Insurance Regulatory Authority (IRA) – Invitation for Expression of Interest – For Provision of Internal Audit Services

Invitation for Expression of Interest - EOI/02/2009-2010 For Provision of Internal Audit Services


The Insurance Regulatory Authority (IRA) was created by the Insurance (Amendment Act) of 2006 which came
into effect on 1st May, 2007. IRA was established with the mandate of regulating, supervising and developing the
insurance industry in Kenya.
IRA has outsourced its internal audit process for the past 1 year. IRA and is seeking expressions of interest from
reputable firms of accountants who are interested in:

• Assisting IRA to develop and maintain a Risk Based Internal Audit Plan
• Performing an internal appraisal of IRA’s operations in accordance with the Internal Audit Plan
• Working with IRA’s Management to facilitate continuous improvement of systems and proactive management of risks
• Researching, disseminating and tailoring of best practice relevant to IRA
• Providing advice in relation to IRA procedures and systems

IRA is proposing to enter into a contract for provision of these services for an initial period of one year, commencing
as soon as possible after 1 July 2010, but is prepared to consider an extension of the contract period for two further terms of one year.
IRA is therefore inviting Expressions of Interest for the Provision of Internal Audit Services. The expression of interest should include the following information:

• The Firm’s Profile including details of other services offered.
• Copy of the following documents:

• Registration certificate
• PIN Certificate
• VAT certificate
• Valid Tax Compliance Certificate

• Capability statement including brief details of similar assignments undertaken in the last two years and references of persons who may be contacted to verify the same.
• Details of the team that is likely to be involved in this assignment at the operational level and the rationale behind the composition of the team.

IRA will utilize the expressions of interest to shortlist suitable service providers. IRA reserves the right to request
further information from shortlisted candidates. This may be by way of a formal presentation to a selection panel or
written presentations, at the discretion of the IRA.
The firm to provide these services will be invited to submit a proposal and will be selected on the basis of demonstrated capacity to provide the required services. Interested firms are requested to familiarize themselves
with the draft Terms of Reference (T.O.R) for this assignment.
The draft T.O.R can be downloaded from our website ( www.ira.go.ke ).
Expression of interest documents should be delivered in a plain sealed envelope clearly marked EOI/02/2009-2010 – FOR PROVISION OF INTERNAL AUDIT SERVICES
Should be addressed to:


The Chief Executive Officer
Insurance Regulatory Authority
Zep- Re Place, Longonot Road,
P.O. Box 43505 NAIROBI
Tel 4996000, Fax 2710126

and be deposited in the tender box situated on 6th floor Zep-Re Place so as to be received on or before Friday
14th May 2010 at 11:00 AM. Late submissions will be returned unopened.
Chief Executive Officer