FORUM
FOR AFRICAN WOMEN EDUCATIONALISTS
FOR AFRICAN WOMEN EDUCATIONALISTS
(FAWE)
RWANDA
CHAPTER
CHAPTER
“Supporting
girls and women to acquire education for development”
girls and women to acquire education for development”
TERMS
OF REFERENCE FOR THE PROVISION OF EXTERNAL AUDIT SERVICES FOR THE FINANCIAL
YEARS2014 AND 2015 TO FAWE RWANDA CHAPTER
OF REFERENCE FOR THE PROVISION OF EXTERNAL AUDIT SERVICES FOR THE FINANCIAL
YEARS2014 AND 2015 TO FAWE RWANDA CHAPTER
- BACKGROUND:
FAWE
Rwanda Chapter started in 1997 a
Rwanda Chapter started in 1997 a
s a chapter of the regional Forum for African
Women Educationalists (FAWE), which is a Pan-African organization operating in
34 African countries and having its headquarters in Nairobi. This organization
was created in 1992 with the purpose of providing education for girls and women
who for long had been marginalized in the education system. FAWE Rwanda Chapter
was initiated by a group of visionary women who, believe that girls’ and
women’s education was a key factor for Rwanda’s development. FAWE Rwanda has
grown to become a key partner of the Ministry of Education and focal point on
girls’ education in Rwanda.
It
is against this background that FAWE Rwanda secretariat intends to engage an
independent external auditor for the two years 2014 and 2015.
is against this background that FAWE Rwanda secretariat intends to engage an
independent external auditor for the two years 2014 and 2015.
The
audit shall be carried out in accordance with international audit standards
issued by International Organization Federation of Accountants (IFAC). The
audit shall be carried out by an external, independent and qualified auditor
(Certified Public Accountant/Authorized Public Accountant).
audit shall be carried out in accordance with international audit standards
issued by International Organization Federation of Accountants (IFAC). The
audit shall be carried out by an external, independent and qualified auditor
(Certified Public Accountant/Authorized Public Accountant).
- OBJECTIVE
OF AUDIT
2.1
The objectives of this audit are to enable the Auditor to express an audit
opinion in accordance with ISA 800 on whether:
The objectives of this audit are to enable the Auditor to express an audit
opinion in accordance with ISA 800 on whether:
- The
consolidated financial statements of FAWE Rwanda for the year ended 31 December
2014 & 2015 presents, in all material respects, in conformity with the
applicable Agreement Terms and Conditions of the agreement; and - The
revenue and expenditure of FAWE Rwanda for the year ended 31 December 2014
& 2015 presents, in all material respects, in conformity with the
applicable Agreement Terms and Conditions of the financing agreement.
2.2
FAWE Rwanda books of accounts provide the basis for preparation of those
financial statementsand are established to reflect the financial transactions
andmaintain adequate internal controls and supporting documentation for
transactions.
FAWE Rwanda books of accounts provide the basis for preparation of those
financial statementsand are established to reflect the financial transactions
andmaintain adequate internal controls and supporting documentation for
transactions.
- SCOPE
OF WORK
The
scope of external audit work entails testing and evaluating the adequacy and
effectiveness of the organization’s systems of internal control and to make
recommendations.
scope of external audit work entails testing and evaluating the adequacy and
effectiveness of the organization’s systems of internal control and to make
recommendations.
- Review
the effectiveness and efficiency of the financial and human
resourcemanagement process. - Appraising
the effectiveness and efficiency with which resources are employed
andidentifying opportunities to improve operating performance. - Review
the reliability and integrity of financial and operating information and
themeans used to identify measure, classify and report such information. - Review
the systems established by management to ensure compliance with
thosepolicies, laws, regulations and controls that could have a
significant impact onoperations and determine whether the organizations is
in compliance with itsfinancial, administrative and property management
procedures and other relevantlegislation that governs the Organization. - Ensure
that the organization adheres to the corporate governance requirements
asprescribed in the organization’s internal rules and regulations. - Reviewing
operations or programs to ascertain whether the results are consistent
withestablished objectives or goals and whether the operations or programs
are beingcarried out as planned.
