The selected firm will be responsible for the auditing of WATRA accounts. WATRA therefore invites all firms capable of providing this service to submit their technical and financial proposal in accordance with this Request for Proposal (RFP).
Technical specifications and terms and conditions and any additional information to support a submission can be found below.
The West Africa Telecommunications Regulators Assembly (WATRA) seeks a highly reputable firm that will provide professional external audit service for three (3) years. The selected firm will be responsible for the auditing of WATRA accounts. WATRA therefore invites all firms capable of providing this service to submit their technical and financial proposal in accordance with this Request for Proposal (RFP).
Technical specifications and terms and conditions and any additional information to support a submission are described in this document.
1.1 ABOUT WATRA
The WATRA was established in November 2002. Its current membership is sixteen (16) countries with headquarters in Abuja, Nigeria. WATRA consists of independent National Regulatory Authorities (NRAs) of member states in the Economic Community of West African States (ECOWAS) and Mauritania.
- Name, title, and contact information
- Description of relevant background
- Description of services offered
- At least two satisfactory references for past or ongoing audit of international organizations in the past 10 years.
- Memberships in internationally recognized accounting and auditing bodies
- The bidder should declare and demonstrate if it:
- Is independent from other institutions of its government;
- Has full budget control and autonomy;
- Is independent when determining the scope of work;
- Has demonstrated objectivity and integrity in the discharge of its duties and responsibilities
- Outline how the auditing firm meets the required qualifications and experience
- Identify team members to be involved with the project and their role/experience.
- The Bidder shall provide a detailed description of the proposed audit strategy, approach and procedures including at a minimum:
- Use of comprehensive work plans to ensure adequate audit coverage
- Demonstration of extensive experience in conducting financial and compliance audits in conformity with best practices as well as economy, efficiency, and value for money audits
- Code of professional and ethical conduct applicable to its entire staff and documented disciplinary procedures in the case of deviation from the code
- Quality assurance procedures and programmes to ensure audit work is of the required standards
- The Bidder shall provide the list of audit tools to be used to accomplish their role
- The bidder should provide a description of the reporting mechanisms, including details concerning:
- The structure and format of audit reports and management letters;
- Timely discussion of findings and recommendations with WATRA Management;
- Provide final draft of audit reports to the Executive Secretary for his comments; Final audit reports for presentation to and discussion at the AGM; Compliance with International Auditing Standard
- Note that the final audit reports and management letters (2 to 4 copies each) must be provided in both Languages (English and French)
4.2 FINNANCIAL PROPOSAL
The financial proposal is to be submitted as a separate document and shall include at a minimum, the following mandatory information and documents:
•The Bidder’s fixed annual fee for each of the audit years
•The Bidder’s quotation, with the prices presented as follows:
i.In a precise and unequivocal manner ii.Fixed for the term of the mandate
iii.Be quoted in US Dollars ($) only and be inclusive of all taxes
iv.Be inclusive of any and all overhead costs, administrative charges, expenses and duties that the Bidder may incur in order to provide the services described, including but not limited to secretarial, travel and accommodation costs.
The payment principle applied is a maximum 40% of annual fees is payable upon receipt of the final report by the Executive Secretariat and 60% upon the adoption of the report at the AGM of the new financial year.
All responses must be submitted to email@example.com and received by 16:00 on 31 August, 2022.
If you should have any questions about this proposal, or need additional information, please contact: firstname.lastname@example.org