(Unidade –
Disciplina –
Trabalho)
MINISTÉRIO
DO
PLANEAMENTO,
FINANÇAS E
ECONOMIA
AZUL
Agência
Fiduciária e
de
Administração
de Projectos
Projecto
Reforço de
Capacidade
Institucional
PEDIDO DE
MANIFESTAÇÃO
DE INTERESSE
(SERVIÇOS DE
CONSULTORIA)
PAÍS: São
Tomé e
Príncipe
PROJETO:
Projecto
Reforço de
Capacidade
Institucional
(PRCI)
Serviços de
consultoria,
Ref nº:
49/C/ICB/2019:
Auditoria
financeira
às 4
empresas do
Estado.
O Governo da
República
Democrática
de S. Tomé e
Príncipe
recebeu um
apoio
financeiro
do do Banco
Mundial para
implementar
o Projecto
Reforço de
Capacidade
Institucional
(PRCI/D-3080),
e pretende
aplicar
parte deste
financiamento
em serviços
de
consultoria
para auditar
as quatro
empresas do
Estado a
saber: EMAE,
ENAPORT,
ENASA e
CORREIOS.
Os serviços
de
consultoria
(“os
Serviços”)
incluem:
(i) Executar
procedimentos
para obter
evidência de
auditoria
sobre os
valores e as
divulgações
nas
demonstrações
financeiras;
(ii)
Garantir que
a selecção
desses
procedimentos
seja baseada
em
julgamento
adequado,
incluindo a
avaliação
dos riscos
de distorção
relevante
nas
demonstrações
financeiras,
independentemente
se causada
por fraude
ou erro;
(iii)
preparação
do relatório
anual
agregado da
Unidade de
seguimento;
(iii)
Elaborar
procedimentos
de auditoria
após ter em
consideração
os
procedimentos
de controle
interno
relevantes
para a
elaboração e
apresentação
adequada das
demonstrações
financeiras
das Empresas
Públicas que
sejam
apropriadas
nas
circunstâncias,
mas não com
a finalidade
de expressar
uma opinião
sobre a
eficácia do
controle
interno da
entidade;
(iv) Avaliar
a adequação
das práticas
contábeis
utilizadas e
a
razoabilidade
das
estimativas
contábeis
significativas
feitas pela
administração,
considerar a
apresentação
global das
demonstrações
financeiras.
Os Termos de
Referência
(TdR)
detalhados
para a
tarefa
poderão ser
consultados:
Em anexo à
este pedido
de
manifestações
de
interesse,
ou na página
de internet
do Téla Non
– Anúncios,
no site da
AFAP, ou nas
instalações
da AFAP, nos
dias úteis,
das 8h30m às
12h00m e das
14h30m às
17h00m, cujo
endereço e
contacto
encontram-se
abaixo.
A Agência
Fiduciária
de
Administração
de Projectos
convida os
consultores
(gabinetes/empresas/firmas)
qualificados
(“Consultores”)
a
manifestarem
o seu
interesse em
fornecer os
referidos
serviços,
através do
envio da
Carta de
Intenção, CV
e dos
comprovativos
(experiência
global do
gabinete,
execução de
contractos
similares
financiados
pelo Banco
Mundial,
experiência
de trabalhos
na região,
etc.) em
envelope
fechado e
devidamente
identificado,
dirigido ao
Director-geral
da AFAP até
às 09 horas
locais do
dia 31 de
Julho, para
o endereço
abaixo
indicado ou
para o
endereço
e-mail:
projectrci@yahoo.com
ou
carlosbonfim53@hotmail.com
ou
afap2@yahoo.com.br
com a
indicação do
assunto:
Ref. Nº
49/C/ICB/2019,
primeiro e
último nome.
Chama-se a
atenção dos
consultores
interessados
para a Seção
III,
parágrafos,
3.14, 3.16 e
3.17 do
“Regulamento
de
Aquisições
de Mutuários
do IPF” do
Banco
Mundial
datado de
Julho de
2016,
revisto em
Outubro de
2017 e
Agosto 2018
(Regulamentos
de
Aquisições)
estabelecendo
a Política
do Banco
Mundial
sobre
conflitos de
interesses.
Uma “lista
curta” de
consultores
(firmas)
será
seleccionada
de acordo
com o método
de selecção
baseada na
qualidade e
no custo,
estabelecido
nos
Regulamentos
de
Aquisições.
