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Zambia Government Gazette dated 2022-03-11 number 7101

REPUBLIC OF ZAMBIA

Act—

Price: K15.00 net
Published by Authority Annual Subscription: —K400.00

No. 7101] Lusaka, Friday, 11th March, 2022 [Vol. LVIII, No. 25

GAZETTE NOTICE NO. 480 OF 2022 [0484563 (c) Review and evaluate the Fund’s internal control and
risk management system and advising Management
Public Service Pensions Fund Board
and the Board on adequacy/effectiveness of the
Expression of Interest system, and proposals for its improvement
Request for Expression of Interest to Provide External Audit (d) Review adequacy of the Fund’s Information system
Services to Public Service Pensions Fund Board (PSPFB) for and related infrastructure
the Financial Years 2021, 2022 and 2023 (e) Provide any other value-addition services consistent
with the audit of the Fund
Background
Expected Outputs
THE Public Service Pensions Fund Board (PSPFB) is a creation
under an Act of Parliament No. 35 of 1996 CAP 260 of the Laws of The expected outputs of the assignment are as follows:
Zambia. It administers a defined benefit scheme (PAYGO system) (a) Audit Opinion on the financial statements
and provides, under the rules of the Fund, retirement benefits for the
Defence Forces, Security, Civil Service, Police and Prisons Service, (b) Management Letter
Teaching Service and Judicial Service. It is a tax exempt approved Experience and Qualifications
scheme under the Income Tax Act. Employees’ contribute at the rate
of 7.25% of their basic salaries and the employer the same rate. The Interested Firms should provide the following documents and
functions of the Board are: meet the requirements listed below to be considered for
shortlisting:
(a) Control and administer the Fund in accordance with sound
business practices and in the best interest of the members (a) Copy of Certificate of incorporation or equivalent
of the Fund, subject to the provisions of the Act; (b) Copy of valid Tax Clearance Certificate
(b) Establish a scheme for homeownership by the members (c) Copy of National Pension Scheme Authority
of the Fund and to grant, on such terms and conditions (NAPSA) Compliance Certificate
as the Board shall determine, loans to members of the
(d) Submit proof of registration of the Firm with the
Fund for the purpose of building or purchasing their
Zambia Institute of Chartered Accountants (ZICA)
own residential property; and
(e) The Firm should have been in operation for at least
(c) Do all such other acts and things as may be conveniently
five years
combined or carried out together with any function
conferred upon the Board by or under the Act or are (f) The Firm should show proof of experience in similar
incidental to or connected with the carrying out of any assignments (Firms to provide a list of clients,
such functions. description of services offered and associated values
(fees) of previous similar assignments)
The Public Service Pensions Fund Board (PSPFB) now invites
eligible qualified Zambian registered Auditing Firms to express interest (g) Written statement to confirm that the Firm and its
in providing external audit services to PSPFB for the financial years Partners have not been subjected to any disciplinary
2021, 2022 and 2023. action by ZICA or other related professional bodies
Scope of Services (h) Written statement to confirm that the Firm and/or its
partners and key staff are not aware of any conflict
The Scope of services for the assignment are as follows: of interest which may exist with PSPFB
(a) Conduct independent audit of the PSPFB activities/ (i) Key Professional staff must be registered members of
operations in line with International Standards on ZICA with valid practicing Licences where
Auditing and International Financial Reporting Standards applicable. Firms must submit CV’s and copies of
(b) Express an opinion on whether or not the provisions of qualifications of proposed key staff including
the PSP Act have been complied with; whether or not all certificates of registration with ZICA where
the information and explanations which was required applicable. Key staff are as follows:
have been obtained; whether according to the information
(i) Engagement Partner: Minimum
and explanations given and as shown in the books relating
qualifications – Full ACCA/CIMA with
to the Fund, the financial statements for the year
not less than ten (10 No.) years experience,
concerned are properly drawn up so as to exhibit a true
registered with ZICA with a valid
and correct view of the state of the Fund; and whether
practicing licence (Attach Copies of
the expenses of the Board incurred in the year concerned
in connection with or incidental to the management and Certificates of Relevant Qualifications and
administration of the Fund are excessive Practicing Licence)
203