REQUEST FOR EXPRESSION OF INTEREST (REOI) FOR EXTERNAL AUDIT SERVICES

BACKGROUND 

Masters Finance Limited is a Malawian owned deposit-taking microfinance institution registered under the Companies Act 2013 and regulated by the Reserve Bank of Malawi. The company was founded to promote financial inclusion and economic empowerment by providing innovative, accessible, and sustainable financial services to economically active individuals, small businesses, and low-income groups across the country.  

REQUEST FOR EXPRESSIONS OF INTEREST 

Masters Finance Limited requires the services of a reputable external audit firm to carry out the annual audit and issue audit reports of its financial statements for the year ending 31 December 2026 and for the next four (4) years from 2027-2030 (A maximum of five years in total).  Suitably qualified audit firms are therefore invited to submit Expressions of Interest (EOI) which should include; 

• The relevant experience and expertise of the firm in conducting audits for microfinance institutions. 

• Audit approach and methodology. 

• Identification of prospective audit partner and manager for the assignment and detail their experience and qualifications. 

• Firm’s references of relevant audit and/or advisory services carried out in the past 3 years of microfinance institutions. 

• Expected audit fees for each year from 2026 to 2030. 

MANDATORY REQUIREMENTS  

• The firm must be duly registered under the Public Accountants and Public Auditors Act to provide audit services. 

• Partners and lead audit managers must be members of the Institute of Chartered Accountants in Malawi (ICAM) and the Institute of Internal Auditors of Malawi (IIA Malawi) and be in good standing. 

• The firm must be registered with the Malawi Accountants Board (MAB). 

• Valid practicing certificates for each partner. 

• A valid Tax Clearance Certificate from the Malawi Revenue Authority (MRA). 

EXPRESSION OF INTEREST SUBMISSION 

Completed copies of proposals in one sealed outer envelope clearly marked “EXPRESSION OF INTEREST FOR PROVISION OF EXTERNAL AUDITING SERVICES” and the outer envelope shall contain two separate envelopes one marked “Technical Proposal for Provision of External Auditing Services” and the other one marked “Financial Proposal for Provision of External Auditing Services” and must be submitted to Masters Finance Limited at the address indicated below by or before 14:00hrs on Friday 31^st July 2026. 

The Chairperson 

Board Audit Committee 

Masters Finance Limited, 

P.O. Box 2117, Lilongwe. 

E-mail: info@mastersfinance.co.mw