Hiring of Chartered Accountancy Firm for External Audit of Pakistan Institute of Fashion and Design for FY-2025-26

The Pakistan Institute of Fashion and Design (PIFD) in Lahore, Punjab, invites bids for the hiring of a Chartered Accountancy firm to conduct the external audit for the financial year 2025-26. This procurement is planned for FY 2026-27 and will be conducted through the e-Pak Acquisition and Disposal System (EPADS) v2.0 using a Single Stage Two Envelope procedure with Quality and Cost Based Selection (QCBS) technique. Items being procured: - External Audit of all Financial Statements for FY 2025-26 The scope includes conducting the annual statutory audit in accordance with International Accounting Standards (IAS), International Financial Reporting Standards (IFRS), and issuance of the audit report as per International Standards on Auditing (ISA) and applicable laws. The contract duration is initially one year with possible extensions up to two additional years, with service charges subject to revision by mutual consent. The audit firm will be responsible for all expenses related to service delivery including accommodation and meals. The maximum delivery period is 3 months, with a penalty of 2% per day up to 10 days for delays. Eligibility criteria require firms to be on the State Bank of Pakistan Panel of Approved Auditors in Category 'A', possess a practicing license as per Companies Act 2017, and meet other financial and experience qualifications. Bidders must submit a bid security in the form of a Call Deposit Receipt (CDR) and comply with all documentation requirements including tax registrations and affidavits. Bids must be submitted online via EPADS v2.0 by 11:00 AM on August 25, 2026, with bid opening at 11:30 AM the same day. Manual submissions are not accepted. The procuring agency's office is located at 51 J-III, Johar Town, Lahore. Interested bidders should ensure timely registration on EPADS and prepare bids in accordance with the detailed instructions and forms provided. A practical tip for bidders: Ensure all required documents including bid security originals are submitted timely and bids are uploaded correctly on EPADS to avoid disqualification. Familiarize yourself with the EPADS portal and attend any pre-bid clarifications to enhance bid responsiveness. This tender offers a significant opportunity for qualified audit firms to engage with a prestigious institute in Lahore and contribute to transparent financial governance.