Grap 2 – cash flow statements and revised grap 104 training

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The proposed facilitator must meet the mandatory requirements: a minimum of five years' relevant experience as a financial reporting/accounting training facilitator; demonstrable experience in GRAP 2 and Revised GRAP 104; sound knowledge and experience in public-sector financial reporting; a recognised professional accounting qualification such as SAICA, SAIPA or an equivalent recognised qualification; demonstrable practical experience with CaseWare financial statement and working paper files; experience in preparing or reviewing Cash Flow Statements; and provision of at least three relevant client references, preferably from public-sector institutions. A curriculum vitae must be attached.

The Finance Department intends to appoint a suitably qualified and experienced training service provider to provide specialised training on GRAP 2 – Cash Flow Statements and Revised GRAP 104 – Financial Instruments. The purpose of the training is to strengthen the Finance team's technical knowledge and practical application of these standards, particularly in the preparation, presentation, classification, measurement, disclosure and review of financial information.

Key Training Areas:

1. GRAP 2 – Cash Flow Statements: Preparation and presentation of the Cash Flow Statement for Direct and Indirect Method; Classification of operating, investing and financing activities; Cash and cash equivalents; Reconciliations and supporting calculations; Treatment of non-cash transactions; Common errors and audit findings; Practical preparation and review of Cash Flow Statements.
2. Revised GRAP 104 – Financial Instruments: Identification and classification of financial instruments; Initial and subsequent measurement; Impairment; Derecognition; Financial instrument disclosures; Financial risks and related disclosures; Practical public-sector examples and case studies; Common audit issues relating to financial instruments.
3. CaseWare Application: The service provider must have practical knowledge of CaseWare and demonstrate how the requirements of GRAP 2 and Revised GRAP 104 are supported through the CaseWare financial statement and working paper files. This includes supporting schedules, calculations, reconciliations and disclosures.
4. Audit Readiness: The training must include practical guidance on responding to Auditor-General queries, preparing appropriate supporting evidence, identifying potential financial reporting issues and ensuring that the financial statements and working papers are audit-ready.

Expected Outcome: At the completion of the training, Finance officials should have improved technical knowledge and practical skills to correctly apply GRAP 2 and Revised GRAP 104, prepare and review the relevant financial statement information, maintain appropriate CaseWare working papers, identify potential reporting issues and respond effectively to Auditor-General queries.

Key Training Areas: 1. GRAP 2 – Cash Flow Statements: Preparation and presentation of the Cash Flow Statement for Direct and Indirect Method; Classification of operating, investing and financing activities; Cash and cash equivalents; Reconciliations and supporting calculations; Treatment of non-cash transactions; Common errors and audit findings; Practical preparation and review of Cash Flow Statements. 2. Revised GRAP 104 – Financial Instruments: Identification and classification of financial instruments; Initial and subsequent measurement; Impairment; Derecognition; Financial instrument disclosures; Financial risks and related disclosures; Practical public-sector examples and case studies; Common audit issues relating to financial instruments. 3. CaseWare Application: The service provider must have practical knowledge of CaseWare and demonstrate how the requirements of GRAP 2 and Revised GRAP 104 are supported through the CaseWare financial statement and working paper files. This includes supporting schedules, calculations, reconciliations and disclosures. 4. Audit Readiness: The training must include practical guidance on responding to Auditor-General queries, preparing appropriate supporting evidence, identifying potential financial reporting issues and ensuring that the financial statements and working papers are audit-ready.

Expected Outcome: At the completion of the training, Finance officials should have improved technical knowledge and practical skills to correctly apply GRAP 2 and Revised GRAP 104, prepare and review the relevant financial statement information, maintain appropriate CaseWare working papers, identify potential reporting issues and respond effectively to Auditor-General queries.

Mandatory Requirements (Minimum Service Provider Requirements): The proposed facilitator must: Have a minimum of five (5) years' relevant experience as a financial reporting/accounting training facilitator; Have demonstrable experience in GRAP 2 and Revised GRAP 104; Have sound knowledge and experience in public-sector financial reporting; Hold a recognised professional accounting qualification, such as SAICA, SAIPA or an equivalent recognised qualification; Have demonstrable practical experience with CaseWare financial statement and working paper files; Have experience in preparing or reviewing Cash Flow Statements; Provide at least three relevant client references, preferably from public-sector institutions. A curriculum vitae must be attached.

Mandatory Requirements (Minimum Service Provider Requirements): The proposed facilitator must have a minimum of five (5) years' relevant experience as a financial reporting/accounting training facilitator; demonstrable experience in GRAP 2 and Revised GRAP 104; sound knowledge and experience in public-sector financial reporting; a recognised professional accounting qualification such as SAICA, SAIPA or an equivalent recognised qualification; demonstrable practical experience with CaseWare financial statement and working paper files; experience in preparing or reviewing Cash Flow Statements; and at least three relevant client references, preferably from public-sector institutions. A curriculum vitae must be attached.