December 19, 2024
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December 19, 2024
Terms of Reference for the Audit of the Project “Increased Opportunities for Somali Citizens’ Scrutiny of Fiscal and Financial Governance”.
Grant Contract Identification No/Project Code: NDICI AFRICA /2023/452-712
Deadline |
December 31 ,2024 |
|---|---|
Education: | Master Degree |
Experience: | 10 Years of Working Experience |
Location: |
Background:
Somali Public Agenda is a non-profit public policy and administration research and action organization based in Mogadishu. Its aim is to advance understanding and improvement of public policy and services in Somalia through evidence-based research and analysis, dialogue, policy and service design and training.
At Somali Public Agenda, we believe that all Somalis deserve better public services including access to affordable education, healthcare, housing, security and justice delivered via transparent and accountable authorities.
Our Vision
Somali citizens are able to access public services that are responsive, evidence-based and inclusive.
Our Mission
To increase the capacity of Somali governance institutions, civil society and international partners to deliver effective public services to Somali citizens.
2. Project Overview
Somali Public Agenda (SPA) has been awarded a grant from the European Union (EU) to undertake a project titled “Increased Opportunities for Somali Citizens’ Scrutiny of Fiscal and Financial Governance.” The project commenced on January 1, 2024, and will be implemented in a period of 36 months.
This grant encompasses substantial responsibilities for SPA, particularly in the realms of reporting and compliance. The magnitude and nature of this funding necessitate adherence to the European Union’s rigorous reporting standards and compliance protocols. As such, the management of this grant will involve adapting to these specific EU modalities to ensure effective and transparent utilization of the funds.
3. Preface of the Audit
Somali Public Agenda (SPA) (the beneficiary) is undertaking the process of engaging a professional audit firm to conduct a comprehensive audit for the fiscal year ending on 31st December 2024. This audit pertains specifically to the project funded by the European Union (the contracting authority) with the project title of “Increased Opportunities for Somali Citizens’ Scrutiny of Fiscal and Financial Governance”, underscoring its importance in ensuring financial transparency and compliance with EU-specific regulations in the grant agreement.
The selection of the audit firm will be conducted through a structured and competitive process. This process will begin with the issuance of a detailed Request for Proposal (RFP), which will outline the specific requirements and expectations for the audit. The RFP will include the scope of work, preferred timelines, and necessary qualifications, such as experience with EU-funded projects and adherence to international auditing standards (IAS) and international standards on auditing (ISA) as well.
Prospective audit firms will be invited to submit their proposals, showcasing their expertise, methodological approach, and understanding of the regulatory framework applicable to EU-funded initiatives. SPA will rigorously evaluate these proposals based on criteria such as the firm’s relevant experience, audit methodology, technical capabilities, and cost-effectiveness.
The selected audit firm will be expected to demonstrate a thorough understanding of SPA’s operational contexts and the unique compliance requirements associated with EU funding. Upon selection, a formal contract will be initiated and signed after meeting all the required criteria by detailing all engagement terms, including scope audit work, deliverables, fees, and confidentiality.
This strategic initiative by SPA aims to uphold the highest standards of financial governance and accountability, thereby reinforcing the organization’s commitment to transparency in managing international funding.
4. Objective of the Audit
The primary objective of this audit is to provide an independent professional opinion on the financial statements of the project for the year ending 31 December 2024. The audit will assess whether:
5. Scope of the Audit
The audit will cover:
6. Audit Methodology
7. Deliverables
Notes to the financial statements
8. Qualifications and the Requirements of the Audit Firm
Company profile.
Technical and financial proposal (Audit Methodology, Proposed Plan, CVs for the partner, manager, and key staff proposed for the audit team).
Accreditation by a recognized professional accounting body e.g. AICPA, ICAEW, and or ACCA and etc.
Practicing license of the firm and the individual members who will be involved in the exercise.
Experience of the audit firm with audit reporting under International Standards on Auditing (ISA).
At least three references for similar audits performed within the last three years.
Any actual or potential conflict of interest in taking up this role should be highlighted.
Good standing certificates of the team members from the professional accounting body.
Evidence of experience with audits of organizations similar to SPA and EU Somalia program.
Experience with regulations of international donors (EU, UN, etc).
Should preferably have access to the project implementation area – SPA Mogadishu Office.
Knowledge of systems and procedures of financial management and accounting in the area of good governance, public policy and etc.
The audit firm must have over 10 years of experience in the industry.
9. Timeline and Logistics
10. Confidentiality and Ethical Considerations
11. Deadline for the Submission:
Somali Public Agenda is a non-profit public policy and administration research organization based in Mogadishu. Its aim is to advance understanding and improvement of public administration and public services in Somalia through evidence-based research and analysis.
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