Financial Audit Services for Uzbekistan Electricity Transmission Project

REQUEST FOR EXPRESSIONS OF INTEREST (REOI) Country: Republic of Uzbekistan Project: Electricity Sector Transformation and Resilient Transmission Project (ESTART) Assignment: Audit of Project Financial Statements for FY 2025 and FY 2026 Grant No.: GCF TB0B5948 Reference No.: ESTART/LCS/AUDIT/2025

• Background

The Republic of Uzbekistan has received financing from the World Bank, including a GCF loan and IDA credits, for the implementation of the ESTART Project . The Project is implemented by the Project Implementation Unit (PIU) under the Joint Stock Company National Electric Grid of Uzbekistan (NEGU) . In accordance with the financing agreements, the Project is required to have its financial statements audited annually by an independent external auditor acceptable to the World Bank.

• Objective

The objective of the assignment is to conduct an independent audit of the Project Financial Statements for the financial years ending December 31, 2025 and December 31, 2026 , and to express a professional opinion in accordance with International Standards on Auditing (ISA) and World Bank requirements.

• Scope of Services

The audit shall include, but is not limited to:

• Audit of the Project Financial Statements prepared in accordance with IPSAS (Cash Basis) ;
• Review of Statements of Expenditure (SOEs) and Interim Unaudited Financial Reports (IFRs) ;
• Review of the Designated Account(s) ;
• Verification of compliance with financing agreements, including World Bank procurement requirements;
• Issuance of:
• Audit opinion on the Project Financial Statements; and
• Management Letter identifying internal control weaknesses, instances of non-compliance, and recommendations.

Detailed scope is provided in the Terms of Reference (TOR) .

• Duration

The assignment covers audits for:

• FY 2025 – Audit report due by May 31, 2026
• FY 2026 – Audit report due by May 31, 2027

Subject to satisfactory performance and World Bank no-objection, the contract may be extended for subsequent fiscal years.

• Selection Method

The consultant will be selected in accordance with the World Bank Procurement Regulations for IPF Borrowers , using the Least-Cost Selection (LCS) method.

• Shortlisting Criteria and Scoring Matrix (LCS)

Shortlisting will be carried out using a point-based evaluation of Expressions of Interest. The maximum score is 100 points . No. Criterion Max Points Evidence Required 1 General experience in external financial audits 25 Firm profile; year of establishment 2 Experience in auditing WB/IFI-funded projects 40 Assignment list indicating client, financier, period 3 Experience with ISA and IPSAS (Cash Basis) 20 Description of relevant assignments 4 Availability of qualified audit professionals 15 Brief summary Total 100 Minimum passing score: Firms must obtain at least 70 points to be shortlisted. Only shortlisted firms will be invited to submit Technical and Financial Proposals. Financial proposals will be evaluated using the Least-Cost Selection (LCS) method.

• Conflict of Interest

Consultants shall not have any conflict of interest and shall comply with the World Bank’s conflict of interest provisions .

• Submission of Expressions of Interest

Interested firms are invited to submit Expressions of Interest (EOI) demonstrating their qualifications and relevant experience. EOIs must include:

• Firm profile and legal registration documents;
• Description of similar assignments completed in the last 5–10 years;
• CVs of key professional staff;
• Copies of professional licenses or certifications (where applicable).
• Submission Deadline and Address

EOIs must be delivered in writing by an email and relevant documentation no later than: 07/01/2026, 11:00 Tashkent time to the following email: Email: pmu.modernization@gmail.com

• Additional Information

Further information may be obtained at the address above during office hours. The Terms of Reference (TOR) is being attached. Agency: National Electric Grid of Uzbekistan.. Procurement method: Least Cost Selection Notice type: Request for Expression of Interest Status: Published Value: 50000.0 USD