Accounting and Auditing / Accounting System Design / Financial

Berhanena Selam Printing Enterprise Would Like To Invite a Bid for External Audit Service

Bid Document for External Audit Service

1. Background of the enterprise

Berhanena Selam Printing Enterprise is one of the huge and senior printing enterprises in the country. It was founded in 1921 by RasTeferi Mekonen (Later Atse Hailesilase I) in Addis Ababa with the aim of publishing Amharic-Language books and Tracts. The printing press has rendered particularly valuable services by printing newspapers and periodicals starting with the publishing of the “Berhanena Selam” (Which literally means ‘Light & Peace’) newspaper 85 years ago (1917 E.C.) and the enterprise has derived its name from this newspaper.

  • Currently, BSPE has the following branches which are:
  • Merha tibeb Branch where receipts and related print products are printed
  • Aware Branch – which serves as the Enterprise’s main store.
  • 3 Sales Offices in Addis Ababa with the objective of selling different legal related and other by-products.
  • 1 Sales Offices in Awassa city with the objective of selling different legal related and other by-products.

2. Appointment

The terms of appointment for financial and compliance Audit shall be for three consecutive years starting from 2013 E.C to 2015 E.C budget year

3. Role and responsibilities of external auditors.

The external auditor is responsible for forming an independent opinion on the annual financial statements. They are expected to conduct their audit and express an opinion in accordance with the relevant International Standard(s) on Auditing (ISA) on the financial statements of BSPE, which are prepared based on the International Financial Reporting Standard (IFRS) as of July 07 of each year.

The audit shall be conducted to express an opinion on whether the financial statements and related disclosures present fairly the financial affairs of BSPE in accordance with:

A) The International Financial Reporting Standards (IFRS);

B) Any others statutory requirements, guidance, or specific disclosure requirements of the commercial code of Ethiopia or the Financial Reporting Proclamation No.847/2014: in so far as these requirements are appropriate to the Enterprise and are enforce for the year for which the financial statements are prepared,

5.Other Requirements

  • 5.1. The external auditors will be required to provide a Management Letter. In addition to any other comments, the Management Letter should make specific comments on:
  • 5.2. The effectiveness of BSPE’s internal control system throughout the year;
  • 5.3. Progress with matters identified in previous years’ management letters.
  • 5.4. The external auditors may be required to attend meetings of BSPE’S Management to which annual BSPE’s reports and financial statements are presented
  • 5.5 The External Auditors shall have a certificate issued by Accounting and Audit Board of Ethiopia (AABE) For each Reporting period.
  • 5.6 The Audit firm has to make sure that the enterprise is working in accordance with the laws, policies and procedural manuals proclaimed either by Federal democratic Republic of Ethiopia (FDRE), the Federal Democratic Republic of Ethiopia Public Enterprise’s Holding and Administration Agency or the enterprise itself.
  • 5.7 The Audit firm has to review the performance of the enterprise in accordance with policies prepared by the enterprise and that has been approved by Supervisory Authorities or the board of directors, internal control standards, and contractual agreements
  • 5.8 The Audit firm has to make sure that Salaries and fringe benefits of employees, peridem allowances, entertainment, telephone,transportation and sponsorship expenses are disbursed as per the law and shall be checked whether they are effected properly after being approved by the concerned body,
  • 5.9 The Audit firm has to review the material management system and hence make sure that all purchases are in accordance with the policies and procedures of the enterprise and are being used only for its business purpose.
  • 5.10 The Auditor has to assess the Annual budget plans and the additional budgets if any, are already approved by the concerned governmental bodies and in addition, make sure that they are performed according to its approval.
  • 5.11 The Audit firm has to review and comment if there is any special laws regarding environmental and social development affairs,
  • 5.12 The Audit firm has to review and comment whether the top and middle level managements are committing their accountabilities and responsibilities properly through their working environment,
  • 5.13 The Audit firm has to make sure that corrective actions have been taken by the Enterprise for previous Audit Findings.
  • 5.14 The External Auditors shall be expected to submit the Audit reports along with the Management letter directly to the Federal Democratic Republic of Ethiopia Public Enterprises Holding and Administration Agency and Accounting and Audit Board of Ethiopia (AABE) as of Each Reporting Year.
  • 5.15 The External Auditors shall provide 10 copies of the Audit Reports.

6. Assessment of Tenders

 Tenders will be assessed on the following criteria:

  • Experience in providing comprehensive external audit services to companies in a similar scale and demonstrable technical expertise in International Financial Reporting Standards (IFRS).
  • Experience in advising companies with similar needs within the last three years and evidence of understanding the challenges and constraints within the sector.
  •  The quality and experience of the proposed external audit team.
  •  The suitability of the audit approach.
  • The firm’s approach to customer service and quality assurance.
  • The cost of the Audit service fee.

Evaluation criteria for Technical and Financial proposal:



Technical proposal


Number of qualified Audit professionals and work experiences


Audit report submission date


Work Experience of The Audit Firm


Deadline to start the Audit work


Work Experience of The Audit Firm within the sector



Average percentage out of 70%

Financial proposal


Cost of Audit service



N.B The total technical proposal should be 75% out of 100% to be selected for financial proposal

7. Proposal Submission

  • 7.1 The proposal validity period shall be 90 days beginning from the bid opening date. The bid will be on air for 30 days starting from the date that is the deadline for receipt of submissions is on/before……. Late proposals will NOT be accepted. It is the responsibility of the bidder to ensure that the proposal has arrived by the deadline stated. The Enterprise may at its discretion extend the deadline for the submission of proposals.
  • 7.2 Authorized representative of the Consultants shall initial all pages of the original Technical and Financial Proposals. The authorization shall be in the form of a written power of attorney accompanying the Proposal or in any other form demonstrating that the representative has been duly authorized to sign.
  • 7.3 The Proposers shall enclose the original and copy of the bid in separate envelopes duly marking the envelopes as “Original” and “Copy”. The envelopes shall then seal in an outer envelope The original & (Copy of the Technical Proposal shall be placed each in a separate sealed envelope clearly marked “Technical Proposal”, Likewise, the original and copy of the Financial Proposal shall be placed each in a separate sealed envelope clearly marked “Financial Proposal” with a remark DO NOT OPEN WITH THE TECHNICAL PROPOSAL’:
  • 7.4 The bid bond shall be placed in a separate sealed envelope and presented clearly marked ” Bond” and be submitted together with the original technical proposal,


Then, all envelops shall be placed together in an outer sealed envelope,

  • 7.5 The inner and outer envelopes shall:
  • i. Bear the name and address of the Proposer;
  • ii. Be addressed to the BSPE:
  • iii. Bear the Procurement Reference number of this bidding process; and
  • iv. Bear a warning not to open before the time and date for bid opening,
  • 7.6 If all envelopes are not sealed and marked as required, the BSPE will assume no responsibility for the misplacement or premature opening of the Proposal
  • 7.7 Submissions should be marked Private and confidential and External Audit Services and sent to:

Berehanena Selam Printing Enterprise

Arat killo Area

Old Building, 6th floor

Purchase & Property Management


Telephone No. 01-11-55-52-30


Questions or requests for clarification must be addressed to 

BSPE reserves the right not to award a contract or to accept the lowest bid.