Os critérios
para criação
da lista
curta são os
seguintes:
experiência
específica
da
empresa/gabinete
em matéria
de auditoria
contábil e
financeira,
trabalhos
realizados
em projectos
similares ou
afins
financiados
pelo Banco
Mundial e
capacidade
técnica e de
gestão da
empresa
(gabinete).
Mais
informações
podem ser
obtidas no
endereço
abaixo
durante o
horário de
expediente:
08h30 às
12h00 e das
14h30 às
17h00.
A Agência
Fiduciária
de
Administração
de Projectos
Attn:
Alberto
Leal,
Director-geral
da AFAP
Avenida
Kwame
Nkrumah,
Edifício do
Afriland
First Bank,
2º andar
Caixa
Postalnº1029,S.Tomé,
São Tomé e
Príncipe
Tel: +239
222 52 05
E-mail:
afap2@yahoo.com.br
,
carlosbonfim53@hotmail.com
,
projectrci@yahoo.com
TERMS OF
REFERENCE
AUDIT OF THE
FINANCIAL
STATEMENTS
OF
PUBLIC
CORPORATIONS
Background
and
Objective of
Work
The
Government
of São Tome
and Principe
(GOSTP) is
currently
implementing
a set of
measures
aimed at
re-establishing
the
operating
capacity and
financial
sustainability
of Publicly
owned
corporations.
In this
regard in
2018, it
commissioned
the
pre-audits
of the
financial
statements
for the year
ending
December 31,
2016 for the
following
Public
Corporations:
• ENASA
(Airport
Management
Corporation),
• EMAE
(Public
Power
Company,
• ENAPORT
(Public Port
Management
Corporation
) and
• CORREIO
(Mail
Service
Company).
As a result
of the
pre-audits,
the
Financial
Statements
of such
corporations
were revised
to comply
with a
Financial
Report
Framework
(FRF) that
is aligned
with the
International
Financial
Report
Standard
(IFRS).
These
revisions
were a
result of
the findings
of the
pre-audit
exercise,
including:
• Relevant
errors or
material
abnormalities
in the
Financial
Statements
of the
public
corporations;
and
•
Significant
bottlenecks
in the
policies,
procedures
and internal
controls of
corporations
concerning
the
preparation
of the
financial
Statements.
The
pre-audit
report led
to
improvements
in the
quality of
the
respective
financial
statements
of such
corporations
for the year
ended
December 31,
2017. Based
on this, the
Government
intends,
with the
technical
and
financial
assistance
of the World
Bank
provided
through
Strengthening
Institutional
Capacity
Project
(SICP), to
commission
the audit of
the
financial
statements
of the above
mentioned
Public
Corporations
for the
years ending
in 2017 and
2018.
Audit
Objective
The
objective of
the audit of
the
Financial
Statements
will be to
enable the
auditor to
express a
professional
opinion on
whether the
financial
statements
present
fairly, in
all material
respects,
the
financial
position of
the
enterprise
and the
results of
its
operations
and related
cash flows.
Scope of
Work
The auditor
shall
undertake
the
assignment
in
accordance
with the
International
Standards on
Auditing
(ISA) as
defined by
the
International
Federation
of
Accountants,
and comply
with the
Code of
Ethics for
Professional
Accountants
set out by
the
International
Ethics
Standards
Board for
Accountants.
Auditor’s
Responsibility
The
responsibility
of the
auditor is
to express
an opinion
on the
financial
statements
of the
Public
Corporations
based on the
audits.
These should
be conducted
in
accordance
with
international
standards on
auditing.
The auditors
should plan
and perform
the audit to
obtain
reasonable
assurance
about
whether the
financial
statements
are free of
material
misstatement.
The auditor
will also
ensure that
the audit
evidence
obtained is
sufficient
and
appropriate
to provide a
reasonable
basis for
the audit
opinion. The
Auditor will
ensure the
following:
• Perform
procedures
to obtain
audit
evidence
about the
amounts and
the
disclosures
in the
financial
statements;
• Ensure
that the
selection of
these
procedures
is based on
adequate
judgement,
including
the
assessment
of the risks
of material
misstatement
of the
financial
statements,
whether due
to fraud or
error;
• Design
audit
procedures
after taking
into
consideration
internal
control
procedures
relevant to
the
preparation
and fair
presentation
of the
Public
Corporations’
financial
statements
that are
appropriate
in the
circumstances,
but not for
the purpose
of
expressing
an opinion
on the
effectiveness
of the
entity’s
internal
control;
• Evaluate
the
appropriateness
of
accounting
policies
used and the
reasonableness
of
significant
accounting
estimates
made by
management,
consider the
overall
presentation
of the
financial
statements.
