We would like to engage a reputable audit firm to carry-out the project audit for the period of six months, (November 2020 to April 2021).
OBJECTIVE OF THE AUDIT
The audit shall give an opinion on the financial statement, in particular whether it represents a true and fair view of revenue and expenditure in agreement with the conditions laid down in the donor regulations and the specific grant agreement.
The donor regulations regarding audits include but are not limited to:
Verification of revenue (received) and expenditure incurred (paid) on a Cash Accounting Basis according to FIFO.
Verification of timely spending of funds (as specified in the grant agreement, e.g. 4 months spending period)
Verification and presentation of expenditure in spending currencies versus EURO and all related exchange processes
To make observations to determine whether the grant recipient has satisfied in every substantive respect the conditions laid down in the grant agreement. Any substantive matters which do not meet the conditions and any indications of unlawful acts must be identified. Such observations should also include the requirements relating to any contribution by the grant recipient.
METHODOLOGY AND APPROACH
The Auditor will work mainly at Climate Action network Tanzania. The auditors may make field trips to the respective target sites/beneficiaries when needed. The Auditor should be available to provide comments on donor questions after submission of the final report.
The Auditor should examine the financial statement on the basis of the audit plan and verify its compliance with the grant and donor conditions in order to issue an auditor’s report. The auditor should request a letter of representation from the grant recipient’s management stating that, to the best of its knowledge, the financial statement encompasses all transactions and receipts, is accurate and complete in every respect and that all grant conditions have been met.
The Auditor should ensure that the audit file contains sufficient documents of an appropriate and relevant nature and should record the audit procedures used and the results obtained in the file. If the grant recipient has contracted out some of the activities covered by the grant, the auditor should establish whether checks have been made regarding the implementation of these activities and associated charges.
The steps listed in this document are not exhaustive or restrictive and may not impose any limitations on the auditor’s professional judgement. Any restrictions on the scope of the audit should be mentioned in the auditor’s report.
SCOPE OF WORK
The auditor shall produce a draft report, including a project expenditure report in the donor format, and a Management Letter outlining any finding in detail. Upon completion of the audit (i.e. after responding to the potential donor or organisation comments), the auditor shall produce five originals of the final audit report in English.
The auditor should draw up an audit plan which should include an examination of the organisation’s administrative and internal control structure, an analytical review and a substantive investigation, including verification of compliance with all grant conditions.
Eligible Audit firm should meet the following criteria:
Compliance with legal requirements of registration
Experience of the audit firm with audit reporting under International Financial Reporting standards (IFRS) and International Standards on Auditing (ISA)
Provide Audit Methodology, Curriculum Vitae for the partner, manager and key staff proposed for the audit team
The Auditor firm has to be member and /or registered to an internationally-recognised supervisory body for statutory auditing, and shall provide documentary evidence to this
Any actual or potential conflict of interest in taking up this role should be highlighted.
REVIEW AND AUDIT FILES
CLIMATE ACTION NETWORK TANZANIA reserves all the right to review the audit. The auditor concerned should assist this review and supply the reviewer with all relevant documents relating to the audit.
The audit firm must keep an orderly and accessible audit file. It should keep the files for a period of seven years from the date of the submission of the audit report to the donor.
The audit shall start on second week of May at the Climate Action Network Tanzania Head Quarter Office.
The draft audit report and the management letter shall be forwarded to (Climate Action Network Tanzania Head Quarter Office) on or before 20th May 2021.
The final audit report and accompanying information will be submitted directly to (CAN Tanzania Head Quarters) on or before 25th May 2021.
- The proposal should be addressed to:
Climate Action Network Tanzania,
Dar Es Salaam, Tanzania
- Mode of submission: ONLY electronically submitted proposals will be accepted.
- It should be submitted to the following email: email@example.com
- The deadline for submission of the proposal is: 10th May 2021 at/or before 6:00 hours East African time.
- Only shortlisted consultancy firms will be invited to present themselves for interview at CAN Tanzania offices at a date to be communicated.