Grow Strong Foundation (GSF) is one of the leading NGOs implementing the humanitarian response to IDPs and other highly vulnerable in North East Nigeria. As part of GSF responsibility to meet the set Goal of its Strategic Plan and project activities, the organization is seeking for a qualified auditing firm to apply as external auditor for the organization.
The overall objective of the internal audit services is to provide GSF’s Board and other key stakeholders with independent and reasonable assurance regarding the design and operational effectiveness of the internal control systems and processes in place to ensure the achievement of its business objectives.
Specific objectives include:
a) Assessment of effectiveness and efficiency of operations (financial, human resources, administrative, procurement and physical assets management).
b) Compliance with the Nigeria requirements, (including statutory requirements relating to staff income tax, pension and other government mandated contributions)
c) Compliance with applicable policies and relevant donor requirements.
d) Set up of fraud prevention controls and systems
e) Assist management to implement enterprise risk management system
f) Assessment of the effectiveness of the risk management processes in place.
g) Safeguarding of assets.
h) Assessment of the reliability of the financial and other reports submitted to various stakeholders.
i) Others, as may be identified during engagements between GSF and the
Consultant.
AUDITING STANDARDS
The Internal Audit services should be carried out in accordance with International Standards for the Professional Practice of Internal Auditing (Standards) and or any other International Standards that are appropriate for Internal Audit procedures.
SCOPE OF WORK
The audit shall cover the period of one (1) year from 1st January 2021 – 31st December 2021 and shall cover all income received by the organization from membership subscriptions and Development Partners. It should include such tests and verification procedures as the auditors consider necessary under the circumstances.
REPORTS
The contractor shall produce an internal audit report with detailed observations and recommendations of the audit against all the agreed audit objectives and in line with IIA standards. The report shall be presented to the GSF Administration and Finance Committee of the Board two weeks before the committee meeting in January 23rd 2021. The report will include but will not be limited to;
(a) Provide detailed observations on the accounting records, procedures, systems and controls that were examined during the course of the audit;
(b)Identify specific deficiencies and areas of weakness in accounting or financial reporting, systems, processes and controls and make recommendations for improvement;
(c) The monitoring plan on how the implementation of agreed actions should be undertaken by GSF.
(d) Report on the degree of compliance with each of the GSF policy and procedures including funding agreements and give comments, if any, on internal and external matters affecting compliance, such as Environment and Social issues, cybersecurity and other significant emerging risks.
(e) Report on the risks and financial impact faced by GSF after Covid-19 for the period starting 1st January 2021 – 31st December 2021.
(f) Communicate matters that have come to their attention during the audit which might have a significant impact on the implementation and sustainability of the programme; and
(g)Bring to GSF managements’ attention any other matters that the auditors consider pertinent.
THE CONSULTANT AUDITOR
(a) The Auditor shall have relevant professional qualifications, experience in auditing of regional intergovernmental organizations and donor funded operations of similar size and complexity.
(b) The internal Auditor must demonstrate knowledge of current internal audit practices and the application of International Standards for the Professional Practice of Internal Auditing (Standards).
(c) The Internal Auditor shall have at least five (5) years’ experience in auditing and with a sound knowledge of GSF’s operating environment, regional intergovernmental organizations and donor-financed projects. In addition s/he should be a member of recognized accountancy and/or Internal Audit professional body.
(d) The Internal Auditor must be completely impartial and independent from all aspects of management or financial interests in the GSF or directly related entities. They should not, during the period covered by the Internal Audit or during the undertaking of the audit, be employed by, serve as director for, or have any financial or close business relationships with any senior participant in the management of GSF.
(e) The Internal Auditor is required to disclose any relationship that might
possibly compromise their independence.
GSF RESPONSIBILITIES TO THE CONSULTING FIRM
(a) Provision of all relevant documents required by the auditor such as legal documents, correspondence and any other information associated with the organization and projects that may reasonably be deemed necessary to enable them to undertake the audit.
(b)Provide working space and coordinate the site visit, administrative support.
(c) In a case where the Consultant will require a meeting with GSF stakeholders, GSF shall facilitate, and ensure proper coordination of the meeting.
TIME FRAME OR CONSULTANCY DURATION
The audit procedures shall be carried out within the course of contract period. Commencement date shall be agreed with the successful consultants and reports will be presented to the Administration and Finance Committee of the Executive Committee as shall be agreed with GSF Management. The annual work plan should be submitted as part of the bid.
AMOUNT AND MODE OF PAYMENT:
The consultant Internal Auditor will be paid as per the contract agreement, based on the production of the stated deliverables.
REPORTING
The consultant Internal Auditor will report administratively to the Executive Director and functionally to the Administration and Finance Committee of the Board. Performance management of the consultant shall be monitored by the Administration and Finance Committee of the Board
WHO TO APPLY
All experienced and professionally qualified Internal Auditors can apply for the services being requested.
SUBMISSION OF PROPOSALS
1. Technical Proposal with work plan;
2. The detailed CV which includes prior experience and references for
consultant Internal Auditor; and
3. Certified copies of the academic and professional certificates
4. Contact details.
5. Financial Proposal
6. Full cost in NAIRA and breakdown of reimbursable expenses, Taxes and duties and any other related costs The Technical and Financial proposals should be in separate files.
HOW TO APPLY
Interested bidders should submit the Technical Proposal and the Financial Proposal clearly marked “QUOTATION FOR PROVISION OF INTERNAL AUDIT SERVICES TO GROW STRONG FOUNDATION not later than 22nd
December , 2021 at 2.30 pm to: The Executive Director Grow Strong Foundation – No 4 Faith Avenue, Jiddari
Polo, Maiduguri, Email: [email protected] with a copy to [email protected] (cc).
