KOBLA QUASHIE AND ASSOCIATES TO AUDIT ETA

MBABANE- Kobla Quashie and Associates has been enlisted as the best evaluated tenderer to provide external audit services for Eswatini Tourism Authority (ETA).

This was revealed by the Eswatini Public Procurement Regulatory Agency (ESPPRA) in their website. The intention to award the company was published on Thursday and they are expected to begin executing it after a period of 10 working days. According to the regulatory agency, ETA was looking for a contractor to audit their services. Kobla Quashie and Associates is expected to provide many assurances and non-assurance services for ETA.  The services include an audit of financial statements, International Financial Reporting Standards (IFRS) reporting, review of financial statements, compiling financial statements, internal audit service, advisory service, risks assurance, as well as corporate secretary. They are also expected to provide the ETA board of directors with valuable information in regards to the company’s financial condition.

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Kobla Quashie and Associates will to also assist ETA board members spot potential internal oversights or unethical behaviours. The initial proposed contract price of the tender was E261 027. Worth noting, in the past three weeks, small construction companies, which are based in the country have acquired over 20 tenders, which were afore granted to big companies. This is in line with the provision and procurement of tenders in the public procurement regulations, which states that local companies will be granted preferences in the evaluation of tenders in public procurement.  

Kobla Quashie and Associates was competing with SNG Grant Thornton and Corporate Business Solutions for the tender. The total evaluated score for the other two companies were revealed in the tender document and it was indicated that SNG Grant Thornton had  received the lowest evaluation score. They lost the evaluation with a scored below 80 per cent, as it stood at 77.71 per cent, occupying third place. Corporate Business Solutions were second, in terms of evaluation despite having the lowest bid price, thus making SNG Grant Thornton a favourable company for the tender. ETA was the procuring entity for the tender which was approved by the authority of the board.  ESPPRA requested the unsuccessful bidder to submit an application for review with the agency within 10 working days. “All tenderers who submitted bids are hereby notified that a period of 10 working days is hereby allowed for submission of any application for review”, said ESPPRA. The agency also mentioned that the tender does not constitute a contract.    

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