This tender invites bids for the development, customization, and implementation of an Expected Credit Loss (ECL) model in compliance with GRAP 104. The contract spans three years, focusing on enhancing financial reporting accuracy for municipalities.
The uMlalazi Municipality is seeking a qualified service provider to develop, customize, and implement an Expected Credit Loss (ECL) model in accordance with the revised GRAP 104 standards. This three-year contract aims to ensure that the municipality adheres to the latest financial reporting requirements, thereby improving transparency and accountability in its financial statements. The successful bidder will be responsible for integrating the ECL model with existing financial systems, particularly the PHOENIX financial system, to automate data inputs and reduce manual intervention.
The scope of work includes not only the development of the ECL model but also the annual maintenance and updates of the model, as well as ad-hoc consulting services related to the implementation of revised accounting policies and disclosures. The service provider will also be expected to provide technical training to municipal staff and assist in addressing any audit queries that may arise. This project presents an opportunity for firms with expertise in municipal finance and GRAP standards to contribute to the enhancement of local government financial management.
This tender is suitable for accounting firms, financial consultants, and service providers with experience in developing financial models, particularly those familiar with GRAP standards and municipal finance. Businesses must be registered with the South African Institute of Chartered Accountants (SAICA) and have a proven track record in similar projects.