Request proposal for external auditor 2024

OBJECTIVES

 

Indonesia Business Coalition for Women Empowerment (IBCWE) is inviting Expressions of Interest (EOI) or proposal for an Auditing Firm to execute auditing services for the fiscal years 2023 to 2024. The overall goal is to conduct a grant financial statements audit for period from April 1, 2023, to June 30, 2024 and (IBCWE) annual financial statement audit period January 1, 2023, to December 31, 2023 to enable the auditor to express opinions on:

  • whether the grant and IBCWE’s financial statements (including supplementary statements) present fairly, in all material respects, (or give a true and fair view of) the grant and IBCWE’s financial position as at each accounting year-end, and its cash flows for the years then ended, in conformity with the accounting standards acceptable to Abt Associates and International Financial Reports Standard (IFRS) or equivalent national accounting standard.
  • whether the proceeds of the grant were used for the intended purpose, and
  • whether the project has complied with the expectations and requirements stated in the grant agreement

 

OUTPUT

The output of the audit is to deliver audit reports in the English language comprising:

  1. Grant financial statement audit reports

The audit reports for the grant financial statements should include:

  1. An independent audit opinion expressed on the financial component of the Final Acquittal Report and verification of the grant fund balance and provide reasonable assurance that the proceeds of the grant were used only for the purpose of the grant, and the grant was in compliance with the terms and conditions of the grant agreement.
  2. Financial Break-down of the financial statements/figures audited.

A financial breakdown of the figures audited. Either a separately prepared table by the auditor or a copy provided to the auditor by the organizations and/or implementing partner. The auditor must include this in the report. An audit report will NOT be accepted if no financial table detailing the total revenue, expenses and balance for the period is included by the auditors.

The Financial break- down shall include financial statements with comparative presentation not limited to the following;

  • Statement of Cash Receipts and Payments
  • Statement of financial position
  • Statement of financial performance
  • Statement of Comparison of Budget and Actual Amounts
  • Summary Statement of Expenditures
  • Notes to the Financial Statements

2. IBCWE’s annual financial statement audit reports

 The annual audit reports for the IBCWE’s annual financial statements should include:

  • The auditor issues an independent audit opinion of the IBCWE’s annual financial statement based on the International Financial Reporting Standards or equivalent national accounting standard.
  • The Auditor provides the break-down of the financial statements/figures audited following the International Financial Reporting Standards or equivalent national accounting standard.
  • Where additional the agreed upon procedures have been included in the assignment, the audit report shall also refer to this.

3. Management Letter/report

A management Letter/report covers auditor findings and recommendations of the grant financial statements and IBCWE annual financial audit report that outlines any concerns or issues raised, including comments made by the grant recipient in respect of those matters including the following but not limited to:

  • Weaknesses and issues in accounting and internal control systems, including irregularities in the use of grant funds, ineligibility of expenditures, and procurement-related weaknesses and issues.
  • Auditor’s assessment of the causes, and recommendations to improve or rectify the identified weaknesses and issues.
  • IBCWE’s responses to the weaknesses and issues including explanations of the causes, proposed action plan to address the concerns, and the timeline for completion.
  • Status of weaknesses and issues identified and reported in prior periods.
  • Any continuing or persistent issues and weaknesses, and follow-up actions taken.
  • Any matters the auditor considers significant that will impact implementation of the grant activities.

This management letter should also incorporate the findings and recommendation of performing audits upon procedures to maintain a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards, and applicable legal and regulatory requirements.

SELECTION CRITERIA

The auditor must satisfy the following minimum requirements:

  • Have adequate relevant professional and educational qualifications, or able to provide audit staff with adequate qualifications, experience, and competence.
  • Objective and independent from the grant, its staff, and activities, and from all aspects of management or financial interests of the Indonesia Business Coalition for Women Empowerment (IBCWE).
  1. Applicants must submit an Expression of Interest including:
    1. A Company profile and proof of legal certificates and affiliations.
  2. Cover letter expressing interest.
  3. Resume/CV of Lead Auditor to be assigned to the audit.
  4. Evidence of Experience Eligibility and Rules.
  5. A budget and schedule to conduct the audit
  • The EOI is open to all Audit firms legally authorized to operate in Indonesia.
  • All applicants must be a member of the Institute of Chartered Accountants.
  • Affiliated to international firms is a big asset.

TIMEFRAME

The audit work should be carried out within 2 (two) months from July 1, 2024, to 31 August 2024  and conducted in IBCWE Office. The auditor will provide a detailed work plan before the start of the engagement and this work plan shall be approved by the IBCWE.

CONTACT

For additional information and sending the proposal, please contact email to [email protected] and [email protected]

The proposal should be submitted no later than Saturday, June 22, 2024

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