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  • Posted: Dec 19, 2024
    Deadline: Jan 3, 2025
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  • Protection International Kenya contributes to the creation of a safe and enabling environment for human rights defenders (HRDs) and civil society.
    Read more about this company

     

    External Audit Services - PIA

    Terms of Reference

    • Carry out the audit assignment in accordance with International Standards of Auditing (ISA) issued by the International Audit and Assurance Standards Board and adopted by International Federation of Accountants (IFAC).
    • Ascertain that funds received by the organization have been applied for the intended purpose and have been accounted for in accordance with the funding agreement.
    • To review the efficiency and effectiveness of financial processes and recommend improvements where necessary.
    • Evaluate the organization’s internal controls related to financial management, including procurement, cash management, payroll, donor reporting, asset management, and record keeping.
    • Identify any risks or weaknesses in the internal controls that could lead to misstatements, fraud, or inefficient use of resources as well as assess the adequacy of existing controls in mitigating risks.
    • Review compliance with local laws, NGO regulations, and donor requirements regarding the use of funds, reporting, and program implementation.
    • Ensure adherence to taxation and reporting requirements in the jurisdiction in which the NGO operates.
    • Assess the effectiveness of financial policies and procedures in supporting organizational objectives.
    • Verify that funds received, have been acknowledged and reflected in the financial reports/statements submitted to the users/donors.
    • Verify and report on whether or not funds have been re-granted by the organization. In case of re-grant follow up to ascertain that funds have been reported and applied for the intended purpose.
    • Provide a clear, concise audit report that includes the auditor’s opinion, any internal control weaknesses or recommendations, compliance issues, and overall assessment of financial management.
    • Submit a management letter with specific recommendations on improving internal controls, processes, and compliance.
    • Present the final audit report to the Board of Trustees and senior management team for discussion.

    Deliverables

    • Audit Plan
    • Draft audit report for review by the management.
    • Final audit report in 4 copies both soft and hard copy
    • Audit Certificate.
    • Management Letter

    Mandatory Requirements

    • The firm should have a valid practicing certificate.
    • Eligible firms should not have conducted audit relating to Protection International for the last 3 years.
    • The Partner(s) of the audit firm should be practicing member(s) of Institute of certified Public Accountants of Kenya (ICPAK), in good standing.
    • The partners of the firm should have professional indemnity. A copy of the current certificate should be attached.
    • Any possible conflict of interest should be clearly indicated in detail for guidance in decision making.
    • Be knowledgeable about local tax laws, NGO regulations, and international accounting standards.
    • Provide references from other NGO clients and relevant credentials of the proposed audit team.

    Check how your CV aligns with this job

    Method of Application

    Application Requirements:

    • Profile of the firm
    • Profile of the proposed team, covering the partner, Audit Manager and support staff.
    • Technical and Financial Proposal
    • Outline of the methodology to be applied, as well as estimated time frame required to complete the audit (as per the TOR)
    • The firm should state its experience in providing audit services to clients with operations in Kenya.
    • Profile of three (3) major clients with operations comparable to those being required under the terms of reference

    Interested candidates to send their applications to [email protected] by 3rd January 2025

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