Limited-assurance internal audit review of tcta interim financial statements for the six months ended 30 september 2026

Issue date: 6 November 2026.

Clarification questions deadline: 11 November 2026 at 13:00.

Closing date and time: 13 November 2026 at 11:00.

Inception meeting: 25 November 2026.

Final report and indexed working-paper file due: 29 November 2026.

Lender submission deadline (fixed by loan covenants): 30 November 2026.

Bid validity period: 30 days from the closing date.

Enquiries email: [email protected]

Submission email: [email protected]

Contact person: none named in the document

Telephone: none stated in the document

Division: Internal Audit, Trans-Caledon Tunnel Authority

Submission method: email proposals to [email protected].

Closing: 13 November 2026 at 11:00. Late bids are not accepted.

Bid validity: 30 days from the closing date.

Returnable forms — all must be completed, signed and submitted with the bid:

• SBD 1 (Invitation to Bid): bidder and contact details, signed as the offer cover page.
• SBD 4 (Bidder's Disclosure): declares state employment, relationships and interests; a false disclosure disqualifies the bid.
• SBD 6.1 (Preference Points Claim Form): claims B-BBEE specific-goal points under the 80/20 system.
• Letter of authority or board resolution for the authorised representative.
• Form A or signed client reference letters evidencing company experience.
• Completed pricing schedule Tables 1 and 2 with a firm fixed fee.
• Four CVs with qualifications for the Project Leader, Senior Manager or Manager, and two Core Team Members.
• Signed resource-availability confirmation.
• CSD registration report.
• Valid B-BBEE certificate or sworn affidavit.

Bidders who fail to submit any mandatory requirement will not be considered for further evaluation.

Functionality is scored out of 100 points.

Minimum qualifying score: 60/100. Bidders scoring below 60 are disqualified at this stage.

Functionality criteria:

• Firm Relevant Experience: 25 points. Three compliant assignments = 10 points; four = 15 points; five or more = 20 points. Additional 5 points where at least two assignments involved a Schedule 2 or 3 PFMA public entity and a complete GRAP financial-statement set.
• Methodology and Technical Approach: 20 points. Five elements scored at 4 points each.
• Project Leader Capability: 15 points. Fifteen or more years = 15 points; 13 to 14 years = 13 points; 11 to 12 years = 11 points; 10 years = 10 points; below 10 years = 0 points.
• Manager and Senior Manager Team Capability: 15 points. Five years = 5 points; 6 to 7 years = 7 points; 8 years or more = 9 points.
• Core Team Members (two): combined score capped at 6 points. Combined experience of 6 to less than 8 years = 3 points; 8 to less than 10 years = 4 points; 10 years or more = 6 points. Zero if either member fails the minimum experience or qualification.
• Workplan, Availability and Resource Allocation: 15 points. Three elements scored at 5 points each.
• Quality Assurance and Reporting: 10 points. Independent quality review by a named reviewer = 4 points; findings protocol = 3 points; indexed working-paper file = 3 points.

Preference points: 80/20 system. Price = 80 points; Specific Goals (B-BBEE) = 20 points. Total = 100.

Procurement: limited-assurance internal audit review of TCTA Interim Financial Statements for the six-month period ended 30 September 2026.

Standard: performed under the IIA Global Internal Audit Standards and TCTA Internal Audit methodology.

Nature of assurance: limited assurance only; not an external audit, no audit opinion, not an ISRE 2400 or ISRE 2410 review conclusion, report for TCTA internal use only and may not be relied on by lenders or third parties.

Reporting line: service provider reports to the Chief Internal Auditor.

Scope includes:

• review the complete draft IFS, notes and accounting policies for GRAP presentation and disclosure compliance and approved TCTA accounting policies;
• agree comparative figures to the audited prior-year annual financial statements and disclose the basis for comparatives;
• agree IFS amounts to management-approved lead and supporting schedules;
• verify mathematical accuracy and casting of the IFS and disclosure notes;
• review accuracy and consistency of cross-referencing;
• technically review disclosure of new GRAP standards, interpretations and directives;
• high-level review of whether prior-year AGSA presentation and disclosure findings have been addressed;
• record errors and issues in an issue log and communicate to management;
• review the updated IFS to confirm discrepancies are addressed.

Excluded:

• preparation or ownership of the IFS, accounting policies, journals, reconciliations or schedules;
• substantive testing of transactions or detailed testing of account balances;
• valuations, actuarial calculations, tax computations or legal opinions;
• fraud investigation or forensic procedures;
• statutory external audit, audit opinion or third-party assurance;
• direct communication with lenders, AGSA or governance committees without written authorisation from the Chief Internal Auditor.

Fieldwork window: 25 to 29 November 2026. Final reporting by 29 November 2026.

Engagement approach: structured planning, execution and reporting stages under the IIA Global Internal Audit Standards and TCTA Internal Audit procedures.

Workplan must cover 25 to 29 November 2026, showing activities, intermediate milestones and final reporting by 29 November 2026.

Proposal must state assumptions on TCTA dependencies and evidence-response times aligned to section 1.2 cut-offs.

Bidders must confirm availability from 25 November 2026 through final reporting on 29 November 2026, including any weekend work required.

The workplan must explicitly address weekend work and Finance availability needed to meet the final-report deadline.

Detailed daily sequencing and intermediate cut-offs are agreed with the successful bidder at inception.

Company experience: at least three completed public-sector GRAP financial-statement review or audit assignments performed within the five years preceding the RFQ closing date. Compilation-only experience does not qualify.

