BY BUSINESS EDITOR
MBABANE – SNG Grant Thornton has been enlisted as the best-evaluated tenderer to provide external audit services for Sincephetelo MVA Fund tender.
This was revealed by the Eswatini Public Procurement Regulatory Agency (ESPPRA) on their website. The tender was awarded to the company on Friday and they are expected to begin executing it after a period of 10 working days.
According to the regulatory agency, MVA was looking for a contractor to audit their services. SNG Grant Thornton is expected to provide many assurances and non-assurance services for MVA.
The services 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 MVA Board of Directors with valuable information in regard to the company’s financial condition. SNG Grant Thornton will also help MVA Board members spot potential internal oversight or unethical behaviour.
The initial proposed contract price of the tender was E2,487,982.11.
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 Cooper (PWC) for the tender.
The total evaluation score for the two companies was not revealed in the tender document, but it was indicated that Price Waterhouse Cooper (PWC) was 2nd best.
