REQUEST FOR EXPRESSION OF INTEREST (REOI) FOR THE PROVISION OF COMPLIANCE/ TECHNICAL AUDIT CONSULTANCY SERVICE IN FAVOR OF THE NATIONAL ROAD FUND OFFICE OF LIBERIA.
Date: June 24, 2024
RFP No.: NRF/SBA/CQS/002/2024
Assignment Title: Request for Expression of Interest (REOI) for the Provision of Compliance/Technical Audit Consultancy Service in favor of the National Road Fund of Liberia.
BACKGROUND OF THE PROCURING ENTITY:
The Government of the Republic of Liberia through the National Road Fund has received funds for the implementation of many activities for this Fiscal Year 2024. It intends to apply a portion of the funds from its approved 2024 budget for the Procurement of Compliance/Technical Audit Consultancy Service in favor of the National Road Fund of Liberia for fiscal year 2023.
The National Road Fund of Liberia was established by an act of the National Legislature in 2016 and published on January 26, 2017, for the purpose of financing road and bridge maintenance works and its directly associated planning, programming, and maintenance activities in Liberia. The primary source of revenue generation for the NRF is fuel levy collection on petroleum products imported. To enhance transparency, and accountability and to strengthen its control environment, the National Road Fund invites tenders from reputable consulting firms to provide external audit services for its financial year 2023.
The Road Network in Liberia is greatly underdeveloped therefore, a high-standard national road network remains our priority to help promote economic development regional integration, and social cohesion.
The objectives of the National Road Fund are;
- To ensure that road assets are sustained and that sufficient funds for both periodic and routine maintenance are allocated for this purpose.
- To ensure that each of the categories of national, sub-national, and feeder roads have a sufficient share of the total budget such that these roads can operate as an integrated network.
- To defray the costs of loans approved by the Government to extend the length of maintainable roads.
- To ensure that the needs of the road users and those impacted by roads are considered in terms of safety, security, and environment.
OBJECTIVE OF THE ASSIGNMENT
This audit is a Risk Base Audit which includes but is not limited to:
- Audit on the Financial
- Human Resources
- Compliance Audit
- Performance Audit
- Audits on predetermined objectives (Performance Information)
The objective of this procurement is to confirm the accuracy of the financial reports, the costs that have been incurred within the established budgetary provisions are properly classified and can be traced to the NRF ledgers. The recruited firm will conduct a Compliance / Technical Audit to determine the existence and adequacy of financial controls necessary to preserve the integrity of all accounting information, including its accuracy, completeness, and validity. The firm will evaluate the adequacy and effectiveness of the organization’s systems of internal control and make recommendations for improvement to the management.
SCOPE OF SERVICES
General Responsibilities:
1. SCOPE OF SERVICES
- The successful bidder will be required to perform the following types of external audits (only list the applicable items):
- Risk-based audits (this includes, but is not limited to, audits on the Financial, Human Resources);
- Compliance audits;
- Performance audits;
- Audits on predetermined objectives (performance information);
- The scope of external audit work entails testing and evaluating the adequacy and effectiveness of the organization’s systems of internal control and to make recommendations
- Review the effectiveness and efficiency of the financial and human resource management process.
- Appraising the effectiveness and efficiency with which resources are employed and identifying opportunities to improve operating performance.
- Review the reliability and integrity of financial and operating information and the means used to identify measure, classify and report such information.
- Review the systems established by management to ensure compliance with those policies, laws, regulations, and controls that could have a significant impact on operations and determine whether the organization is in compliance with its financial, administrative, and property management procedures and other relevant legislation that governs the organization.
- Ensure that the organization adheres to the corporate governance requirements as
prescribed in the organization’s internal rules and regulations.
- Reviewing operations or programs to ascertain whether the results are consistent with established objectives or goals and whether the operations or programs are being carried out as planned.
- Execution of audit assignments will be as follows:
- Assignments are to be performed in accordance with the International Standards for the Professional Practice of External Auditing (Standards).
- The execution of each assignment shall be in accordance with the instructions the bidder will get from the client.
- In carrying out the work, the successful bidder must ensure its staff maintains their objectivity by remaining independent of the activities they audit.
Contract Review;
- All contracts are in alignment with the bill of quantity (BoQ) and interim- performance certificate of completion.
- Contracts are reviewed. approved and authorized by the delegation of authorities.
- Specifications and all other requirements are written within a contract.
- Work percentage of completion and contract value are written within a contract.
Operating and Control Environment
- Selected payments have the signatures of the delegation of authorities i.e. (MPW all signatures and NRF all signatures).
- Request cashbooks for the period under review and review selected of payments
- All payment requests from the Ministry of Public Works have all of the required documents and are properly approved. authorized and attached.
- All payment requests from the NRI have all of the required documents properly approved. authorized and attached.
- All payment requests have MPW and NRF Internal Audit Advisory Memos attached.
