BY BUSINESS EDITOR
MBABANE – SNG Grant Thornton has been enlisted as the best evaluated tenderer to provide external audit services for Eswatini Electricity Company (EEC).
This was revealed by the Eswatini Public Procurement Regulatory Agency (ESPPRA) on their website. The intention to award the tender to EEC was published on Tuesday and they are expected to begin executing it after a period of 10 working days, should they not be contested.
According to the regulatory agency, EEC was looking for a contractor to audit their services externally. SNG Grant Thornton is expected to provide many assurances and non-assurance services for EEC.
The services may include an audit of financial statements, International Financial Reporting Standards (IFRS) reporting, review of financial statements, compiling financial statements, internal audit services, advisory services, risks assurance, as well as corporate secretary.
They are also expected to provide ECC Board of Directors with valuable information in regard to the company’s financial condition. SNG Grant Thornton will also help EEC Board members spot potential internal oversight or unethical behaviour.
The initial proposed contract price of the tender was E3,601,800. Worth noting, in the past three weeks, small construction companies which are based in the country have acquired over 10 tenders, which were afore granted to big companies.
This is in line with the provision and procurement of tenders in the Public Procurement Regulations which states that local companies will be granted preference in the evaluation of tenders in public procurement.
SNG Grant Thornton was competing with Price Waterhouse Coppers (PWC) for the tender. The total evaluation score for the two companies were revealed in the tender document, it was indicated that Price Waterhouse Coppers (PWC) was second ranked.
