Internal audit services

Tender description

The aim of the procurement is that Innovation Norway shall have auditing services — both statutory audits and internal audits. The procurement does not include consultancy services for tax and duties. The procurement is divided into two parts that will be evaluated separately: Part 1 — statutory audits Part 2 — internal audits It is important that tenderers clearly state whether the tender is for part 1, part 2, or both. The mentioned auditing services have different roles and purposes and independence in the auditor role is a basic principle, cf. the Auditor Act, chapter 4. If the same tenderer submits the best tender in both competitions, the tenderer must formally withdraw from one competition and number two will be awarded the contract. Information specific for Innovation Norway The Act on Innovation Norway states that Innovation Norway shall comply with the Accounting Act. Innovation Norway has a gross loan portfolio of more than NOK 17 billion. Innovation Norway is not under the Financial Supervisory Authority of Norway, but the accounting set-up complies with the Regulations on annual accounts etc. for banks, financing companies and parent companies as far as possible. Innovation Norway has 7 sub-accounts with different rules for equity and allocation of profits. Profit from loans give dividend/is transferred to the owners, the distribution is laid down in the owner contract between the Ministry of Trade, Industry and Fisheries and the counties. Innovation Norway is exempted from tax, c.f. the Tax Act § 2-30(1) letter e no. 4. Innovation Norway is registered for VAT in Norway, as well as in 9 other countries in Europe. Innovation Norway uses the method document ‘Risk Management in the Government’ as a basis for its risk assessment and management. The working language in Innovation Norway is Norwegian. In addition, English is used for communicating with local employees. The economy function for the foreign offices is mostly centralised and further centralisation is planned. The foreign offices' accounting enclosures are in a number of local languages. Economy/finance in Innovation Norway is looking for employees who speak several languages. Innovation Norway's annual accounts are normally discussed by the Board in February — March. The annual audit settlement in Innovation Norway normally takes place in the period weeks 5 — 8.