Due Diligence Audit Services NEW

The South African National Petroleum Company (SANPC) has issued a Request for Proposal (Reference SANPC/2026/016) to appoint one or more service providers to conduct due diligence audit services on an as-and-when-required basis for a period of 36 months. The appointed providers will assess recommended companies and identify risks associated with doing business with them, giving the approving authority assurance on whether to proceed with an award. SANPC intends to appoint more than one service provider.

Due diligence work is required in support of procurement processes (including review of tender documents and assessment of shortlisted and awarded suppliers), trading transactions and counterparties, supplier registration and onboarding, and Corporate Social Investment projects and beneficiaries. The audit scope includes security clearance (including National Key Points Act considerations, conflict of interest and politically exposed person disclosure, and National Treasury database checks for restricted suppliers and tender defaulters); legal status and B-BBEE compliance verification, including ultimate beneficial ownership traced to natural persons; financial ability and creditworthiness, including three years of audited financial statements and tax compliance; the company's capacity to deliver the required goods or services, with physical verification of facilities where applicable; and sanctions screening, regulatory violations, and reputational aspects. For trading counterparties, the scope extends to enhanced checks on licences, product provenance, banking verification, financial-crime screening, and a counterparty risk rating with a recommended credit limit.

Deliverables include a report within five days of instruction on each company, with notice of any delays within two days. Providers may also be asked to train SANPC personnel through joint audits and to review tender evaluations for consistent application of criteria. Reporting goes to the Demand and Acquisitions Manager. Bidders must meet three mandatory bid elimination criteria: submission of at least three similar engagements with client references from the last five years; a qualified Senior Auditor with CV and proof of certification (SA QC, CIA, or RA status); and a copy of a full due diligence report from the last five years, with confidential information redacted. Failure to meet all three results in disqualification. Standard SANPC terms and conditions apply, including confidentiality, data protection, insurance, and a South African governing law clause.

This opportunity offers a multi-year, recurring relationship with a major state-owned energy company and is well suited to firms with a strong track record in forensic, financial, and compliance-based due diligence in the energy or commodities sector.