Invitation for Expression of Interest for External Independent Financial Auditor Consultant
The Kingdom of Thailand has applied for financing from the Asian Development Bank (ADB) in the form of a “loan” toward the cost of Climate Resilient Connectivity for the Eastern Economic Corridor Project: The Intercity Motorway No.7 (Extension to Link with U-Tapao International Airport). The additional Thai government budget is also allocated to support this Project. The Executing Agency of the Project is the Department of Highways (DOH), and the Implementing Agency is the Bureau of International Highways Cooperation of the DOH.
On the above context, DOH intends to invite qualified external independent financial auditor consulting firm(s) from member countries of ADB. Deadline of submission of expression of interest is on 2 July 2024.
The consulting firm will be selected under the Consultants’ Qualifications Selection (CQS) procedures following on the policies of the Bank detailed in the 2017 ADB Procurement Policy and 2017 Procurement Regulations for ADB Borrowers by Asian Development Bank and its Borrowers, which can be found at the following website:
https://www.adb.org/documents/adb-procurement-policy,
https://www.adb.org/documents/procurement-regulations-adb-borrowers.
All proposed proposal, reports, documents and recommendation must be presented in the English language.
The interested external independent financial auditor consulting firm(s) must be registered with the Consultant Database Center, Public Debt Management Office, Ministry of Finance, to be authorized to practice in Thailand.
The external independent financial auditor consulting firm(s) shall have adequate experience in Financial Auditing and must be capable of applying international and Thai Standards on Auditing. The objective of the audit of the project financial statements is to enable the auditor to express a professional opinion on whether the project financial statements fairly present, in all material respects, the financial position, results of operations, and cash flows for the period, in accordance with the agreed project accounting policies. Additionally, the auditor will express a professional opinion on the following:
- Whether the funds are utilized for the purposes for which they were provided;
- Whether the financial covenants in the loan agreement, if any, have been complied with; and
- Whether, with respect to SOEs, adequate supporting documentation has been maintained to support claims for reimbursements of expenditures incurred and that these expenditures are eligible for financing under the Loan Agreement.
The consulting firm is expected to provide services for six fiscal years from 2024 to 2029.
The Terms of Reference and other details can be downloaded at the ADB website (http://cms.adb.org).
Submission of Expression of Interest shall be only submitted by on-line thru ADB CMS (http://cms.adb.org). Any application of expression of interest submitted later than the specified date and time or submitted thru fax, courier or mail will not be entertained.
Please note that the Cost of this Project is funded by ADB’s loan (80% of the procurement cost), and the Government of Kingdom of Thailand shall provide a 20% counterpart fund. The 7% rate of value-added tax (VAT) only applied to the Government of Kingdom of Thailand’s financing.
For more information, contact:
Bureau of International Highways Cooperation
Department of Highways (DOH)
Attention: Mr.Tunwin Svasdisant - Director, Bureau of International Highways Cooperation
2/486 Si Ayutthaya Road, Thung Phaya Thai, Ratchathewi,
Bangkok, Thailand 10400
Phone: + 66 2 354 6704
Facsimile Number: + 66 2 354 6729
E-mail: tunwin.doh@gmail.com
