Terms of Reference for External Audit Services for FY 2024 at SNV Rwanda
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Terms of Reference for External Audit Services for FY 2024

EOI No.:

EOI / 003/2024

OPENING DATE:

November 27, 2024

CLOSING DATE:

December 13, 2024

CLOSING TIME:

17:00 Kigali time

DESCRIPTION:

External Audit Services for Fiscal Year 2024

FUNDED BY:

SNV Rwanda

SNV Background

SNV Netherlands Development Organisation is one of the largest Dutch, development organisations with operations in more than 25 countries in Asia, Africa and Latin America. SNV aims to lift up incomes and access to basic services. We make a lasting difference in the lives of people living in poverty, helping them raise incomes and access basic services. Driven by the Sustainable Development Goals, we are dedicated to a society in which all people are free to pursue their own sustainable development, and no one is left behind. This commitment to equity directs us to focus on gender and youth.

We apply our know-how to realise effective solutions and deliver results at scale worldwide. We do this through our local presence and our specialised expertise in agrifood, energy, and water. Our projects directly benefit millions of people. At the same time, our projects drive systems change, which helps many more people work their way out of poverty, well beyond the scope of the projects themselves. We are proud to be a not-for-profit organisation, implementing our mission exclusively through project financing. This requires us to work efficiently and to invest in operational excellence every day.

ETHICAL AND BUSINESS CONDUCT REQUIREMENTS 

SNV is committed to integrity in procurement and only selects suppliers based on objective business criteria such as price and technical merit.

SNV does not tolerate fraud, collusion among offerors, falsified proposals/bids, bribery, or kickbacks. Any firm or individual violating these standards will be disqualified from this procurement, barred from future procurement opportunities, and may be reported to both the Office of the Inspector General.

Employees and agents of SNV are strictly prohibited from asking for or accepting any money, fee, commission, credit, gift, gratuity, object of value or compensation from current or potential vendors or suppliers in exchange for or as a reward for business. Employees and agents engaging in this conduct are subject to termination and will be reported to the Office of the Inspector General. In addition, SNV will inform the Office of the Inspector General of any supplier offers of money, fee, commission, credit, gift, gratuity, object of value, or compensation to obtain business.

Offerors responding to this ToR must include the following as part of the proposal submission:

  • Disclose any close, familial, or financial relationships with SNV or project staff. For example, if an offeror’s cousin is employed by the project, the offeror must state this.
  • Disclose any family or financial relationship with other offerors submitting proposals. For example, if the offeror’s father owns a company that is submitting another proposal, the offeror must state this.
  • Certify that the prices in the offer have been arrived at independently, without any consultation, communication, or agreement with any other offeror or competitor for the purpose of restricting competition.
  • Certify that all information in the proposal and all supporting documentation are authentic and accurate.
  • Certify understanding and agreement to SNV’ prohibitions against fraud, bribery, and kickbacks.


Objective:

The objective of the audit is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes an opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted by International Standards on Auditing (ISAs) will always detect a material misstatement when it exists. Misstatements arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The primary focus is to examine SNV Rwanda’s financial records by the applicable financial reporting standards, Rwandan Taxation, and whether the organization maintains proper books of accounts, and whether the accompanying financial statements give a true and fair view of the financial position of the organization

Scope of the audit:

This is full scope audit covering the period from January 2024 to December 2024; auditors will be required to carry out sufficient audit steps and procedures to ensure that the objectives are met. The location of audit will be at SNV Rwanda Country office in Kigali. This audit needs to be completed by 15 March 2025.

SECTION 1: TERMS OF REFERENCE (TOR)

The auditor’s responsibilities shall include the following:

  • Conducting independent audit of SNV Rwanda’s Financial Statements in line with the International Standards on Auditing and International Financial Reporting Standards
  • Expressing an opinion on whether the Financial Statements are prepared, in all material respects, in accordance with the applicable financial reporting standards and frameworks, whether the agency has maintained proper books of accounts, and whether the accompanying financial statements give a true and fair view of the financial position of the agency.
  • Obtain an understanding of the internal controls relevant to the audit scope in order to design audit procedures that are appropriate in the circumstances, but not to express an opinion on the effectiveness of the entity’s internal control. The auditor will just communicate to SNV in writing concerning any significant deficiencies in internal control relevant to the audit of the financial statements only.
  • Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the organization’s ability to continue as a going concern. Auditors' conclusions must be based on audit evidence obtained up to the date of the auditors' submitted audit draft report.
  • Evaluate the overall presentation, structure, and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
  • Developing harmonized reporting formats required for Annual Financial Reporting and preparing consolidated financial statements as required by the Rwanda Revenue Authority.
  • Filing financial statements with the Rwanda Revenue Authority.

SECTION 2: DELIVERABLES

The expected deliverables are as follows.

