Recruitment of Consultant Firm for Internal Audit Technical Assistance — The Gambia Fiscal Management Development Project

REQUEST FOR EXPRESSIONS OF INTEREST

Name of Project: The Gambia Fiscal Management Development Project (P166695)

Grant No.: IDA-D6190

Assignment Title: Recruitment of Consultant Firm to provide Technical Assistance for the Internal Audit Department for the Development of Audit Charters and Related services for State-owned Enterprises (SOEs).

Reference No. GM-PPPPE-281769-CS-CQS

Background:

The Government of The Gambia received grant from the International Development Association (IDA) to fund the Gambia Fiscal Management Development Project (GFMDP) 2021 - 2024. The objective of the Project is to increase fiscal space and improve effectiveness of public resources management. The project is part of wider State-Owned Enterprises (SOE) reform agenda on the backdrop of the audit of the SOEs by Ernst & Young (EY). The audit has highlighted key findings including lack of proper and functional governance structures in place, internal controls and risk management.

The GFMDP activities are divided and categorized into three components as follows: component 1: improving revenue collection and digital transformation of tax and public procurement process; component 2: supporting fiscal management of SOEs and restructuring plans of Telecoms SOEs and component 3: Project implementation support and coordination. Sub-component 2.2 Improved Corporate Governance and Public Accountability of the SOEs includes the strengthening of internal audit functions in SOEs which falls under the mandate of the Directorate of Internal Audit (DIA)

The DIA is mandated by the PFA 2014 and the FR 2016 to provide independent, objective assurance and consulting activity that is design to add value and improves organization’s operations in all MDAs. The DIA helps management achieved their objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, internal controls and governance processes. In line with this mandate, the DIA in close partnership with the Project Coordination Unit (PCU) of the GFMDP at the Public Private Partnership (PPP) wish to recruit a consultant as part of the State-Owned Enterprise Restructuring Program (SOERP) to execute sub-component 2.2 as outlined in the GFMDP.

Objectives

The objectives of the assignment includes:

• Internal audit functions in SOEs are backed and guided by the required and adequate internal audit regulatory framework as per the IPPF and good corporate governance practices.

• Internal audit staff are train effectively on their roles and responsibilities in providing adequate and effective assurance and advisory services

• The required governance structure is set and functions accordingly in line with good corporate governance practice

• The board and its subcommittees are trained effectively on the execution of their duties

Scope of Services

In line with guidance of the International Professional Practice Framework (IPPF) and close partnership with the Directorate of Internal Audit (DIA), the consultant will review and revised/developed existing internal audit regulatory framework of all SOEs including:

• Internal Audit Charters – the Consultant shall review and revised/developed fourteen Internal Audit Charters

• Internal Audit Committee Charters – the consultant shall review and revised/developed fourteen Internal Audit Committee Charters

• Internal Audit Manuals – the consultant shall review and revised/developed fourteen Internal Audit Manuals

• Train board members and internal audit committees of all fourteen SOEs

• Train internal audit staff of all fourteen SOEs

• Capacitate via tailored training the DIA staff in order to enable them support the internal function of the SOE.

Qualifications, Experience and Competencies

The consultant firm must meet the following qualification and experience:

• Previous experience in developing internal audit regulatory frameworks in line with the IPPF.

• Minimum of 10 years experience in governance and financial management in Public Enterprises

• Knowledge of Enterprise Risk Management would be an added advantage

• Excellent English Writing Skills.

Submission Requirements:

The Ministry of Finance and Economic Affairs (MoFEA) through the Gambia Fiscal Management Development Project, now invites eligible consulting firms to indicate their interest in providing the Services. Interested Consultant firms should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services.

The attention of interested Consultants is drawn to Section III, paragraphs, 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” July dated July 2016 and revised November 2017 and August 2018 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest.

Consultant Firms may associate with other firms in the form of a joint venture or a sub consultancy to enhance their qualifications.

A Consultant will be selected in accordance with the Consultant Qualification Selection (CQS) method set out in the Consultant Guidelines. Further information can be obtained at the address below during office hours from 09:00 to 16:00.

Expressions of interest should be delivered in a written form to the address below (in person, or by mail) on 24 March 2022 at 12h30 GMT

Gambia Fiscal Management Development Project GFMDP

Ashobee Store Building

2nd Floor, Banjul

The Gambia

Email: [email protected], and [email protected]