INVITATION FOR QUOTE -FINANCIAL STATEMENT AUDIT FOR UGANDA AND TANZANIA FOR THE YEAR 2022

INVITATION FOR QUOTE -FINANCIAL STATEMENT AUDIT FOR UGANDA AND TANZANIA FOR THE YEAR 2022

13/01/2023
in News

TERMS OF REFERENCE (TOR) FOR THE EXTERNAL AUDIT FOR THE YEAR ENDING DECEMBER 31, 2022

Objective of the Audit

  • The objective of the Audit of Rikolto Uganda and Tanzania financial statements is to enable the auditors to express an independent professional opinion on the financial position of the Programme and to ensure that the funds utilized to Rikolto Uganda and Rikolto Tanzania activities have been used for their intended purposes.

  • The books of accounts of the Programme provide the basis for the preparation of the Rikolto Uganda and Rikolto Tanzania Financial Statements. Proper books of accounts have been maintained by the Programme, which also maintains adequate internal controls and supporting documentation for transactions.

Scope of the Audit

  • The Audit will be carried out in accordance with the International Auditing Standards and will include tests and verification procedures as the auditors deem necessary (ie International Public Sector Accounting Standards).

  • Verify all funds have been used in accordance with the established rules and regulations of the Programme and only for the purposes for which the funds were provided.

  • Goods and services financed have been procured in accordance with the Programme’s established rules and procedures.

  • Appropriate supporting documents, records and books of accounts relating to all activities have been kept. Clear linkages should exist between the books of accounts and the financial statements presented.

  • The financial statements have been prepared by the Programme management in accordance with applicable accounting standards and give a true and fair view of the financial position of the Programme and of its receipts and expenditures for the period ended on that date.

  • Comprehensive assessment of the adequacy and effectiveness of the accounting and overall internal control system to monitor expenditures and other financial transactions.

  • Express an opinion as to the reasonableness of the financial statements in all material respects.

  • Include in their reports opinion on compliance with procedures designed to provide reasonable assurance of detecting misstatements due to errors or fraud that are material in the financial statements.

  • Conduct entry and exit meetings with the Programme Management.

  • In addition to the audit report, the auditors will prepare a Management Letter on the following:

a) Give comments and observations on the accounting records, procedures, systems and controls that were examined during the course of the audit. b) Identify specific deficiencies and areas of weakness in systems and controls and make recommendations for improvement. c) Report on the implementation status of recommendations pertaining to previous period audit reports. d) Communicate matters that have come to their attention during the audit which might have a significant impact on the sustainability of the Programme. e) Bring to the Executive Management’s attention of any other matters that the auditors consider pertinent.

Audit Duration

The assignment will take one week, and audit work shall commence on 10th April 2023

Expected Deliverables

  • The Auditors on completion of the audit work will submit 3 (three) original copies of the Audit Report appended to the Financial Statements along with the reports to the attention of the Uganda Country Representative and Tanzania Country Representative.

  • Management Letter in accordance with the scope of work described here before. The Management Letter should identify any area of improvement which may enhance the Programme’s accounting and administration, as well as outline Auditor’s suggestions and concerns

Qualification of the Audit Firm

The audit firms should be registered with the Institute of Certified Public Accountants Uganda for Uganda assignments and National Board of Accountants and Auditors for Tanzania assignments and have a working experience with donor-funded organizations/NGOs

Selection Criteria

Audit firms invited to apply should apply by giving the following information:

  • Evidence that they are registered and authorized to undertake the audit by the Institute of Certified Public Accountants Uganda (ICPAU) for the Uganda assignment and the National Board of Accountants and Auditors (NBAA) for Tanzania assignment

  • Profile of the firm including personnel and their qualifications

  • Details of recent undertakings with International Organizations (s)/donor-funded NGOs.

  • Proposed fee for the engagement including a schedule for additional services that may be necessary beyond the scope of the audit engagement. The proposal should indicate anticipated fees

  • Detailed audit plan/methodology including your approach to risk and fraud detection

  • Estimated time required to complete the audit by classification of your employees

  • A commitment statement of availability to start the auditing process from 10th April 2023.

Application details

Please submit your offer through Rikolto email: eastafrica.recruitment [at] rikolto.org by 31st January 2023.

NB. The Programme reserves the right to accept the bidder who meets the criteria provided and is not necessarily obliged to accept the lowest bidder.