CIFA ONLUS External Audit Service TOR Jobs in Ethiopia
CIFA ONLUS External Audit Service TOR Jobs in Ethiopia
Scope of AuditThe auditor shall determine whether the financial statements of the CIFA (for the year beginning on January 01, 2019 and ending on December 31, 2019 are presented fairly in all material respects in conformity with the Generally Accepted Accounting Principles (GAAPs)
The auditor shall also determine whether the financial statements is presented fairly in all material respects in relation to the CIFA's finance management policies and its stakeholders (Government of Ethiopia and donors) requirement and consideration are taken as a whole.
Accounting, Financial Reporting and Audit Arrangements
The locations of accounting records to be audited are available at CIFA Ethiopia head office in Addis Ababa.
Preparation and Submission of Proposal
Please provide the following information in your proposal:
Provide a description of your firm (staff size, number of professionals, industries served, …etc.)
Describe engagements your firm currently conducts in the not-for-profit sector. Include a list of not- for-profit clients that you believe are comparable to our organization in size, mission focus and complexity.
Describe the level of experience of the individuals who would be assigned to our account.
Describe your firm’s basic approach to performing an audit and the resulting advantages that will accrue to our agency.
Include description of the activities undertaken by your firm to promote /ensure audit quality.
The reporting for the audit will be in English.
Selection and Scoring Criteria
CIFA will assess proposals based on the following Technical and Financial criteria:
Overall capabilities of the firm (20%)
Affiliation with worldwide firm–nature of professional quality assurance and other interactions to ensure that international auditing standards are maintained as they are evolving. (4%)
Experience in audit of not-for-profit organizations and/or local government entities managing USG-funded projects (4%)
Number of partners and professional staff; partner-staff ratio, ability to substitute staff at similar levels of qualifications and experience if necessary (4%)
Types of clients/sectors, number of large clients/clients spread (not overly reliant on few clients) (4%)
Feedback on performance from other clients (4%)
Professional team assigned (15%)
Organization of team (lead partner, review partner, number of manager-level staff, auditor-in-charge, and junior staff) (5%)
The CV of lead partner, review partner, manager(s), auditor in charge – professional and academic qualifications, years of external audit experience, recent professional development activities, experience with audit of not-for-profit entities, experience with auditing against international financial reporting standards, experience with auditing organizations managing similar funds; (5%)
Number of hours allocated in proposal by partners,
managers and auditor in charge (5%)
Proposed methodology (10%)
Risk assessment methodology (2%)
Balance between reviews of controls and substantive testing (2%)
Detailed work schedule and time taken to complete the assignment (2%)
Approach to reviewing the financial system (2%)
Proposed interaction with internal audit function (2%)
Price and Cost (55%)
Proposed fee (35%)
Relationship to the number of hours (should be neither excessive nor low that the quality of the audit or ability of the firm to deliver within the fee is doubted) (10%)
Estimated out-of-pocket expenses (10%)
The technical component of the proposal should address the technical criteria above.
The financial proposal (for fee and estimated “out of pocket” expenses) must be supported with an appropriate breakdown analysis.
Technical and financial components of the proposal must be put and sealed in separate envelops and should be clearly marked as “Financial Proposal” and “Technical Proposal”.
Scheduling and Staffing of Engagement
Identify the engagement team which would be performing our audit and include a resume of the qualifications and experience for partners, managers and staff.
Indicate the expected timing and completion of the audit and the expected delivery of the financial statements and management letter.
Other Proposal Instructions
Bidders are expected to examine the specifications and all instructions contained in this ToR. The proposals must be signed and stamped by a duly authorized representative.
Job Requirements
Requirements for External Audit
The requirements for the external audit of CIFA will include the following:
Examination of the financial statements according to the international auditing standards applicable to Ethiopia and issue of an opinion thereon.
Examination of the financial statements according to donor requirement
Preparation of a memorandum on the review of internal accounting controls and other matters arising from the audit which should be brought to the attention of the CIFA Management.
Presentation to the CIFA Management of the audit report and findings.
Signature of the audit report on the financial statements under the name of the firm.
How to Apply
Please submit your expression of interest and proposals (both technical and financial proposal with separate A4 envelope) physically by hard copies to CIFA’s office in Addis Ababa.
CIFA, Addis Ababa
Tel (Office): +251-116672564
Subcity Bole
Woreda 04
House n.516
(Near BGM clinic and Saint Gabriel Hospital, HayaHulett area).
For further information E-mails: country.admin.eth@cifaong.it
cifa.ethiopia@cifaong.it
Applications will be accepted up to October 07, 2020.
Proposals received after this date will NOT be considered.
All proposal submissions will be responded to once a decision has been made.
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