Terms of Reference For Conducting an External Audit For IMA World Heath 2023

Terms of Reference For Conducting an External Audit For IMA World Heath 2023

 JIUNGE NASI WHATSAPP TU FOLLOW. BONYEZA HAPA

Terms of Reference For Conducting an External Audit For IMA World Heath 2023

  1. BACKGROUND 

Terms of Reference For Conducting an External Audit For IMA World Heath 2023 IMA World Health offers sustainable and efficient solutions to health-related  problems that are far too common in the developing world.

Our mission is to build healthier communities by collaborating with key partners to  serve vulnerable people. Our vision is health, healing and well-being for all.  With a mission to restore health and healing to those most in need, IMA World Health  is a non-profit, faith-based organization that offers extensive expertise in health  systems strengthening as well as neglected tropical diseases, malaria, HIV, non communicable diseases, and sexual and gender-based violence programs in some of  the most challenging and post-conflict settings throughout the world.

IMA Tanzania and LWR is seeking an audit firm to perform the annual audit of  financial statements and related compliance work for the period of 1st October 2022 to 30th September 2023.

  1. OBJECTIVE OF INDEPENDENT AUDIT 

The overall purpose of the audit is to: 

  • Express an opinion on whether the income statement for the period present  fairly, in all material respects, revenues received and costs incurred for the  period audited in accordance with the approved budget, and in conformity with  generally accepted accounting principles.
  • Review IMA’s internal control structure in order to determine whether  management has put in place satisfactory controls aimed at preventing,  detecting, reducing or eliminating errors and irregularities, and to report any  significant internal control deficiencies and material weaknesses.
  • Test compliance with the terms of the agreements with donor and applicable  laws and regulations as part of obtaining reasonable assurance about whether  the financial statements are free of material misstatements and report on any  identified material instances of noncompliance.
  1. SCOPE OF WORK 

This independent audit will cover the period from October 1, 2022, to September 30, 2023 and the assessment will focus on following areas:

  • Examine IMA Tanzania’s financial transactions to ensure supporting documents  are accurate, reliable, and free of material misstatement.
  • Assess the overall presentation of IMA financial statements and make sure they  are in accordance with the approved budgets.
  • Examine the effectiveness of systems, policies and procedures which were in  place during the audit period.
  • Review procurement activities to determine whether IMA’s procurement and  contracting policy and procedures as well as best practices were followed and  adequacy of these procedures.
  • Review financial statements to ensure that they are presented in accordance  with Generally Accepted Accounting Principles and International Financial Reporting Standards.
  • Review systems, procedures, and management to determine whether these  provide adequate internal controls.
  • Review income and expenditure records including the payroll and benefits  administration to ensure compliance with the donor requirements, local labour  and other applicable laws.
  • Review and document the implementation of corrective action plan(s) for prior  audit findings.
  1. TIMING AND DURATION  

The work is expected to commence no later than Nov 1, 2023. The audit firm is expected  to submit a draft report to IMA for management response by November 30, 2023, and  submit the final report not later than December 15, 2023

The timeline for the completion of the evaluation is firm. Delay in submission of the  deliverables that are not the fault of IMA will result in a reduction in the final payment  to the auditor.

  1. DELIVERABLES 

The auditor will submit:

  1. Audit Report: Audit report stating an opinion on whether the financial  statements give a true and fair view of state of financial affairs for the period  under review.
  2. Audited Financial Statements, Statement of Cash Flows, and Management  Letter for the Financial Year Ending 30th September 2023

6. IMPLEMENTATION ARRANGEMENTS 

IMA will orient an external auditor on the scope of the work. The audit company will outline  the methodology for undertaking audit exercise, IMA will submit all required documents.  The consultant will provide his/her own working space, associated resources and  equipment. IMA will reimburse the actual cost incurred by consultant for transportation and  stationaries upon submission of receipts based on the agreed rate up to defined limit  established within the contract agreement.

  1. QUALIFICATION 

In responding to this request, the firm will submit their profile, which will include: 1. Contact person and Firm’s contacts

  1. Firm’s experience in providing auditing services to organizations in the not-for profit sector, especially international organizations
  2. Audit approach and methodology
  3. Names and resumes of key personnel that will conduct the audit
  4. Organizational details, including firm name, year established, copy of firm’s  certification (including TIN certificate, copy of business permit and Valid Tax  Compliance certificate)
  5. Name of any international association to which your firm belongs.
  6. Cost proposal for the proposed services and proposed method of invoicing. 8. Disclosure of anyone in your firm currently serves as a government official or  has served as a government official in the past 5 years.
  7. Description of your experience in auditing International NGOs including end of  the project audits (limit one page).
  8. Two references to other international NGOs whom your firm has served and  provide a brief description as to the kinds of services rendered.
  9. Audited accounts for the last 3 years

Application procedure 

Complete applications should be submitted with attachments to the email:  [email protected]

The subject line should read: Statutory Audit.  

Deadline for the submission of bids is on Monday 9th October 2023 by 5pm Tanzania  time 

Applicants who do not follow application instructions will be rejected. ONLY short-listed candidates will be contacted for interview.

 

 

 JIUNGE GROUP LETU LA TELEGRAM. BONYEZA HAPA