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Tender Details
- Country: Ethiopia
- Summary: Financial Audit- IAP Grantees
- ETT Ref No: 79963167
- Deadline: 06 Apr 2023
- Competition: ICB
- Financier: Self Financed
- Purchaser Ownership: Public
- Tender Value: Refer Document
- Notice Type: Tender
- Document Ref. No.:
- Purchaser's Detail :
- Description :
- Tenders are invited for Financial Audit- IAP Grantees As part of the contract requirements, annual audits are to be carried out on any grant funding disbursed to all IAP grantees. These Terms of References (ToR) provide an outline for the annual audit assignments to be carried out in each of the four IAP focal countries. This ToR applies to the annual audit assignment for Alviol General Trading P.L.C. based in Ethiopia. Aim of the audit assignment This assignment aims at assessing whether the IAP funds received by the grantees have been used in accordance with the work plan and budget as contained in the IAP funding contract and whether appropriate financial reporting and administrative systems and procedures have been adhered to in accordance with the operational manual annexed to the IAP funding contract. The specific objective is to (a) audit all the milestone financial reports submitted by the grantee to SNV/IAP within the period 01 May 2021 up to 31st December 2022 at a total expenditure of EUR 71,914 disbursed by SNV/IAP and EUR 81,085 company contribution and (b) to express an audit opinion according to ISA 800/ISA 805 standards, on whether the financial reporting of the grantee is in accordance with their accounting records and SNV/IAP-s requirements for financial reporting as stipulated in the funding the contract including annexes between SNV/IAP and the grantee, and (c) to issue a management letter highlighting the material observations as the result of the audit. This assignment will also specifically focus on an analysis of the grantees- internal control systems in order to determine the reasonable assurance that internal control systems are robust and functioning efficiently. The assignment includes a review in which routines and systems for operational and financial control are described and analyzed. The audit firm is expected to identify eventual weaknesses and provide recommendations on improvements to be addressed by each IAP 2 grantee. The recommendations will be useful as they will be incorporated and guide the future implementation of the program. Specific tasks Examine whether the financial reports include a comparison, for every budget item, between the actual costs/expenditures of activities and the budgeted costs/expenditures as approved by SNV/IAP for the period. Based on materiality and risk the auditor shall examine whether there is supporting documentation related to incurred costs. If costs without sufficient supporting documentation are found, these costs shall be quantified. A review of the outgoing balance for the previous period is the same as the incoming balance for the current period. The financial milestone reports for the funding received by each grantee shall be audited. The audit shall verify that the use of IAP funds received from SNV has been used exclusively for the IAP project and in line with the agreed work plan as mentioned in the milestone plans/budgets and that the IAP funds have been kept separate from any other activities. The financial reports for grantees- own contribution (whether in-kind or in cash) shall be audited and shall verify that the own contribution provided by the grantee has been in line with the milestone plan and budget in terms of type and quantity. Follow up grantees- compliance with the applicable tax legislation in regard to taxes (e.g. PAYE)1 and social security provisions. Follow up on whether grantees have adhered to the procurement guidelines annexed to the funding contract. Prepare a list of all procurements done by each grantee during the period from the start of the funding contract up to December 31st, 2022, and additionally scrutinize the single-sourced procurements. Verify that all relevant procurement documents are kept and archived according to the SNV procurement guidelines. Relevant documents are a tender invitation, tender, tender evaluation protocols, and decisions taken during the entire process, including documentation of deviations from the procurement regulation if applicable. Verify if the handling of payments for IAP-funded activities has been handled according to SNV-s financial regulations. Verify that a robust internal control system is in place that ensures; Assets are safeguarded Fraud is prevented and detected Segregation of duties is adopted and strictly followed Accounting records are complete; reliable and understandable Bid closing date: 6th April 2023 Bid opening date: No Specific Opening Date and Time Region: Addis Ababa [Disclaimer: The above text is machine translated. For accurate information kindly refer the original document.]
- Documents :
Purchaser : ALVIOL GENERAL TRADING P.L.C
In Front of Bole Medhanialem in the Middle of Mafi Mall and Berhane Adere Mall Lion Bank S.C. 3rd Floor &Nbsp
Tel: +251-910990965
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