OREANDA-NEWS. On June 02, 2008 The National Bank of Tajikistan (NBT) informed about a competitive bidding process to select an audit company to carry out a special audit of its monetary aggregates and certain operations and transactions, reported the press-centre of NBT.

Bidding companies should familiarize themselves with the Terms of Reference for the special audit (attached), which were formulated by agreement between the Government of the Republic of Tajikistan, NBT and International Monetary Fund, which will be the users of the results of the special audit. The entire bidding process should be treated as highly confidential, and bidding companies should in no way share information with any outsiders. Necessary documents to take part in the competitive bidding should be sent in accordance with the conditions described below.

To participate in the competition, bidding companies should meet the following criteria:

To carry out the special audit in accordance with the Terms of Reference (attached) as soon as possible;

To have a valid unexpired license for carrying out audits issued by an authorized body;

To have specialists with valid qualification certificates of auditors to conduct audit activities in the field of general audit and audit of banks, exchanges, extra-budgetary funds and investment institutions.

Bidding companies should submit the following documents to the NBT:

a) A request for participation in the competition signed by the head of the company, and sealed, containing at least the following information:

Full name of the applying corporate entity;

Indication of the competition to select an audit company to carry out a special audit of the NBT;

Commitment of the bidding company to observe the conditions of the competitive bidding process as described in this letter.

b) A package of documents as follows:

Notarized copies of founding documents of the bidding audit company with all changes and additions;

Notarized copy of valid and unexpired license to carry out audits issued by an authorized body;

The latest accounting balance-sheet and profit/loss report of the bidding company;

Draft contract indicating the remuneration cost, plan/methodology and timetable of the audit. The price of the audit should be final, include all legal taxes and expenditures, and be indicated in EURO. A proposed payment schedule should be included as well.

c) Financial-economic status of the bidding company containing the following information for the latest financial year:

Volume of works and services (in EURO);

Number of employees who have qualification certificates that give the right to conduct audit activities in the field of general audit and audit of exchanges, banks, extra-budgetary funds and investment institutions;

End-year pre-tax profit (loss) (in EURO);

Structure of audit services;

General assessment of financial-economic status of the bidding company: current financial status of the company, indicators of financial-economic performance.

Bidding companies will not be allowed to participate in the competition if they have at least one of the following conditions:

a) They submitted documents that do not meet the mentioned requirements;

b) Documents were submitted after the deadline;

c) They submitted inaccurate information.

The winning of the bidding companies will be proposed to the NBT Board for approval, which will inform the winner about its decision by sending relevant information within 2 weeks of the deadline for submission of bids.

The winner will not be entitled to publish the NBT Board’s decision, nor to use this decision for advertisement purposes. The winner and NBT will conclude a contract in accordance with Tajikistan’s legislation, based on the results of the competition, for conducting the special audit.

The deadline for submission of the relevant documents and requests for participation in the competition is June 10, 2008.

Interested companies should send their submissions to, and may contact the following official for any further information regarding the bidding process and/or the special audit:

107A Rudaki Ave., 734003, Dushanbe, Republic of Tajikistan,

Mr. Jamshed Yusupov, Deputy Chairman NBT,

Telephone: +(992 44) 600 32 03, Fax: +(992 44) 600 31 48,

E-mail: J_Yusupov@nbt.tj