In
accordance with International Standards on Auditing, the auditors shall pay
attention to the following:
accordance with International Standards on Auditing, the auditors shall pay
attention to the following:
(a)
Fraud and Corruption: In accordance with ISA 240 (The Auditor’s Responsibilities
Relating to Fraud in an Audit of Financial Statements) the auditors shall
identify and evaluate risks related to fraud,obtain or provide sufficient
evidence of analysis of these risks and assessproperly the risks identified or
suspected;
Fraud and Corruption: In accordance with ISA 240 (The Auditor’s Responsibilities
Relating to Fraud in an Audit of Financial Statements) the auditors shall
identify and evaluate risks related to fraud,obtain or provide sufficient
evidence of analysis of these risks and assessproperly the risks identified or
suspected;
(b)
Laws and Regulations: In preparing the audit approach and in executing
the audit procedures, the auditors shall evaluate FAWE Rwanda’s compliance with
the provisions of laws and regulations that might impact significantly the
Financial Statements as required by ISA 250 (Considerations of Laws
andRegulations in an Audit of Financial Statements);
Laws and Regulations: In preparing the audit approach and in executing
the audit procedures, the auditors shall evaluate FAWE Rwanda’s compliance with
the provisions of laws and regulations that might impact significantly the
Financial Statements as required by ISA 250 (Considerations of Laws
andRegulations in an Audit of Financial Statements);
(c)
Governance:
Communicate with the FAWE Rwanda Management responsible for Governance
regarding significant audit issues related to governance in accordance with ISA
260: (Communication with those charged withGovernance); and
Governance:
Communicate with the FAWE Rwanda Management responsible for Governance
regarding significant audit issues related to governance in accordance with ISA
260: (Communication with those charged withGovernance); and
(d)
Risks:
With a view to reducing audit risks to a relatively low level, the auditors
will apply appropriate audit procedures and handle anomalies/risks identified
during their evaluation. This is in accordance with ISA 330 (The Auditor’s
Responses to Assessed Risks).
Risks:
With a view to reducing audit risks to a relatively low level, the auditors
will apply appropriate audit procedures and handle anomalies/risks identified
during their evaluation. This is in accordance with ISA 330 (The Auditor’s
Responses to Assessed Risks).
4.
TECHNICAL REQUIREMENTS
TECHNICAL REQUIREMENTS
The
qualified auditing firm should exhibit the followings: – Explanation of the
approach to performing an external audit, including the audit methodology, nature,
timing and extent of audit procedures to be performed;
qualified auditing firm should exhibit the followings: – Explanation of the
approach to performing an external audit, including the audit methodology, nature,
timing and extent of audit procedures to be performed;
-Providing
an activity plan (project plan) of actions to achieve the objectives of the
external audit function, specifying budgeted hours, timelines and sequence for
its audit procedure and level of staff to be assigned;
an activity plan (project plan) of actions to achieve the objectives of the
external audit function, specifying budgeted hours, timelines and sequence for
its audit procedure and level of staff to be assigned;
The
technical proposal shall include the following:
technical proposal shall include the following:
- Company
registration certificate, - VAT
certificate, - Tax
clearance certificate, - RSSB
contribution clearance certificate, - CVs
of qualified Auditors proposed for this assignment, - Proof
of successful completion of similar assignment in the last 3 years.
5.
SUBMISSIONS
SUBMISSIONS
Applications/submission
should be addressed to the: National Coordinator of FAWE Rwanda not later than30th
June 2016, by submitting a sealed envelope containing technical and
financial offer with the
title “FAWE
Rwanda audit services”to FAWE Rwanda office located at MINEDUC
Building, 1st Floor, Room 118 at Kacyiru, Gasabo District, Kigali City.
should be addressed to the: National Coordinator of FAWE Rwanda not later than30th
June 2016, by submitting a sealed envelope containing technical and
financial offer with the
title “FAWE
Rwanda audit services”to FAWE Rwanda office located at MINEDUC
Building, 1st Floor, Room 118 at Kacyiru, Gasabo District, Kigali City.