Objectives and Scope of the Audit
The auditors shall express an independent professional opinion as to whether the financial statements present fairly, in all material respects, the financial position of Finn Church Aid in accordance with the International Financial Reporting Standards.
The audit shall be carried out in accordance with the International Standards on Auditing (ISAs) as issued by the International Federation of Accountants (IFAC). The auditors in their duties shall comply with the duties imposed upon them by the Audits Professions Act.
Management letter-The Auditors should submit a management letter after the completion of the audit in which auditors will:
Identify specific deficiencies or areas of weakness in systems and controls, and make recommendations for their improvement;
Examine on test basis that appropriateness of supporting documents, records and books of accounts relating to all project activities;
Include management responses to audit findings and recommendations;
Any matters that come to the auditor’s attention during the audit that might have a significant impact to the implementation of the programme.
Examine, assess and report on compliance with the terms and conditions of the agreement between funding partners and Finn Church Aid Kenya and applicable laws and regulations within accounting and taxes;
The auditor shall report the identified amount in case there are any missing supporting documents;
Any matters that come to the auditor’s attention during the audit that might have a significant impact to the implementation of the programme.
If Finn Church Aid Kenya channels funds to other organisations, the auditor shall examine if Finn Church has followed funding partners audit requirements in the next step and have satisfying routines/resources for acting on received audit reports from these organisations.
The audit reports shall:
Contain details of the method and scope of audit and assurance that the audit was performed in accordance with International Standards of Auditing and by a qualified auditor.
Signed by the auditor responsible stating the title.
Written in English and include the following;
Programme/Project number and name
Implementing organisation
Date of the cooperation agreement
Reporting period and currency
Exchange rate used in the Financial Programme/Project Report
Total amount of budgeted income and expenditures (including balance from previous year)
Total amount of actual income and expenditures (including balance from previous year)
Closing balance (including cash, bank and other assets like advance payments and outstanding checks)
Auditor’s name, position, address, phone, fax and e-mail
Requirements;
Authorization by the State Board of Accountants (ICPAK) to conduct audits.
Experience of your firm in relation to the scope of audits for non-Profit organization.
A list of similar international non-profit organizations served by your firm.
Your staff assignments and availability to complete the audit on a timely basis.
Participation of senior audit personnel assigned to the engagement.
Depth of Technical Resources (CV of the assigned team leader).
Availability of staff to respond to questions within the scope of the engagement and the hourly charge, if any, for services outside the scope of the audit.
Audit firm staff stability history – what assurances can you provide regarding the assignment of your permanent personnel to the engagement.
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 for the second and third years
Detailed audit plan/methodology including your approach to risk and fraud detection.
Estimated number of hours to complete the audit by classification of your employees, i.e. partners, senior, junior.
Only shortlisted audit firms will be contacted. Please note that this advert contains full Terms of Reference, hence no further tender documents are available. Finn Church Aid Kenya Reserves the Right to reject any or all proposals submitted.
Deadline for submission 31st October 2017 by COB

Applicants should send CV to recruitment.esaro@kua.fi

Apply via :

recruitment.esaro@kua.fi