Tender Title: Appointment of External Auditor for Conducting External Audit of Bank Internal Audit System

Reference Number: GEM/2025/B/6148105

Issuing Authority/Department:
Ministry of Finance, Banking Sector

Scope of Work and Objectives

The objective of this tender is to engage an external auditor who will conduct a thorough external audit of the Bank Internal Audit System. The selected auditing firm will be responsible for evaluating the effectiveness and compliance of the internal audit practices, assessing risk management processes, and providing a comprehensive report with actionable recommendations. This engagement aims to enhance the overall governance and operational efficiency of the banking sector.

Eligibility Criteria

To be considered for this tender, bidders must meet the following eligibility criteria:

• Be a registered entity with a legal presence in the country.
• Have relevant experience in conducting external audits for banking or financial institutions.
• Possess a valid license to operate as an audit firm.
• Demonstrate compliance with local laws and regulations.

Technical Requirements

Bidders are required to submit documents demonstrating their technical capabilities, which should include:

• Details of previous relevant audit projects.
• Profiles of key personnel who will be involved in the audit.
• Any certifications that validate the firm’s expertise in auditing and finance.

Financial Requirements

The proposal must outline the financial aspects, including:

• A detailed breakdown of costs associated with the audit.
• Payment terms and conditions.
• Information on any additional fees that may incur during the audit process.

Document Submission Details

All bids must be submitted in the prescribed format, which includes:

• Technical proposal.
• Financial proposal.
• Any required supporting documents. Bids should be electronically submitted through the official government portal by the defined deadline.

Special Provisions

This tender encourages participation from Micro, Small, and Medium Enterprises (MSEs) and offers special provisions for startups. This includes:

• Reduced bid security requirements.
• Technical assistance and mentorship programs for new entrants in the auditing sector.

Evaluation Process

The evaluation of bids will be conducted based on the following criteria:

• Technical competency and relevant experience.
• Financial proposal and value for money.
• Compliance with the submission requirements.
  The awarding authority will communicate its decision to the shortlisted bidders.

Delivery Locations

The appointed external auditor will be required to conduct audits at various branch locations of the banking institution as specified in the project guidelines.

Contact Information

For any inquiries regarding this tender, bidders may reach out through the official channels provided in the tender document. It is advised to communicate via emails or designated contact numbers available on the tender portal for accurate and prompt responses.