މޯލްޑިވްސް އިންލަންޑް ރެވެނިއު އޮތޯރިޓީ
Invitation for Proposals to Conduct a Training Programme on International Standards on Auditing

Invitation for Proposals to Conduct a Training Programme on

International Standards on Auditing

We are re-opening the submission for the proposal on “International Standards on Auditing” Training, as we have not received enough proposals for the advertisement of this Authority’s no (IUL)220-AS/1/2017/99, dated on 05 November 2017.

The Maldives Inland Revenue Authority (MIRA), in its effort to build an efficient team of auditors who are proficient and well versed with the relevant professional standards, wishes to conduct a training program on International Standards on Auditing (“ISA”).

MIRA invites interested parties to submit proposals to conduct a training program on “ISA” in Malé.

The programme should cover, but need not be limited to, the following:



ISA 200

Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing 


ISA 210

Agreeing the Terms of Audit Engagements 


ISA 220

Quality Control for an Audit of Financial Statements


ISA 230

Audit Documentation 


ISA 240

The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements 


ISA 250

Consideration of Laws and Regulations in an Audit of Financial Statements 


ISA 260

Communication with Those Charged with Governance 


ISA 265

Communicating Deficiencies in Internal Control to Those Charged with Governance and Management


ISA 300

Planning an Audit of Financial Statements 


ISA 315

Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment


ISA 320

Materiality in Planning and Performing an Audit 


ISA 330

The Auditor's Responses to Assessed Risks 


ISA 402

Audit Considerations Relating to an Entity Using a Service Organization 


ISA 450

Evaluation of Misstatements Identified during the Audit 


ISA 500

Audit Evidence 


ISA 501

Audit Evidence-Specific Considerations for Selected Items 


ISA 505

External Confirmations 


ISA 510

Initial Audit Engagements-Opening Balances 


ISA 520

Analytical Procedures 


ISA 530

Audit Sampling 


ISA 540

Auditing Accounting Estimates Including Fair Value Accounting Estimates and Related Disclosures.


ISA 550

Related Parties 


ISA 560

Subsequent Events 


ISA 570

Going Concern


ISA 580

Written Representations 


ISA 600

Special Considerations-Audits of Group Financial Statements (Including the Work of Component Auditors)  


ISA 610

Using the Work of Internal Auditors 


ISA 620

Using the Work of an Auditor's Expert


ISA 700

Forming an Opinion and Reporting on Financial Statements


ISA 705

Modifications to the Opinion in the Independent Auditor's Report


ISA 706

Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report


ISA 710

Comparative Information - Corresponding Figures and Comparative Financial Statements


ISA 720

The Auditor's Responsibilities Relating to Other Information in Documents Containing Audited Financial Statements

1. ISRE 2400 (Engagements to Review Financial Statements) and its practical application.

2. ISAE 3000 (Assurance Engagements Other Than Audits or Reviews of Historical Financial Information) and its practical application.

3. ISRS 4400 (Engagements to Perform Agreed-Upon Procedures Regarding Financial Information) and its practical application.

4. Brief overview of proposed changes to existing ISA’s and proposed new standards.

5. IFRS 9 – Financial Instruments, effective on 1st Jan 2018

6. IFRS 15 – Revenue from Contracts with Customers, effective on 1st Jan 2018

7. IFRS 16 – Leases, effective on 1st Jan 2019

 I. Target Audience

The program is targeted to train 50-60 staff. Most of the participants are ACCA trainees and some are ACCA Affiliates and Members.

 II. Duration

The program shall be designed to be delivered within 10 days and is expected to start on February 2018. Classes will be held from 03 to 13 February 2018 as follows.

- Sunday to Thursday: 13:30 to 18:00

- Saturday: 09:30 – 17:15 (Lunch break from 12:00 to 13:00)

III. Responsibilities of the Resource Person

The resource person shall:

1. Develop course materials, including handouts, reading material, exercises and case studies that fully cover the areas outlined above.

2. Deliver the course materials (Soft and hard copy) to MIRA 7 days prior to the commencement of the program.

3. Deliver the training sessions. (Training sessions shall be designed in such a way that the practical application component shall constitute at least 75% of the time allocated for each standard.)

4. Interact with participants during the training sessions to encourage participation and provide guidance on questions that are raised.

 IV. Qualifications and Experiences of the Resource Person

The resource person shall:

1. Have recognized academic or professional accounting qualifications.

2. Have experience in a senior post which requires the application of, or consultancy work related to, IFRS. (Preference will be given to those with experience in tax-related posts.)

3. Have conducted similar training programs for other institutions.

 V. Evaluation Criteria

1. Course content and design – 30%

2. Qualifications and experience of resource person – 30%

3. Fee – 40% (In the case of foreign resource persons, costs associated with travel, lodging and food shall be borne by the resource person and accounted for in the fee quoted.)

You may nominate more than one resource person to conduct the program, in which case you must specify the sessions which will be conducted by each person.

MIRA will facilitate the necessary printing requirements of the resource person and provide the training classroom, projectors and other programme-related administrative arrangements.

For further details or queries, please contact Ms. Aishath Nashfa at (+960) 3339593 from Sunday to Thursday between 08:30 and 16:30 hrs or email to nashfa.a1@mira.gov.mv.

All interested parties should submit proposals in person, in sealed envelopes marked “Proposal to Conduct a Training Programme on International Financial Reporting Standards” to the address below at 15:00 hrs on Wednesday, 22 November 2017. The proposal should include a detailed outline of the course content, methods of delivery (lectures, discussions, case studies, exercises, etc.), CVs of the resource persons and fee breakdown.

Maldives Inland Revenue Authority,

Ameenee Magu, (2nd Floor),

Male’ 20379,


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