Germany – Statutory audit services – Statutory Audit of the ECB’s Annual Accounts, Compliance Checks Regarding Private Financial Activities and Actuarial Services for the ECB’s Pension Arrangements for the Financial Years 2025-2031

The tasks to be performed by the External Auditor are based on the International Standards on Auditing (ISAs) and the IESBA Code of Ethics for professional accountants (formerly IFAC Code of Ethics) and comprise the following audit deliverables for each financial year to be audited: 1. annual audit of the ECB’s annual accounts; 2. annual audit of the financial statements of the ECB's staff pension funds; 3. annual review of SSM related income and expenditure; 4. annual monetary income review; 5. annual review of tax withheld; 6. annual management letter. The services are expected to comprise the financial years 2025, 2026, 2027, 2028, 2029, 2030 and 2031, based on an extension clause after 5 (five) years duration which may be triggered in 2029.

The PFA contractor shall perform regular and ad hoc compliance checks of the private financial activities (PFA) of ECB staff members with a view to compliance of ECB members of staff with the requirements on PFA set out in Article 0.4 of the ECB Staff Rules for the financial years 2025 until and including 2029, with a possibility of extending the contract to 2031. Subject to the revision of the rules on PFA and PFA compliance checks, the scope of services or works to be performed may comprise the following deliverables with respective completion dates for each financial year: 1. regular compliance check of ECB staff members’ PFA; 2. ad hoc compliance check of ECB staff members' PFA. The Services are expected to comprise the financial years 2025, 2026, 2027, 2028, 2029, and based on an extension clause after 5 (five) years duration which may be triggered in 2029, may include the years 2030 and 2031.

Actuarial Services for the ECB’s pension arrangements: The tasks to be performed by the actuarial contractor under the scope of this lot are as follows: (i) annual actuarial valuation of the assets and liabilities of the ECB’s pension arrangements, board benefits, other post-employment and other long-term benefits on the basis of IAS19, for the annual accounts of the ECB included in the ECB’s Annual Report and for the annual report and accounts of the ECB’s pension arrangements; and the issuing of an actuarial statement for the annual report and accounts of the ECB’s pension arrangements on the basis of IAS26 (a sample of ECB data requirements is provided in Annex 3); (ii) a triennial funding valuation of the ECB’s pension arrangements, in line with Article 6.8 of the Rules of the ECB Retirement Plan and Article 22 of the ECB pension scheme. The next funding valuation is foreseen to be performed based on 2027 data. The ECB may request further funding valuations of the ECB’s Pension arrangements during the contract duration; (iii) checks of individual benefit calculations and related documentation; (iv) actuarial advice at the request of the Director General of Human Resources or the administrator of the ECB’s pension arrangements. The services are expected to comprise the financial years 2025, 2026, 2027, 2028, 2029, 2030 and 2031, based on an extension clause after 5 (five) years duration which may be triggered in 2029.