KOBLA QUASHIE TO AUDIT VUVULANE TOWN BOARD

MBABANE- Kobla Quashie and Associates has been enlisted as the best evaluated tenderer to provide external audit services for Vuvulane Town Board (VTB).

This was revealed by the Eswatini Public Procurement Regulatory Agency (ESPPRA) in their website. The intention to award the company was published on Friday and they are expected to begin executing it after a period of 10 working days. According to the regulatory agency, VTB was looking for contractor to audit their services. Kobla Quashie and Associates is expected to provide many assurances and non-assurance services for VTB. 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 services, Risks assurance, as well as corporate secretary.

Condition

They are also expected to provide VTB board of Directors with valuable information in regard to the company’s financial condition. Kobla Quashie and Associates would also assist VTB board members spot potential internal oversight or unethical behaviour. The initial proposed contract price of the tender was E261 027. Worth noting, in the past three weeks, small constructions 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 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 received the lowest evaluation score. SNG Grant Thornton lost evaluation scored below 70 per cent as it stood at 65.61 per cent, occupying second place.

Approved

VTB 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 with 10 working days. “All tenderers who submitted bids are hereby notified that a period of 10 working days is hereby allowed to 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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