Awarded Tender: Fasset internal audit services tender, gauteng

Tender source analysis

What the tender required and what the award supports

Source material and existing AI analysis appear first. Supplier conclusions remain qualified by the evidence Tenders-SA holds.

Summary

Fasset is procuring an independent service provider to deliver internal audit services for a period from 1 september 2026 (or contract commencement date) to 31 march 2030. The contract is open to bidders who can meet the compulsory briefing session and strict submission deadline, with NO late submissions accepted. Bidders must be registered on the central supplier database and comply with b-bbee requirements.

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DocumentTender document Internal Audit - CON3599 final.pdfReview complete

Description

Award analysis coverage

0 of 3 source documents fully reviewed. Unstated details are identified only after complete source review.

technical scope

26 sourced criteria

financial capacity

24 sourced criteria

pricing

3 sourced criteria

compliance returnables

16 sourced criteria

evaluation

23 sourced criteria

experience

10 sourced criteria

personnel

4 sourced criteria

equipment capacity

1 sourced criteria

delivery contract

9 sourced criteria

equity registrations

8 sourced criteria

What the buyer was looking for

1Mandatory requirement

Tender reference number FAS/NG/ARC/INTERNAL AUDIT SERVICES/CON3599/26 must be included in all correspondence.

Why it matters: The source identifies this as a mandatory or eligibility condition for a compliant bid.

No source document identifier is stored for this item.

Source: AI key requirements · requirements

Known supplier evidence

Tenders-SA records other appointments with overlapping scope terms for RAKOMA AND ASSOCIATES.

Qualified inference

Supported inference

An award confirms appointment. It does not prove why a supplier was selected, that every qualification remains current, or that delivery was completed successfully.

FASSET was established on 1 April 2000 in accordance with the Skills Development Act. Its mandate is to contribute to the effective operation of the labour market through skills development. Section 51(1)(a)(ii) of the PFMA requires the Accounting Authority to ensure the entity has a system of internal audit under the control of an audit committee. The objective is to appoint a suitable, independent service provider to provide internal audit services to FASSET for a period commencing on 1 September 2026 or the contract commencement date, whichever occurs first, and ending on 31 March 2030.

The Internal Audit function assists FASSET in achieving its objectives by providing a systematic, disciplined, and risk-based approach to evaluating and improving governance, risk management, and internal control processes. It supports the Audit and Risk Committee, Accounting Authority, and management through independent analysis, evaluations, recommendations, advice, and relevant information. Objectives include providing assurance on reliability of financial and operational information, effectiveness and efficiency of operations, economical use of resources, safeguarding of assets, achievement of strategic objectives, compliance with legislation, and adequacy of information systems and technology controls.

The Internal Audit function reports functionally to the Audit and Risk Committee and administratively to the CEO. The ARC approves the Internal Audit Charter, the risk-based internal audit plan, and oversees independence, quality, and performance of the service provider.

The scope of internal audit services includes providing independent and objective assurance and advisory services to enhance organisational value. Duties are performed in accordance with the Global Internal Audit Standards (2024/2025), the approved Internal Audit Charter, and applicable legislation including the PFMA. Internal Audit maintains independence and has full access to information, systems, records, and personnel.

Mandatory core services include: risk-based planning (rolling three-year strategic plan and annual plan); execution of internal audit engagements covering financial and operational reporting, compliance, safeguarding of assets, and performance; information systems and IT assurance; communication and reporting to management and ARC; follow-up on audit actions; Audit and Risk Committee support; combined assurance coordination; and maintaining ethics, independence, and quality including a QAIP.

Value-added services subject to ARC approval include advisory or consulting engagements, special reviews or ad hoc assignments, use of data analytics and CAATs, support for Combined Assurance Model maturity, and advisory services on emerging risks including AI, Microsoft Copilot, and ICT governance. Exclusions: Internal Audit shall not perform operational or management functions, design or implement controls, make management decisions, or assume risk ownership.

Fraud and irregularities: Internal Audit shall identify significant weaknesses in internal controls that may result in fraud or irregularities. Suspected or detected fraud must be reported immediately to the CEO and/or ARC, and not disclosed to other employees except as required for investigation or corrective action.

Audit assignments shall be performed in accordance with the Global Internal Audit Standards and King V on Corporate Governance. Audit documentation shall be retained and made available to FASSET after contract expiry or termination. The service provider must maintain a QAIP and be subject to an External Quality Assurance Review at least once every five years.

