DVC Audit report for e-GP (e-Government Procurement) through DVS Integration: Enhancing Transparency and Accountability

Author: Shibli zaman | January 1, 2025

In a significant move to enhance governance and accountability in Bangladesh’s public procurement, an MoU has been signed to integrate the e-GP (e-Government Procurement) system with the DVS (Document Verification System) by ICAB (Institute of Chartered Accountants of Bangladesh). This initiative mandates bidders and tenderers to submit a DVC (Document Verification Code) alongside their audit reports and certified audited financial statements during the bidding process. The DVC audit report for e-GP is crucial for verifying the authenticity of financial documents, ensuring greater transparency, and promoting compliance. This step strengthens trust in the procurement system by validating financial information and enhancing accountability throughout the process.

Why DVS Integration Matters

The DVS, developed by the Institute of Chartered Accountants of Bangladesh (ICAB), ensures the authenticity and validity of financial documents by assigning a unique DVC to each audited report. This integration with e-GP will:

1. Enhance Transparency: Prevent submission of falsified financial documents by bidders.
2. Promote Fair Competition: Ensure that all participants meet the required financial standards.
3. Streamline Verification: Allow procurement entities to verify the authenticity of submitted documents directly through the DVC.
4. Strengthen Governance: Reduce corruption risks and enhance accountability in public procurement.

Key Requirements for Bidders

Under this new framework:

• Submission of DVC: All bidders must include a valid DVC with their audit reports and financial statements during e-GP submissions.
• Authenticity Check: Procurement entities will use the DVS integrated portal to validate the provided financial data.
• Compliance Obligation: Non-compliance with the DVC requirement may lead to disqualification of tender.

Benefits of Integration: 

• For Government Entities:

• • • Improved trust in financial data submitted by bidders.
    • Reduced administrative workload in document verification.

• For Bidders:

• • A transparent and standardized process, reducing ambiguities in procurement submissions.

How SRCO Can Assist Bidders

S. Rahman & Co. (SRCO) is at the forefront of providing support to organizations navigating this integration. We offer:

1. Preparation of Audited Financial Statements: Ensuring compliance with requirements.
2. Audit Service with DVC: Provide audit service with valid DVC with audit and financial reports for tender submissions.
3. Advisory Services: Guiding bidders on e-GP compliance to avoid disqualification risks.
4. Training Programs: Educating finance teams on the importance and preparation of Financial Statements for public procurement.

Future Outlook

This MoU signifies a major leap forward in modernizing procurement processes in Bangladesh. By embedding DVS into e-GP, the government is paving the way for a more transparent, reliable, and efficient procurement ecosystem. For businesses, this is a call to enhance financial compliance and accountability to stay competitive in the public tender landscape.

If your organization needs assistance with DVC compliance or audit services, SRCO is here to help. Contact us today to ensure your readiness for the new procurement standards!

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