Saturday June 10, 2023

The West Africa Telecommunications Regulators Assembly (WATRA) seeks a highly reputable firm that will provide professional external audit service for three (3) years. The selected firm will be responsible for the auditing of WATRA accounts. WATRA therefore invites all firms capable of providing this service to submit their technical and financial proposal in accordance with this Request for Proposal (RFP).

Technical specifications and terms and conditions and any additional information to support a submission can be found below.


The West Africa Telecommunications Regulators Assembly (WATRA) seeks a highly reputable firm that will provide professional external audit service for three (3) years. The selected firm will be responsible for the auditing of WATRA accounts. WATRA therefore invites all firms capable of providing this service to submit their technical and financial proposal in accordance with this Request for Proposal (RFP).

Technical specifications and terms and conditions and any additional information to support a submission are described in this document.


The WATRA was established in November 2002. Its current membership is sixteen (16) countries with headquarters in Abuja, Nigeria. WATRA consists of independent National Regulatory Authorities (NRAs) of member states in the Economic Community of West African States (ECOWAS) and Mauritania.


In recognition of the critical role of telecommunications in the socio-economic development and growth of nations worldwide, WATRA's primary objectives include the following: facilitate the harmonization of modern legal and regulatory frameworks toward an integrated telecoms market in West Africa; provide an avenue to share experiences and information, proffer solutions to common problems and chart a way forward for the development and advancement of telecommunications in West Africa.



This document contains statements derived from information believed to be reliable at the date obtained but does not purport to provide all the information that may be necessary or desirable to enable an intending contracting party to determine whether or not to enter into a contract or arrangement with WATRA in relation to this Service. Neither WATRA nor any of its employees, agents, contractors, or advisers gives any representation or warranty, express or implied, as to the accuracy or completeness of any information or statement given or made in this document.


The document is intended solely for the information of the party to whom it is issued ("the Bidder, Recipient" or "the Respondent").


The bidder will be required to be innovative and able to utilize all their resources and services in order to meet the expectations of WATRA towards providing the required service. This RFP document is not a recommendation, offer or invitation to enter into a contract agreement or other arrangement in respect of the supply and services as per the scope of this RFP.


No binding legal relationship shall exist between any of the Bidders and WATRA until execution of a definitive legal agreement.


The purpose of the RFP is to provide necessary information to the potential Bidders, who qualify and intend to submit their response to the RFP. Though the RFP has been prepared with sufficient care and diligence with an endeavor to provide all required information to the potential Bidders, WATRA acknowledges the fact that the potential Bidders may require more information than what has been provided in the RFP. Accordingly, in such cases, the potential Bidder(s) may seek additional information/clarification required from WATRA. WATRA reserves the right to provide such additional information/ clarification at its sole discretion.

WATRA makes no representation or warranty and shall incur no liability, whatsoever, under any law, statute, rules or regulations on any claim the potential Bidder may make in case of failure to understand the requirement and respond to the RFP.

WATRA may, in its absolute discretion, but without being under any obligation to do so, update, amend or supplement the information given in the RFP and specify additional user requirements or cancel the RFP at any time without assigning any reason thereof and without any notice.

While due care has been taken in the preparation of this document, WATRA shall not be held responsible for any inaccuracy in the information provided herein. The recipient of the RFP must apply its judgment, care and conduct its own investigation and analysis regarding any information contained in the RFP.

It is the Bidder's responsibility to:

  • Properly understand and examine the RFP.
  • Examine all other information available on reasonable inquiry relevant to the risks, contingencies and circumstances affecting its response.
  • Satisfy itself as to the completeness, correctness and sufficiency of its response;

A recipient will, by responding to the WATRA's RFP document, be deemed to have fully read and accepted all the terms as stated in this RFP document.



The Audit firm is expected to carry out the audit of WATRA Accounts in line with International Standards as stipulated by IFAC (International Federation of Accountants). The Auditor would also give an opinion on the financial statement as well as the funds received, and the expenditures made by the WATRA Executive Secretariat.

NOTE: The Financial Statements, with the report of the Auditor included, must reach WATRA Conference of Regulators within three (3) months after closing the financial year, at the AGM of the new financial year.)

