TERMS OF REFERENCE (TORs) FOR HIRING EXTERNAL AUDIT SERVICES FOR FAWE RWANDA CHAPTER

1.Background

 The Forum for African Women Educationalists (FAWE) is a Pan African women’s organization whose mission is to support girls’ and women acquire education for development. FAWE was founded in 1992 and its headquarters are in Nairobi, Kenya. FAWE Rwanda is one of the 34 chapters across Africa.

FAWE Rwanda was founded in 1997 by a group of Rwandese women whose common goal is to build the country and promote national development through girls’ and women’s education. Since its inception, FAWE Rwanda has grown to become a reputable partner and focal point on female education in Rwanda.

FAWE Rwanda is seeking to recruit a reputable Audit firm  to conduct a comprehensive audit on FAWE Rwanda’Organanization for a period of one year renewable upon satisfaction by both parties.

2. Objectives of the assignment

The broad objectives of the audit will be as follows:

• To evaluate the effectiveness of FAWE Rwanda financial statements, management & governance, programmatic and administrative systems and structures, Internal controls in general (Human resources management, Procurement, stock Management) and follow up on outstanding recommendations from previous audits and other reviews.
• To review the effectiveness of FAWE risk management systems and processes.
• To review and identify risks and or highlight opportunities to enhance the Organization’s compliance with legal and regulatory obligations.

3. Scope of work

The audit firm will conduct a full audit for all FAWE operations, including but not limited to tax compliance and filing with RRA for the period beginning 1^st January to December 2022. The firm shall be required to perform risk-based audits and compliance audits.  The Audit will include but not limited;

• Conducting independent audits of FAWE’s 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 FAWE 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 FAWE internal control system (Human resources management, Procurement, stock Management) and follow up on outstanding recommendations from previous audits and other reviews 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 design.

4. Expected Deliverables from the Audit Firm

• A well elaborated plan of work
• Methodology to be used
• Draft report on all components under review
• Final report with findings, recommendations and Management comments
• Implementation status report of the previous audit findings
• Final report to have been submitted by 20^th March 2023 to allow preparation and declaration of taxes.

5. Duration of the assignment

The assignment is expected to last for 1.5 months from the starting date of the exercise.

6. Required profile of the Audit Firm

Bidding firms will be required to meet the following criteria:

• Be on approved list of ICPAR, 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 and with experienced staff
• The firm should demonstrate adequate experience in Non-Governmental Organizations (NGOs) auditing and donor funded projects
• Provide 3 proofs of experience with clients for external audit services, preferably NGOs, and their contact details
• Provide a certificate of registration by RDB
• Taxes clearance from RRA and RSSB

7. Proposal submission

Firms meeting the above criteria are requested to submit their technical proposal in one PDF format containing the following, on email recruitment@fawerwa.org not later than 12^th January 2023.

Financial Proposal shall be requested after evaluating the technical Proposal.

1. Technical Proposal containing:

A technical proposal shall contain the following information;

• Confirmation of the firm’s understanding of the Terms of Reference (TORs) and its capacity and capability to deliver on the TORs.
• 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.

1. Financial Proposal

The financial proposal shall be requested from those firms which have been considered successful in the technical evaluation.  The following shall be submitted in the financial proposal.

• A well elaborated financial proposal for the assignment and its breakdown.
• A document clearly showing the firm’s bank account.

Done at Kigali on 05^th January 2023.

Approved by:

Mutoro Antonia

National Coordinator