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, before the end of August, 2020
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 the Board of Executive – AICT DIOCESE OF TABORA. 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 Executive Board in writing at the above address or by calling +255767446590
TERMS OF REFERENCE
Africa Inland Church Diocese of Tabora is a Faith Based Organization (FBO) which was officially registered under Act CAP. 337 (R.E 2002) of Tanzania on 2008 with registration number S.A.6242, the core vision of the organization is to proclaim GOD news and at the same time meeting socio-economic needs of the societies around. Although the Organization has Holistic approach to serve the society of Tabora, also is supporting the society to overcome poverty and to improve their well-being as clearly stipulated on Organization Vision and Mission.
AICT Tabora implementing various communities based programs including, USAID Kizazi Kipya Project, COMPASSION Children Center, and USAID Tulonge Afya Project. All of these interventions aimed to support and improve socio well-being of society at Tabora Region where Health, Education, Economic and GBV awareness have been addressed. The interventions have been supported by International and reputed Donors including USAID through PEPFAR.
AICT Diocese of Tabora is seeks to solicit proposals from qualified firms to audit the financial statements for the financial year ending July, 2020 with the option of auditing the financial statements for the future financial years.
Objective of the Audit:
1. The objective of the audit is to enable the auditors to express an independent professional opinion on the financial position of Organization and to ensure that the funds utilized to AICT Tabora activities have been used for their intended purposes.
2. The books of accounts of AICT Tabora provide the basis for preparation of the Organization Financial Statements. Proper books of accounts as required by law have been maintained by AICT Tabora and also maintain adequate internal controls and supporting documentation for the transactions.
Scope of the Audit
1. 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.
2. Verify all funds have been used in accordance with the established rules and regulations of AICT Tabora and only for the purposes for which the funds were provided.
3. Goods, works and services financed have been procured in accordance with the AICT Tabora established rules and procedures.
4. 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.
5. The financial statements have been prepared by AICT Tabora management in accordance with applicable accounting standards and give a true and fair view of the financial position of an Organization and of its receipts and expenditures for the period ended on that date.
6. Comprehensive assessment of the adequacy and effectiveness of the accounting and overall internal control system to monitor expenditures and other financial transactions.
7. Express an opinion as to reasonableness of the financial statements in all material respects.
8. 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.
9. Conduct entry and exit meeting with the Executive Board of AICT Tabora for the final feedback of the work.
10. In addition to the audit report, the auditor will prepare a management Letter on the following:-
a) Give comments and observations on the accounting records, procedures, systems and controls that were examined during the course of the audit.
b) Identify specific deficiencies and areas of weakness in systems and controls and make recommendations for improvement.
c) Report on the implementation status of recommendations pertaining to previous period audit reports.
d) Communicate matters that have come to their attention during the audit which might have a significant impact on the sustainability of the organization.
e) Bring to the Board of Executive’s attention any other matters that the auditors consider pertinent.
· 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 AICT Tabora Board of Executive.
· Management letter in accordance with the scope of work described here before.
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 25th July 2020 addressed to firstname.lastname@example.org. All proposals become the property of AICT Tabora and will become part of the requester’s files without obligation.
Nature of Services Required
1. Audit period will be from 1st August 2019 to 31st July 2020. (One year)
2. Special reports, exhibits, and schedules required:
· Accounts report.
· Balance sheet.
· Schedule of cash.
· Statements of changes in financial position.
· Notes on financial statement.
3. Description of Entity and Records to be audited:
· General ledger, fixed assets ledger, accounts receivable, general journal, accounts payable.
4. Details of fixed assets are maintained. Fixed assets are based on cost.
5. Staff members will be available to produce documents.
6. Work areas will be provided by AICT Diocese of Tabora in close proximity with the financial records on the premises.
7. Report Requirements
The report will be addressed to the AICT Diocese of Tabora Board of Executive and will contain items listed in
Reports of compliance examinations must include a statement that the audit was conducted in accordance with applicable standards. The audit report must state where the examination disclosed instances of significant non-compliance with laws and generally accepted accounting principles.
Findings of non-compliance and ineligible expenditures must be presented in enough detail for management to be able to understand them.
8. Time Requirements
All proposers will be notified of the Board decision in a timely manner.
Once a contract has been signed, work may begin immediately to generate the audit in a progress manner with costs to be billed AICT Diocese of Tabora as the charges generated by the proposer in accordance with the original agreement.
9. Report Review Timing and Number of Copies.
Prior to the submission of the completed audit report the audit firm will be required to deliver and review the draft and the proposed management letter with the AICT Diocese of Tabora Board of Executive.
Note: AICT Diocese of Tabora reserves the right to reject any and all proposals submitted