Seeking a qualified service provider to update the Generally Recognised Accounting Practice (GRAP) Asset Register for a period of 36 months. The project includes physical verification of assets, reconciliation with the General Ledger, and compliance with GRAP standards.
The Dr Kenneth Kaunda District Municipality is inviting bids for the appointment of a service provider to update its Generally Recognised Accounting Practice (GRAP) Asset Register over a 36-month period. This project is crucial for maintaining accurate financial records and improving audit outcomes as mandated by the Municipal Finance Management Act. The successful bidder will be responsible for conducting physical verifications of all assets, ensuring their existence, condition, and proper accounting in compliance with GRAP standards. Additionally, the provider will reconcile the asset register with the General Ledger and assist in preparing the necessary financial statements for the upcoming financial years.
Key deliverables include the creation of a GRAP-compliant Asset Register for the financial years 2026/27, 2027/28, and 2028/29, along with detailed reconciliation notes for Property, Plant, and Equipment (PPE). The service provider must demonstrate compatibility with the municipality's existing SAGE financial system, ensuring seamless integration and data exchange. The project aims to enhance the municipality's asset management processes, thereby supporting better financial decision-making and compliance with regulatory requirements.
This tender is suitable for accounting firms, asset management companies, and consulting firms with experience in municipal finance and GRAP compliance. Businesses that specialize in SAGE integration and have a proven track record in asset verification and management will find this opportunity particularly relevant.