Invitation for Expression of Interest (EOI) for the Appointment of an External Auditor for Auditing of FAAN's Financial Statements at Federal Airports Authority of Nigeria (FAAN)

Posted by Kordinichi on Wed 05th Mar, 2025 - nigeriantenders.com

Federal Airports Authority of Nigeria (FAAN) invites qualified/competent Consultants to submit their Expression of Interest (EOI) for the Appointment of an External Auditor for Auditing of FAAN's Financial Statements. Interested Consultants should possess relevant qualifications and experience.

The Federal Airports Authority of Nigeria (FAAN) has the statutory functions of developing and managing all necessary Airport facilities and services for safe, secured and efficient carriage of passengers and goods.

In compliance with the National Open Competitive Bidding (NOCB) procedures stipulated in the Public Procurement Act, 2007 and its extant guidelines, the Authority hereby seeks the service of qualified/competent Consultants to submit Expression of Interest (EOI) for:

Title: Invitation for Expression of Interest (EOI) for the Appointment of an External Auditor for Auditing of FAAN's Financial Statements

Locations: Where we have FAAN office locations (Airports). FAAN operates twenty-six (26) Airports nationwide

Objectives
The Agency seeks to appoint an independent External Audit service provider for a tenure of three (3) years from 2024-2026. The Agency's financial statements year-end is 31st December and the financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS). The key objectives of this appointment are:

To carry out a financial audit as per International Auditing Standards and express an independent opinion whether the financial statements prepared by the Agency's Management give a true and fair view of the state of financial affairs of the Agency in accordance with International Financial Reporting Standards (IFRS) for each of the financial years during the period covered by the appointment.
To evaluate the effectiveness of financial, administrative, management and governance systems controls and structures of the Agency, to review the effectiveness of the Agency's risk management systems and processes; and to assist with the Identification of material weaknesses in the Agency's system of internal controls and in its risk management framework together with suggested measures to address the Identified weaknesses.
To secure the services of a firm that can provide an engagement partner and team that will add value to the Agency's business, governance and operating processes.
To support the Authority's implementation of IFRS 17, IFRS 18 and IFRS 9 (both of which the Authority adopted as required in its 2023 financial year), and other new IFRS statements as and when issued and become due in a manner that does not conflict with the independence and objectivity required of an external auditor.
To help strengthen the Agency's governance, ethical and operational standards and controls.
To enhance the Authority's combined assurance framework.

Scope of Work

The external auditors will be required to perform the necessary audit work to enable them to express an audit opinion for each year ending 31st December on the consolidated Financial Statements and performance of the Authority.

Eligibility Requirements

Be a corporate entity based in Nigeria.
Be incorporated in line with the laws and regulations of the Federal Republic of Nigeria.
Be licensed to practice financial and accounting audit as its core area of business.
Show proof of professional experience by indicating audited companies including international, regional and national entities of the size of FAAN.
Be a good reputation and standing company.
Have a branch office/affiliate in the application states where we have FAAN office locations (Airports).

In addition to the above, applicants are expected to submit the following in line with the provisions of the Public Procurement Act, 2007:

