Maldives
REQUEST FOR EXPRESSIONS OF INTEREST
Consultancy Services – Selection of Project Financing Auditing Firm
Country: Republic of Maldives
Project: Support People's Livelihoods in the Fishery Sector in Maldives through Sustainable Energy
Consulting Service: Project Financial Auditing (Package S-02)
Mode of Financing: Installment Sale and Grant
Financing No: MDV1012
The Republic of Maldives has received financing from the Islamic Development Bank toward the cost of the Support People's Livelihoods in the Fishery Sector in Maldives through Sustainable Energy Project, and intends to apply part of the proceeds for consultant services.The services include to carry out audit of the project in accordance with the International Standards on Auditing (ISA) issued by the International Federation of Accountants (IFAC), having regard to relevant financing agreements and IsDB’s particular reporting and procurement requirements. The audit covers the financial transactions of the project during the period from December 2022 to January 2026. It is expected that total 10.5 person-months estimate experts inputs will be required for this assignment. It is expected that the assignment to commence in May 2023.
The detailed Terms of Reference (TOR) for the assignment can be found at the following website: www.trade.gov.mv
The Ministry of Economic Development now invites eligible consulting firms (“Consultants”) to indicate their interest in providing the services. Interested Consultants must provide specific information which demonstrates that they are fully qualified to perform the services (brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc.).
Shortlisting criteria:
i. The Firm must have minimum of Three (3) Years of experience working in the field of external audit with at least one assignment for a Donor Funded Project. (Provide documentary evidence of such assignments and experience)
ii. Must be a Firm (Audit Firm) Registered in the Maldives (Provide copy of the Certificate of Registration)
iii. The Firm must have a valid “Practicing Certificate” issued by the Institute of Chartered Accountants of the Maldives. (Provide copy of the Certificate).
iv. Technical and managerial capability of the firm which shall be based on total number of technical and managerial staff (permanent) of the firm (Key Experts will not be evaluated at the shortlisting stage).
v. Firms shall declare a complete history of litigation and arbitration in which the organizations/firms have been involved in the last 3 (three) years. Firms with litigation and/or arbitration in the last three years shall be rejected.
vi. Firms shall state the size of the firm, the size of its audit staff, the location of the office where this engagement is to be performed, and the number and nature of the professional staff to be employed in this engagement on a full- and part-time basis.
The attention of interested Consultants is drawn to Paragraphs, 1.23, and 1.24 of the Guidelines for Procurement of Consultant Services under Islamic Development Bank Project Financing (the “Procurement Guidelines”), setting forth IsDB’s policy on conflict of interest. Consultant may associate with other firms to enhance their qualifications but should indicate clearly whether the association is in the form of a joint venture and/or a sub-consultancy. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if selected.
A consultant will be selected in accordance with the Least Cost Selection (LCS) method set out in the Procurement Guidelines.
Interested consultants may obtain further information at the address below during office hours 08:00 to 16:00 hours (local time). Expressions of interest must be delivered in written form to the address below (in person, mail, or by fax or by e-mail) no later than 1400 hrs on 18th April 2023.
Niushad Saeed, Project Director
Ministry of Economic Development
Ministry of Economic Development,
11th Floor, Velaanaage, Ameer Ahmed Magu, Malé City, Maldives
Telephone: +960 332-3668
Email: [email protected]
Website: www.trade.gov.mv
