Invitation for Bids
Title: EAWiBP invites bids from reputable Audit firms for the provision of auditing services.
EAWiBP received a grant of USD 450,000 from the Enhanced Integrated Framework to fund the project “Generating increased pricing and new markets for the women engaged in the shea butter value chains of South Sudan and Uganda.” EAWiBP is the main implementing partner and is partnering with Uganda Women Entrepreneurs Association Limited (UWEAL) and South Sudan Women Entrepreneurs Association (SSWEA) as the national implementing partners. EAWiBP is therefore seeking the services of a qualified audit firm to conduct an audit for this project for the period from 1st August 2020 to 30th June 2023. Interested eligible Bidders may obtain further information from the attached document.
Date of Issue
6TH June, 2023
Contract Title
Audit of Financial statements for EAWiBP- EIF Project
Closing Date for receiving quotation and time
30th June 2023 at 5:00 pm (East African Time)
Expected date of delivery
31st August, 2023
Contracting Authority
East African Women in Business Platform (EAWiBP)
Term of Reference for Audit of the Financial Statements
East African Women in Business Platform (EAWIBP)
[Tanzania]
Introduction
EAWiBP is a forum that brings together businesswomen from across the East African Community (EAC). Its membership and board comprise of; national apex bodies/associations/networks of businesswomen (including associations of women formal and informal cross-border traders); professional women associations; and civil society organizations working to promote businesswomen and women’s socio-economic advancement.
EAWiBP received a grant of USD 450,000 from the Enhanced Integrated Framework to fund the project “Generating increased pricing and new markets for the women engaged in the shea butter value chains of South Sudan and Uganda.” EAWiBP is the main implementing partner and is partnering with Uganda Women Entrepreneurs Association Limited (UWEAL) and South Sudan Women Entrepreneurs Association (SSWEA) as the national implementing partners. EAWiBP is therefore seeking the services of a qualified audit firm to conduct an audit for this project for the period from 1st August 2020 to 30th June 2023.
Brief Project Background
EAWiBP in partnership with UWEAL and SSWEA are implementing a 2-year project titled “Generating increased pricing and new markets for the women engaged in the shea butter value chains of South Sudan and Uganda” The project will increase the participation of 7,400 women and men in the shea butter value chains of Uganda and South Sudan, resulting in improved product quality, new markets, increased exports, increased prices, increased foreign exchange earnings and increased participant incomes. The project will also result in the provision of decent work along with an improved means of earning a livelihood for participants.
The overall project objective is to increase women’s effective participation in the shea value chains. The specific objectives of the project are; to improve the quality of production to international standards; to increase the value of exports generated and to conserve shea trees in the 24 targeted districts. Participants will be able to engage in the full value chain and gain access to improved pricing at both the post-harvest and post shea butter extraction level.
Audit Objective
The objective of the audit of the project financial statements is to enable the auditor to express a professional opinion on the above project’s financial statement for the accounting period specified above. The project’s books of account provide the basis for preparation of the financial statements and are established to reflect the financial transactions in respect of the project.
Responsibility for preparation of financial statements
The responsibility for the preparation of financial statements, including adequate disclosure, is that of the project’s management. This includes the maintenance of adequate accounting records and internal controls, the selection and application of accounting policies, and the safeguarding of the assets of the project.
Scope
The audit will be conducted in accordance with International Standards on Auditing or other standards acceptable to UNOPS such as International Standards of Supreme Audit Institutions. Those Standards require that the auditor plans and performs the audit to obtain reasonable assurances about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidences supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.
In complying with International Standards on Auditing, the auditor is expected to pay particular attention to the following matters:
In evidencing compliance with agreed project financing arrangements the auditor is expected to carry out tests to confirm that:
Project Financial Statements
The auditor should verify that the financial statements have been prepared in accordance with the MOU signed between EAWiBP and UNOPS, and relevant government rules and regulations.
Review of Annual Financial Statements and Interim Un-audited Financial Statements
The auditor is required to review all periodic Financial Reports submitted to UNOPS. Expenditures should be examined for eligibility based on the details in the Project Document and the MoU.
Review of bank Accounts
During the audit of the project financial statements, the auditor is required to review the activities of the project’s bank account(s). Activities to be examined will include deposits received, payments made, interest earned and reconciliation of period-end balances.
Audit Reports
The auditor will issue a:
Consequence, and Corrective action and due date for implementation
The auditor’s opinion on the financial statements and management letter should be received by EAWiBP by 31st August 2023.
Exit conference
Upon completion of the field work, the auditor shall hold a closing or exit conference with senior project management. The exit conference will give the auditor an opportunity to obtain management comments on the accuracy and completeness of the auditor’s facts or conclusions, including whether or not management concur with the audit findings. The auditor will document the minutes of the exit conference for inclusion in the audit work papers.
Auditor qualification
In order to be a qualifying firm, it is envisaged that the firm will meet the following qualification requirements:
General
The auditor is entitled to unlimited access to and should consult all information and explanations considered necessary to facilitate the audit including legal documents, project preparation and supervision reports, particularly recommendations of TFM missions on fiduciary issues, reports of reviews and investigations, correspondences, and bank account(s) information. The auditor may also seek written confirmation of amounts disbursed by UNOPS.
The auditor is encouraged to meet and discuss audit related matters including input to the audit plan with the project finance team and relevant finance team in the line ministry.