Scope of Work
The Expenditure Verifier shall undertake this engagement in accordance with:
International Standard on Related Services (ISRS) 4400 (Revised) – Engagements to Perform Agreed-upon Procedures regarding Financial Information as issued by IFAC.
The IFAC Code of Ethics for Professional Accountants, emphasizing integrity, objectivity, independence, professional competence, due care, confidentiality, professional behavior, and technical standards.
Objectives
The Expenditure Verifier is expected to:
Execute agreed-upon procedures for all expenses.
Issue reports supporting Practical Action’s conclusions on expenditure eligibility and related follow-up.
The exercise will be conducted as a desktop review with travel when necessary.
Procedures
The Expenditure Verifier’s procedures should include:
Understanding the engagement context, contractual conditions, and the donor’s rules.
Assessment of risk factors associated with expenditure and revenue.
Examination of financial and non-financial evidence.
Review of all the expenses within the period under review
Identification of findings, facts, and analysis to support conclusions
Reporting
The Expenditure Verification Report will:
Provide information about the assignment and a risk analysis overview.
Detail the outcome of substantive testing and findings identified through the agreed upon procedures.
Develop and share the Expenditure Verification Report template, including factual findings, standard practice, impact of noncompliance and recommendations, regardless of the amount involved.
Requirements for the Expenditure Verifier
The selected Expenditure Verifier should meet the following criteria:
Membership in ICPAK and in good standing.
Over 10 years of experience in similar assignments with reputable firms or entities.
Immediate availability for the assignment.
Full-time commitment for the agreed-upon period
Consultant Evaluation Criteria
Consultant bids will be evaluated based on the following criteria and scores:
Technical capacity (Qualifications, experience) – 70 points
Budget – 20 points
Workplan/Timelines – 10 points
Interested independent consultants that have the capacity to deliver this TOR are invited to submit a complete proposal to recruitment@practicalaction.or.ke with subject line “Project Expenditure Verification” to reach Practical Action on or before 10th November 2023. All information/data given will be in the strictest confidence and will only be used for recruitment purposesRequirements for the Expenditure Verifier:The selected Expenditure Verifier should meet the following criteria:
Apply via :
recruitment@practicalaction.or.ke
