job vacancies, TERMS OF REFERENCE For Short Consultancy for Auditing For The Project titled; “We Can’t Wait”

TERMS OF REFERENCE

For

Short Consultancy for Auditing

For

The Project titled; “We Can’t Wait”

1. Introduction

NAGAAD is a leading Network representing 45 Women organizations in Somaliland and has been working to create an enabling environment for women in Somaliland since its inception in 1997.  NAGAAD’s program on women empowerment of different aspects in particular to We Can’t Wait project year one (2021). Currently NAGAAD is implementing project titled in Somaliland, which project is serving to improve gender equality and women empowering in their participation of economic, political, social and public services, as well build capacity of women’s participation in the leadership positions.

2. Purpose and Objectives of the Audit

The purpose of the Audit is to conduct independent auditing services for the implementation of the project titled; “We Can’t Wait” and verify on the books of the project and financial performance in accordance with International Standards on Auditing (ISA) and the objectives specified in the Terms of Reference.

3. Auditing Objectives:

The overall objectives of the Audit to provide independent assurance that the funding has been used for the intended purposes

• Specific Objectives:

• The objective of the audit of the Project Financial Statements (PFSs) is to enable the auditor to express a professional opinion(s) on the financial position of the project at the end of each fiscal year, and on funds received and expenditures incurred for the relevant accounting period.

4. Scope of the audit:

The auditor must;

1. Ascertain whether;
   1. Expenditures are legitimate, complete and accurate; grant funds have been used in accordance with the conditions of the Grant Agreement, and only for the purposes for which the funding was provided.
   2. Goods and services financed by the grantee have been procured in accordance with sound procurement procedures with due attention to economy and efficiency. That suppliers are selected objectively.

1. Tax and social security remittances have been made in accordance with the tax laws of the country where the organisation is established and for the period which the audit opinion relates.
2. All necessary supporting documents, records and accounts have been kept in respect of all project activities, with clear linkages between the books of account and reports presented to SIHA.
3. The existing financial practices and procedures are sound, in line with the Manual of Procedures approved by the Grantee’s governing body.
4. The Financial Statements have been prepared in accordance with International Accounting Standards or Generally Accepted Accounting Principles and Practices as appropriate, and give a true and fair view of the financial position of the project as at the Project’s FinancialYear-End.
5. INTERNAL CONTROLSYSTEMS: The auditor will conduct review of the internal control systems to have sufficient knowledge of the procedures and systems. The auditor will assess the soundness and adequacy of the grantee’s procedures, and whether those procedures are consistently applied by the grantee in the normal course of operations. In the process of reviewing the internal control system, the auditor needs also to examine areas like Governance, Achievement of Objectives, Budget Utilisation, Asset management and procurement.

The auditor should report any observations/findings on each of the above section in the Management Letter.

5. Audit Report

The auditor is expected to present two types of reports: An opinion on the Financial Statements and a report on the internal control of the organisation called a Management Letter.

• The report on the Financial Statements will contain:
  1. A professional opinion on the financial statements and supporting schedules.
  2. Accounting standards that have been applied indicating the effect of any deviations from those standards.

• The audit standards that were applied.

• The Management Letter will broadly cover findings and recommendations on any deficiencies on governance, project/program implementation, financial management, procurement and fixed asset management.
• Compliance of the Grantee with the activities proposed in the project work plans and agreements signed with the SIHA.
• Areas of risk that need to be flagged out to the Grantee management and stakeholders.

6. Documents and Information to be Available for the Auditor:

NAGAAD Network will make available to the auditor, the following documents and records: –

• Have access to all legal documents, correspondences, and any other information associated with the project and deemed necessary by the auditor in the accomplishment of this assignment.
• The Auditor will obtain confirmation of amounts disbursed and outstanding at the Bank.
• The Auditor will access any information and records relevant to this task, include copies of the relevant: Bank Statements, Invoices, project appraisal document; financing agreement; financial management assessment reports; supervision mission reports and implementation status reports.
• Any additional information as requested by the Auditor.

7. Deliverables

The following services and outputs are expected from the Auditor:

• Detailed Audit report.
• Management letter and
• Recommendations if applicable.

The final Audit report should be submitted in hard copy and soft copy of the signed report in PDF format to the Executive Director, who will approve the report.

8. Proposed Methodology

During the implementation of this assignment, the Auditor will undertake his/her assignment independently and according to the Terms of Reference agreed.

The methodology to be proposed by the Auditor in the implementation of this assignment may cause revision of the proposed methodology before the commencement of this assignment.

9. Timeframe

The services of the Auditor will be engaged for a period of Ten days (10) and planned proposed schedules is from 15^th February – 24^th   February 2022. The activity plan proposed below will be reviewed and agreed by the consultant and NAGAAD commencement of the assignment.

10. Profile of the Auditor consultant

The auditor should be experienced in applying either International Standards on Auditing (ISA) or International Organisation of Supreme Audit Institutions (INTOSAI) audit standards, whichever is applicable for this audit. The auditor must employ adequate staff with appropriate professional qualifications and suitable experience with ISA or INTOSAI standards, including experience in auditing the accounts of entities comparable in size and complexity to the organisation being audited.

The following shall be essential:-

• Minimum of Certified Chartered Accountant or CPA from recognized institution.
• Must be from registered institution or Audit association firm.
• Extensive experience in Auditing services with similar LNGOs and INGOs.
• Knowledge and experience of using participatory methodologies in the execution of this assignment.
• Knowledge and understanding of project based Auditing services.
• Proficiency in computer skills.

11. Supervision and management

The consultant will report to and receive initial briefing from the Executive Director at the head office of NAGAAD and will be under the direct supervision of the Executive Director.

12. Terms and conditions of service

During the assignment, NAGAAD will provide the consultant such necessary resources required for the successful execution of the assignment. This will include transport, and any other relevant support requested by the consultant.

13. Procedure of Application:

Those interested in applying can send their proposals to NAGAAD NETWORK office through Email:nagaad.org2017@gmail.com with email subject of: “SIHA NETWORK  Provision of Audit Services for” WE CANT WAIT PROJECT” not later than 9^th  February 2022.

Deadline for the application submission is 9^th February 2022.

 All applications will be reviewed on rolling basis

Address: NAGAAD NETWORK Somaliland, Badcas Area, Hargeisa, Somaliland

Tell: +252 2 527163