Project ID: P168577
Project Title: Financial Inclusion and Entrepreneurship Scaling Project
Borrower Bid Reference: MW-RBM-259367-CS-CQS
RESERVE BANK OF MALAWI
REQUEST FOR EXPRESSIONS OF INTEREST
(CONSULTING SERVICES – FIRMS SELECTION)
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COUNTRY
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: MALAWI
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NAME OF PROJECT
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: FINANCIAL INCLUSION AND ENTREPRENEURSHIP
SCALING PROJECT( FInES)
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CREDIT NO.
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: 6746-MW
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ASSIGNMENT TITLE
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: PROVISION OF EXTERNAL AUDIT SERVICES
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REFERENCE NO.
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: MW-RBM-259367-CS-CQS
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ISSUE DATE
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: 23RD NOVEMBER, 2021
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The Reserve Bank of Malawi has received financing from the World Bank toward the cost of the Financial Inclusion and Entrepreneurship Scaling (FInES) Project. The Project aims at increasing access to financial services, promoting entrepreneurship and capabilities of Micro, Small and Medium Entrepreneurs (MSMEs) in Malawi including addressing Covid-19 implications through the Financial Inclusion and Entrepreneurship Scaling (FInES) Project and intends to apply part of the proceeds for consulting services.
The consulting services (“the Services”) include auditing of the project in accordance with the International Standards of Supreme Audit Institutions (ISSAIs), as issued by the INTOSAI. The audit of the project will be carried out in accordance with International Standards on Auditing (ISA) promulgated by the International Federation of Accountants (IFAC) and will include such tests and auditing procedures as the auditor will consider necessary under the circumstances.
The objective of the audit of the Project Financial Statements (PFSs) is to enable the auditor to express a professional opinion(s) on the financial position of the project at the end of each fiscal year, and on funds received and expenditures incurred for the 2021 accounting period from 1st January 2021 to 31st December 2021. It is expected that the consultancy would be undertaken within a period of three months with an estimated level of effort of at least two staff-months. The expected start date of the assignment is 07th February, 2022.
The detailed Terms of Reference (TOR) for the assignment can be obtained at the following link https://www.rbm.mw/MediaCenter/Adverts/
Financial Inclusion and Entrepreneurship Scaling (FInES) Project now invites eligible consulting 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. The shortlisting criteria are:
- Core business of the firm(s) and years in business including a valid Malawi Accountants Board practicing license issued under the Public Accountants and Auditors Act;
- Relevant similar experience, which should specifically include:
- A Practice Review within the last 3 years and must have at least a satisfactory rating for both the firm and the Engagement and Review Partners; and
- Relevant experience in accounting and auditing of development projects, especially donor-funded operations.
- Technical and Managerial capability of the firm (Provide only the structure of the organization, general qualifications, and number of key staff. Do not provide CV of the staff. Key Experts will not be evaluated at the shortlisting stage).
- Experience in similar working environment i.e. Sub-Saharan Africa
The attention of interested Consultants is drawn to Section III, paragraphs, 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” July 2016, Revised November 2017 and August 2018 (“Procurement Regulations”), setting forth the World Bank’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 in accordance with the Consultant’s Qualification based Selection method set out in the Procurement Regulations.
Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by fax, or by e-mail) by 10th December, 2021.
The Project Manager
FInES Project
Reserve Bank of Malawi
P. O. Box 30063
Capital City
Lilongwe 3
Phone: +265 (0) 1 770 600
E-Mail: [email protected] copy [email protected] and [email protected]
CONTACT INFORMATION
Organization/Department Reserve Bank of Malawi
Name Patrick Mhango
Address P. O. Box 30063Capital CityLilongwe 3
City
Province/State Malawi
Postal Code
Country Malawi
Phone 888381189
Email [email protected]
