Call For Proposals For Audit Of Africa Development Consultant Ltd-Financial Accounts For The Year Ended December 31, 2022
Date: January 11, 2023
1. Introduction
Africa Development Consultant Limited (ADC) located at Tedeum building/House No 44, KN 5 RD, Remera Sector, Gasabo district, Kigali executed Cooperative Agreements (CAs) with the United States African Development Foundation (USADF) with reference 5742-RWA and 6012-RWA and other assignments for the period January 1 to December 31, 2022, thus an external audit services for the organization is now being sought.

2. Objective of the audit
The objective of the audit is to perform an organization-wide audit of the financial statements i.e. Balance sheet, Income statement and Cash flow statement. The audit is to include the audit of Cooperative Agreements with USADF which were active during the period mentioned above, audit for financial statements of the non- USADF assignments. The audit will be conducted in accordance with US Government Auditing Standards (``Yellow Book``, revised 2007) issued by the Comptroller General of the United States and generally accepted auditing standards adopted by the American Institute of Certified Public Accountants (AICPA) and Rwanda Government Audit Standards.

3. Responsibilities of the auditor
Unless otherwise stated, the audit period is from January 1st to December 31, 2022 and the auditor will
• express an opinion on whether the fund accountability statement presented for CA 5742-RWA and 6012-RWA, the basic financial statement to be audited, for the USADF-funded programs presents fairly, in all material respects, revenues received, costs incurred, cash balance of funds provided by USADF and commodities and technical assistance directly procured for the period audited in conformity with the terms of the agreements and generally accepted accounting principles or other comprehensive basis of accounting (including the cash receipts and disbursements basis and the compliance with cash basis). Each grant Cooperative Agreement is presented under a separate Fund Accountability Statement.
• Obtain a sufficient understanding and evaluate the ADC internal control structure, assess control risk, and identify significant deficiencies, including material internal control structure weaknesses. This evaluation should include the internal control related to required cost-sharing contributions, if applicable.
• Perform tests to determine whether ADC complied, in all material respects, with the cooperative agreement terms and applicable laws and regulations related to Service Contract
• A contract of service will be discussed and signed between the Audit firm representative and Africa Development Consultant Ltd (ADC) representative. The contract and the terms of reference will guide performance of the contract, and is basis for performance evaluation.
• All material instances of noncompliance and all illegal acts that have occurred or are likely to have occurred should be identified.
• express an opinion on the financial statements
• (Where applicable) determine if adequate corrective actions have been taken on prior audit report recommendations.

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4. Qualifications and Special Audit Requirements
To be responsive to the RFP, the auditing firm’s technical profile must address the following;
• The audit firm’s principals should be members of the local or foreign recognized professional accounting associations, such as Institute of Chartered Accountants, or the Institute of Certified Public Accountants.
• The audit must be performed in accordance with U.S. Government Auditing Standards (“Yellow Book,” revised 2007) issued by the Comptroller General of the United States and generally accepted auditing standards adopted by the American Institute of Certified Public Accountants (AICPA), which have been incorporated in the U.S. Government Auditing Standards by reference and the Rwanda Audit Standards.
• The organization itself should possess adequate professional competence to carry out the assignment. Individuals proposed to perform the audits should, by education and training, have the capabilities to carry out their proposed tasks.
• The organization should have staff with capabilities to write good report in the English.
• Audit Firms certified by the USAID Regional Inspector General (RIG) has added advantage in auditing the ADC Cooperative Agreements with USADF.
In addition to the above criteria, ADC will seriously consider firms with a reasonable price structure for both components of the company activities.
The cost estimate section of the proposals should be presented in two categories, (i) professional fees, and (ii) reimbursable expenses. Professional fees must show position of the auditor, hourly rate, number of hours of audit time, and total fees. Reimbursable expenses include, but not limited to, accommodation, transportation, courier, and telephone. Please note that audits must be conducted at the grantee’s place of business. The proposal should present a timeframe for the following fieldwork dates and deliverables:
• Fieldwork start date no later than fifteen (15) days after the contract signature.
• Fieldwork end date no later than thirty (30) days after the field work start date.
• Audit findings and preliminary audit recommendations presented to ADC and USADF at the exit conference planned before the field work end date.
• Draft Audit Report for the CAs and non USADF business presented to ADC Auditor within ten (10) working days after receipt of management comments to findings presented in the Management Letter. The draft Audit Report for the CAs will also be sent to USADF Senior Auditor for review.
• Final Audit Report within ten (10) working days from approval of draft audit report.
• The Final Audit Report and Management Letter are to be provided in English.

5. Presentation and submission of bids/offers
Proposal in pdf format are to be submitted to info@adcrwanda.org not later than January 25, 2023 (Wednesday) at 5.00 pm
The proposal must be comprised of.
(a) Submission letter signed by the audit firm legal representative and specifying the total cost required to complete the assignment mentioned above, all local taxes inclusive.
(b) Company profile
(c) Proposed methodology
(d) Audit timeframe
(e) Detailed CV of the consultants assigned to the assignment
(i) Copies of their degree certificates.
(ii) Certificates of previous similar assignments accomplished including that related to audit of US Government funded Projects.
(iii) Break down of the requested costs depending on the remuneration of the assigned team members and their field expenses.

6. Contracting:
After the selection of the best responding offer, a consulting contract will be signed between the selected consulting firm and ADC Program Director for the audit of the Company Financial Accounts.

7. Deliverables
At the end of the audit, the following reports will be submitted to ADC;
• Audit report for the cooperative agreements (5742-RWA for the period from January 1st, 2022 to September 30, 2022 and 6012-RWA for the period from October 1st to December 31, 2022).
• Audit Report for ADC, non –USADF activities for the period from January 1st to December 31, 2022
• Company Audited Consolidated Financial Statements for the year ended 31, 2022
• Management Letter to ADC board.

8. Terms of payment:
100% of the contract amount will be paid after submission and approval of the above mentioned deliverables.

9. Service Contract
A contract of service will be discussed and signed between the Audit firm representative and Africa Development Consultant Ltd Managing Director. The contract and the terms of reference will guide performance of the contract, and is basis for performance evaluation.
Should you require clarifications which may guide you to prepare your offer, please contact us on info@adcrwanda.org before Friday January 20, 2023.
Sincerely,
Rebecca Ruzibuka
Managing Director of Africa Development Consultant Limited