SOLOMON ISLANDS CHAMBER
OF COMMERCE AND INDUSTRY
SICCI Call for Expression of Interest for External Audit Services
SICCI is seeking external audit services for the years 2020 to 2023 from a reputable firm.
Duties and Responsibilities of the Auditor
The external auditor shall be required to perform compliance audits and roles, duties and responsibilities shall include the following:
- Conducting independent audits of SICCI operations in line with International Standards on Auditing and International Financial Reporting Standard
- Expressing an opinion on whether the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting standards and frameworks,
- Expressing an opinion on whether SICCI has maintained proper books of accounts, and whether the accompanying financial statements give a true and fair view of the financial position and performance of the organization,
- Providing any other value-addition services as approved by the Finance Sub Committee.
Required Profile of the Audit Firm
Bidding firms will be required to meet the following criteria:
- Be registered with the Institute of Solomon Islands Accountants (ISIA)
- CPA-qualified or similar (ACCA, ACA)
- Have at least two partners of good standing with ISIA. Further, the firm and its partners should not have been subject to any disciplinary action by ISIA or other related professional bodies
- Should have been in operation for a period of at least five years
- Should demonstrate that it has the capacity, capability and experience required to undertake the audit within required time lines
- The firm should demonstrate adequate external audit experience with non-government bodies including trade unions.
Request for Proposal Submission
Firms meeting the above criteria are requested to submit their proposals in a sealed envelope as follows:
a) Technical Proposal containing:
- Confirmation of the firm’s understanding of the Terms of Reference (TORs) and its capacity and capability to deliver on the TORs;
- The methodology, work-plan and timelines for undertaking and completing the assignment, and the deliverables;
- Appropriate references to demonstrate the experience specified in the TOR;
- The CVs of key staff proposed to carry out the assignment
b) Financial Proposal indicating the proposed fees for a regular audit and any incidental expenses.
c) Other Requirements
- Proof of registration with ISIA and copies of Partners’ Practicing Certificates or documents attesting to the same.
- Confirmation that neither the firm, not any of its partners or key staff, have faced any disciplinary action by ISIA or other professional bodies;
- Confirmation that the firm and/or its partners and key staff are not aware of any conflict of interest which may exist with respect to SICCI;
- Details of at least three prior audit assignments, including the contact details of the references;
- A list of clients for which the firm has performed similar assignments;
- A schedule outlining tentative dates for completion of the audit process.
Evaluation of Proposals
Submitted proposals will be evaluated by SICCI Executive Management Board. In informing their decision, the SICCI Finance Sub-Committee will take into account inter-alia, the following evaluation criteria:
- The audit firm is independent and has no conflict of interest with regard to any other work performed by the firm for SICCI;
- The firm adheres to the instructions in this call;
- The firm’s qualifications, experience, size and location;
- The firm’s past experience and performance on comparable external audit engagement
- The quality of the firm’s professional personnel to be assigned to the engagement and the quality of the firm’s management support personnel to be available for technical consultation;
- References from persons knowledgeable of the firm’s ability to fulfill the terms of the contract
- Adequacy of Audit Approach
- Cost of services
All queries on this matter please address to
email@example.com or to phone 39542