External audit services for Three Stones International Rwanda Ltd

1. Company Profile

Three Stones International Rwanda Ltd (TSIR) was established in Rwanda to support and build the capacity of local organizations. Operational since 2012, Three Stones has conducted over 100 assessments, evaluations, and social research assignments, as well as more than 40 strategic and action plans for local and international organizations.

2. Our Mission

Three Stones International Rwanda Ltd (TSIR) leverages our cumulative contextual knowledge and nurtured relationships to deliver comprehensive empirical studies, high-quality data evaluations and targeted technical assistance across the development sector.

We build productive relationships between sectors to make a positive, sustainable, and lasting impact. The time and attention invested to ensure we understand context, foster collaboration, and incorporate innovation with local solutions and provide the highest quality of development expertise makes us agile and unique.

3. Our Core Activities

TSIR Ltd has three cores, overlapping domains:

Business Transformation & Capacity Building

Provide and support local and governmental system strengthening to achieve intended results. Ensure that programs are successfully implemented and continue through an ongoing process of strategic and business planning, cost-effectiveness and impact analysis, policy advocacy, staff training, team building and leadership development.

Smart Development

Provide short or long-term integrated social sector implementation and technical assistance. Areas of expertise include: agriculture; social and behavior change (SBC); climate change; early childhood development; education; finance; gender; governance, youth and livelihoods; migration; technology and Health: Adolescent Sexual Reproductive Health and Rights, HIV/AIDS, Maternal and Child Health, WASH, and nutrition.

Evaluation, Assessment & Research

Provide full life cycle from methodology and tool development to management of data collection and analysis. Expertise in: program analysis; baseline, midterm, end-line studies; end-user monitoring; impact assessments; and social research studies.

4. Scope of work

The consulting firm will conduct a full financial audit for tax compliance and filing with RRA for 2022 on all of our Rwanda operations, period Jan-Dec 2022. The external auditor shall be required to perform risk-based audits, compliance audits and performance-based audits.

Specifically, the auditing firm will perform the following tasks:

• Conducting independent audits of TSIR operations in line with International Standards on Auditing and International Financial Reporting Standard;
• Expressing an opinion on whether the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting standards and frameworks;
• Assessing whether TSIR has maintained proper books of accounts, and whether the accompanying financial statements give a true and fair view of the financial position and performance of the organization;
• Reviewing and evaluating TSIR internal control system and advising the management on adequacy/effectiveness of the system and proposals for its improvement;
• Assessing utilization of resources for effectiveness, efficiency, and economy as well as identification of opportunities for improvement;
• Ensuring the organization adheres to corporate governance requirements and legislation that govern the organization;
• General review of implementation of programs to ascertain whether they are consistent with program objective as set in program designs.

5. Required profile of the Audit Firm

Bidding firms will be required to meet the following criteria:

• Be on approved list of ICPAR and USAID, and must hold a current Practicing Certificate;

• Should demonstrate that it has the capacity, capability and experience required to undertake the audit within required timelines;

• The firm should demonstrate adequate experience in auditing companies and USAID funded projects;
• Provide 3 proof of experience with clients for external audit services and their contact details;
• Provide a certificate of registration by RDB;
• Taxes clearance from RRA and RSSB.

6. Proposal Submission requirements

Firms meeting the above criteria are requested to submit their proposals in one PDF format containing the following:

1. Technical Proposal containing:
2. Confirmation of the firm’s understanding of the Terms of Reference (TORs) and its capacity and capability to deliver on the TORs;
3. The methodology, work-plan and timelines for undertaking and completing the assignment, and the deliverables;

• Appropriate references to demonstrate the experience specified in the TOR;

7. Other requirements expressed in point 7.
8. Financial Proposal:

Indicating the proposed fees for a regular audit and any incidental expenses.

7. Evaluation of Proposals

Submitted proposals will be evaluated by TSIR Tender Committee and will take into account the following evaluation criteria:

• The firm adheres to the instructions in this call;
• Supporting documents as requested in point 7;
• The firm’s qualifications, experience and location (20 marks);
• The firm’s experience and performance on comparable external audit engagement (20 marks);
• Adequacy of Audit Approach, including the specific approach to the entity wide review of internal controls and the risk assessment model (30 marks);
• Qualifications and experience of the key personnel proposed for the mission (30 Marks).

The minimum technical score shall be 70%. The overall technical weight shall be 70% and 30% for the financial score.

8. How to submit:

Send your proposal to Three Stones International Rwanda Ltd.  All documents should be in one pdf document  and will be sent by email to :  operations@threestonesinternational.com  and by Friday 6th January 2023 5:00PM. Questions about the tender may be emailed to:  operations@threestonesinternational.com

Done at Kigali, 22/12/2022

Valence Twagizihirwe

Managing Director