Invitation for Bids: Provision of External Audit Services

Introduction:

Noonu Atoll LAC. LTD. is a wholly owned company of the Noonu Atoll Council, registered under the Companies Act (07/2023) in the Republic of Maldives in 2023. Our primary objectives encompass a range of business ventures, including tourism development, renewable energy, agriculture, waste management and recycling, utility services, and any other projects or work assigned by the Noonu Atoll Council.

Objective:

• To provide an independent assessment and opinion on the fairness and accuracy of Noonu Atoll LAC. LTD.'s financial statements for the fiscal years ending December 31, 2023, and December 31, 2024.

Scope of Audit:

• The external audit will encompass the examination of the Company's financial statements, as provided in the Terms of Reference (TOR) attached.

Auditor Qualifications and Requirements:

• Interested audit firms must meet the minimum requirements as specified in the Terms of Reference (TOR).

Proposal Submission Requirements:

• Interested firms shall submit a comprehensive proposal that includes, but is not limited to, the particulars provided in the Terms of Reference (TOR).

Evaluation Criteria:

• The selection of the external auditor will be based on the criteria provided in the Terms of Reference (TOR).

Submission Deadline:

• 1400hrs on 18th May 2025.

Submission Guidelines:

• Interested parties must complete and email the Registration Form to via this registration link no later than 1600hrs on 10th May 2025.

  Parties who do not register before the said date will not be eligible to participate in this bid.

Key Dates:

• Registration Opens: 4th - 9th May 2025, 14:00 hrs (Online: via this registration link)

• Registration Closes: 10th May 2025, 16:00 hrs

• Information Session: 10th May 2025, 12:30 hrs (via Teams)

• Queries to the Bid: 11th - 15th May 2025, 16:00 hrs

• Response to Queries: 16th May 2025, 16:00 hrs

• Bid Submission & Opening: 18th May 2025, 14:00 hrs (Online: Meeting link to be sent to registered parties no later than 14:00hrs 17th May 2025)

• Notification of Selection: 22nd May 2025

• Complaints & Appeals Deadline: 25th May 2025, 16:00 hrs

• Awarding of Contract: 01st June 2025

Scoring Criteria:

Proposals will be assessed based on:

• Price (20%): Lowest bid used as a reference for scoring others.

• Experience (80%): Points for similar projects, supported by reference letters and expertise.

Required Documents:

• Company profile

• Bidders’ references

• Comments and suggestions on the scope of work

• Description of the methodology for performing the assignment

• Team composition and tasks assignment

• Proposed fee

• Any additional forms stated in the Bid Data. 

Submission Details:

Interested individuals/firms may submit their proposals to finance@noonunaturally.com on or before the time provided above.