This tender seeks a service provider to validate IFRS 9 impairment tools within a VBA-driven Excel model. The project duration is five months, focusing on ensuring accuracy and compliance with financial reporting standards.
The Industrial Development Corporation of South Africa is inviting proposals for the comprehensive validation of its IFRS 9 impairment tools, which are currently housed in a VBA-driven Excel model. This validation is crucial for maintaining the integrity of expected credit loss calculations and ensuring compliance with IFRS 9 standards. The selected service provider will assess the model's structural integrity, formula logic, and alignment with documented methodologies, while also reviewing the VBA code for technical robustness and implementation fidelity.
The scope of work includes evaluating the consistency of staging logic, validating the completeness and control environment integrity, and recommending improvements to model architecture and governance protocols. The service provider will also perform a historical review of IFRS 9 outputs and cross-check macroeconomic overlays used in ECL calculations. A detailed report with findings and recommendations will be required at the end of the validation process, ensuring that the IDC's financial reporting is accurate and defensible.
This tender is suitable for consulting firms specializing in financial services, particularly those with expertise in IFRS compliance, risk management, and data validation within Excel environments. Businesses with experience in validating financial models and a strong understanding of credit risk assessment methodologies are encouraged to apply.