Tender – External Audit Services
- TBC Kredit
-
Elanın qoyulma tarixi: 04.05.2017Vakansiyaya müraciət tarixi bitmişdir.
İşin təsviri
This is an Invitation to Tender – External Audit Services
TBC Kredit has decided to review its external audit arrangements for the year ending 31 December 2017. This letter is to invite you to put forward a proposal for the work outlined below.
About TBC Kredit
TBC Kredit is a non-banking credit institution operating in Azerbaijan market since 1999.
TBCK operates as a for-profit commercial finance company, which provides business, real estate and consumer loans. While the Company must comply with all legislation governing its activities, and must protect itself as much as possible from adverse changes in the Azerbaijani lending environment, the core value of TBCK is respect for its clients. This value manifests itself through the Company's emphasis on professionalism, customer service, rapid answers to the loan applications, and above all, honesty.
TBC Kredit’s HQ is located at 28 May Street, 71/77, Baku, Azerbaijan.
The shareholders of TBC Kredit are TBC Bank (Georgia) and Enclude Ltd (USA).
For further information on the organization’s structure please refer to the organization’s website: www.tbckredit.az
Copies of recent financial statements and reports can also be found on the organization’s website: http://tbckredit.az/index.php?lang=3&ind=main&id=122
Scope of Services Required
The external audit services will include, but will not be limited to:
• planning, management and execution of annual external audit of TBC Kredit in accordance with International Financial Reporting Standards
• provide an audit opinion on the financials i.e. balance sheet, profit and loss, cash flow statements and notes
• reporting on external audit progress to management
• provision of an assessment as to whether TBC Kredit’s financial statements have been properly prepared in accordance with International Financial Reporting Standards
Period of Appointment
The initial appointment will be for one year; the audit will be retendered for periodically.
Timings
TBC Kredit has a 31st December year-end. The pre-year end audit work has previously been conducted in November/ early December with the year end audit work taking place and being finalized in January for the statements prepared for the purposes of consolidation with the parent company, TBC Bank, where different approach should be taken in terms of the significance.
For the stand-alone statements the year end audit work is taking place in February-March aiming to finalize the financial statements in early April.
Tender Process
Each company will be required to submit a written proposal setting out your capabilities, the key elements of your service and team as well as your proposed fee by May 26 2017.
Please contact Chingiz Abdullayev [email protected] (0502867996) or Ayten Baghirova [email protected] (0503375147) if you have any questions or wish to arrange a meeting.
After the proposals have been received, a shortlist of companies will be identified who will be asked to make a presentation to Senior Management including a question and answer session.
Proposal requirements and criteria on which a decision will be made:
1) Details of your company
• information regarding relevant sector experience and experience of clients comparable to TBC Kredit in organizational status and size;
• explanation of the external audit approach
2) Understanding of TBC Kredit and NBCO’s
• demonstrate a clear understanding of the nature of TBC Kredit’s business and the structure of the organization;
• demonstrate an understanding of the key financial risks that TBC Kredit currently faces.
3) Resourcing
• names of your core service team and relevant experience;
• information on how involved the partners will be on the engagement;
• your firm’s policy on the rotation of the service team;
• time key team members will commit to this appointment;
4) Independence and governance
• details of your internal practices to ensure compliance with independence requirements and freedom from conflicts of interest;
5) Fees
• competitive fee quote to complete the year end audit of the financial statements for 2017
• the basis on which fees will be determined in future years;
• general overview of the schedule and timings of billings.
The proposal documents should be sent in PDF format to Chingiz Abdullayev [email protected] (0502867996) or Ayten Baghirova [email protected] (0503375147)
The deadline for receipt of the proposal is May 26 2017
We would be grateful if you will confirm your willingness to participate in the selection process and your ability to meet the stated deadline by May 15 2017 by email to Chingiz Abdullayev [email protected] (0502867996) or Ayten Baghirova [email protected] (0503375147).
For further information or clarification, please contact Chingiz Abdullayev or Ayten Baghirova
Confidentiality
By accepting this invitation to take part in the tender process, you agree to keep in confidence all information provided to you, whether written or oral, in relation to the tender process and/or in relation to TBC Kredit’s business generally which is not already in the public domain, to use it only for the purposes of this tender and for no other reason and not to disclose any of the said information to any third party.
You will bear any costs and expenses incurred by you in relation to this tender and the said information shall be kept confidential unless it lawfully becomes public knowledge.
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