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Request for Proposal for External Audit Engagement

Auditing Firms (”Firm/s”) are invited to participate in a Request for Proposal (“RFP”) process for the provision of external audit services to Compliance Institute Southern Africa (“CI SA”). The purpose of this document is to advise firms of the process which the Audit and Risk Committee will adopt in selecting the firms to be recommended for appointment. It is anticipated that CI SA will not be liable for any costs incurred in the preparation of responses to the RFP.
The proposal is expected to cover the annual external audit of the CI SA financial statements for the year ended 31 December 2019, and beyond, in accordance with IFRS.

Each firm are required to submit a written proposal of no longer than 20 pages, setting out its capabilities, the key elements of their service and team, as well as their proposed fee by Friday the 6th of September 2019.
The proposal should incorporate at a minimum, the following requirements:
  • Firm profile;
  • Professional experience in performing similar size and scope audits;
  • Resourcing and qualifications;
  • Approach;
  • Transition;
  • Independence and governance;
  • Cultural fit and business chemistry; and
  • Fees.
CI SA may request a short question and answer session with CI SA and if needed a presentation to support your proposal.

Timelines

Please find below our proposed timeline for appointment process. These dates are subject to change and proposing firms will be informed of any changes thereto as and when they occur:
Request for proposal issued Fri, 30 Aug 19
Written proposals submitted by end of day Fri, 6 Sep 19
Invitation sent to a shortlist of bidders to present (if required) Thu, 12 Sep 19
Presentation to CI SA (if required) Wed, 16 Sep 19
Final selection by Tue, 17 Sep 19
Negotiate terms by Thu, 26-Sep-19
Signed engagement letter Thu, 24-Oct-19

Contact

Any queries regarding this request for proposal, requests for additional information or requests for meetings should be directed to Danie Swart:

Email: governance@compliancesa.com Tel +27 (0) 11 642 7974 Cell +27 (0) 83 387 8059.

Information provided

All required information on the CI SA may be found on the following resources:
  1. Our website www.compliancesa.com
  2. The attached annual financial statements

Proposal considerations

In evaluating proposals, we consider various factors including:
  • Professional experience in performing similar size and scope audits;
  • eam competence
  • Service approach
  • Cultural fit and business chemistry;
  • Fees
  • Quality

Confidentiality

The information, material and documents that will be made available to Firms in respect of this RFP, may not be used for any purpose other than by the Firm for developing a Proposal for the provision of external audit services to CI SA . The Firm may provide information or knowledge gained during the RFP process to its employees on a “need to know basis” and may not share information with third parties without the written consent of CI SA.

We appreciate the commitment provided in responding to this request for proposal and look forward to your timely submissions.