Request for Proposals for the Audit of AFR Implementing Partners: (Deadline 22 March 2021)
Advert for Audit of AFR Implementing Partners
Background
Access to Finance Rwanda (AFR) is a Rwandan not for Profit organization, established in March 2010 by the governments of the United Kingdom (UK) and Rwanda and with support from the Foreign, Commonwealth, and Development Office (FCDO), Existing funders of AFR include FCDO, USAID, the MasterCard Foundation and Sweden.
AFR’s strategic focus is stimulating financial sector development by partnering with financial institutions and other stakeholders to increase access to and use of financial services. We identify and address constraints that prevent the financial market from reaching Rwanda’s low-income population, and promote innovations and learning that result in sustainable change in the financial sector. Improving access to financial services for the rural poor and women is a particular focus.
It’s in this regard that access to finance Rwanda is seeking for audit firm to conduct a financial audit for eleven (11) Implementing Partners (IPs) with an estimated budget of 1.9 billion Rwandan Francs.
Objectives of the Audit
The objective of the audit is for the auditors to express an independent opinion on the financial statements related to AFR project as per the grant closure period of the implementing partners as stipulated by the grant agreements and on the soundness of the organization’s internal control systems to achieve its objectives.
Scope of the Audit Assignment
The auditor will:
a) Carry out tests of transactions as necessary, and will obtain an understanding of the entity accounting system, to assess its adequacy as a basis for the preparation of the organization’s financial statements to establish whether adequate records have been maintained;
b) Confirm that appropriate internal control framework is in place to provide reasonable assurance on the operations of the organization, efficient use of resources, and reliability of the financial reports and;
Auditors will assess whether:
a) Donor funds and other resources have been accounted for and used in accordance with the conditions of the grant agreement, as per the AFRs’ applicable policies /procedure /guidelines and other relevant instruments, with due attention to economy and efficiency, and only for the purposes for which the funding was provided.
b) Goods and services financed have been procured in accordance with sound procurement
practices spelled out in the entity’s relevant operating manuals and procedures,
c) All necessary supporting documents, records, and accounts have been kept in respect of all organization activities, with clear linkages between the books of accounts and reports.
d) The overall internal control framework as well as the risk management, and the existing
practices and procedures are sound and they are complied with.
e) The disbursements made by AFR are properly recorded and are shown as a note or
attachment to the financial statements.
f) The amounts claimed from AFR by the implementing partner and the disbursements are reconciling.
g) Expenditures from AFR funds are made in line with the grant agreement, approved
budget and work plans, applicable procedures, and guidelines. 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 AFR funded project at closure or at the end of the reporting period
How to Apply
All interested and qualified firms should submit their proposals (both Technical and Financial) separately, marked with a clear subject line: “Audit of AFR Implementing Partners” to [email protected] no later than Monday 22nd March 2021 at 05:00 pm Central African Time (CAT).
Interested firms should send an email to [email protected] expressing their interest in this assignment by Friday 12th March 2021.
KEYNOTE: Follow this link to the AFR website Request for Proposals for The Audit of AFR Implementing Partners – Access to Finance Rwanda detailed information on this advertisement.
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