Expression of Interest (EOI) for the Engagement of External Auditors for Transmission Company of Nigeria (TCN)
Transmission Company of Nigeria (TCN)
Public Notice
Expression of Interest (EOI) for the Engagement of External Auditors for TCN
Introduction
The Transmission Company of Nigeria (TCN) intends to engage the services of a Professional Audit firm to undertake the Statutory Audit of TCN. Since the unbundling of TCN from Power Holding Company of Nigeria (PHCN) in November 2005, its Accounts have not been audited.
Reputable firms of External Auditors with proven track record and experience to meet the above objective are hereby invited to submit an Expression of Interest (EOI) to undertake this task.
The requirement is for the undertaking of the External Audit exercise in accordance with NGAAP/IFRS as appropriate.
Scope of Services:
The scope of work shall include but not limited to:
Lot 1. – Convert Company prepared Financial Statements for Years Ended 2013 and 2014 to IFRS standards.
Lot 2. – Undertake Statutory Audit (Non-IFRS) for Period Ended 2012, covering 7 years 2012 inclusive.
– Undertake Audit of each of 2013 and 2014 Financial Statement according to IFRS Standards.
– Prepare Associated Management Letters in association with above Audit Reports.
- The existing Financial records and systems are primarily manual.
- The Financial function is decentralized. It comprises 44 Work Centres and Regional offices divided throughout the Federation.
Eligibility Criteria:
All Expressions of Interest for the service must be accompanied with the following:
- Evidence of Company Registration with Corporate Affairs Commission (CAC).
- Evidence of Current Tax Clearance certificate.
- Past three (3) years Financial Statements.
- Bank Reference.
- Evidence of Current Registration with Financial Reporting Council of Nigeria (FRC).
- Evidence of compliance with the Pensions Reform Act (PRA) 2004.
- Evidence of VAT registration Certificate and Remittances.
8. Evidence of Registration and Remittance of Training Contributions to ITF in compliance with Section 6(2) of the Industrial Training Fund (Amended) ACT
- Evidence of having successfully carried out at least two (2) similar Auditing assignments within the past five years and or details of on-going services.
- Evidence of Certification with International Financial Reporting Standards.
- When a company is in joint Venture, partnership or Consortium Agreement, the MOU must specify the role of each partner and clearly be defined in the JV agreement.
Important Information:
- This notice is not an invitation to Tender.
- TCN is not obligated to invite any company to submit proposal notwithstanding submission of EOI documents.
- Only responsive qualified companies will be invited to participate in the competitive tender.
- TCN reserves the right to verify any claim by companies.
- A Firm will be selected in accordance with the procedures set out in the Procurement Act 2007.
Submission of Expressions of Interest
All Expressions of Interest documents must be submitted in one hard copy and a soft copy sealed in an envelope and clearly marked “Expression of Interest for the Engagement of External Auditor for TCN”. (LOT X)
Addressed to:
General Manager (Procurement) TCN,
Room 122/230, Transmission Company of Nigeria Plc
Corp. Hqtrs., Plot 441 Zambezi Crescent, Maitama, Abuja.
Special Information
- Please note that the regulation does not allow the same firm conducting statutory audit and IFRS conversion for the same organization.
- Submission closes on Monday 1st September 2014 by 12.00 noon prompt.
- Submission will be opened on Tuesday 2nd September, 2014 by 11.00am at PHCN Auditorium, 2nd Floor PHCN Hqs.
- Company representatives are invited to witness the opening of submissions.
Enquiries
For all enquiries regarding the Expression of Interest, please contact the following e-mail: ianegedu@yahoo.com
Signed:
TCN Management