Responsibilities
of the
Management
of the
Public
Corporations
The
management
of the
Public
Corporations
shall ensure
adequate
access by
the Auditor
to the
Corporations’
accounting
records,
financial
reports,
other
documentation
and any
related
explanations
necessary
for the
fulfilment
of the
duties of
the auditor.
In addition,
management
will ensure
access to
all staff of
the Public
Corporations
during the
audit and
will
facilitate
the physical
inspection
of all the
Corporations’
fixed
assets.
Audit Report
The Auditor
shall issue
an audit
report on
the
financial
statements
of each
Public
Corporation
containing
the audit
opinion. The
report will
include at
least the
following:
1 – The
title,
addressees,
and an
opening or
introductory
paragraph
containing
•
identification
of the
financial
information
audited
including
the period
covered; and
• statement
of the
responsibility
of the
management
of the
Corporation
and the
responsibility
of the
auditor.
2 – A scope
and
methodology
paragraph
describing
the nature
of the
audit,
including:
• the
accounting
standards
that have
been applied
and indicate
the effect
of any
deviations
from those
standards;
• the audit
standards
that were
applied
(INTOSAI
standards,
ISAs, or
national
standards
that comply
with one of
these in all
material
respects);
and
• the work
the auditor
performed.
3 – An
opinion
paragraph
disclosing
whether the
financial
statements
the
financial
position of
the Public
Corporation
and the
results of
its
operations
and its cash
flows.
Management
Letter
In addition
to the audit
reports, the
auditor will
prepare a
management
letter in
which the
auditor
will:
• give
comments and
observations
on the
accounting
records,
systems, and
controls
that were
examined
during the
course of
the audit;
• identify
specific
deficiencies
and areas of
weakness in
systems and
controls and
make
recommendations
for their
improvement;
• report on
the
compliance
with
relevant
legislation
where
necessary;
•
communicate
matters that
have come to
attention
during the
audit which
might have a
significant
impact on
operations
and
financial
position of
the
Corporation;
• bring
attention
any other
matters that
the auditors
consider
pertinent;
and
• include
management’s
comments in
the final
management
letter
Similar
engagements
undertaken
The Auditor
shall
provide a
list of
similar
engagements
provided in
relation to
other
entities and
enterprises
in STP.
For each of
the
references,
the Auditor
will
indicate:
– Customer’s
Name and
address
– Activity
Sector;
– Time
(project
implementation
start/end
date);
–
Description
of works
provided;
Auditor’s
Qualifications
The Auditor
will be a
firm of
auditors
with
adequate
expertise in
financial
audit. The
Auditor must
constitute a
team who
should have:
• relevant
professional
and
educational
qualifications
and
license/registration;
• sufficient
in-depth
experience
in
conducting
audits of
the
financial
statements
of publicly
owned
corporations;
• experience
in auditing
in the
region and
have the
relevant
Portuguese
language
skills; and
• no
conflict of
interests in
relation to
the Public
Corporations
and their
activities.
Timing
The audit of
the
financial
statements
will begin
in June 2019
and will be
conducted
for a period
of not more
than sixty
days from
the date of
signature of
the
contract. At
the end of
this period,
the Auditor
will be
expected to
submit the
first draft
of the audit
report.
All
information
and
documentation
shall be
provided in
Portuguese
language.
ANNEX I
EMAE’s
Institutional
Background
The water
and Power
Company of
São Tome and
Principe,
(EMAE), has
historically
had a
problematic
management
which has
threatened
the
sustainability
of power
supply. The
EMAE is a
thermal
energy
producer,
about 93,5%,
although its
target is to
attain 40%
of renewable
energy in
near future.
The EMAE`s
dependence
on fuel
import, due
to its poor
storage
capacity,
subject the
company to.
oil prices
instability.
Fuel is
purchased
from the
Empresa
Nacional de
Combustíveis
e
Óleos(ENCO),
the National
Oil and Fuel
Company, the
country`s
sole fuel
supplier ,
which is 75
% held by
the Angolan
Oil
Corporation
(SONANGOL)
and 16% by
the
Government
of STP ..For
payment of
imported
fuel the
EMAE is
subject to
an
administrative
price set
out by the
Government
in order to
manage price
instability
and it also
benefits
from a tax
exemption
over fuel
import.
