Capital Markets Authority (CMA) External Audit Services Request for Expression of Interest

Capital Markets Authority (CMA)

Request for Expression of Interest 

External Audit Services
 

Tender No. CMA/EOI/04/2012- 2013

The Capital Markets Authority (CMA) is a statutory agency charged with the prime responsibility of regulating the development of orderly, fair and efficient capital markets in Kenya.

It licenses and supervises market intermediaries, approves primary and secondary issues and transactions, conducts on-site and off-site market surveillance, enforces compliance, and promotes market integrity and investor confidence.

Following the authorization of the Auditor General pursuant to section 39 of the Public Audit Act, CMA intends to procure the services of a qualified and experienced professional external auditor to offer external audit services for the financial years ending 30 June 2013 and 30 June 2014.
 

The objective of the audit is to:
 

a) Enable the auditor to express a professional opinion on the financial statements of the Authority on whether the statements present fairly the financial position at the end of each financial year and were prepared in accordance with accounting principles, standards and all relevant laws and regulations.
 

a) To confirm that the books of account provide the basis for preparation of the financial statements and that they are established to reflect the financial statements and that the Authority maintains adequate internal controls and supporting documentation for its transactions.
 

The Authority invites eligible audit firms to forward their Expression of Interest (EOI) to provide the required services.

Interested firms must provide detailed information indicating their qualification to provide the services, with clear proof of similar assignments provided and confirmation of available qualified human capital to handle the assignment.
 

The audit firm: The audit firm must be registered and its partners must have practicing certificates issued by the Institute of Certified Public Accountants of Kenya (ICPAK). 

The firm should have relevant experience in auditing of organizations and state corporations comparable to CMA, and have at least three (3) full time partners, not less than 30 (thirty) employees and been in existence for not less than 10 (ten) years.
 

The assignment team should comprise of the following:

a) An Engagement Partner with over 12(twelve) years auditing experience.

b) A Manager with over 8 (eight) years’ experience in Auditing

c) A Team Leader with at least 6 (six) years of experience in Auditing; and

d) Sufficient Audit assistants with adequate experience & professional qualifications
 

The above in (a) (b) and (c) will have demonstrable experience in audit of financial services or relevant industry.
 

Mandatory requirements:
 

The following documents must be provided by interested applicants.
 

a) Certificate of incorporation / registration of business
 

b) Copies of professional certification and current practicing certificates issued by ICPAK
 

c) Detailed profile of at least three organizations where similar assignments have been undertaken, in the last 5 years with the contacts for the key persons in the selected organizations.
 

d) Copies of the PIN and VAT certificates
 

e) Copy of the current Tax Compliance Certificate from KRA.
 

Shortlisted firms will be issued with a Request for Proposal (RFP) document with specific terms of reference. A short list of four (4) firms after RFP evaluation will be submitted to The Auditor General for final appointment.
 

Interested firms are welcome to obtain further information from the address below during office hours, 8.00 am to 5.00 pm from Monday to Friday. 

The EOI documents (1 original and 3 copies) must be deposited in the Tender Box located on 3rd Floor, Embankment Plaza, Longonot Road Upper Hill Nairobi, on or before Friday 8th February 2013 at 11.00AM in a sealed envelope clearly marked Ref No. CMA/EOI/04/2012-2013.

The bids will be opened on Friday 8th February 2013 at 11.15 AM at CMA’s conference room 4th Floor Embankment Plaza, Longonot Road Upper Hill. 

The EOIs will be opened in the presence of representatives or their agents who may choose to witness.
 

The Chief Executive
Capital Markets Authority
3rd Floor Embankment Plaza, Longonot Road Upper Hill
P. O. Box 74800-00100

Nairobi, Kenya
 

Tel:+254-20-2264258/900

Fax:+254- 20-342825
www.cma.or.ke