Tenders Are Invited For Chartered Accountant Firms For Physical Inspection, Revaluation Of All Paa Property, ... in Pakistan

Work Detail

Tenders are invited for Chartered Accountant Firms for Physical Inspection, Revaluation of All Paa Property, Plant and Equipment Comprehensive revaluation of specified asset classes, including Investment Properties and properties under Sukuk Bonds, across all 55 PAA locations as at 30th June,2025 A Chartered Accountant Firms that is: - Registered with the Institute of Chartered Accountants of Pakistan (ICAP); - Holds International affiliation; - Has at least ten (10) years of experience in the field; - Has at least ten (10) active partners, as at the date of applying; and - A category firm from the panel of auditors, maintained by State Bank of Pakistan under Section 35(1) of Banking Companies Ordinance, 1962. -Having services of revaluation firm that is registered with SBP and listed in Panel 1 or Panel 2 of the Pakistan Banks Association (PBA) approved list of valuators. 01st July 2025 2:30 PM 2. Reassessment of useful lives and residual Values of all PAA Assets including Investment Properties and properties under Sukuk Bond; 3. 100% Physical Verification, including identification and recording of those items which are found on floor but not available in the system and vice versa, and Tagging, where missing, of all PAA Fixed Assets at every PAA location as at 30th June, 2025 (interim cutoff date would be decided later through mutual discussion with the Consultant). The Consultant is also expected to recommend, devise and implement a system for real-time tagging of fixed assets directly by each custodian location on receipt and capitalization of assets; 4. Impairment testing over potentially impaired assets and / or Cash Generating Units (CGUs); 5. Categorization of additions, for the year 2024 - 25, into Property, Plant and Equipment and Investment properties; 6. Reconciliation of Fixed Assets Module with the General Ledger and audited financial statements for the year ended June 30, 2025; 7. Incorporation of all the above work in ERP Oracle. Use of ERP developers and functional experts of the audit firm, where required; 8. The Consultant shall evaluate the ongoing policy of revaluation of assets, perform its Cost Benefit Analysis (CBA) and recommend the best possible solution to bring further efficiencies and effectiveness in processes in this regard. The Consultant will need to prepare a presentation for consideration of the Competent Authority, in case it recommends a change in policy; and 9. Coordinate with Commercial / Internal / Government Auditors or any other related department for any specific requirements for information / documents / work methodology relating to the assignment. 10. Scope shall be completed in the light of applicable International Financial Reporting Standards (IFRSs) and International Accounting Standards (IASs) and directives issued under the Companies Act, 2017 11. Completion period of work is 90 days from the start of the assignment. Closing Date: 1/7/2025 Closing Time: 2:00:00 PM Opening Time: 2:30:00 PM Tender Link : http://www.ppra.org.pk/download.asp?tenderid= 195947

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