PENSIONS AND INSURANCE AUTHORITY
PENSIONS AND INSURANCE AUTHORITY
INVITATION FOR EXPRESSION OF INTEREST
EXPRESSION OF INTEREST (EOI) FOR CONSULTING SERVICES TO CONDUCT A TRAINING ON IFRS 17 TO AUTHORITY’S STAFF
The Pensions and Insurance Authority, in its 2020 budget, has made a provision towards the cost of engaging a consulting firm to provide training services on International Financial Reporting Standards number 17 (IFRS 17) and intends to apply part of the proceeds for this provision to cover eligible payments under the contract for the said service.
The Authority is hereby calling for Expressions of Interest for provision of consultancy services to conduct training on IFRS 17.
2.0 OBJECTIVE OF THE ASSIGNMENT
The objective of the consultancy is to up skill competency of the Authority’s technical staff in IFRS 17. The successful Consultant is expected to deliver a comprehensive content that combines both the theoretical concepts and practical implementation to ensure that the participants have a thorough understanding of the IFRS 17 and its implication in the assessment of the insurance industry.
3.0 TARGETS TO BE ACHIEVED
The Consultant will be expected to design, prepare and execute training on IFRS 17. It is expected that after the training the Authority’s technical staff will have a thorough understanding of the accounting standard and its implication on the assessment of the insurance industry.
4.0 DELIVERABLES FOR THE ASSIGNMENT
- The 2-days training agenda to be approved by the appointed Project Manager.
- Provision of the Training on IFRS 17. Provide for the option of delivery via remote presentation (e.g. online video conferencing) in light of the Covid-19 Pandemic.
- All Presentations and support training material to be copied on a memory stick or hardcopies for distribution to participants on the first day of the workshop.
- Comprehensive report on the outcome of the training with recommendations.
5.0 EXPERIENCE OF THE FIRM AND STAFF
The Authority invites eligible Consultant(s) with requisite expertise in providing training in IFRS 17. The Consultant(s) should demonstrate high knowledge and skill in areas that constitute or cover the areas detailed above and must provide the following information:
Relevant experience and role of firm’s professional staff in reference to the proposed assignment:
- Experience in conducting similar trainings. Experience in working with insurers and/or reinsurance entities will be added advantage;
- Have a qualified team of key staff with Minimum of 10 years’ experience in Accounting / Auditing / Actuarial.
- The Lead Consultant should possess a MBA or post-graduate qualification in Insurance or Actuarial Science or equivalent.
Describe experience of professional staff relevant to the proposed assignment. All the proposed key members of staff must have experience in conducting training in accounting standards.
Relevant experience of the firm that best fit with proposed assignment
Core area of expertise of the firm must be described.
Firm to list relevant experiences related to this assignment during the last 5 years. Summary of similar assignments executed successfully in the immediate past 3 years focusing on brief descriptions of assignments and experience. Consultants must provide a list of companies for which the vendor has completed projects that are essentially equivalent to this EOI indicating the following;
- Project title;
- Implementing Institution;
- Duration; and
5.0 OTHER SHORTLISTING REQUIREMENTS
All interested Consultants must submit the following documents as part of their EOI for their firm:
- Certificate of Incorporation/Registration;
- Company Profile
- Valid Tax Clearance Certificate
- Registration with relevant institutions such as ZICA.
6.0 PROCUREMENT METHOD
Open National Selection: A Consultant once issued with the Request for Proposal will be selected using Quality Cost Based Selection (QCBS) Procurement Method.
7.0 DETAILS FOR SUBMISSION OF EXPRESSION OF INTEREST
Expressions of Interest clearly marked “EXPRESSION OF INTEREST (EOI) FOR CONSULTING SERVICES TO CONDUCT A TRAINING ON IFRS 17 TO AUTHORITY’S STAFF” must be deposited in the Tender Box situated on the Ground floor, PIA office Building, Stand No. 4618, Lubwa Road, Rhodespark, Lusaka on or before Thursday 9th July, 2020, at 10:00hrs. Late or faxed Expressions of Interest shall be rejected. EOI will be opened thereafter in the presence of bidders or their representatives who choose to attend.
Management Procurement Committee
FOR/REGISTRAR AND CEO