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Invitation for Proposals to Conduct a Training Programme on
International Standards on Auditing
We are re-opening the submission for the proposal on “International Standards on Auditing” Training, as we have not received enough proposals for the advertisement of this Authority’s no (IUL)220-AS/1/2017/99, dated on 05 November 2017.
The Maldives Inland Revenue Authority (MIRA), in its effort to build an efficient team of auditors who are proficient and well versed with the relevant professional standards, wishes to conduct a training program on International Standards on Auditing (“ISA”).
MIRA invites interested parties to submit proposals to conduct a training program on “ISA” in Malé.
The programme should cover, but need not be limited to, the following:
|
1.1 |
ISA 200 |
Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing |
|
1.2 |
ISA 210 |
Agreeing the Terms of Audit Engagements |
|
1.3 |
ISA 220 |
Quality Control for an Audit of Financial Statements |
|
1.4 |
ISA 230 |
Audit Documentation |
|
1.5 |
ISA 240 |
The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements |
|
1.6 |
ISA 250 |
Consideration of Laws and Regulations in an Audit of Financial Statements |
|
1.7 |
ISA 260 |
Communication with Those Charged with Governance |
|
1.8 |
ISA 265 |
Communicating Deficiencies in Internal Control to Those Charged with Governance and Management |
|
1.9 |
ISA 300 |
Planning an Audit of Financial Statements |
|
1.10 |
ISA 315 |
Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment |
|
1.11 |
ISA 320 |
Materiality in Planning and Performing an Audit |
|
1.12 |
ISA 330 |
The Auditor's Responses to Assessed Risks |
|
1.13 |
ISA 402 |
Audit Considerations Relating to an Entity Using a Service Organization |
|
1.14 |
ISA 450 |
Evaluation of Misstatements Identified during the Audit |
|
1.15 |
ISA 500 |
Audit Evidence |
|
1.16 |
ISA 501 |
Audit Evidence-Specific Considerations for Selected Items |
|
1.17 |
ISA 505 |
External Confirmations |
|
1.18 |
ISA 510 |
Initial Audit Engagements-Opening Balances |
|
1.19 |
ISA 520 |
Analytical Procedures |
|
1.20 |
ISA 530 |
Audit Sampling |
|
1.21 |
ISA 540 |
Auditing Accounting Estimates Including Fair Value Accounting Estimates and Related Disclosures. |
|
1.22 |
ISA 550 |
Related Parties |
|
1.23 |
ISA 560 |
Subsequent Events |
|
1.24 |
ISA 570 |
Going Concern |
|
1.25 |
ISA 580 |
Written Representations |
|
1.26 |
ISA 600 |
Special Considerations-Audits of Group Financial Statements (Including the Work of Component Auditors) |
|
1.27 |
ISA 610 |
Using the Work of Internal Auditors |
|
1.28 |
ISA 620 |
Using the Work of an Auditor's Expert |
|
1.29 |
ISA 700 |
Forming an Opinion and Reporting on Financial Statements |
|
1.30 |
ISA 705 |
Modifications to the Opinion in the Independent Auditor's Report |
|
1.31 |
ISA 706 |
Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report |
|
1.32 |
ISA 710 |
Comparative Information - Corresponding Figures and Comparative Financial Statements |
|
1.33 |
ISA 720 |
The Auditor's Responsibilities Relating to Other Information in Documents Containing Audited Financial Statements |
1. ISRE 2400 (Engagements to Review Financial Statements) and its practical application.
2. ISAE 3000 (Assurance Engagements Other Than Audits or Reviews of Historical Financial Information) and its practical application.
3. ISRS 4400 (Engagements to Perform Agreed-Upon Procedures Regarding Financial Information) and its practical application.
4. Brief overview of proposed changes to existing ISA’s and proposed new standards.
5. IFRS 9 – Financial Instruments, effective on 1st Jan 2018
6. IFRS 15 – Revenue from Contracts with Customers, effective on 1st Jan 2018
7. IFRS 16 – Leases, effective on 1st Jan 2019
I. Target Audience
The program is targeted to train 50-60 staff. Most of the participants are ACCA trainees and some are ACCA Affiliates and Members.
II. Duration
The program shall be designed to be delivered within 10 days and is expected to start on February 2018. Classes will be held from 03 to 13 February 2018 as follows.
- Sunday to Thursday: 13:30 to 18:00
- Saturday: 09:30 – 17:15 (Lunch break from 12:00 to 13:00)
III. Responsibilities of the Resource Person
The resource person shall:
1. Develop course materials, including handouts, reading material, exercises and case studies that fully cover the areas outlined above.
2. Deliver the course materials (Soft and hard copy) to MIRA 7 days prior to the commencement of the program.
3. Deliver the training sessions. (Training sessions shall be designed in such a way that the practical application component shall constitute at least 75% of the time allocated for each standard.)
4. Interact with participants during the training sessions to encourage participation and provide guidance on questions that are raised.
IV. Qualifications and Experiences of the Resource Person
The resource person shall:
1. Have recognized academic or professional accounting qualifications.
2. Have experience in a senior post which requires the application of, or consultancy work related to, IFRS. (Preference will be given to those with experience in tax-related posts.)
3. Have conducted similar training programs for other institutions.
V. Evaluation Criteria
1. Course content and design – 30%
2. Qualifications and experience of resource person – 30%
3. Fee – 40% (In the case of foreign resource persons, costs associated with travel, lodging and food shall be borne by the resource person and accounted for in the fee quoted.)
You may nominate more than one resource person to conduct the program, in which case you must specify the sessions which will be conducted by each person.
MIRA will facilitate the necessary printing requirements of the resource person and provide the training classroom, projectors and other programme-related administrative arrangements.
For further details or queries, please contact Ms. Aishath Nashfa at (+960) 3339593 from Sunday to Thursday between 08:30 and 16:30 hrs or email to [email protected].
All interested parties should submit proposals in person, in sealed envelopes marked “Proposal to Conduct a Training Programme on International Financial Reporting Standards” to the address below at 15:00 hrs on Wednesday, 22 November 2017. The proposal should include a detailed outline of the course content, methods of delivery (lectures, discussions, case studies, exercises, etc.), CVs of the resource persons and fee breakdown.
Maldives Inland Revenue Authority,
Ameenee Magu, (2nd Floor),
Male’ 20379,
Maldives