Terms of Reference (ToR) for Consultant Review of Financial Management Systems, Audit and Compliance at KNCV Nigeria
Background
KNCV Nigeria is a non-governmental organization committed to enhancing public health systems and eliminating tuberculosis in Nigeria. KNCV Nigeria is committed to strengthening its financial management systems, compliance protocols, and overall staff capacity in handling financial matters and to this end, periodically conducts financial assessments. In line with the above, KNCV Nigeria seeks to engage a consultant to conduct a thorough review of its financial management systems, audit and compliance practices, and staff competencies.
Objective of the Consultancy
The primary objective of this consultancy is to evaluate the current financial management systems of KNCV Nigeria, assess the effectiveness of audit and compliance mechanisms, and analyze the capacity of staff involved in financial processes. The consultant will provide actionable recommendations to enhance financial accountability, mitigate risks of fraud, and strengthen operational integrity.
Scope of Work
The consultant will undertake the following specific tasks:
- Review Financial Management Systems
- Assess the current financial management systems in place, including accounting software, processes for financial reporting, and internal controls.
- Identify gaps and weaknesses in the financial management systems that may contribute to vulnerabilities or inefficiencies.
- Evaluate adherence to international standards and best practices in financial management
Audit and Compliance Evaluation
- Review existing audit mechanisms, including both internal and external audit practices, to determine their effectiveness.
- Assess compliance with relevant laws, regulations, and donor-specific requirements.
- Identify any lapses or instances of non-compliance and provide recommendations for improvement.
Capacity Assessment of Staff
- Evaluate the skills and competencies of staff involved in financial management, including accountants, finance officers, and related personnel.
- Identify training needs and areas for capacity building to enhance staff performance and accountability.
- Make recommendations on succession planning and staff development strategies.
Compilation of Findings and Recommendations
- Prepare a comprehensive report documenting findings from the above assessments.
- Provide prioritized recommendations for enhancing financial management practices, audit procedures, compliance measures, and staff training initiatives.
Methodology
The consultant will adopt a mixed-methods approach, utilizing both qualitative and quantitative techniques, including:-
- Document reviews (policies, financial reports, audit outcomes, etc.)
- Interviews with key staff and stakeholders
- Surveys, as necessary, to gather broader perspectives
- On-site observations of financial processes and workflows
Deliverables
The consultant is expected to produce the following deliverables:
- An inception report outlining the methodology and work plan.
- A comprehensive report detailing findings, analyses, and recommendations.
- A presentation of the report to KNCV Nigeria’s management and relevant stakeholders.
- A capacity-building plan tailored to the identified needs of staff.
Timeline
The consultancy is expected to commence on 1st of April and conclude by 30th April, with the following milestones:
- Inception report due by 1st week.
- Draft report due by 3rd week.
- Final report and presentation should be due by 30th April.
Qualifications of the Consultant
The ideal consultant should possess:
- Advanced degree in finance, accounting, business administration, or a related field.
- Proven experience in financial management systems evaluation, compliance audits, and organizational development.
- Strong understanding of the non-profit sector and familiarity with donor regulations.
- Excellent analytical, communication, and report writing skills.
Budget
- Budget proposals should include consultancy fees, any operational costs (travel, accommodation, etc.), and other relevant expenses. Fee structures should be transparent and justifiable.
Application Process & Requirements
Interested consultants should submit a proposal that includes:
- A cover letter expressing interest and suitability for the project.
- A detailed CV or organizational profile.
- A brief outline of proposed methodology and work plan.
- A budget breakdown.
- References or case studies of similar work conducted previously.
- TIN Number or Tax Declaration in the last 2 year.
- All application documents and interest should be sent to [email protected] with vacancy title above as a subject.
Reporting Line
The consultant will report directly to the Executive Director at KNCV Nigeria.
Confidentiality
All information and data accessed during the consultancy must be treated with the highest level of confidentiality and used solely for the purpose of this consultancy.
