HERE AND BEYOND
Tender for selection of independent auditor
Media Room

Ameriabank is holding a tender for selection of independent auditor. The tender shall be organized in accordance with the terms and procedure defined under the Ameriabank CJSC Instruction on Selection of Independent Auditor. The Instruction is available at www.ameriabank.am.   

Bids should be submitted to Ameriabank CJSC, 2 Vazgen Sargsyan Street, Yerevan. Opening date: April 16, 2018. Closing date: May 16, 2018. During this period bids are accepted every business day from 11:00 AM until 03:00 PM. 

Bids should contain 2 parts and be submitted in glued, signed and stamped envelope. 

First part should contain technical proposal and second part should contain financial proposal. Financial criterion for assessment of bids is the offered price of services which should be cited in Armenian drams and include all applicable taxes and charges. Technical assessment criteria are as follows:

  • Recognition (reputation) of the firm in Armenia and on international arena
  • Expertise of the firm in the sphere 
  • Qualifications of audit team 
  • Methods to be used in the process of audit
  • Offered term for completion of audit and provision of report 
  • Scope of audit

 

Interested candidates should also provide their charter, audit license and most recent financial statements approved in accordance with the procedure envisaged under applicable law.

 

Scope of audit should include: 

  • Test-based review of information and disclosures in financial statements
  • Review of accounting principles, essential estimates of management and manner of submission of financial statements 
  • Review of reports submitted to the CBA
  • Provision of audit conclusion and management letter

 

Bids should be submitted separately for each of the following periods:  

  • Financial year 2018 
  • Financial years 2018 and 2019 
  • Financial years 2018-2020 

 

Scope of audit should cover the following: balance sheet, financial performance in the reporting period, equity and cash flow statements, notes to financial statements, and a random check of reports submitted by the bank to the CBA.

Audit should be completed and conclusion provided within 40 calendar days starting from commencement date of audit.

Management letter should be provided within 15 calendar days starting from the date of submission of audit conclusion.

Audit should be conducted in accordance with audit standards defined under the legislation of Armenia and International Standards on Auditing issued by the International Federation of Accountants. 

Tender will be finalized by June 01, 2018. The Board of Directors should review and evaluate bids, approve the price limit and submit it along with bids to the General Meeting of Shareholders for approval. The resolution of the General Meeting of Shareholders on awarding the contract becomes effective from the moment of adoption. Within 1 month after awarding of contract the bank and the winning firm enter into an agreement on provision of audit services.

Contract is awarded to the bidder scoring the highest in evaluation.

Selection criteria, scope and other details are defined in the Ameriabank CJSC Instruction on Selection of Independent Auditor. The Instruction can be found at www.ameriabank.am or ordered from the headquarters of the bank (2 Vazgen Sargsyan Street, Yerevan, Armenia, tel.: +374 10 561111).

Updated 10.04.2018, 14:23
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