Expression of Interest (“EOI”) for Rendering of Audit Services on the Payroll of Bank Negara Malaysia

Introduction

Bank Negara Malaysia invites qualified and experienced internal audit/ assurance services firms, which fulfil the mandatory criteria below, to submit an Expression of Interest (“EOI”) to render audit services on the payroll and its related systems of Bank Negara Malaysia.

The appointed service provider is to provide assessments on the governance, risk management and controls on the following areas:

1. Implementation of policies and procedural requirements on payroll;
2. Administration of payroll data in Human Resource Management System (“HRMS”); and
3. HRMS, including procurement and contract management for service maintenance and upgrading of HRMS.

Mandatory Criteria

1. A legally established firm of more than five (5) years in Malaysia;
2. A firm with solid and vast experience in rendering internal audit/ assurance services to multinational companies, especially in the areas of human resource management and payroll systems, in the last five (5) years;
3. A firm with a positive net worth of at least Ringgit Malaysia: Five Hundred Thousand (RM500,000) annually in the last three (3) financial years;
4. A firm must not be in an insolvency state or involved in active litigations/ legal disputes/ insolvency proceedings relating to its services;
5. An accounting/ audit firm with valid practicing license and a member firm of Malaysian Institute of Accountants (“MIA”);
6. A firm shall be able to assign partner(s) or supervisor(s) with experience in auditing human resource functions and payroll system, and possesses relevant audit/ accounting certification(s) (e.g. Certified Internal Auditor (“CIA”), Institute of Chartered Accountants in England and Wales (“ICAEW”), Certified Information System Auditor (“CISA”)) for the purpose of supervising the audit;
7. A firm shall assign auditors with CISA certification in performing the audit on HRMS; and
8. A firm shall agree to maintain strict confidentiality of all information received from Bank Negara Malaysia by submitting a Non-Disclosure Agreement (“NDA”) (as appended in Attachment A1), duly signed by the firm’s authorised representative(s). The assigned partner(s) / supervisor(s) shall also be required to sign a Letter of Undertaking on Confidentiality (“LOU”) (as appended in Attachment A2) which shall be submitted to Bank Negara Malaysia.

Expression of Interest (“EOI”) Submission

Interested firms shall register through the Bank’s eTender system at https://procurement.bnm.gov.my. The eTender Guide can be downloaded here and it provides a step-by-step instructions to navigate the system.

Please submit the following documents in a PDF format in the eTender system by 5:00 p.m. on (Friday), 19 February 2021:

• An EOI in a single-page letter with firm’s letterhead and bearing contact details of the partner(s)/ supervisor(s) in-charge, as specified in Attachment B;
• All related documents to prove the fulfilment of all the mandatory requirements;
• The duly signed NDA by the firm’s authorised representative(s), as attached in Attachment A1 and the duly signed LOU by the assigned partner(s)/ supervisor(s) as attached in Attachment A2; and
• Personal Data Protection Consent Form duly signed by the firm’s authorised representative(s) and the assigned partner(s) or supervisor(s), as appended in Attachment C.

Upon confirmation of compliance with the mandatory requirements by Bank Negara Malaysia, the qualified firms will receive an email notification to download the Request for Proposal (“RFP”) document from the eTender system.

Bank Negara Malaysia has absolute discretion to assess and shortlist the qualified firms to be issued with the RFP. 

For enquiries, please contact:

Email address: jadprocure@bnm.gov.my