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Tender Details
- Country: Ethiopia
- Summary: Hire an Audit Firm that Undertakes Auditing of Project Finances and Their Deployment in Accordance with the Financial Rules of the Implementing Agency and Africa Development Bank
- ETT Ref No: 90439828
- Deadline: 30 Oct 2023
- Competition: ICB
- Financier: African Development Bank (AfDB)
- Purchaser Ownership: Public
- Tender Value: Refer Document
- Notice Type: Tender
- Document Ref. No.: 2100155041478
- Purchaser's Detail :
- Description :
- Tenders are invited for Hire an Audit Firm that Undertakes Auditing of Project Finances and Their Deployment in Accordance with the Financial Rules of the Implementing Agency and Africa Development Bank The audit firm will be responsible for: The auditors are responsible for the formulation of an opinion on the PFSs based on their audit conducted. In conducting the audit, special attention should be paid to the following: Counterpart funds (government budget) and external funds (in case of financing) have been provided and used in accordance with the conditions of the loan agreement, with due attention to economy and efficiency and only for the purposes for which they were provided; Goods, works and services financed have been procured in accordance with the loan agreement and in accordance with the Bank's rules and procedures; and have been properly accounted for; Appropriate supporting documents, records and books of accounts relating to all project activities have been kept. Clear linkages should exist between the books of accounts and the financial statements presented to the Bank; Special accounts have been maintained in accordance with the provisions of the loan agreement and in accordance with the Bank's disbursement rules and procedures; The financial statements have been prepared by project management in accordance with applicable accounting standards mentioned and give a true and fair view of the financial position of the Project as at the and of its receipts and expenditures for the period ended on that date; Comprehensive assessment of the adequacy and effectiveness of the accounting and overall internal control system to monitor expenditures and other financial transactions and ensure safe custody of project-financed assets and that they are being used for the intended purposes; Project's fixed assets are real and properly evaluated and project property rights or related beneficiaries' rights are established in accordance with loan conditions, and The auditors shall identify and evaluate risks related to fraud, obtain or provide sufficient evidence of analysis of these risks and assess properly the risks identified With a view to reducing audit risks to a relatively low level, the auditors will apply appropriate audit procedures and handle anomalies/tisks identified during their evaluation. The auditors will ensure that the PFSs are prepared in accordance with the standards mentioned above and give a true and fair view of the financial position of the project as at the fiscal year end and its receipts and expenditures for the financial year ended on that date. A reconciliation between the amount shown as "received from the Bank and that shown as having been disbursed by the Bank. The reconciliation should indicate the methods used for disbursement, i.e. special account, direct payment or reimbursement guarantee, reimbursement methods with those recommended in the appraisal report and the disbursement letter; and Audit all Statements of Expenditures (SOEs) used as a basis for the submission of withdrawal applications to the Bank by the project; Determine the eligibility of expenditures in accordance with the loan agreement and appraisal report. Where ineligible expenditures are identified as having been included in the withdrawal applications and replenished, these should be noted separately by the auditors; and Eligibility and correctness of financial transactions during the period under review and account balance at the end of such period; Operations and use of the special account in accordance with Loan/Grant Agreement/Disbursement Letter; and adequacy of internal controls for this type of disbursement mechanism. Audit reports will comprise (1) the auditors' opinion on the project financial statements and (ii) a complete set of project's financial statements and other relevant statements Report on the implementation status of recommendations pertaining to previous period audit reports; Communicate matters that have come to their attention during the audit which might have a significant impact on the implementation and sustainability of the project; and Bring to the borrower's attention any other matters that the auditors consider pertinent. Ideally, the management letter will include reactions/comments from PITS on the weaknesses noted by the auditors. Bid closing date: Oct 30, 2023 5:00 PM Bid opening date: No Specific Opening Date and Time Region: Addis Ababa
- Documents :
Purchaser : COALITION FOR DIALOGUE ON AFRICA
Demissew Ashagre Procurement Specialist, AFIAP 301, Old Building, Africa Union Commission Addis Ababa,
Tel: +251-911135984
Email :info@codafrica.org/Sabled@ africa-union.org
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