DEADLINE: 10TH JANUARY, 2023, 12.000 NOON
NIGER STATE MINISTRY OF WORKS AND INFRASTRUCTURAL DEVELOPMENT
REQUEST FOR EXPRESSIONS OF INTEREST – REOI (CONSULTING SERVICES-FIRMS SELECTION) FOR ENGAGEMENT OF EXTERNAL AUDIT FIRM
COUNTRY: NIGERIA
CLIENT: NIGER STATE MINISTRY OF WORKS AND INFRASTRUCTURAL DEVELOPMENT
PROJECT: DUALIZATION OF MINNA-KATAERGI-BIDA ROAD PROJECT IN NIGER STATE (82KM)
SELECTION METHOD: LEAST COST SELECTION METHOD (LCM)
MODE OF FINANCING: SERVICES IJARAH FRAMEWORK AGREEMENT
FINANCING NO.: (NGA-1002)
REFERENCE NO: DMKBRP/CON/LC/001/2022
ASSIGNMENT TITLE: REQUEST FOR EXPRESSION OF INTEREST (REOI) FOR THE ENGAGEMENT OF AN EXTERNAL AUDIT FIRM FOR THE DUALIZATION OF MINNA-KATAERGI-BIDA ROAD PROJECT IN NIGER STATE (82 KM).
The Government of Niger State has received a credit financing from the Islamic Development Bank (IsDB) toward the cost of the Niger State Ministry of Works and Infrastructural Development, and intends to apply part of the proceeds for consulting services.
The consulting services for the Engagement of an External Audit Firm for the Dualization of Minna – Kataergi- Bida Road Project (82Km) in Niger State (“the Services”) includes; to enable the auditor to express a professional opinion as to whether (i) the Project Financial Statements (PFS) show true and fair view of the Project’s financial position as of as at 31st Jan. 2022 and funds receipts and expenditures incurred during the period then ending, (ii) Expenditures reimbursed on basis of Statements of Expenditures are eligible to Bank financing and are reflected on the PFS, and for this purpose, the auditing Firm shall carry out whatever necessary examinations of the statements and underlying records and control systems. The Audit opinion should also state whether the Procurement Guidelines of the Islamic Development Bank have been properly applied and in accordance with the Project’s Financing Agreement.
SCOPE OF SERVICE
To achieve the core objectives of this assignment as stated above, the audit subject of this Terms of Reference is considered as a special purpose contractual agreement audit for which, in addition to compliance with international standards as explained below, the auditor needs to take into consideration the Islamic Development reporting requirement and compliance with Islamic Development Procurement Guidelines.
The audit will be carried out in accordance with Generally Accepted Auditing Standards (GAAS) such as the International Standards on Auditing (IAS) issued by the International Federation of Accountants (IFCA) or the Audit Standards issued by the International Organization of Supreme Audit Institutions (INTOSAI), having regard to relevant financing agreements and Islamic Development Bank’s particular requirements, and should pay special attention to the following:
(a) All funds provided to the Project have been used, accounted for and classified in accordance with the relevant financing agreements;
(b) All the transactions related to the project are reflected in the PFS issued according to Generally accepted Accounting Policies;
(c) Goods, works and services financed have been procured in accordance with the relevant financing agreement;
(d) All necessary copy of supporting documents, records, and accounts have been kept in respect of all project. Clear linkages should exist between the books of account and reports presented to the Bank;
(e) Compliance with specific covenants of the Financing Agreement, (Project Agreement and Subsidiary Financing Agreement} (e.g., compliance with the short-term and long-term borrowing conditions, cash flow covenant);
(f) Eligibility of expenditures claimed under Statement of Expenditures submitted to the Islamic Development Bank for replenishment. This is in addition to substantiation of these expenditures;
(g) External funds have been used in accordance with the conditions of the relevant financing agreements, with due attention to economy and efficiency, and only for the purposes for which the financing was provided;
(h) Counterpart funds have been provided and used in accordance with the relevant financing agreements, and only for the purposes for which they were provided.
(i) The PFS have been prepared in accordance with generally accepted accounting principles and practices, and give a true and fair view of the financial position of the Project as at 31st Jan. 2022 and of the resources and expenditures for the fiscal year then ending.
The auditor will be expected to review all correspondences with the Islamic Development Bank in relation to the Project including copies of the Aide Memoires, Mission Reports, and assess progress on all financial issues. The auditor will pay special attention to any specific risk area as mentioned in the project documents (such as PAD, etc.)
DURATION OF SERVICE
The Auditing engagement shall be for an initial period of 12 Months.
The detailed Terms of Reference (TOR) for the assignment can be found at the following website; N/A
Niger State Ministry of Works and Infrastructural Development now invite eligible auditing firms (“Consultants”) to indicate their interest in providing the Services, interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. Tire shortlisting criteria are:
The audit firm should be registered as authorized to practice in Nigeria and have partners with practice licenses from a national professional accountancy body with IFAC membership. The firm should have relevant experience in accounting and auditing of development projects, especially donor-funded operations.
QUALIFICATIONS AND EXPERIENCE OF THE AUDITING FIRM.
The shortlisting criteria
- The Auditing firm must general experience in the preparation of financial statements (Auditing) in civil works contract within the last 10 years.
- Demonstration of effective organizational/ managerial structure and availability of suitably experience key personnel relevant to the assignment, consisting of professional – Team Lead/Project Manager, Senior Auditor and Associate Auditor, etc.
- Demonstration of firms professional and or legal status.
- Demonstration of at least seven similar and related assignments carried out in the last five years – demonstration of four such assignments carried out in Donor funded projects like IsDB, WB, AFDB etc. will be added advantage.
- Demonstrate current membership of professional association/s.
Key Experts will not be evaluated at the Shortlisting Stage, however, the Auditing firm must ensure key professionals for the assignment – Team Lead/Project Manager, Senior Auditor, Technical Auditor, Associate Auditor, etc. with their resumes, key qualifications, General and specific experience, etc.
The attention of interested Consultants is drawn to Paragraphs, 1.23, and 1.24 of the Guidelines for Procurement of Consultant Services under Islamic Development Bank Project Financing (the “Procurement Guidelines”) setting forth IsDB’s Policy on conflict of interest.
Consultants may associate with other firms to enhance their qualifications, but should indicate clearly whether the association is in the form of a joint venture and/or a sub-consultancy. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if selected.
A Consultant will be selected through National Shortlist in accordance with the Least Cost Selection method (LCM) set out in the Procurement Regulations.
Interested consultants may obtain further information can be obtained at the address below during office hours from 10:00a.m to 4:00p.m. Mondays to Fridays, excluding public holidays.
Expressions of interest in well-sealed packaged -articulated (bind) in two (2) copies (with soft copy in flash drive included in the submission) must be delivered in a written form to the address below in person, on or 12:000 Noon Tuesday 10 Jan. 2023. With soft copy in flash drive included in the submission
The Permanent Secretary,
Niger State Ministry of Works and Infrastructural Development,
Abdulkareeem Lafene Secretariat Complex
Minna, Niger State, Nigeria.
Tel: 07036916585
Email: abubakarysalisu@gmail.com