Another form
of
governmental
support is
through
governmental
issuance of
state bonds
for payment
of imported
fuel. The
EMAE has not
been able to
pay for the
majority of
imported
fuel in the
last decade,
resulting in
estimated
accrual of
debts in the
amount of 37
million
Euros
by2016,
about one
seventh of
the
Country`s
GNP Despite
such high
level of
accrued debt
the EMAE has
been working
under an
existing
arrangement
between ENCO
and the
State.
Table1: Key
Indicators
of
Performance
Parameter
Amount
Power
Enrollment
fee 59%
Number of
Customers
for power
supply
51.527
Supply
Capacity 26
MW
Power Matrix
93,4%
Thermal,
Remaining
Hidropower
Private
sector
contribution
to power
generation
0,0%
Average Cost
of service
0,32 $ / KWh
Average
Tariif 0,21
$ / KWh
T&D Average
Loss 40%
Power
account
charge fee
85%, but
only 50,5%
of
production
is charged
Debt (water,
electric
power and
basic
sanitation)
US $ 38,6
millions
Despite its
possession
of one of
the largest
tariffs in
the region,
with an
average
tariff of
US$ 0,21 per
kWh, the
EMAE is not
able to
recover
costs due to
a power
generation
matrix which
depends ,
largely, on
an
ineffective
thermal
capacity.
ANNEX II
ENAPORT’s
INSTITUTIONAL
BACKGROUND
The ENAPORT
Is a
collective
entity of
public
right,
created by
Decree-Law
Nr.03/89
dated March
21 and
published on
the OFFICIAL
GAZETTE
Nr.3.
Fifteen
years later
its By-laws
was approved
by the
Decree-law
Nr. 15/04
dated
December 30,
published on
the OFFICIAL
GAZETTE Nr
13. On the
terms of Nr.
1 of the
Article 1 of
the above
referred
By-laws, the
ENAPORT was
granted
responsibilities
and
autonomous
legal power
as well as
administrative,
financial
and
patrimonial
autonomy.
Likewise the
Nr1 of the
Article 2
states that
the
objective of
this
corporate is
port and
custom
management
in STP,
seeking its
economic
exploitation,
preservation
and
development
by
undertaking
competences
and
prerogatives
of port
authority
which are or
shall be
bestowed to
it, aiming
at port
exploration,
management
and
development
in STP,
provision of
services to
ships, port
outflow of
goods and
port service
users as
well as
shipping and
security
maintenance
within its
legal scope
of works..
The ENAPORT
Directorate
is governed
by a
Director
General
entrusted
with power
to carry out
activities
related to
services
planning,
restructuration
and
management
to ensure
reinforcement
of the
existing
laws.
The ENAPORT
is currently
constituted
as follows:
• General
Directorate
• Fiscal
Council
• Managing
Board
THE LAST
FIVE YEARS
MAP OF
CORPORATE
FEATURES
`(IN
MILLIONS)
TITLE 2014
2015 2016
2017 2018
1 – EQUITY
Share
Capital
50,00 50,00
50,00 50,00
Númber of
existing
shares or
quotes
2 –
Activities
Operation
Outcomes
Business
Bulk
70.765,10
87.179,02
92.669,48
104.206,13
Incomec
Before Tax
546,66
913,74
2.009,86
3.002,72
Operation
Net Income
335,21
592,80
1.380,75
2.259,54
3 – Income
per share
Dividends
per share
4 –
Personnel
Average
Salary
during the
Activities
127 148 156
151,00
Source:
ENAPORT `s
Balance
sheet and
accounts
2017 and
2018
ANNEX III
ENASA’s
Institutional
Background
The National
Air Security
and Airport
Corporation
was created
in December
1987 with
the
objective of
implementing
the State
policy in
the airport
field. The
ENASA has
historically
had a
problematic
management
spotted by
internal
conflicts
that have
largely
impacted on
the
sustainability
of the
corporate.
The ENASA is
in charge
for
maintenance
and security
operation of
the airport
premises
with focus
on airport
and airdrome
management
aiming at
economic
exploitation
, provision
of services
to aircrafts
and
passengers
and storage
of goods as
well as
flight
information,
advisory,
traffic
control and
air security
activities
within the
Sao Tomean
air space. A
relevant
contribution
of the
airport to
the local
economy is
touristic
visits from
abroad, such
as Europe,
America and
Africa as
well as
other
regions of
the globe.
