or square metres of roofs painted

·        Check the measured quantities to the quantities paid for

·        Take pictures of the work conducted

·        Assess whether quality work was performed and if value for money was obtained.

7.      Conclude on the following audit assertions relating to

·        Occurrence

·        Existence

·        Accuracy

·        Validity

·        Completeness and valuation

8.     Submission of reports based on the agreed-upon audit procedure on a bi- annual basis to the department in terms of International standards on related services (ISRS) 4400 on the following dates:

·        For the period ending 30 September - by 30 November each year

·        For the period ending 31 March - by 31 May each year

3.     Disclaimer

The auditors appointed must be independent and perceived to be independent from the college and this statement must be included by the auditors in the AUP report.

4.     Pricing 

Pricing on your quotation must be inclusive of all disbursement. Total pricing must be inclusive of VAT.