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REQUEST FOR EXPRESSION OF INTEREST CONSULTANCY SERVICES FOR AN EXTERNAL AUDIT FIRM FOR GHANA GAS

  • SOURCE: | Editor
    • POSTED ON: June 14, 2018
    • AUTHOR: Editor
    • CATEGORY:

    GHANA GAS

    REQUEST FOR EXPRESSION OF INTEREST

    CONSULTANCY SERVICES FOR AN EXTERNAL AUDIT FIRM FOR GHANA GAS

    CONTRACT #: GNGC/PS/0027/18

     

    • INTRODUCTION

    The Ghana National Gas Company (GNGC) intends to use part of its 2018 budgetary allocation to secure the services of an External Audit firm to conduct financial audit for Ghana Gas. Ghana Gas has the responsibility to build, own and operate the infrastructure required for gathering, processing and delivering natural gas resources in a safe, cost effective, responsible and reliable manner to customers.

    • OBJECTIVES OF THE ASSIGNMENT

    The objectives of this assignment as set out below include, but not limited to, the following:

    • to conduct a financial audit as per International Auditing Standards and express an opinion whether the financial staements prepared by the directors presents a true and fair view of the state of the financial affairs of the organization in accordance with International Financial Reporting Standards (IFRS) and the Ghana Company code 1963 (Act 179).
    • To evaluate the effectiveness of financial, management and governance, programs and administrative systems, controls and structures of the organization.
    • To review the effectiv4eness of the Company’s risk management systems and processes
    • To review the Company’s compliance with both internal and external policies and review compliance with the laws of Ghana.

     

    • SCOPE OF SERVICES

    The Terms of Reference addresses audit requirement for the audit of financial statements of GNGC covering Financial Years 2016and 2017and thereafter, the period 1stJanuary – 31stDecember of each year.

    The certified financial statements for the financial year will be made available no later than 31stMarch following the end of the financial year.

    The audits should be carried out in accordance with International Standards of Auditing (ISA) and International Financial Reporting Standard (IFRS). In complying with International Standards on auditing, the auditor is expected to pay particular attention to the following matters:

    1. Fraud and errors: consider the risks of material misstatements in the financial statements due to fraud as required by ISA240: The auditor is required to identify and assess risk of material misstatements due to fraud, obtain reasonable assurance that the financial statements taken as a whole are free from material misstatements, whether caused by fraud or error.
    2. Laws and Regulations: in designing and performing audit procedures, evaluating and reporting the results, consider that noncompliance by GNGC with laws and regulations may materially affect financial statements as required by ISA250: consideration of Laws and Regulations in an Audit Financial Statement.
    3. Risks: The Auditor should evaluate the control environment of the Company in order to assess the risk level and its potential impact on the financial statement.

    The Auditor shall design and perform further audit procedures whose nature, timing and extent are based on and are responsive to the assessed risks of material misstatement at the assertion level as required by Internal Standard on Auditing 330: The Auditor’s Response to Assessed Risks.

    Sufficient audit evidence should be gathered to substantiate in all material respects the accuracy of the Financial Statement.

    The audit report should state if the audit was not in conformity with any of the above standards and National Laws and Regulations have been complied with, and that the Financial and Accounting procedures approved for the Company (Human Resource Manual, Financial Procedures Manual, etc.) were followed and used.

     

    • SELECTION CRITERIA

    Interested External and Internal Firms shall provide the following documents as part of their EOI submissions:

    • Company profile
    • Legal status of the firm including valid Business Registration, valid SSNIT and Ghana Revenue Authority Clearance Certificates
    • Capability Statement from only A1and AExternal Audit firms.
    • Indicate number of key personnel to be deployed for the assignment
    • Provide information and evidence of previously executed similar assignments, this must include experience in providing External Audit Services for Oil and Gas firms in the last five (5) years.

    Interested external audit firms may obtain further information from the Head of Procurement, on Tel. No. 00-233-302-744207between 8:30am and 4:30am (Monday – Friday) or by email: Freda.mensah@ghanagas.com.ghfrom Thursday, 31stMay 2018.

    Expressions of Interest and supplementary documents (one original and four copies), all in English, should be placed in a sealed envelop clearly marked “PROVISION OF EXTERNAL AUDIT SERVICES FOR GHANA GAS” and addressed to (I) below:

    (I) THE CHIEF EXECUTIVE OFFICER

    GHANA NATIONAL GAS COMPANY

    1. O. BOX CT. 3686, CANTONMENTS, ACCRA

    TEL. NO.: 00-233-302-744211 / 12

     

    Consulting firms will be selected in accordance with the procedures set out in the Public Procurement Act, Act 663 (2003), and as amended in Act 914 (2016) of the Republic of Ghana.

    The submissions shall ot be more than twenty (20) pages to include cover letter and supplementary documents. All documents shall be delivered to the Procurement Department located at the No. 10 Drake Avenue, Airport Residential Area, Airport, Accraon or before 11am on Thursday, 21stJune 2018.

    Late submissions shall not be accepted.

    Only short-listed External Audit firms shall be issued with request for proposals (RFP) documents.

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