Appointment of Audit Firm for Semi-Annual Review and Statutory Audit of State Life Insurance Corporation Accounts for Year 2026 and Onwards

The **State Life Insurance Corporation of Pakistan Finance and Accounts Division** located in Karachi invites qualified audit firms to submit proposals for the appointment of an audit firm to conduct the semi-annual review and statutory audit of its accounts for the year 2026 and onwards. This procurement covers audit services for multiple accounting centers including principal office divisions and 34 zones/cost centers across major cities such as Karachi, Lahore, Rawalpindi/Islamabad, Peshawar, Faisalabad, Multan, and Quetta. The scope includes physical verification of stock, cash, and imprest, audit of consolidated trial balance, statutory audit of annual accounts and half yearly reviews, audit of financial statements in accordance with IFRS and IAS applicable in Pakistan, audit of regulatory returns, and compliance reviews under SECP and Insurance Ordinance requirements. The audit firm must be an 'A' rated Chartered Accountants firm approved by SECP, have at least seven partners, be registered with FBR and provincial tax authorities, and have a satisfactory quality control review by ICAP. Firms must not be debarred by Audit Oversight Board or any regulatory authority. The technical proposal and financial bids are to be submitted separately through the E-PADS system following the single stage two envelope procedure. The **technical bid will be opened on 2026-05-04 at 11:30 AM**, and financial bids of technically qualified firms will be opened later. The pre-bid meeting is scheduled for 2026-04-27 at 10:00 AM at the Finance & Accounts Division, State Life Insurance Corporation, Karachi. Bidders are advised to carefully follow the PPRA rules and submission guidelines, ensure all required documents including affidavits and declarations are attached, and submit bids before the deadline. A practical tip for bidders is to ensure their technical proposal clearly references supporting documents with page or flag numbers as required, and to register timely on the E-PADS system to avoid last-minute submission issues. This tender offers a significant opportunity for audit firms with experience in insurance sector audits and State Owned Enterprises to engage with Pakistan's largest life insurance corporation.