Evidence: either a fully completed and signed Form A, or signed client reference letters on client letterhead with contactable details, scope of work and delivery period. Both are not required for the same project. TCTA may verify evidence.

Personnel (four CVs only):

• Project Leader: ten or more years' relevant experience, at least five years leading public-sector GRAP financial-statement review or audit, current CA(SA) registration with SAICA.
• Senior Manager or Manager: five years' review or audit experience of GRAP financial statements; Honours degree NQF Level 8 in Accounting or Auditing.
• Core Team Members (two): three years' review or audit experience each; Bachelor's degree NQF Level 7 in Accounting or Auditing.

CVs must detail relevant periods, entities and roles, with certified copies of degrees and proof of CA(SA) registration.

Quality assurance is scored out of 10 points under functionality.

• Independent quality review by a named reviewer not involved in day-to-day fieldwork, with review points stated: 4 points.
• Findings protocol covering the issue log, management responses and exit meeting: 3 points.
• Indexed working-paper file with evidence cross-references and final file handover: 3 points.

The final report and indexed electronic working-paper file must carry quality-assurance sign-off in a format approved by the Chief Internal Auditor.

Deliverables are subject to validation, quality review and final reporting by 29 November 2026.

Firm fixed fee for the complete assignment, inclusive of all professional fees, quality review, administration, travel, accommodation, data, printing and incidental expenses.

No disbursement may be charged separately.

Payment follows written acceptance of each substantive milestone.

Table 1 milestones:

• 15%: planning memorandum accepted on the agreed date before fieldwork, within the 25 to 29 November 2026 review period.
• 45%: fieldwork completed; draft findings and corrected-IFS validation schedule accepted.
• 20%: draft internal audit report accepted and exit meeting held.
• 20%: final report and indexed working-paper handover accepted by 29 November 2026.

Table 2: resource and rate disclosure (not scored). Hours and hourly rates are disclosed for reasonableness and change control only. The Table 2 total excluding VAT must equal the Table 1 fixed-fee sub-total. Disclosed hourly rates apply only to scope changes approved in writing under the applicable delegation.

Price is evaluated on the total bid price including VAT for VAT-registered bidders, and on the total price for bidders that are not VAT-registered. Prices must remain valid for the 30-day bid validity period and must be firm and unconditional.

Pricing format: firm fixed fee for the complete assignment, inclusive of all professional fees, quality review, administration, travel, accommodation, data, printing and incidental expenses.

No disbursement may be charged separately.

Payment follows written acceptance of each substantive milestone.

The inception meeting, information-request register and daily issue log do not trigger separate payment.

Price evaluation: total bid price including VAT for VAT-registered bidders; total price for bidders that are not VAT-registered.

Price must be firm and unconditional and remain valid for the 30-day bid validity period.

Table 1 payment milestones:

• 15%: planning memorandum accepted on the agreed date before fieldwork, within the 25 to 29 November 2026 review period;
• 45%: fieldwork completed and draft findings and corrected-IFS validation schedule accepted;
• 20%: draft internal audit report accepted and exit meeting held;
• 20%: final report and indexed working-paper handover accepted by 29 November 2026.

Table 2: resource and rate disclosure is not scored; the total must equal the Table 1 fixed-fee sub-total; disclosed hourly rates apply only to scope changes approved in writing.

CSD registration: CSD registration report required; a CSD number must be provided where no SARS TCS PIN is available.

Tax compliance: SARS tax compliance status PIN or printed TCS certificate required.

B-BBEE: valid B-BBEE certificate from a SANAS-accredited verification agency, or a sworn affidavit for EME and QSE; consolidated B-BBEE for joint venture tenderers. Sworn affidavits must meet the Annexure A validity requirements. A certificate from a withdrawn verification agency is invalid. No minimum B-BBEE level is set; non-compliant bidders score 0 for specific goals but are not disqualified.

Company experience: at least three completed public-sector GRAP financial-statement review or audit assignments within the five years preceding the closing date; evidence by Form A or signed client reference letters on client letterhead. Compilation-only experience does not qualify.

Personnel:

• Project Leader: ten or more years' relevant experience, at least five years leading public-sector GRAP financial-statement review or audit, current CA(SA) registration with SAICA.
• Senior Manager or Manager: five years' review or audit experience of GRAP financial statements; Honours degree NQF Level 8 in Accounting or Auditing.
• Core Team Members (two): three years' review or audit experience each; Bachelor's degree NQF Level 7 in Accounting or Auditing.

Only four CVs are required: Project Leader, Senior Manager or Manager, and two Core Team Members.

Standard forms: SBD 1, SBD 4 and SBD 6.1 must be fully completed and signed, together with a letter of authority or board resolution for the authorised representative.

CIDB: not applicable (professional services, not construction).

Preference point system: 80/20. Price = 80 points; Specific Goals = 20 points; total = 100 points.

B-BBEE specific-goal points:

• Level 1: 20 points
• Level 2: 18 points
• Level 3: 14 points
• Level 4: 12 points
• Level 5: 8 points
• Level 6: 6 points
• Level 7: 4 points
• Level 8: 2 points
• Non-compliant contributor: 0 points

Bidders must submit valid certified copies of B-BBEE certificates or sworn affidavits to claim points. Failure to submit proof means no points are claimed; it does not disqualify the bid.

Sworn affidavits must comply with Annexure A. Certificates issued by withdrawn verification agencies are invalid and score 0.

Minimum functionality threshold: 60 out of 100 points to proceed to price and specific-goals evaluation.