Evidence of Company's Certificate of Incorporation (or Business registration) with the Corporate Affairs Commission (CAC), including certified true copy of Memorandum and Articles of Association, forms CAC2 & CAC7 (where applicable).
Evidence of Company's Income Tax Clearance Certificate (or Personal Income Tax Clearance Certificates of all the Partners in case of Business Name) for the last three years (i.e. 2022, 2023 and 2024), valid till 31st December, 2025.
Evidence of current Pension Clearance Certificate, valid till 31st December, 2025 (where applicable).
Evidence of current Industrial Training Fund (ITF) Certificate of Compliance, valid till 31st December, 2025
Evidence of current Nigeria Social Insurance Trust Fund (NSITF) Clearance Certificate, valid till 31st December, 2025
Evidence of company's membership with relevant professional body.
Evidence of registration on the National Database of Federal Contractors. Consultants and Service Providers by submission of Interim Registration Report (IRR) issued by the Bureau of Public Procurement (BPP), valid till 31st December. 2025.
Evidence of Registration with the Financial Reporting Council (FRC).
Sworn Affidavit from Court of competent jurisdiction in Nigeria (Federal or State). including stamped passport photograph and signature of deponent/declarant. disclosing as follows:
- Whether or not any officer of the relevant committees of the Federal Airports Authority of Nigeria or Bureau of Public Procurement (BPP) is a former or present Director, Shareholder or has any pecuniary interest in the bidder.
- Confirm that all information presented in its bid are true and correct in all particulars
- That no Director has been convicted in any country for any criminal offence relating to fraud or financial impropriety or criminal misrepresentation of falsification of facts relating to any matter.
- That the company is not in receivership, the subject of any form of insolvency or bankruptcy proceedings or the subject of any form of winding up petition or proceedings.
- That the company does not have existing loan or financial liability with a bank, other financial institution or third party that is classical as doubtful, non-performance, bad or whose repayment portion has been outstanding for the last four (4) months.
Company's Audited Accounts for the last three (3) years (i.e. 2022, 2023 and 2024). with Auditor's seal and Directors' Signature
Evidence of financial capability to execute the project by submission of Reference Letter from a reputable Commercial Bank in Nigeria, indicating willingness to provide credit facility for the execution of project when needed.
Company's Profile, with Curriculum Vitae of Key Staff to be deployed for the project. registered Partners, Managers and other key professionals, including copies of their academic and professional certificates.
Verifiable documentary evidence of similar works successfully completed/ongoing project in the last five (5) years in the audit of accounting and financial records of companies comparable to FAAN, including Letters of Award, Contract Agreements, Job Completion Certificates, Photographs, etc.
All documents for submission must be transmitted with a Covering/Forwarding letter under the Company/Firm's Letter Head paper bearing amongst others, the Registration Number (RC) as issued by the Corporate Affairs Commission (CAC). Contact Address, Telephone Number (preferably GSM No.), E-mail address, names and nationalities of the Directors of the Company at the bottom of the page and duly signed by the authorized officer of the firm.

Closing Date of Tender Document
Submission of pre-qualification documents shall close at exactly 11:30 am on Monday, 17th March, 2025.
Submission of Pre-Qualification Documents
The documents are to be submitted in soft copy (flash drive) and two (2) hard coples (One original and one copy) in A4 paper size and neatly bound. The document should be arranged in the order listed above and clearly separated by dividers. The documents must be sealed in an envelope and the Project Name clearly written at the top left corner of the envelope. All documents must be submitted to:
The Office of The General Manager (Procurement),
FAAN Headquarters,
Ikeja, Lagos.
Contacts: Phone No. 08022231051 or 08152353282 (Available within the hours of 8am - 4pm, Monday - Friday)
Email Address: procurement @faan.gov.ng

Opening of Pre-Qualification Documents

All submissions will be opened immediately after closing at 11:30 am on Monday 17th March, 2025 at the Procurement Department. Maintenance Yard, FAAN Headquarters, Ikeja, Lagos.

Important Information

FAAN reserves the right to verify the authenticity of any claims made on the bid documents submitted by companies.
Failure to comply with the instruction(s) and provide any required document(s) may automatically result in disqualification.
Original of all the above-listed eligibility documents may be requested for sighting as at when needed.
Late submissions will be returned un-opened.
All submissions must be in English language.
Bidders can submit through Post (Courier Services), provided the bid is received before deadline.
Only shortlisted firms will be invited at a later date for collection of Request for Proposals (RFPs).
At a later stage, prequalified bidders would be requested to submit the updated copies of their statutory documents (le. Tax, PENCOM, ITF, NSITF, BPP and anyother relevant document) failure which may lead to disqualification.
This advert shall not be construed to be a commitment on the part of FAAN, nor shall it entail the bidder to make any claim(s) whatsoever and/or seek any indemnity from FAAN, by virtue of such bidder having responded to thispublication.
FAAN is not bound to shortlist any firm and reserves the right to annul the Procurement process at any time without incurring any liabilities in accordance with Section 28 of the Public Procurement Act, 2007.