External Financial Audit Tender in Lebanon - 42081152

Procurement Summary

Country: Lebanon

Summary: External Financial Audit

Deadline: 11 Apr 2020

Posting Date: 09 Apr 2020

Other Information

Notice Type: Tender

TOT Ref.No.: 42081152

Document Ref. No.:

Competition: ICB

Financier: West African Development Bank (BOAD)

Purchaser Ownership: -

Tender Value: Refer Document

CPV Classification

79212000 - Auditing services

Purchaser's Detail

Name: Login to see tender_details

Address: Login to see tender_details

Email: Login to see tender_details

Login to see details

Tender Details

Request for proposals are invited for External Financial Audit
Islamic Relief Worldwide wishes to engage the services of an audit firm for the purpose of auditing Basic Educaiton and Psychosocial Support for Syrian and Palestinian Refugee Children in Lebanon- Radiohjälpen as stipulated in the agreement between Islamic Relief and Radiohjälpen. The audit shall be carried out in accordance with International Standard on Related Services applicable to agreed-upon procedures

engagements, ISRS 4400.The audit shall be carried out by an external, independent and qualified auditor (whom is an Approved Public Accountant/Authorized Public Accountant or equivalent).
II. Objectives and scope of the audit
The objective is to audit the Financial reports for the periods (01/6/2018 - 28/02/2020) as submitted to Radiohjälpen and to express an audit opinion according to ISA 800/805 on whether the financial reports of Basic Education and Psychosocial Support for Syrian and Palestinian Refugee Children in Lebanon is in accordance with Radiohjälpen`s instructions for financial reporting as stipulated in the agreements between Radiohjälpen.and Islamic Relief.
III. Additional assignment; according to agreed upon procedures 4400 in the individual Terms of reference approved by Radiohjälpen.
Items 1-10 are mandatory for all projects; items 11 and 12 are applicable only for projects, where Radiohjälpen-s contribution equals or exceeds SEK 200 000.
1. Verify that the final reporting has been done in accordance with the existing agreement with Radiohjälpen on the correct templates provided by Radiohjälpen. If this is the case, please state this.

2. Verify whether implementation and reporting has been done in accordance with the time frames agreed upon with Radiohjälpen. If this is the case, please state this, otherwise specify deviations.

3. Verify that there is an agreement between ORG and any other implementing party and that this agreement has been established in accordance with the instructions in ORG-s agreement with Radiohjälpen. If this is the case, please state this, otherwise specify deviations.

4. Verify whether the budget provided in the financial report has been approved by Radiohjälpen. If this is the case, please state this. Please specify deviations (if any) from the budget approved by Radiohjälpen.

5. Verify that all budget deviations, per budget item, exceeding 10% of the total budget have been commented upon in ORG-s final report and that approval for these deviations has been received from Radiohjälpen. Please state all cases (if any) where this has not been the case.

6. Verify that the financial report is in accordance with the organisation-s book-keeping and with reporting from other implementing parties (if any). If this is the case, please state this, otherwise specify deviations.

7. Verify and assess whether calculations underpinning the financial report are correct and based on reasonable assumptions.

8. Verify that the financial report includes information on accrued interest with regard to the funds obtained from Radiohjälpen and specifies whether the closing balance contains any unused funds from Radiohjälpen. If this is the case, please state the exact amount and specify whether the funds have been returned to Radiohjälpen.

9. Verify that costs labeled as ”administrative costs” and ”overhead” in the financial report are in agreement with the percentage stated in the agreement between ORG and Radiohjälpen. If this is the case, please state this, otherwise specify deviations.

10 Assess whether there are material weaknesses in ORG-s internal control regarding the financial reporting. ”Material” in this respect refers to weaknesses that normally would be reported in a management letter to the Board of Directors of ORG.

11. Verify that a local audit, in compliance with ORG-s agreement with Radiohjälpen, has been performed in all cases where funds have been transferred to another implementing party. If this is the case, please state this. Specify deviations (if any). Comment on how ORG has ascertained that the local auditor is qualified according to the specifications in the agreement between ORG and Radiohjälpen.

12. Highlight significant findings from the report done by the local auditor. If there are no significant findings, please state this.
IV. The reporting (Annex 2 - Template according to ISRS 4400 for Engagement to

perform Agreed-upon Procedures regarding financial information)
The scope of the audit shall be stated in the report and the methodology used shall be presented.
The reporting shall be signed by the responsible auditor (Not just the audit firm) and title.
The reporting from the auditor shall include an audit report report/management letter with audit findings and weaknesses identified during the audit process. The auditor shall regardless of materiality quantify the amount for costs missing sufficient supporting documentation. The auditor shall make recommendations to address any weaknesses identified. The recommendations should be presented in priority.
Islamic Relief

Financial covering period 01-06-2018 to 28-02-2020

Draft accounts available for audit

Timing of the audit

Sign off to draft accounts required from auditors

Approval by Trustees

Documents

 Tender Notice