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Master Services Agreement 03 – Audit Quality & Reporting
Details
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Tender Closed
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| RFx ID : | 24895893 |
| Tender Name : | Master Services Agreement 03 – Audit Quality & Reporting |
| Reference # : | |
| Open Date : | Thursday, 30 September 2021 3:00 PM (Pacific/Auckland UTC+13:00) |
| Close Date : | Thursday, 11 November 2021 5:00 PM (Pacific/Auckland UTC+13:00) |
| Tender Type : | Request for Proposals (RFP) |
| Tender Coverage : | On behalf of procurement agent [?] |
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| Exemption Reason : | None |
| Required Pre-qualifications : | None |
| Contact : |
Natalie Price secretariat@pasai.org |
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PASAI would like to invite suitably qualified professionals to apply for a Master Services Agreement 03 that is based around a need for services centered upon providing advice to Supreme Audit Institutions (SAI’s) on their Audit Quality & Reporting, including the outputs of the audit/control work that is the core business of any SAI.
This includes an indicator that measures the SAI’s audit coverage for each of the audit disciplines (financial, performance and compliance). Selected consultants will be expected to assist SAI’s to ensure that the three type of audits have been carried out as per international best practices, while training to develop capacity wherever weaknesses are identified. Brief description for each of the different types of audits is provided below:
Financial audit determines whether an entity’s financial information is presented in accordance with the applicable financial reporting and regulatory frameworks. This is achieved by obtaining sufficient and appropriate audit evidence to enable the auditor to express a reasonable assurance-based opinion on whether the financial information is free from material misstatement, whether due to fraud or error. ISSAI 200 elaborates on this further.
Performance audit assesses whether interventions, programmes and institutions are performing in accordance with the principles of economy, efficiency and effectiveness, and whether there is room for improvement. This is achieved by examining performance against suitable criteria, and by analysing the cause of deviations from criteria or problems. The aim is to answer key audit questions and to provide recommendations for improvement. ISSAI 300 elaborates on this further.
Compliance audit determines whether a particular subject matter is in compliance with applicable authorities identified as criteria. Compliance auditing is performed by assessing whether activities, financial transactions and information are, in all material respects, in compliance with the authorities which govern the audited entity. ISSAI 400 elaborates on this further.
Based on experience, consultants can apply to be selected to provide services for either one of the different types of audits or all three. This Master Services Agreement will be set out for 1 year along with an option to extend for another year.
No Winner Contracts awarded 30 September 2021. John Vila and Kevin Hughs engaged to complete to financial audits in the Pacific. Sole traders so haven't posted names on GETS
