Request for Proposal for External Auditors, Ethiopia Tenders Global

Summary : Request for Proposal for External Auditors

Organization Name : Organisation of Southern Cooperation

Organization Details:

Notice Details:
Organization Name:	Organisation of Southern Cooperation
Country:	Ethiopia
Address:	Egypt Street, Lideta, Woreda 4 Addis Ababa Ethiopia
Contact Person:	Name: Amarachi Nzenwa Email: Amarachi.nzenwa@osc.int Phone: +251 094 409 6075
Notice Type:	Request for Proposal
Bidding Type:	International Competitive Bidding
Notice No:	RFP-ETH-24-002
Description:	Scope of Engagement The audit will be performed pursuant Article 12 of the OSC’s Financial Regulations, Annex 2: Additional Terms of Reference Governing the Audit and Section C-OSC’s General Conditions of Contract for the Provision of Services, attached thereto. The audit will be conducted in compliance with International Auditing Standards, which are found in the IFAC Handbook on International Standards on Auditing and Quality Control. The selected External Auditor will be responsible for conducting an independent audit of OSC's accounts for the years 2023 and 2024. The scope of auditing services includes, but is not limited to, the following: a. Financial Statement Audits: - Conducting an audit of OSC's financial statements for the years 2023 and 2024. - Assessing the accuracy, completeness, and fairness of financial disclosures. - Reviewing accounting policies and practices to ensure compliance with International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS). b. Compliance Audits: - Reviewing OSC's compliance with applicable laws and regulations. - Evaluating internal controls and procedures to identify areas of non-compliance or potential risk. - Assessing the effectiveness of OSC's internal control environment in safeguarding assets and ensuring financial integrity. c. Performance Audits: - Conducting valuetifortimoney audits to assess the efficiency, effectiveness, and economy of OSC's operations and programmes. - Evaluating the performance of OSC's programmes and projects against established objectives and key performance indicators. - Identifying opportunities for improving operational efficiency and achieving cost savings. d. Special Examinations: - Performing special examinations as requested by OSC's management or governing bodies. - Investigating specific financial transactions, events, or allegations of fraud or misconduct. - Providing expert advice and recommendations to address any identified deficiencies or areas of concern. Reporting The external auditor shall prepare and submit the following reports: a. Audit Reports: - Issuing audit reports on OSC's financial statements, compliance with laws and regulations, and overall financial performance. - Providing clear and concise findings, conclusions, and recommendations based on the audit findings. b. Management Letters: - Communicating significant audit findings, control weaknesses, and areas for improvement to OSC's management. - Offering practical suggestions and best practices for enhancing internal controls and financial management processes. Deliverables The deliverables for the auditing services include: a. Audit reports in accordance with auditing standards and regulatory requirements. b. Management letters containing recommendations for improving internal controls and financial management practices. c. Any additional reports or documentation as requested by OSC's management or governing bodies. Requirements for the Auditor General Principles By agreeing to these ToR, the Audit firm confirms that it meets at least one of the following conditions: • The Auditor is a firm of professional accountants that is a member of a national accounting or auditing body or institution which, in turn, is a member or associate of the International Federation of Accountants (IFAC). • The Auditor is a member of a national accounting or auditing body or institution that is a recognised regulatory body of professional accountants and auditors. The certified (ACCA (association of chartered certified accountants or equivalent) Auditor commits to undertake this engagement in accordance with the IFAC Handbook on International Standards on Auditing an Quality Control, including the Code of Ethics therein. • The Auditor is registered as a statutory auditor in the public register of a public oversight body in a third country and this register is subject to principles of public oversight as set out in the legislation of the country concerned (this applies to Auditors and audit firms based in a third country). Qualifications and Experience The qualifications and experience of the Audit Team must meet the standards set forth under the International Standards on Auditing and Quality Control for firms that perform audits and reviews historical financial information and conducts other assurance and related services engagements. The Audit firm must have a minimum of 10 years of experience. Team Composition The composition of the Audit Team shall be such that the Auditor is able to comply with the International Standard on Auditing and Quality Control. The team of auditors required for this engagement will be composed of a mixture of auditors with different categories and variable seniority. This should include a highly qualified expert/s, team leader/s and audit assistant/s for financial as well as for contract compliance audits to ensure that the services delivered are appropriate and justified. Team must at least be fluent in English and additional knowledge of one or more other official languages (French, Arabic, Spanish) is an asset. The principal auditor must possess at least a decade of experience in overseeing projects of a similar nature.
Deadline:	09 Apr 2024
Updates:
Soft Copy:	terms (259.6KB) notice (238KB) documents (790.3KB)
About Authority:	The OSC is an international, inter-governmental Organisation founded by countries across the Global South. As set out by its Constitutive Charter, the purpose of the OSC is to "contribute to the equitable, just, and prosperous social transformation of societies by promoting balanced and inclusive education, in order to attain the fundamental rights to liberty, justice, dignity, sustainability, social cohesion, and material and immaterial security for the peoples of the world." The OSC was established, as the instrument to achieve the collective vision of Balanced and Inclusive Education (BIE) for all, on 29 January 2020.