ELECTRICITY DISTRIBUTION AND SUPPLY AUTHORITY (EDSA)

REPUBLIC OF SIERRA LEONE

REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – FIRMS SELECTION)

COUNTRY: SIERRA LEONE

NAME OF PROJECT: Sierra Leone Energy Sector Utility Reform Project (P120304)

Loan No./Credit No./ Grant No.: IDA-64110

Assignment Title: Audit of the Financial Statements for the Energy Sector Utility Reform Project for the financial year ended 31st December 2021

Reference No.: SL-EDSA-289027-CS-LCS

Date Issued:                             14th April 2022

Closing Date:                           28th April 2022

Background:

The Government of Sierra Leone (GoSL) has secured funding form the World Bank to implement the Enhancing Sierra Leone Electrification Project (P171059) and the Energy Sector Utility Reform Project   Additional Financing (ESURP-AF) and intends to apply part of the proceeds for consulting services.

On 17 January 2014, the Republic of Sierra Leone (“Recipient”) and the International Development Association (“Association”) entered into a financing Agreement. The Association agrees to extend to the Recipient a credit in an amount equivalent to twenty-six million one hundred thousand Special Drawing Right (SDR 26.1 million (US$40 million equivalent) (variously, “Credit” and “Financing”) to assist in financing the Energy Sector Utility Reform Project. The parent project in the amount of SDR 26.1 million (US$40 million equivalent) was approved on November 21, 2013, and became effective on December 15, 2014. A level II project restructuring was approved on April 7, 2015, to designate the newly established and operational Electricity Distribution and Supply Authority (EDSA).

Objective

The objective of the audit of the project financial statements is to enable the auditor to express a professional opinion on the project’s Statement of Cash Receipts and Payments for the year ended 31st December 2021 and report on any areas of non-compliance identified in carrying out the audit with the respective Financing Agreements and Project Implementation Manuals (howsoever called). The project’s books of account provide the basis for preparation of the financial statements and are established to reflect the financial transactions in respect of the project.

The consulting services (“the Services”) include:

Scope

1. The audit will be conducted in accordance with International Standards on Auditing or International Standards of Supreme Audit Institutions. Those Standards require that the auditor plans and performs the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.
2. In complying with International Standards on Auditing, the auditor is expected to pay particular attention to the following matters, including special considerations for public sector entities:

1. In planning and performing the audit to reduce audit risk to an acceptably low level, the auditor should consider the risks of material misstatements in the financial statements due to fraud, as required by International Standard on Auditing 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements.
2. When designing and performing audit procedures and in evaluating and reporting the results thereof, the auditor should recognize that noncompliance by the project with laws and regulations may materially affect the financial statements, as required by International Standard on Auditing 250 (Revised) Consideration of Laws and Regulations in an Audit of Financial Statements.
3. The auditor should communicate audit matters of governance interest arising from the audit of financial statements to those charged with governance of the project, as required by International Standard on Auditing 260 (Revised) Communicating with Those Charged with Governance. Those charged with governance of the World Bank supported projects would be expected to be the Minister of the respective implementing Ministry and its Audit Committee.
4. The auditor should appropriately communicate to those charged with governance and to management any deficiencies in internal control that the auditor has identified in an audit of financial statements, as required by International Standard on Auditing 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management.
5. To reduce audit risk to an acceptably low level, the auditor should determine overall responses to assessed risks at the financial statement level and should design and perform further audit procedures to respond to assessed risks at the assertion level, as required by International Standard on Auditing 330 The Auditor’s Response to Assessed Risks.
6. When certain aspects of the project’s operations are performed by a third-party service provider, the auditor is expected to include an understanding and assessment of the internal control environment of the service provider during the audit process, as required by International Standard on Auditing 402 Audit Considerations Relating to an Entity Using a Service Organization.
7. As part of the audit process, the auditor is expected to obtain written representations from management and, where appropriate, those charged with governance, as required by International Standard on Auditing 580 Written Representations. 
8. When the external auditor decides to use the work of an entity’s internal audit function to modify the nature or timing, or reduce the extent, of audit procedures to be performed directly by the external auditor, the determination shall be in accordance with International Standard on Auditing 610 (Revised 2013) Using the Work of Internal Auditors.  
9. In determining whether to use the work of an auditor’s expert or the extent to which the work of an auditor’s expert is adequate for audit purposes, the determination shall be made in accordance with International Standard on Auditing 620 Using the Work of an Auditor’s Expert.  

Electricity Distribution and Supply Authority (EDSA) now invites eligible consulting firms (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. The shortlisting criteria are:

Shortlist Provided by Audit of Sierra Leone

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 2016 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest.  In addition, please refer to the following specific information on conflict of interest related to this assignment as per paragraph 3.17 of the Procurement Regulations

Consultants may associate with other firms to enhance their qualifications but should indicate clearly whether the association is in the form of a joint venture and/or a sub-consultancy. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if selected.

A Consultant will be selected in accordance with the Least Cost Selection Method set out in the Procurement Regulations.

Further information can be obtained at the address below during office hours: 0900 to 1700 hours Sierra Leone local Time

Expressions of interest must be delivered in a written form to the address below in person, or by mail, or by or by e-mail by 28th April 2022 at 05:00PM Sierra Leone time

The detailed Terms of Reference (TOR) for the assignment can be obtained at the address below during office hours, that is 09:00AM to 05:00PM Sierra Leone Local Time

Electricity Distribution and Supply Authority (EDSA)

Attn: Emmanuel Ozigbo

Project Implementation Team Office

17E Wilkinson Road,

Freetown, Sierra Leone

E-mail: [email protected]

Copy: [email protected]