- All payments have supporting documents such as valid last clearance. valid business registrations. bank guarantees too where applicable
- All payment vouchers are signed, approved, and dated.
- Bank reconciliations are properly done accordingly and all signatures and dates are affixed to the bank reconciliation statements.
- Bank reconciliations are for the period under review.
- Petty cash requests are all authorized and approved by the delegation of authorities.
- Petty cash supporting documents are attached and properly filed.
- Petty cash reports are properly prepared and the delegations of authorities are approved and dated.
- Request and review procurement plan.
- Ensure that the procurement plan is signed and approved.
- Ensure that all documents are for suppliers. contractors and employees are adequately prepared and filed.
- All files are properly labeled and orderly arranged.
- Review fixed asset registers and ensure that assets are properly recorded.
- Ensure that assets are properly coded.
- Ensure that recommendations from the GAC audits are adhered to accordingly.
- Ensure that withdrawal applications are properly authorized and approved by the delegation of authorities.
- Ensure that withdrawal applications are properly dated and renumbered before submission for approval.
- General ledger report from Sage 300 is reconciled with the cashbooks.
Human Resources Management
- Review all personnel files to ensure the completion of documents: Such as (Cover letters. academic records and others).
- Determine whether interviews were conducted for all positions.
- Determine that jobs were advertised.
- Determine that there is job description for all persons recruited.
- Determine that every person completed his/her probationary period.
- Determine that every person has proper identification.
- Determine that every person has a personnel file. that is all occupied with their supporting documents.
- Determine that appraisal was conducted for every personnel.
- Determine that all personnel meet the employment criteria for NRF Payroll
- Determine that the name of every personnel is properly recorded in the payroll.
- Determine that the salary for every personnel is properly recorded as per his/her employment contract.
- Determine all deductions such as withholding taxes. social security and others are properly recorded and payments are made to the requisite authorities.
- Determine that annual leaves are properly authorized and approved.
Legal Framework
- All standard operating procedures are prepared. approved and authorized by the IMSC.
- Copies of SOPs are accessible on the entity website.
- Minutes for all IMSC meetings are recorded and achieved.
- ARMEP from inception is approved by the IMSC and achieved.
QUALIFICATIONS & EXPERIENCE
The key professional staff required must have the following minimum qualifications:
- The firm must have at least 6 years of experience in executing similar activities.
- At least one of the senior managers of the Firm must be a CPA.
- The firm must have a track record of performing similar works both in the public and private sector in the last three (3) years.
REPORTING AND TIME SCHEDULES
- Report directly to the Manager based on your time and schedule provided.
- Work must be completed within one month.
Duty Station:
The consulting firm team shall be stationed at the office of the National Road Fund of Liberia in Monrovia located between 9th and 10th streets Sinkor, Payne Avenue, B134, Beach side.
DURATION:
- Services will be provided in the period of one (1) month based upon the time scheduled provided.
EXPRESSION OF INTEREST
Interested firms must submit the following;
- Letter of Expression of Interest signed and stamped by authorized personnel
- Both technical and financial proposals and packages must be hand delivered to the Procurement Director.
- A brief Company Profile, legal and qualification documentation (Current Business Registration, Articles of incorporation, Valid Tax Clearance and PPCC Vendor Registry.
- Updated and signed bios of the following proposed key personnel for implementation of the Compliance/Technical Audit Consultancy Service in favor of the National Road Fund of Liberia.
- Proof of a CPA License.
- Contact details
- Statement of suitability and relevant experience in the field
- Capacity to deliver the service
- Bank Statement for the last six months
- Detail outline of an illustrative implementation framework for the delivery of the project objective.
All of the above eligible bidders may obtain further information from the Procurement Unit Monday to Friday during office hours from Tuesday June 25, 2024 10:00am to 4:00pm business days.
Following acceptance of the selected firm, the procuring Entity will negotiate a finalized scope of work, agreed contract cost and conditions of contract. The Consultant will be engaged on a contract for service basis.
Only shortlisted firms will be contacted. All interested firms must submit their Expression of Interest no later than on or before Tuesday July 23, 2024 at 10:00am. All Requests for Expression of Interest must be sealed and delivered to the Procurement Unit.
All expression of interest must be sealed and delivered to the above address on or before the closing date indicated in the above paragraph. Absolutely, all late Request for Expression of Interest will be rejected and returned unopened. Electronic bids will not be permitted.
Request for Expression of Interest will be opened on the same day of closing in the Conference Room of the National Road Fund of Liberia at 11:00am, in the presence of bidders’ representatives who will choose to attend. All requests for expression of interest must be accompanied by a Bid Security of 10% of the firm’s total cost.
Approved
Hon. Joseta Neufville-Wento
Chief Executive Officer
National Road Fund of Liberia
Procurement Unit
National Road Fund of Liberia
Between 9th & 10th Streets, Payne Avenue, Building #134
Email address: vjohnson@nrf.gov.lr
Contact number: 0776-330-319