Competence requirements: The service provider must be independent, possess necessary skills and resources, demonstrate conformance with Global Internal Audit Standards, maintain quality governance, and ensure the Lead Engagement Partner holds an appropriate professional qualification (e.g., CIA, CA(SA), CISA, CFE). Team members must collectively possess necessary qualifications and experience. The provider must have a minimum of five years' experience in public sector internal audit (other than SETA) and five years' experience in the SETA environment.

Evaluation Criteria

Source: Tender document Internal Audit - CON3599 final.pdf (TENDER)

Functionality evaluation: minimum threshold of 70 out of 100 points must be achieved to qualify for further evaluation on the 80/20 preference points system.

Criteria and weights:

Overall Experience (40 points): Company Experience in public sector internal audit (15), Reference Letters in public sector (5), Company Experience in SETA (15), Reference Letters in SETA (5).
Project Plan and Methodology (10 points).
Resources and allocation (40 points): Resource Plan, Capacity and Financial Sustainability (10 points), Expertise and Capability of Staff (30 points).
Quality Assurance and Improvement Programme (10 points).

Scoring for company experience in public sector: more than 15 years = 5 points, 12-15 years = 4, 10-12 years = 3, 8-10 years = 2, 5-8 years = 1, failure to substantiate = 0.

Reference letters must be on official letterhead, relate to completed contracts within the last 10 years, describe services and contract period, provide contactable reference person, and be from different institutions. Scoring: 5 or more letters = 5 points, 4 = 4, 3 = 3, 2 = 2, 1 = 1, none = 0.

Scoring for company experience in SETA: more than 15 years = 5 points, 12-15 = 4, 10-12 = 3, 8-10 = 2, 5-8 = 1, failure to substantiate = 0. SETA reference letters must meet same requirements and be from different SETAs.

Project Plan and Methodology: 5 points for addressing all five requirements (methodology, project plan, quality assurance, reporting arrangements, progress monitoring), 4 for four, 3 for three, 2 for two, 1 for one, 0 for none or failure to submit.

Resource Plan, Capacity and Financial Sustainability: 5 points for addressing all four sub-sections (resource plan and team structure, approach to resourcing, tools/methodologies/systems, financial sustainability), 3 for three, 2 for two, 1 for one, 0 for none or failure to substantiate.

Expertise and Capability of Staff: score each of six positions (Engagement Partner/Director, Senior Audit Manager, Internal Audit Manager, IT Specialist, Senior Internal Auditor, Internal Auditor) out of 5 points based on meeting minimum requirements and years of experience. For Internal Auditor position, score based on least experienced proposed auditor.

QAIP: 5 points for documented QAIP aligned to Global Internal Audit Standards, internal quality reviews, monitoring and corrective actions, and readiness for external reviews; 3 for partial arrangements; 1 for minimal or ad hoc controls; 0 for failure to substantiate.

Pricing and preferential point system (80/20): 80 points for price, 20 for specific goals: Black People Ownership (100% = 5, 51% = 3, less than 51% = 0), Black Woman Ownership (100-50% = 5, 49% and less = 0), Black Youth Ownership (100-50% = 5, 49% and less = 0), People with Disability Ownership (1 or more = 5, none = 0).

Technical Specifications

Source: Tender document Internal Audit - CON3599 final.pdf (TENDER)

Objective: appoint a suitable, independent service provider to provide internal audit services to FASSET for a period commencing on 1 September 2026 or the contract commencement date, whichever occurs first, and ending on 31 March 2030.

Role: Provide independent assurance and advisory services to support the Audit and Risk Committee (ARC), Accounting Authority, and management. The function reports functionally to the ARC and administratively to the CEO.

Mandatory core services:

Risk-based planning: prepare a rolling three-year strategic internal audit plan and a detailed annual plan for ARC approval.
Execution of internal audit engagements: assurance over governance, risk management, controls, financial and operational reporting, compliance, safeguarding of assets, and performance.
Information systems and IT assurance: audits of IT governance, application, and IT general controls, including the cyber environment.
Communication and reporting: report findings to management, obtain responses, submit final reports to the ARC, escalate significant matters promptly.
Follow-up on audit actions: perform follow-up procedures and report progress and overdue actions to the ARC.
ARC support: attend ARC meetings, provide updates, and provide an annual overall conclusion on the audited control environment.
Combined assurance coordination: coordinate with external auditors and other assurance providers.
Ethics, independence, and quality: maintain a Quality Assurance and Improvement Programme (QAIP).

