The Department of Foreign Affairs, Trade and Development (DFATD) has identified a requirement for a multi-scope audit on financial documents related to the management of Public Private Partnership (P3) type arrangement under which a developer built the current Embassy of Canada in Berlin. The P3-type, complex arrangement is set out in a “Heritable Building Right Agreement” (HBRA) and related contracts, which were signed in 2005 and through which the Canadian Embassy is currently operated. The Work will be for a period of twenty (20) weeks.
Canada occupies roughly half of the main building (the Chancery portion), and the Holder of the HBRA rents the remaining space, which is then sublet to commercial and residential tenants.
Canada is mandated to provide for audit services to verify the status of the financial arrangements supporting the Agreement every 5 years during the period of the HBRA.
DFATD requires, relative to the Holder’s operation, the following:
a) a full scope audit of the financial statements for the last 19 years, and
b) a restructuration of the historical financial evolution/actual performance of the rents based on the Developer’s financial reports/statement since 2005.