The auditing firm is expected to ensure that:

  1. The Internal Control System is adequate in order to ensure the reliability of accounting and financial data, the registration of assets and the exhaustiveness of account records.
  2. All external resources are used according to the provisions of funding agreement, taking into account the economy and efficiency, solely towards the goals for which it has been assigned to accomplish.
  3. That assets and services funded are subjected to processes executed according to the provisions of the manual of procedures and that all files, necessary accounts and book-keepings were done according to the various operations in WATRA.
  4. That WATRA accounts were prepared based on systematic application of International Accounting Standards.
  5. That after the audit work of every financial year, the following reports should be prepared:
    • Audit report on WATRA Accounts
    • Special report in respect of procedures, selection of beneficiaries and consultants as well as the disbursements procedures.
    • Special report on the accuracy and eligibility of expenditures for which withdrawal was made according to the expenditures log as well as the degree of reliability of expenditures based on the structure of funds disbursements from WATRA Account.
  6. Include the auditor's comments and remarks on administrative and financial procedures and the Internal Control System
  7. Identify the issues of improvement of Systems and Controls and formulate relevant recommendation towards improvemen.
  8. List issues that attracted the attention of the auditor during the audit and that may have a tremendous impact on the implementation of the Institution's activitie
  9. Draw the attention of WATRA on any other relevant issues



The proposal shall be drawn up in English and French and must be structured in two different and separated documents in separated envelopes:

The Technical Proposal (Technical Envelope)

The Financial Proposal (Financial Envelope)


4.1.1 Auditing Firm Profile:

The Bidder shall provide a presentation and summary of its general profile including:

  • Name, title, and contact information
  • Description of relevant background
  • Description of services offered
  • At least two satisfactory references for past or ongoing audit of international organizations in the past 10 years.
  • Memberships in internationally recognized accounting and auditing bodies

 4.1.2. Independence:

  • The bidder should declare and demonstrate if it:
  • Is independent from other institutions of its government;
  • Has full budget control and autonomy;
  • Is independent when determining the scope of work;
  • Has demonstrated objectivity and integrity in the discharge of its duties and responsibilities

4.13. Qualifications and Experience

  • Outline how the auditing firm meets the required qualifications and experience
  • Identify team members to be involved with the project and their role/experience.

4.1.4 The Methodological and Technological Approach:

  • The Bidder shall provide a detailed description of the proposed audit strategy, approach and procedures including at a minimum:
  • Use of comprehensive work plans to ensure adequate audit coverage
  • Demonstration of extensive experience in conducting financial and compliance audits in conformity with best practices as well as economy, efficiency, and value for money audits
  • Code of professional and ethical conduct applicable to its entire staff and documented disciplinary procedures in the case of deviation from the code
  • Quality assurance procedures and programmes to ensure audit work is of the required standards
  • The Bidder shall provide the list of audit tools to be used to accomplish their role

4.1.5. Language Skills:

  • The Bidder is requested to demonstrate that it has enough proposed auditors that are proficient in English and French

4.1.6. Reporting

  • The bidder should provide a description of the reporting mechanisms, including details concerning:
  • The structure and format of audit reports and management letters;
  • Timely discussion of findings and recommendations with WATRA Management;
  • Provide final draft of audit reports to the Executive Secretary for his comments; Final audit reports for presentation to and discussion at the AGM; Compliance with International Auditing Standard
  • Note that the final audit reports and management letters (2 to 4 copies each) must be provided in both Languages (English and French)


The financial proposal is to be submitted as a separate document and shall include at a minimum, the following mandatory information and documents:

  • The Bidder's fixed annual fee for each of the audit year.
  • The Bidder's quotation, with the prices presented as follows:
    1. In a precise and unequivocal manner.
    2. Fixed for the term of the mandate
    3. Be quoted in US Dollars ($) only and be inclusive of all taxes
    4. Be inclusive of any and all overhead costs, administrative charges, expenses and duties that the Bidder may incur in order to provide the services described, including but not limited to secretarial, travel and accommodation costs.

The payment principle applied is a maximum 40% of annual fees is payable upon receipt of the final report by the Executive Secretariat and 60% upon the adoption of the report at the AGM of the new financial year.



All responses must be submitted to This email address is being protected from spambots. You need JavaScript enabled to view it. and received by 16:00 on 31 August, 2022.

If you should have any questions about this proposal, or need additional information, please contact: This email address is being protected from spambots. You need JavaScript enabled to view it.



This RFP is not an offer to contract. Acceptance of a proposal neither commits WATRA to award a contract to any candidate nor limits WATRA's right to negotiate in its best interest. WATRA reserves the right to contract with a candidate for reasons other than the lowest price.

The pricing, terms and conditions stated in the Bidder's response must remain valid for a period of 30 days from the due date.

WATRA reserves the right to accept or reject any or all responses to this RFP and to enter discussions and/or negotiations with one or more firms at the same time.

WATRA reserves the right to request a best and final offer.

The issuance of this document and receipt of information in response to this document shall not, in any way, cause WATRA to incur any liability, financial or otherwise.

The firm is expected to assume all costs incurred in the preparation of the response to this RFP document and in the fulfillment of any other information requested by WATRA during the evaluation of the proposals.



Price will be a significant but not the only criteria in evaluating the proposals. Consideration will also be given to the compliance of the firm and proposal with the minimum requirements outlined above and responsiveness to demands outlined.



WATRA welcomes the opportunity to clarify if need be or respond to any questions about this RFP. Any questions or information requests may be made by sending an email to This email address is being protected from spambots. You need JavaScript enabled to view it.