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NMBABANE – SNG Grant Thornton has been enlisted as the best evaluated tenderer to provide external audit services for Ngwenya Town Board (NTB).

This was revealed by the Eswatini Public Procurement Regulatory Agency (ESPPRA) in their website.

The tender was awarded to the company on Wednesday and they are expected to begin executing it after a period of 10 working days.

According to the regulatory agency, NTB was looking for a contractor to audit their services.

SNG Grant Thornton is expected to provide many assurances and non-assurance services for NTB.

The services include an audit of financial statements, International Financial Reporting Standards (IFRS) reporting, review of financial statements, compiling financial statements, internal audit service, advisory services, risks assurance, as well as corporate secretary.

They are also expected to provide Board of Directors with valuable information in regard to the company’s financial condition.

SNG Grant Thornton will also help NTB Board members spot potential internal oversight or unethical behaviour.

The initial proposed contract price of the tender was E94 875. Worth noting, in the past month of May, small construction companies which are based in the country have acquired over 10 tenders, which were afore granted to big companies.

This is in line with the provision and procurement of tenders in the public procurement regulations which states that local companies will be granted first preference in the evaluation of tenders in public procurement. SNG Grant Thornton was competing with five other companies for the tender and was evaluated as the best tenderer.

The total evaluation score for the five companies was revealed in the tender document and it was indicated that they all scored less than 90 per cent. SNG Grant Thornton won the tender because the company’s evaluation score managed to reach 90 per cent despite having the lowest bid price. JBH Mangament Consulting lost the despite having the highest evaluation price of E172 500, but the company also received a score of 85 per cent, thus making SNG Grant Thornton the most favourable company for the tender.

NTB was the procuring entity for the tender which was approved by the authority of the Board. ESPPRA requested the unsuccessful bidder to submit an application for review with the agency within 10 working days.

“All tenderers who submitted bids are hereby notified that a period of 10 working days is hereby allowed to for submission of any application for review,’’ said ESPPRA.

The agency also mentioned that the tender does not constitute a contract.