Value-added services (subject to ARC approval): advisory or consulting engagements, special reviews or ad hoc assignments, data analytics and CAATs, support for Combined Assurance Model maturity, and advisory on emerging risks including AI, Microsoft Copilot, and ICT governance.

Exclusions: Internal Audit shall not perform operational or management functions, design or implement controls, make management decisions, or assume risk ownership.

Fraud and irregularities: significant weaknesses in internal controls that may result in fraud or irregularities must be reported immediately to the CEO and/or ARC. Suspected or detected fraud must not be disclosed to other employees except as required for investigation or corrective action.

Competence requirements: The service provider must be independent, possess necessary skills and resources, demonstrate conformance with Global Internal Audit Standards, and ensure the Lead Engagement Partner holds an appropriate professional qualification (e.g., CIA, CA(SA), CISA, CFE). The provider must have a minimum of five years' experience in public sector internal audit (other than SETA) and five years' experience in the SETA environment.

Experience & Qualifications

Source: Tender document Internal Audit - CON3599 final.pdf

Expertise and Capability of Staff: The bidder must demonstrate the expertise and experience of the proposed project team. CVs of key personnel must be submitted, together with certified copies of relevant qualifications and proof of registration with recognised professional bodies, where applicable.

Scoring: Score each of six positions out of 5 points based on meeting minimum requirements and years of experience. For the Internal Auditor position, the score is based on the least experienced proposed auditor.

Positions and minimum requirements:

Engagement Partner/Director: relevant qualification at minimum NQF Level 8, membership of a recognised professional body (e.g., IIA SA, SAICA, SAIPA) with proof of registration, experience in internal audit or related assurance services within the public sector including SETA, and a detailed CV.
Senior Audit Manager: relevant qualification at minimum NQF Level 8, membership of a recognised professional body with proof of registration, experience in internal audit or related assurance services within the public sector including SETA, and a detailed CV.
Internal Audit Manager: relevant qualification at minimum NQF Level 7, membership of a recognised professional body with proof of registration, experience in internal audit or related assurance services within the public sector, and a detailed CV.
IT Specialist: relevant professional accreditation (e.g., CISA or equivalent) with proof of registration/certification, experience in IT audit or related assurance services, and a detailed CV.
Senior Internal Auditor: relevant qualification (minimum NQF Level 6/7 or IAT/PIA designation) with certified copy, experience in internal audit or related assurance services, and a detailed CV.
Internal Auditor: relevant qualification at minimum NQF Level 6 for all proposed internal auditors, experience in internal audit or related assurance services, and detailed CVs for all proposed internal auditors.

Experience bands: For each position, points are awarded according to years of relevant experience, with higher points for more years. If any minimum requirement is not met or no evidence is submitted, the position scores 0 points.

Contractual Terms

Source: Tender document Internal Audit - CON3599 final.pdf

Contract duration: Commencing on 1 September 2026 or the contract commencement date, whichever occurs first, and ending on 31 March 2030. Performance will be monitored against the SLA. FASSET may terminate the contract with written notice if performance is unsatisfactory.

Terms of engagement: The successful bidder shall not take more than one month from contract date to render services unless agreed. All data and information gained must be kept confidential. FASSET may require written permission before replacing proposed individuals. Documentation will be exchanged using Microsoft Office products. Reports and presentations may be required for Accounting Authority consideration. Fraudulent attempts to gain information or influence evaluation will result in disqualification. FASSET reserves the right not to appoint or award.

Conditions of tender: Proposals must include relevant information about the bidder, describe methodology, be comprehensive, and adhere to GCC and any Special Conditions. The person completing the bid must have requisite authority. No alteration to the contract is permitted unless agreed in writing. Misrepresentation of facts results in disqualification and cancellation.

Acceptance of submissions: No submission is accepted until a formal award letter is executed. Submissions remain open for 120 days from the returnable date. Extensions may be granted with notice. FASSET does not bind itself to accept the lowest or any bid and is not responsible for costs incurred by bidders. No change in bid amount after submission. FASSET may request amplification of unclear matters; failure to respond may lead to rejection.

Bid documents: The document in its entirety serves as the complete bid document. Proposals offering only part of the requirements will be rejected. Bidders must examine all instructions, forms, terms, and specifications. Failure to comply is at bidder's risk. Descriptive material may be included as annexes. The successful bidder's proposal may be incorporated into the final contract. Proprietary information should be marked.

