Position: External Audit Services (For Three (3) Years)

Company: Icebolethu Group
Position: External Auditor
Reference: RFP FIN01/2025
Contract Type: Fixed
Published: 6 August 2024

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Icebolethu Group is an Authorised Financial Service Provider FSP45714 and a Level 1 BBBEE Contributor is South Africa’s second largest Funeral Assurance Group. Winner of the Standard Bank KZN – Top Brand award for 2022 provides a centre of excellence and a leading provider of dignified burial solutions.

Vision Statement:

Our vision is to be the center of excellence in the funeral Industry. To offer services equal to none in order to propel strong growth for our company.

Introduction:

Icebolethu Group is an Authorised Financial Service Provider FSP45714 and a Level 1 BBBEE Contributor is South Africa’s second largest Funeral Assurance Group. Winner of the Standard Bank KZN – Top Brand award for 2022 provides a centre of excellence and a leading provider of dignified burial solutions.

Icebolethu Burial Services is currently in search of a suitable candidate to apply for the position of District Funeral Planner based in Ferndale, Randburg. The successful incumbent will be required to perform tasks supporting Funeral Planning Department.

Objective:

To invite proposals from suitably qualified External Audit service providers that can provide and maintain appropriate external audit services for to the Executive Management and Audit Committee of Icebolethu Group (Pty) Ltd.

Requirements and responsibilities:

The appointed service provider will be required to:

1. Perform an audit of annual financial statements in accordance with full International Financial Reporting Standards (IFRS) for the financial years 2024/25, 2025/26 & 2026/27 of the following companies:
   • Icebolethu Funerals (Pty) Ltd;
   • Icebolethu Burials Services (Pty) Ltd;
   • Icebolethu Catering Services (Pty) Ltd;
   • Icebolethu Tombstone (Pty) Ltd;
   • Icebolethu Foundation NPC;
   • Icebolethu Group (Pty) Ltd;
2. Express an audit opinion on the financial statements.
3. Perform audits in compliance with International Standards on Auditing (ISAs).
4. Work in conjunction with internal auditors to provide combined assurance to the Icebolethu Group (Pty) Ltd on the effectiveness of the internal control systems.
5. Communicate audit findings to management, ensuring they are fully aware of the implications for the operations of the Icebolethu Group (Pty) Ltd.
6. Attend and provide input to the Audit and Risk Committee when required.
7. Provide a final audit report with recommendations to management and the Audit and Risk Committee.
8. Perform any other ad hoc audits that may be required (to be quoted for separately).
9. Fulfil any other statutory and regulatory requirements.

Evaluation Criteria

Bids that do not achieve phase 1 mandatory requirements will not be evaluated further.

Phase 1: Mandatory requirements

The service provider must supply the following information upon submission of its proposal:

1. Proof of company registration.
2. Valid SARS tax pin / tax clearance certificate.
3. Valid BBBEE Certification/ Affidavit.
4. Company Profile.
5. The service provider’s recent two years Audited Financial Statements or a letter from independent reviewer / auditors certifying annual turnover for the most recent two financial years.
6. Proof of registration with Independent Review Board of Auditors (IRBA) and with South African Institute of Chartered Accountants (SAICA).
7. The service provider is required to have an office in Durban or surrounds. Proof of geographic representation to be submitted with the proposal.
8. Confirmation of independence as per Annexure A.
9. The pricing and costing schedule as per Annexure B.

The minimum qualifying score is 70 points (out of 100). Bids that do not achieve the minimum score of 70 for functionality will not be evaluated further.

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