Irregular, Fruitless & Wasteful Expenditure Review NEW

The Banking Sector Education and Training Authority (BANKSETA), a Schedule 3A public entity headquartered in Centurion, Gauteng, has issued a Request for Quotation (RFQ BS/2026/RFQ1818) for professional services to support its irregular, fruitless and wasteful (IFW) expenditure review processes. The appointment covers the full cycle from determination through to condonation, in line with National Treasury regulations and the PFMA Compliance and Reporting Framework. The successful service provider will serve for one year and will be required to take the role of Chairperson of BANKSETA's Loss Determination/Control Committee, which includes three other BANKSETA managers. Work is ad hoc and will be requested as and when possible cases are identified.

Key responsibilities include reviewing suspected IFW cases and determining whether they meet the statutory definitions and should be recognised; identifying the internal controls that were breached or ineffective and the persons or positions responsible; preparing determination reports for the CEO, the Board and relevant sub-committees; and recommending appropriate corrective actions and internal controls to prevent recurrence. The professional must also comply with the committee's Terms of Reference and ensure all reports meet National Treasury requirements.

Evaluation is based on a combination of price (80 points) and BANKSETA preference points (20 points). The appointed individual must hold at least a three-year degree or qualification in audit, internal auditing, accounting or Supply Chain Management, and be a member of a relevant South African professional body, with certified copies submitted. The individual must demonstrate at least three years' relevant experience in audit, SCM training, SCM consulting or managerial SCM work for public sector entities regulated by the PFMA or MFMA. The service provider must have at least two years of operating history, a minimum of three relevant public sector assignments in the past five years, at least three client references, and a signed reference letter. Suppliers must be registered on the National Treasury Central Supplier Database (CSD), submit a CSD Master Registration report, and complete SBD 4 and SBD 6.1 forms. Pricing must be provided as a daily rate inclusive of VAT, with VAT shown separately, on company letterhead, and the quotation must remain valid for 90 days. The RFQ closes on 16 November 2026 at 11:00 and must be submitted electronically to Jacks@bankseta.org.za with a copy to SCM@bankseta.org.za.