Period of validity: Proposals shall remain valid for 120 days after submission. Shorter validity may be rejected. Extensions may be solicited in writing. Format and signing: Two envelope submissions (Functionality and Financial) signed by authorised person. No interlineations, erasures, or overwriting except corrections initialled.

Performance-based agreement: This is a performance-based agreement running from award to completion. Payment: The successful service provider shall be paid in line with the accepted and approved Financial Proposal (part of SLA) and satisfactory work. Due diligence: FASSET reserves the right to exercise due diligence on submitted tenders. Compliance with all relevant legislation is required.

Section

Source: Tender document Internal Audit - CON3599 final.pdf

Functionality evaluation: The minimum threshold score of 70 out of 100 must be achieved to qualify for further evaluation on the 80/20 preference points system. Criteria and weights: Overall Experience (40 points) - Company Experience in public sector internal audit (15 points), Reference Letters in public sector (5 points), Company Experience in SETA (15 points), Reference Letters in SETA (5 points); Project Plan and Methodology (10 points); Resources and allocation (40 points) - Resource Plan, Capacity and Financial Sustainability (10 points), Expertise and Capability of Staff (30 points); Quality Assurance and Improvement Programme (10 points).

Scoring for company experience in public sector internal audit: more than 15 years = 5 points, 12-15 years = 4, 10-12 years = 3, 8-10 years = 2, 5-8 years = 1, failure to substantiate = 0. Reference letters must be on official letterhead, relate to completed contracts within last 10 years, describe services and contract period, provide contactable reference person, and be from different institutions. Scoring: 5 or more letters = 5 points, 4 = 4, 3 = 3, 2 = 2, 1 = 1, none = 0.

Scoring for company experience in SETA environment: more than 15 years = 5 points, 12-15 = 4, 10-12 = 3, 8-10 = 2, 5-8 = 1, failure to substantiate = 0. Reference letters for SETA must meet same requirements as public sector letters and be from different SETAs. Scoring: 5 or more = 5, 4 = 4, 3 = 3, 2 = 2, 1 = 1, none = 0.

Project Plan and Methodology scoring: 5 points for addressing all five requirements (methodology, project plan, quality assurance, reporting arrangements, progress monitoring), 4 for four requirements, 3 for three, 2 for two, 1 for one, 0 for none or failure to submit.

Resource Plan, Capacity and Financial Sustainability scoring: 5 points for addressing all four sub-sections (resource plan and team structure, approach to resourcing, tools/methodologies/systems, financial sustainability), 3 for three, 2 for two, 1 for one, 0 for none or failure to substantiate.

Expertise and Capability of Staff scoring: Score each of six positions (Engagement Partner/Director, Senior Audit Manager, Internal Audit Manager, IT Specialist, Senior Internal Auditor, Internal Auditor) out of 5 points based on meeting minimum requirements and years of experience. For Internal Auditor position, score based on least experienced proposed auditor.

QAIP scoring: 5 points for documented QAIP aligned to Global Internal Audit Standards, internal quality reviews, monitoring and corrective actions, and readiness for external reviews; 3 for partial arrangements; 1 for minimal or ad hoc controls; 0 for failure to substantiate.

Pricing and preferential point system (80/20): Bidders achieving minimum 70% on functionality are evaluated on price and specific goals. 80 points for price, 20 for specific goals: Black People Ownership (100% = 5, 51% = 3, less than 51% = 0), Black Women Ownership (100-50% = 5, 49% and less = 0), Black Youth Ownership (100-50% = 5, 49% and less = 0), People with Disability Ownership (1 or more = 5, none = 0).

Summary of compliance and elimination reasons: Bidders must submit one Functionality and one Financial Proposal, otherwise disqualified. Bidders or directors/shareholders on the National Treasury Restricted List will be disqualified. Additional elimination criteria include failure to initial all pages, non-compliance with B-BBEE requirements, and missing VAT registration where applicable.

DocumentAnnexure A Financial Proposal Internal Audit TORs - v3 (1).docxReview complete

Description

Source: Annexure A Financial Proposal Internal Audit TORs - v3 (1).docx

FASSET seeks to appoint an independent service provider to deliver internal audit services for a period from 1 September 2026 (or contract commencement date) to 31 March 2030.

Important Dates