  • Report on SNV Rwanda’s Compliance with the Government of Rwanda’s taxation laws.
  • Financial Statements for the year ended 31 December 2024 in the format required for filling with the Government of Rwanda and filing FY 2024 returns
  • Final audit report and management letter for financial statements for the year ended 31 December 2024

SECTION 3: REQUIRED PROFILE OF THE AUDIT FIRM

Firms will be required to meet the following criteria:

  • Be registered with the Institute of Certified Public Accountants of Rwanda(iCPAR) and its partners must hold current practicing certificates.
  • Its partners must be of good standing with iCPAR, while the Firm and its Partners should not have been subject to any disciplinary action by iCPAR or 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 required timelines.
  • In addition, the Firm should demonstrate experience in auditing International Non-Governmental Organizations

SECTION 4: TENDER SUBMISSION


Firms meeting the above criteria are requested to submit their proposals at rwandaprocurement@snv.org no later than December 13, 2025, 17:00 Kigali time.

a) Technical Proposal containing:

  • Confirmation of the Firm’s understanding of the Terms of Reference and its capacity and capability to deliver on the TOR.
  • The Audit methodology/approach, work plan and timelines for undertaking and completing the assignment, and deliverables.
  • Appropriate references to demonstrate having the experience specified in the TOR.
  • Provide a list names of staff member(s) who will be assigned to the engagement and/or direct the overall services. Include the curriculum vitae of all the staff members named and professional licenses held.

b) Financial Proposal indicating the proposed fees and expenses 

  • The firm will prepare a fee structure for this engagement in the entire assignment, clearly showing days level of effort and price breakdown per day.
  • The quote should clearly show the detailed direct activities costs
  • SNV Rwanda is subject to the laws of Rwanda and compliant to various statutory laws including tax law. Therefore, the consultant/firm will be reliable for all taxes in accordance with the country's tax laws and regulations.

Firms should submit the following documents with their Technical Proposals:

  • Copy of trade license
  • Proof of registration with ICPAR and Partners’ Practicing Certificates
  • Provide references of recent similar experience in performing external audit services which should be a sample list of past clients including name of organization, contact person, contact number and email address, natureand value of service, and period of the appointment.
  • Proof of auditing firm certification for tax declarations and financial statements that Rwanda Revenue Authority in the year 2023
  • Provide a list of names of staff member(s) who will be assigned to the engagement and/or direct the overall services. Include the curriculum vitae of all the staff members named and professional licenses held.

SECTION 5: Selection Criteria and Weightage

The Selection Committee will assess applicants based on the following criteria:

Motivation letter and company profile (5%)

  • The business profile
  • The responsible official contact details (official email and phone number) Business telephone and fax numbers of the applicant
  • Official E-mail addresses for principal(s) that will be assigned to this engagement The official mailing address of the applicant

Design response and Qualifications (40%)

  • Demonstrate understanding of the terms of reference and intent of the audit
  • Comprehensiveness and adequacy of the responses including the audit work plan, methodology and concrete benchmark and Timeline
  • Relevant Professionals experience and the CVs of the members who will be assigned to the engagement
  • Experience in conducting similar assignment with Track records at least three certificates of good completion

Administrative documents (25%):

  • Proof of registration with ICPAR and Partners’ Practicing Certificates
  • RDB Registration Certificate
  • RRA tax clearance certificate
  • Proof of Auditing firm certification for tax declarations and financial statements for RRRA in year of 2023

Financial Proposal (30%)

  • The audit firm must provide a detailed breakdown of the proposed fees, including personnel rates and estimated total costs based on the time allocated for each role. The total costs should be inclusive of all taxes and other direct expenses, and the firm should justify that the proposed rates are competitive and reflect the value and experience of the team.

Conclusion

These terms of reference are not an offer to enter into an agreement with any party, but rather a request to receive responses from persons or firms interested in providing the required services. Such responses shall be considered and treated by SNV Rwanda as offers to enter into an agreement.

SNV Rwanda and any of its representatives shall not be obligated for the payment of any sum(s) whatsoever to any recipient of these terms of reference until and unless a written contract between the parties is executed and due delivery/performance has been made.

Data Protection assurance

SNV will not retain your Personal Data for longer than is allowed by law or is necessary for the Purposes.

If you are selected and offered employment, the Personal Data you have provided will be used by SNV for the purpose of this bidding administration. If you are unsuccessful on this occasion to secure tender with SNV, SNV will retain your Personal Data for required period for the purpose of any future internal or external audit.

Consultation time spent in preparing a response/contract negotiation to this solicitation will not be compensated by SNV Rwanda.

Job Info
Job Category: Tenders in Rwanda
Job Type: Full-time
Deadline of this Job: Wednesday, December 11 2024
Duty Station: Kigali
Posted: 27-11-2024
No of Jobs: 1
Start Publishing: 27-11-2024
Stop Publishing (Put date of 2030): 27-11-2066
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