TERMS OF REFERENCE (ToR)
FOR VALUATION OF CARE FOR BASOTHO (CBA) ASSETS
BACKGROUND INFORMATION
Care for Basotho Association (CBA) is an autonomous association established in 2014 by the Basotho who were former employees of Care International Lesotho, for further pursue the mission of serving the vulnerable and marginalized individual and households to build their capacity to achieve self-reliance through economic empowerment, poverty reduction provision of health services and social justice in response to community needs.
OBJECTIVE OF THE ASSIGNMENT
CBA would like to engage a reputable valuator to carry out the valuation of CBA Assets located in the CBA headquarters in Maseru .The objective of the assignment is to provide professional valuation of CBAs fixed Assets and state the remaining useful life of those assets for financial reporting purposes.
SCOPE OF WORK
- The assignment involves verification and valuation of the following CBA Fixed Assets.
- Vehicles
- Office furniture
- Equipment
- Computer and ICT equipment etc
- Review and carryout assessment and verification of fixed assets
- Analyse the asset inventory to:
· Establish accurate records and class of fixed assets
· Determine the useful life of the assets as per international standards.
· Review and recommend amendment to the already existing deprecation schedule for the assets.
· Recommend to the management on the disposal items.
4. Carry out valuation exercise of CBA fixed assets and state the revalued amounts of assets
DELIVERABLES
- Produce a valuation report with the assets values as at 31st May 2024
- The basis of valuation and related details needs to be disclosed in the report
- The report should indicate the estimated remaining useful life for each type of the assets.
- The report should have a section for any open matters or a conclusion that there are no open matters
- The valuation must conform to the requirements of International Financial Reporting Standards.
- Draft report to be shared with CBA for comments before finalization.
- The draft valuation report will be subject to review and ratification by our external auditors as they need to be satisfied that it meets the criteria for being used to revalue our books. The auditors may seek inclusion of additional details if they feel that such information is necessary to meet CBA requirements or seek clarifications from the valuator regarding the report.
- The valuator should be able to finalize the report within the shortest time possible after being awarded the contract. Valuator to indicate the timeframe for completing the assignment.
ELIGIBILITY CRITERIA
- At least seven years’ experience as a practicing valuator
- Experience working for Non-governmental organizations similar to CBA will be an added advantage.
- Should be a legally registered practicing valuator firm
- Should provide company profile with up to date company registration documents
- At least 2 reference letters from previously served organisation
CBA will facilitate the consultant with all the necessary asset data and access to the assets. However, costs and logistical arrangements relating to travel shall be the responsibility of the consultant. CBA will dedicate officers to assist with all the information or clarification they may need. Interested candidates should request the list of assets to be revalued from the email below.
SUBMISSION GUIDELINES
Technical and financial proposals marked “TOR: VALUATION OF CARE for BASOTHO ASSETS” should be emailed to [email protected] on or before 26 April, 2024 at/or before 12:00 hours Lesotho time.