The
connection
between the
two islands
is
guaranteed
by the STP
Airways and
Africa
Connection
comprising
thirteen
flights, in
a weekly
basis.
Relatively
to
international
connection
flights are
guaranteed,
mostly, by
foreigner
airways
which
provide
sixteen
weekly
flights from
and to
Europe and
Africa. The
overall
accrued
internal
debts by the
ENASA
towards
other
institutions
is estimated
3.0 million
Euros by the
end of 2016.
Lack of
investments
throughout
the years
has
negatively
impacted on
the
corporate ´s
operation
status. In
response to
this, the
Government
has recently
started a
set of
contacts
with
development
partners
searching
for funds to
modernize
the airport
as the short
term
solution.
Such
interventions
will,
largely,
contribute
for the
enhancement
of tourism
and other
airport
services.
The ENASA
is, most of
times,
referred as
a company
technically
in
bankruptcy
and
financially
unsustainable.
The ENASA
managers do
not support
such opinion
as the
amount of
corporeal
and
non-corporeal
assets used
by the
corporate to
carry out
its tasks is
largely,
superior to
corporate
liabilities
.The problem
is that such
assets have
never been
inscribed as
corporate `s
assets and
therefore,
have never
been
registered
into the
corporate’s
account,
giving room
to reports,
even from
the World
Bank,
stating that
the
Corporate
has a
negative
balance,
thus, graded
as
financially
unsustainable
and
technically
in
bankruptcy .
ANNEX IV
Institutional
Background
Mail Service
Corporate
Profile
The Empresa
dos Crreios
( National
Mail Service
Company) is
a public
entity based
in São Tome
with
administrative,
financial
and
Patrimonial
autonomy
The
corporate
was legally
established
in the
framework of
the state
corporate
creation and
organization
process
under line
a) of the
Article Nr.
1 of the
Decree-law
Nr. 2/82
dated
December
31,1981,
resulting
from the
extinction
of the
former
Directorate
of
Telecommunications
and Mail
Services.
This
Corporate `s
asset is
exclusively
public and
covers lands,
buildings,
equipments
including
furniture as
well as
Office and
IT
equipments,
vehicles and
other
support
materials
used to
carry out
commercial
techniques
activities.
The Mail
Service
Corporate is
a postal
sector whose
main
activity is
the
traditional
mail service
with its
traditional
business
portfolio of
correspondence,
package
order
followed by
its postal
production
line (printing
&finishing),
retrieval,
treatment,
transportation,
distribution
and delivery.
Lack of
products and
mostly
services has
consequently
been
generating a
strong
deficit in
terms of
revenues.
This
Corporate
holds, among
its
patrimonial
structures,
premises all
over the
national and
regional
territory
which might
contribute
to service
provision,
rather than
some of them
being rented,
and some
inoperative.
The
corporate `s
financial
and economic
status is
totally
deflationary,
it has not
received any
relevant
funding
source to
undertake
the rubrics
of the
economic
years `
provisional
budget, .
The
successive
country
Governments
have not
been able
yet to
revert this
situation,
showing
therefore, a
complete
commitment
on the
development
of the
country ´s
single
postal
sector.
Nowadays the
Mail Service
Corporate
continues in
a critical,
obsolete
status, the
debts of
services
provided by
the UPU
(União
Postal
universal)
above all,
regarding
quotes are
very high,
owing to
non-compliance
with
payments by
the state
contrary to
its By-laws.
The
corporate
has
benefitted
from
workshops
and seminars
on the
establishment
of services
and trade
including
financial
service and
postal area
operation
system, but
the
corporate
shall not
practice it
within the
country
because of
the high
amounts of
such debts.
It`s
necessary
the
Government
to have a
new vision
about the
postal
sector,
about the
corporate
for several
existing
investments
from
domestic
resources do
not satisfy
the current
expenditures,
therefore,
this
corporate is
completely
bankrupted.
Outcomes
Profits and
Gains 2016
2017
Variation
Sale/
Production
Made
40.343.500
436.648.550
91%
Service
Provision
2.377.784.475
1.505421.805
-58%
Corporate `s
self –
production 0
0 0
Diverse
Profits/
Gains
1.469.931.098
1.542081.110
5%
Contribution
to
Exploration
0 0 0
Off –
production
related
Profits
2.585.577.041
844.696.486
-206%
Interests
and Incomes
Obtained 0 0
0
Overall
6.473.636.114
4.328.847.954
-50%
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