Request for proposal for audit services
Ascencio SA, a B-REIT under Belgian law, has decided to conduct a request for proposals (“RFP”) with a view to selecting an auditor to audit its consolidated and statutory accounts.
Ascencio has its mother company (Ascencio SA with SIR/GVV status) listed in Belgium ; this latter having (i) a Branch in France (with the SIIC status), itself owning 19 French subsidiaries (SCI also benefitting from the SIIC status) and (ii) a Spanish subsidiary (Ascencio Iberia with the Socimi status).
The accounting year of the companies within the perimeter of Ascencio group starts as of October 1st up to September 30th.
The current auditor, Deloitte, is coming to the end of its 18-year mandate after having audited the upcoming annual accounts of the Company as of 30/09/2024.
Considering Ascencio needs to appoint a new auditor as from October 1st 2024, we invite potential candidates for this mandate to take part in this RFP process.
1. SCOPE OF WORK
This RFP covers the following assignments :
1.1 Audit of the accounts
1.1.1. Audit and certification of the statutory and consolidated annual accounts of Ascencio SA for the financial years 2024/2025, 2025/2026 and 2026/2027 (including the review of the ESEF reporting)
1.1.2. Limited review of the consolidated half-yearly financial information of Ascencio SA at 31/03/2025, 31/03/2026 and 31/03/2027
The audit of the financial statements of Ascencio SA also includes :
a) Any report by the auditor to the FSMA in the context of the obligations imposed on B-REITs
b) Prior to and as part of the audit of the accounts, a review, information and assistance regarding the development, application and interpretation of IFRS
1.2. Other specific tasks provided for by law, such as
Interim dividends, capital increases through contributions in kind or the creation of new shares, public subscription offers, EMIR reporting, etc.
1.3 Audit of non-financial information according to CSRD requirements
Audit of the non-financial information to be published according to the upcoming CSRD requirements.
Assistance in the practical implementation of this new regulation and in the development of the required set of reporting.
2. SELECTION PROCESS
The selection process comprises the following stages :
2.1 Reception by Ascencio of the candidate proposals : at the latest on 25 July 2024
2.2 Meeting of the shortlisted candidates with the management : Second half of August 2024
2.3 Internal analysis of the selected candidates’ proposals : September 2024
2.4 Selection of the new audit firm by the Audit Committee : End of September 2024
Official appointment of the selected firm : AGM of 31 January 2025
3. CONTENT OF OFFERS
Candidates must provide the following information :
3.1 Qualification of the company
– Ability to carry out the tasks required of a company of Ascencio’s size, operating in several European countries (currently Belgium, France and Spain)
– Experience with listed companies
– Experience in the B-REIT sector
– Experience in relation to the real estate sector (excluding B-REIT)
– Experience of listed property companies in France (SIIC) and Spain (SOCIMI)
– FSMA approvals required
– Other services provided by your firm
3.2. Team in charge
– Name and geographical location of each member of the team who will be in charge of the work
– Experience in auditing B-REITs and listed companies and level of FSMA/IRE approval
3.3. Process and methodology
– Scope of work
– Timing and schedule of the work
– Coordination of participants (including IFRS/ESEF specialists)
– Methodology and tools used
– Process for communicating audit results
– Organization of the transition with the current auditor (Deloitte)
3.4. Fees
– Fees and expenses for the audit of the statutory and consolidated annual financial statements and for the audit of the consolidated half-yearly financial statements;
– Fees for specific assignments (hourly rates);
– Fees for the ESG audit.
4. INFORMATION ABOUT THE GROUP ASCENCIO
The 2023 annual report is available for consultation on our website : www.ascencio.be.
We are of course at your disposal for any information you may require in connection with this RFP.