Expression of Interest for External Audit Engagement

Consultancies

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EXPRESSION OF INTEREST FOR EXTERNAL AUDIT ENGAGEMENT
REF. Number: FAM/GS/005
Date of Issue: September 28, 2024

BACKGROUND INFORMATION
Football Association of Malawi (FAM) is a national association with perpetual succession formed with the objective of administering football in Malawi and is registered under the Malawi National Council of Sports Act (Cap 30:05 of the Laws of Malawi). FAM is mandated to organize, administer, develop and control the game of football in consistent with Fédération Internationale de Football Association (FIFA) rules and regulations in a manner that will continuously improve the standard of football in the country and enhance the competitiveness of Malawi football while at the same time providing wholesome entertainment to Malawians.

The Football Association of Malawi would like to engage a reputable audit firm to carry-out the statutory audit of the Association for the financial year ending December 31, 2024.

The contract will be renewable for a three-year period.

AUDIT OBJECTIVE
The objective of the Associations audit is to obtain reasonable assurance that the financial statements reflect a true and fair view of its financial position. The audit will be performed in accordance with International Financial Reporting Standards (“IFRS”) and International Standards of Auditing (“ISA”). The audit report will include an Independent Auditors Report (Opinion) on the financial statements. The audit will also include such other schedules or analyses as Association has determined are necessary in order to ensure that various projects resources are being properly managed. The auditors shall assess the Association’s compliance with the provisions of applicable laws and regulations. The findings
and recommendations shall include an action plan for the Associations accounting improvements depending on findings
and its implications and shall accommodate management comments.

ELIGIBILITY CRITERIA

Eligible Audit firm should have or meet the following criteria:

  1. Should have traceable physical and mailing address.
  2. Business registration certificate/Business License
  3. Copy of Supplier’s valid MRA Tax Clearance Certificate
  4. Registration with the Office of the Public Procurement and Disposal of Assets Authority
  5. Experience of the audit firm with audit reporting under International Financial Reporting standards(IFRS) and International Standards on Auditing (ISA)
  6. References for similar audits performed within the last three years (From 2021 and above) and at least written references of endorsement from three key/ reputable organizations
  7. Provide Audit Methodology, Proposed Work-plan with clear timelines.
  8. Business profile comprising Curriculum Vitae for the partner, manager and key staff proposed for the audit team. Should indicate staffing plan.
  9. Audit firm and staff must be independent from the Associations dealings and that must be affirmed.
  10. Any actual or potential conflict of interest in taking up this role should be highlighted.

AUDIT FEES

The firm must indicate the audit fees together with any other payment terms applicable.

DELIVERABLES

The key deliverables will be:

  • Set of Audited Financial Statements indicating if accounting standards have been applied and whether they reflect a true and fair view of the financial position of the Association.
  • Management Letter where matters that are not material to the financial statements, but which the auditors wish to communicate to the Association may be reflected for management action.
  • All audit reports and accompanying statements of financial position shall be presented in English.

CONDITIONS

  1. FAM RESERVES the right to verify the authenticity of any information of an applicant submitted without consulting the applicants
  2. Hand delivery submissions will not be allowed, and late delivery will be rejected.
  3. Successful applicants shall be communicated in writing.

ELECTRONIC SUBMISSION AND CLARIFICATION

The proposal should be submitted electronically to ipc@fam.mw. The email proposal subject line should clearly read, “EOI: EXTERNAL AUDITOR – FAM.” The layout of the proposal should follow the ten eligibility criteria in that order and end with Audit fees in one document. (Eleven sections)

Closing date for submission: 14th October 2024

Further information and clarification can be obtained in writing from: admin@fam.mw copying procurement@fam.mw or on phone number +265 995 873 225.

DISCLAIMER

The call for EOI shall not be construed as a commitment on the point of the Football Association of Malawi to appoint any of the Expressions, nor shall it entitle any interest.

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