Provision of Audit Services for Fiscal Years 2022, 2023 And 2024
German Sparkassenstiftung (DSIK) is a German non-profit organization that is registered as an international non-governmental organization in Rwanda since 2009.

Terms Of Reference
Introduction
German Sparkassenstiftung for international Cooperation (DSIK) was established in 1992 with the global mission of financial sector development and financial inclusion in developing countries. Since 2009, DSIK has been permanently active in partnership projects with focus on strengthening of the microfinance sector and vocational education in Rwanda. Currently, the German Federal Ministry of Economic Cooperation and Development is financially supporting projects which are implemented in collaboration with the Rwanda Institute of Cooperatives, Entrepreneurship and Microfinance (RICEM), the Rwanda Cooperative Agency (RCA), the Université Libre de Kigali (ULK), the National Confederation of Cooperatives in Rwanda (NCCR), as well as with the Government of Rwanda, in particular with the Ministry of Trade and Industry (MINICOM) and the Ministry of Finance and Economic Planning (MINECOFIN). The ongoing project activities in Rwanda are organized in two regional programs in Eastern Africa. DSIK EA is operating in Rwanda, Burundi, Kenya, Tanzania, and Uganda and is in close exchange with DSIK project activities in more than 50 countries worldwide. The activities in Rwanda are in accordance with the Rwandan national development strategies, Vision 2050, and the National Strategy for Transformation (NST).
Registered as an international NGO, DSIK is, according to the Rwandan Income Tax Law, providing financial reports about the recent fiscal year on an annual basis to Rwanda Revenue Authority (RRA). For auditing financial statements, DSIK seeks to hire an audit firm (hereinafter referred to as audit firm) registered by the Institute of Certified Public Accountants of Rwanda (iCPAR).

Objectives Of The Audit And Audit Firm´S Responsibilities
The objective is to audit and certify Financial Statements of DSIK as of December 31st, for the years 2022-2024.
Accounting and preparation of financial statements will be conducted by DSIK in accordance with the International Financial Reporting Standards (IFRS) and as per International Public Sector Accounting Standards (IPSAS). The Audit Report should be in accordance with International Standards on Auditing (ISAs) as applicable in Rwanda.
The following results must be provided by the audit firm until March 3rd of the following year, for the financial statements of the years 2022-2024:
• Expressing an opinion on whether the Financial Statements are prepared, in all material respects, in accordance with the applicable frameworks, whether the organization has maintained proper books of accounts, and whether the accompanying financial statements give a true and fair view of the financial position of the organization for the financial years 2022, 2023 and 2024.

Dsik Management´S Responsibilities:
• Provide access to all information of which management is aware that is relevant to the preparation of the financial statements such as account records, documentation, and other matters.
• Provide additional information that the audit firm may request from management for the purpose of the audit as for example procedure manuals, legal documents, bank statements, correspondences, and any other information associated with the project.
• Provide unrestricted access to persons within DSIK from whom the audit firm determines it necessary to obtain relevant data or information.

Availability Of Documents
The audit report should be received by DSIK no later March 3rd, of the following year.

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Minimum Requirements
Bidding firms will be required to meet the following criteria:
• Be registered with the Institute of Certified Public Accountants of Rwanda (iCPAR) and all suggested personnel must hold current practicing certificates
• The audit firm to be of good standing with iCPAR and should not have been subject to any disciplinary action by iCPAR or any other related professional bodies
• Have a system of quality control in the provision of audit and assurance services
• Should demonstrate that it has the capacity, capability and experience required to undertake the audit within the required timelines
• In addition, the audit firm should demonstrate experience in serving as an auditor for International Non-Governmental Organizations in Rwanda for at least 2 years
• The accountant’s team may not comprise of more than one junior staff (having experience of less than 1 year with the firm).

Submission Procedure
Interested bidders should submit their expression of interest together with the following documents:
a) Technical Proposal containing:
• Confirmation of the firm’s understanding of the Terms of Reference (ToR) and its capacity and capability to fulfill the minimum requirements and deliver on the ToR.
• The audit methodology/approach with work plan and timelines for undertaking and completing the assignment, and deliverables.
• The CVs of the key staff proposed to do the assignment
• Proof of registration with ICPAR and Practicing Certificates
• Provide 3 references of recent similar experience in performing audit services for International Non-Governmental Organizations in Rwanda; references should include certificates of completion of past clients including name of organization, contact person, contact number, and email address, nature of service and period of the assignment. The references should not be older than 3 years (not before 2019).
• Valid tax clearance certificate from Rwanda Revenue Authority
• Bidding firms should indicate the complete name of the company/firm: Contact Person and function, Phone Number, E-mail address, Physical address, PO Box if available.

b) Financial Proposal indicating the proposed fees and expenses:
• Bidding firms should indicate the proposed fees (taxes inclusive).
• Financial Proposal to be given in RWF.

Interested audit firms that meet the above minimum requirements under 5. should send both Financial and Technical Proposals including full company profile (ICPAR registration, staff information and CVs, references, tax clearance, etc.) and approach to deliver the assignment as 2 PDF attachments (one for full Technical and one for Financial Proposal) to procurement.rwanda@sparkassenstiftung.de on or before 31st October 2022. Please indicate “DSIK-RW/FIN/001/2022-External Auditor” in the subject line of your email application.
Please note that only applications via e-mail will be accepted. Hard copy documents will not be accepted for the procurement process.
The evaluation results will be communicated through the respective e-mails or telephone number given on the bidder´s application documents. DSIK reserves the right to accept or reject any or all tenders without assigning any reason.
For further information, please contact Gisele Mugeni, Finance and Administration Officer via Tel: 0789528376 or E-mail: Gisele.Mugeni@dsik.de
Ruth Madl
Country Director- Rwanda
German Sparkassenstiftung Eastern Africa (DSIK)