Eskom seeks an independent accounting firm to assess its hedge accounting practices, ensuring compliance with IAS 39 and alignment with international best practices. This review will provide assurance to Eskom's Board and stakeholders.
Eskom is inviting proposals from independent accounting firms to conduct a comprehensive review of its Treasury's hedge accounting practices. The primary objective of this review is to ensure that Eskom's hedge accounting is compliant with International Accounting Standard 39 (IAS 39) and aligns with the company's hedging policies and strategies. The selected firm will be responsible for evaluating the effectiveness of current practices and identifying areas for improvement, thereby enhancing the overall governance and financial reporting of Eskom's treasury activities.
The scope of work includes a thorough assessment of existing hedge accounting methodologies, documentation processes, and risk management strategies. The firm will also be tasked with providing detailed recommendations for aligning Eskom's practices with international best practices. This review is crucial for providing assurance to Eskom's Board and stakeholders regarding the integrity and reliability of the hedge accounting practices, ultimately contributing to better financial decision-making and risk management within the organization. The successful firm will play a vital role in enhancing transparency and accountability in Eskom's financial operations.
This tender is suitable for independent accounting firms with expertise in hedge accounting, financial compliance, and risk management. Firms should have a strong understanding of IAS 39 and experience in providing assurance services to large organizations, particularly in the energy sector.
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