Mogale City Local Municipality seeks a service provider to assist with the implementation of amended GRAP 104 requirements over three years, focusing on financial instruments and compliance with new accounting standards.
The tender invites qualified service providers to support Mogale City Local Municipality in implementing the amended GRAP 104 requirements, which involve significant changes in the classification, measurement, and disclosure of financial instruments. The successful bidder will be responsible for developing and customizing an Expected Credit Loss (ECL) model, training municipal staff, and ensuring compliance with all relevant accounting standards. Key tasks include assessing current financial management processes, developing GRAP 104-compliant solutions, and providing ongoing support and consulting services throughout the contract duration.
This project aims to enhance the municipality's financial reporting reliability, reduce audit risks, and support clean audit outcomes. The scope includes the integration of financial systems, documentation of assumptions for audit purposes, and the provision of training on GRAP 104 requirements. The service provider will also be required to prepare or review financial statement disclosures and assist with any audit queries related to the implementation of the revised standards. This is an excellent opportunity for firms with expertise in municipal finance and accounting compliance.
This tender is suitable for accounting firms, financial consultants, and service providers with expertise in municipal finance, particularly those experienced in GRAP standards and financial instruments compliance.