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INVITATION FOR EXPRESSION OF INTEREST (EOI)
PROVISION OF EXTERNAL FINANCIAL AUDIT SERVICES FOR YEAR ENDING MARCH, 2025
PROCUREMENT REFERENCE NO: CMST/CS/024/001372
Date of Issue: 5th December, 2024
1. INTRODUCTION
Central Medical Stores Trust has budgeted financial resources towards the cost of implementing various programs and it intends to apply part of the funds for payments under the Contract for Consultancy Services to undertake External Financial Audit Services – Procurement Ref. No: CMST/CS/024/001372.
2. INVITATION
The Chairperson, Internal Procurement and Disposal of Assets Committee, Central Medical Stores Trust, now invites sealed Expression of Interests from eligible and qualified consulting firms for the Consultant to undertake External Financial Audit Services.
The successful consultant will be contracted on annual basis, renewable for a maximum of three years subject to satisfactory performance in the preceding year.
3. OBJECTIVE OF THE ASSIGNMENT
The objective of the Audit is to enable the auditors express an independent professional opinion on the Financial Statements of Central Medical Stores Trust and ensuring that the funds have been used for intended purposes for the year ending 31st March, 2025 subject to renewal to carry out the audit services for the year ending 31st March 2026 and 31st March 2027 depending on the satisfactory performance in the preceding year.
4. SCOPE OF THE AUDIT
The External Financial Audit will cover 100% transactions implemented by the Central Medical Stores Trust. Central Medical Stores Trust units covered by the audit are Headquarters and three Regional Medicals Stores – Blantyre in the Southern Region, Lilongwe in Central Region and Mzuzu in the Northern Region.
5. EVALUATION OF EXPRESSIONS OF INTEREST (EOI)
Interested internationally recognized financial audit firms should have the following:
- A team of financial audit experts with hands-on experience in financial auditing assignments in the Sub-Saharan region. The team leader should possess a minimum qualification of a Bachelor’s Degree in Finance or related disciplines and should be a full member of ACCA or CIMA or ICAM or member of other equivalent professional bodies. The team leader should also have at least ten (10) years’ experience in auditing public funds and donor funded projects/programs.
- The consultant should be a firm with a good track record in auditing public funds and donor funded projects/programs and should have a combination of international and local financial audit experts with experience in developing countries such as Malawi.
- Proposed key financial experts should have a minimum of a Bachelor’s Degree plus membership with ACCA or CIMA or ICAM or other equivalent international professional bodies, with at least 7 years’ experience in auditing public funds and donor funded projects.
- Valid registration with relevant professional associations or bodies i.e. ICAM is a must.
- The firm must be accredited by the National Audit Office.
6. EVALUATION OF SUBMITTED EXPRESSIONS OF INTEREST (EOI)
Central Medical Stores Trust will evaluate the expression of interest on a pass or fail basis and up to six (6) qualified consultancy firms shall be shortlisted to submit both technical and financial proposals.
A consultancy firm will be selected in accordance with the procedures set out in the Public Procurement and Disposal Act 2017 and Public Procurement Regulations 2020.
8. CALL FOR EXPRESSIONS OF INTEREST (EOI)
Central Medical Stores Trust now invites expressions of Interest (Eol) from eligible Financial Audit Consultancy Firms to undertake annual financial audits for year 31st March 2025. The CMST will sign a contract for the first year i.e. for the year ended 31st March 2025 with the successful consultancy firm which will be reviewed at the end of the assignment. Contract extensions to the second and third years will be subject to satisfactory performance in the preceding year.
9. SUBMISSION OF EXPRESSIONS OF INTEREST
Interested firms are therefore advised to submit their expressions of interest by 19th December 2024 at 14:00 hours local Malawian time. The EOl should be deposited in the Tender Box located at the Reception, Ground Floor at Central Medical Stores Trust Headquarters, Mzimba Drive, and Opposite Kamuzu College of Nursing in Lilongwe, Malawi in sealed envelopes addressed as below.
Chairperson
Internal Procurement and Disposal of Assets Committee (IPDC)
Central Medical Stores Trust
Private Bag 55
LILOGWE MALAWI
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