Bunda
Farmers Development Support Organization (BUFADESO) is soliciting proposals from
qualified firms to audit the financial Statements for the financial year starting
1st January 2021 ended 31st December 2021,
with the option of auditing the financial statements for the future financial
years.
Your proposal should contain, but not
be limited to the following considerations:
1. Eligibility – accreditation to
conduct audits.
2. Experience of your firm in relation
to the scope of audits for the non-governmental
organizations.
3. Your staff assignments and
availability to complete the audit on a timely basis, by 15th of
February 2022.
4. Procedures used to transmit audit
adjustments and the reasons for them along with
management recommendations to the
responsible personnel within the organization’s
structure.
5. Detailed audit plan.
6. The proposal fee to conduct the
audit function.
7.
Estimated timeframe to complete the audit.
The final decision of the selection of
the firm to conduct the audit will be made by BUFADESO Board of Directors.
The final agreement will be in the
form of a written contract following the standard agreement form used by CPA
firms conducting audits.
All questions and correspondence should
be directed to the Coordinator in writing to bufadeso@gmail.com
TERMS
OF REFERENCE
Background Information:
Bunda Farmers Development Support
Organization (BUFADESO) is a member-based, non-profit, nongovernmental
organization founded in 2012 and registered in 2013 under the Act number 24, section 12(2) by the Ministry of Health, Community
Development, Gender, Elders and Children with a registration number
00NGO/00010200.
BUFADESO envisions being a strong organization that will bring
sustainable agricultural development to farmers; with a mission of empowering
farmers on improved, profitable and sustainable agriculture.
BUFADESO is
implementing two projects in partnership with Vi Agroforestry;- a Swedish development organization fighting
poverty and climate change – together, through agroforestry and strengthening
of farmers` organizations, to empower smallholder farmer families to reduce
poverty, hunger and deforestation, and contribute to increased biodiversity.
Our work is based around five thematic
areas namely:- Agriculture and environmental management; Farm
Enterprise Development; Advocacy; Gender and HIV/AIDS mainstreaming; and
Children and Youth empowerment.
Bunda Farmers
Development Support Organization is currently implementing one project: ALIVE
(Agroforestry for Livelihood Empowerment) project and has phased-out an
Ecosystem project (SEMA project) on 31st January 2021. , both funded by Vi Agroforestry.
The organization seeks to solicit proposals from
an
external, independent, and qualified auditor to
audit the Projects financial statements for the financial year ending 31st December, 2021 with the option of auditing
the financial statements for the future financial years.
Objective of the Audit:- The objective of the audit of BUFADESO
financial statements is to enable the auditors to express an independent
professional opinion on the financial position of BUFADESO and to ensure
that the funds utilized to BUFADESO’s activities have been used for their
intended purposes as funded by Vi Agroforestry.
- The books of accounts of BUFADESO provide
the basis for preparation of the BUFADESO’s Financial Statements. Proper
books of accounts as required by law have been maintained by BUFADESO and
also maintain adequate internal controls and supporting documentation for
the transactions
Scope of the Audit- The audit will be carried out in
accordance with the International Auditing Standards and will include
tests and verification procedures as the auditors deem necessary.
- Verify all funds have been used in
accordance with the established rules and regulations of BUFADESO as well
as Vi Agroforestry funding terms and conditions /and
only for the purposes for which the funds were provided.
- , works and services financed have
been procured in accordance with the BUFADESO’s established rules and
procedures.
- Appropriate supporting documents, records
and books of accounts relating to all activities have been kept. Clear
linkages should exist between the books of accounts and the financial
statements presented.
- Comprehensive assessment of the adequacy
and effectiveness of the accounting and overall internal control system to
monitor expenditures and other financial transactions.
- Express an opinion as to reasonableness
of the financial statements in all material respects.
- Include in their reports opinion on
compliance with procedures designed to provide reasonable assurance of
detecting misstatements due to errors or fraud that are material in the
financial statements.
- Conduct entry and exit meeting with the Management
of BUFADESO
- In addition to the audit report, the
auditor will prepare a management Letter on the following:
i. Give comments and observations on the
accounting records, procedures, systems and controls that were examined during
the course of the audit.
ii. Identify
specific deficiencies and areas of weakness in systems and controls and make
recommendations for improvement.
iii. Report
on the implementation status of recommendations pertaining to previous period
audit reports.
iv. Communicate
matters that have come to their attention during the audit which might have a
significant impact on the sustainability of the organization.
v. Bring
to the Management’s attention any other matters that the auditors consider
pertinent.
Deliverables- The Auditors on completion of the audit
work will submit 3 (three) original copies of the Audit Report appended to
the Financial Statements along with the reports to the attention of the Management.
- Management letter in accordance with the
scope of work described here before.
Qualification
criteria of the auditor:
1. The signing Auditor is a member of a national accounting or
auditing body or institution which in turn is member of the International
Federation of Accountants (IFAC) and is licensed for providing the required
services acceptable to Vi Agroforestry.
2. The audit will be performed according to International Standards
on Auditing (ISA 800/805) and International Standard on Related Services (ISRS)
4400, as set out in Vi Agroforestry Audit instructions
3 Relevant experience related to the assignment in accordance with
Vi Agroforestry Audit instructions.
4. Ability to review accounts and documents in relevant languages.
5. No subcontracting of the audit assignment by the selected auditor
will be allowed.
Nature
of Services Required
1. Audit period will be from 1st January 2021 to 31st December 2021. (One year)
2.The partner
organisations shall give the auditors access to the accounts, all documents,
correspondence, and any other information associated with the Project and
deemed necessary by the auditors.
3.The draft
audit reports must be shared with the Partner and Vi Agroforestry and discussed
with the partner organisation in detail before being finalised by the auditor.
4.The signing
auditor may not be given the assignment for more than five years in succession.
5. Audit
Memorandum, including:
•
Auditor’s confirmation of independence, signed by the Auditor
•
Auditor’s Authorisation Certificate
•
Independent Auditor’s Report (ISA 800/805), signed by the Auditor
•
Management Letter, signed by the Auditor
•
Report of Factual Findings (ISRS 4400), signed by the Auditor
• Audited annual financial report and accompanying financial
statements, including statement of income and expenditure for the year ended 31
December 2021, signed by the Auditor on each page for identification purposes
Audit
Duration:
The
audit work shall be completed within two weeks from the date of commencement of
the audit.
Interested audit firms with experience
in executing similar assignments are invited to submit their expression of
interest/bids on or before 30th September
2021 addressed to bufadeso@gmail.com
All proposals become the property of BUFADESO
and will become part of the requester’s files without obligation.
