TERMS OF REFERENCE (TOR) – FOR EXTERNAL AUDIT OF Timran F…

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Category:
Consultancy and Training
Location:
Addis Ababa 
Salary:

Job Description

A. Background

 Timran is a non-partisan advocacy group for women’s participation in Ethiopian politics and public decision-making regardless of their political opinion or party affiliation. We come from different social, economic, and cultural background. We are just as different in our political opinions. Much more, we are Ethiopian citizens steadfastly united in our commitment, conviction, and sense of urgency to narrow the huge gender gap in our country’s political system. We are dedicated to contribute our share in our nation’s efforts to change the dominant political environment that is characterized by political gridlock, marginalization, injustice, violence, and rapidly growing ethnic conflict.

Our Vision : to see an Ethiopia in which women take their legitimate space in public decision-making and the nation’s political affairs. Our vision springs from a very strong belief that women’s utmost participation in politics and public decision-making, both to lead and contribute their fair share, will help bring about a different way of shaping public policy and building a peaceful, inclusive and prosperous nation.

Our mission: to work towards the enhancement of Ethiopian women’s active engagement in political and public leadership to ensure their constitutional right to equal participation in the nation’s political, social and economic undertakings. This we believe will contribute to building a just society based on gender equality and maintain peace and security of the nation.

TIMRAN’s work programme is implemented by its one substantive office. Accounting and financial management practices of TIMRAN are governed by the Financial Regulations and permanent Financial Procedures. Financial Statements of TIMRAN are prepared in accordance with the International Generally Accepted Accounting Principles and Agency for Civil Society Organizations (ACSO)

B. Audit Scope

  • These terms of reference address the requirement for external audit of financial statements of TIMRAN for the four fiscal years from July 1, 2020 to June 30, 2021.
  • A draft audit report should be submitted by 30 August and a final signed audit report with certified statements by 15 September and a management letter by 30 September of the period under review.
  • External Auditor will have to present the annual audit report to the TIMRAN Executive Committee as required to complete the engagement.
  • The audits should be carried out in accordance both both national and local auditing standards.
  • Sufficient audit evidence should be gathered to substantiate in all material respects the accuracy of financial statement.
  • The audit report of the auditors should state if the audit was not in conformity with any of the above and indicate the alternative standards or procedures followed.
  • The audit will be in accordance with new audit system

C.     The Audit Report and Management Letter

a. Audit Report

 The audit report should clearly indicate the auditor’s opinion. This would include at least the following:

The title, addressees, and an opening or introductory paragraph containing

 

a) Identification of the financial information audited including the period covered; and

 b)  Statement of the responsibility of the entity’s management and the responsibility of the auditor.

 A scope and methodology paragraph describing the nature of the audit referencing

  c) The accounting standards that have been applied and indicate the effect of any deviations from those standards;

 d)  The audit standards that were applied; and

e)    The work the auditor performed.

           An opinion paragraph disclosing 

a)    whether the financial statements and supporting schedules fairly present the cash receipts and expenditure in all material respects and that the funds were used for the purposes defined by the work programme/Donor;

 b)    whether the financial transactions reflected in the statements are in accordance with financial regulations and procedures, budgetary provisions and other applicable directives; and

 c)    Summary assessment of the efficiency of the management and internal control system.

 The auditor may expand the report to include other information and explanations not intended as a reservation. Audit reports will be provided in English.

  b.  Management Letter

The auditor should submit a letter to the management at the completion of the audit. The topics/issues to be covered in the letter should include:

  • It is an assessment of the efficiency of the administration, management and internal control system of TIMRAN.
  • A description of any specific internal control weaknesses noted in the financial management. Recommendations to resolve/eliminate the internal control weaknesses noted should be included.
  • Management comments/response to audit findings and recommendations

  D. Auditor Independence and Qualification

 The auditor must be completely impartial and independent from all aspects of management or financial interests in the entity being audited. The auditor should not, during the period covered by the audit nor during the undertaking of the audit, be employed by, serve as director for, or have any financial or close business relationships with any senior participant in the management of TIMRAN. The auditor should disclose any relationship that might possibly compromise his/her independence.

 The auditor should be experienced in applying whichever is applicable for the audit. The auditor must employ adequate staff with appropriate professional qualifications and suitable experience with standards, including experience in auditing the accounts of entities comparable in size and operation type to TIMRAN.

 Curriculum vitae (CVs) should be provided to TIMRAN by the principal of the audit institution who would be responsible for signing the opinion, together with the CVs of managers, supervisors and key personnel proposed as part of the audit team. CVs should include details on audits carried out by the applicable staff, including ongoing assignments indicating capability and capacity to undertake the audit and experience in auditing financial statements compliant with the International Public Sector Accounting Standards.

E. Access to Facilities and Documents

The financial systems are automated in Peachtree Accounting system and partly MSc. Excell Format. All financial records are kept at the Office. The auditor will have full and complete access at any time to all records and documents (including books of account, legal agreements, minutes of committee meetings, bank records, invoices and contracts etc.) and all employees of the entity. The auditor will have a right of access to banks and depositories, consultants, contractors and other persons or firms engaged by the program management over the period under the audit review.

 TIMRAN shall provide the auditor with all the necessary documentation to perform the assignment properly; including but not limited to the following information shall be provided to the auditors before the beginning of the assignment:

 A) Project agreements; 

B) Annual progress report; 

C) Financial Management Manual; 

D) Organizational charts along with names and titles of senior managers; 

E) Names and qualifications of officers responsible for financial management, accounting and internal audit.

F) Project design documents, annual work programme and budget

H) Copies of the relevant minutes

F. Summaries of Files and Donors

  • TIMRAN Has a July to June Facial Year,
  • The Audit Review Starts at July 1,2020 and Ends June 30,2021 (One Year)
  • Total Number of Financial Box Files 1(one)
  • Aggregated Total Auditable Expense are 394,909.44 Ethiopia

Job Requirements

Qualified Audit Firms are required to submit sealed technical and financial proposal and should fulfill the following legal criteria.

  1.  Curriculum vitae (CVs)
  2. A renewed professional license from the Audit General
  3. Value added tax certificate and tax identification number
  4. Experience  documents that certify performance of similar tasks basically in relation with NGOs

How to Apply

Interested and competent bidders are invited to send their quotations of prices and time of completion of Auditing financial documents of one files box as well as credential/Proposals no later than Monday July 28, 2021 5:00 PM to the following address.

Our office Address, Afomy Building, Bole Subcity, Woreda 3, House no 4C

Telephone: 0912375041 or 0911411436

TIMRAN’s email: [email protected] and [email protected]

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