REQUEST FOR EXPRESSIONS OF INTEREST
(CONSULTING SERVICES – CONSULTANTS QUALITY AND COST BASED SELECTION)
Assignment Title: Selection of Internal Auditor for CCRIF SPC
Reference No: External Auditor 2021
The consulting services (“the Services”) include the provision of Internal Audit Services on behalf of CCRIF SPC through the Audit and Risk Management Committee (ARMC) of the Board.
The Internal Audit function will be contracted out to an external institution with specialized audit expertise. The Internal Audit function is responsible for the providing an independent appraisal of all CCRIF’s activities, financial and otherwise. It is responsible for evaluating and reporting to the Board of CCRIF, through the ARMC, and providing them with assurance on the arrangements for governance, risk management, control, quality of data and value for money.
The Internal Audit function will address:
- the control environment, risk assessment processes, and monitoring and control
- activities and encompasses the following business objectives:
- Safeguarding of assets;
- Reliability of financial and management information;
- Compliance with internal and external policies and regulations; and
- Operational effectiveness and efficiency.
The Internal Audit Service may also conduct any special reviews requested by the ARMC or the Chief Executive Officer (CEO) subject to the prior approval of the ARMC.
The Internal Audit firm may, when required by the ARMC, examine and report on areas of deficiency identified by CCRIF's external auditors.
Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services:
- Summary of your firm’s experience as an internal auditor particularly relevant the insurance industry
- Summary biographies of senior members of the audit team that are expected to be responsible for the audit.
The audit is expected to commence annually in August upon execution of the engagement letter and the expected level of effort (LOE).
The detailed Terms of Reference (TOR) for the assignment can be found below.
CCRIF SPC now invites eligible firms (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information (brochures, description of similar assignments, experience in similar conditions, general qualifications and number of key staff etc.) demonstrating that they have the required qualifications and relevant experience to perform the Services. Interested Consultants are required to declare conflicts of interest.
The shortlisting criteria are based on the above listed Required Qualifications and Relevant Experience.
A Consultant will be selected in accordance with CCRIF’s Quality and Cost Based Selection
Further information can be obtained at the address below.
Expressions of interest must be delivered in a written form to the address below or by e-mail by June 18, 2021
Subject Line - External Auditor 2021
Attn: Isaac Anthony, Chief Executive Officer
Registered Office: c/o Sagicor Insurance Managers Ltd., 198 North Church Street
2nd Floor, Sagicor House, P.O. Box 1087, Grand Cayman, KY1-1102, Cayman Islands