Tender Ref.: 001/RWVCA/CA/2025

Terms of Reference (ToRs) for External Audit of Rwanda Wood Value Chain Association (RWVCA) for the year ended 31 December 2024.

INTRODUCTION

Rwanda Wood Value Chain Association (RWVCA) is a membership-based association created by private companies and cooperatives operating in the six platforms composing the wood value chain: Seeds and nurseries, Forest Management, Primary Processing, Secondary Processing, Tertiary Processing, and Sales and marketing.

In line with its goals, RWVCA is seeking to engage an external audit firm to undertake an independent audit of its financial statements and related operations for the fiscal year ending December 31, 2024. This Terms of Reference (ToRs) document serves to delineate the scope, objectives, and expected deliverables of the external audit process.

OBJECTIVES OF THE AUDIT

The primary objectives of the external audit are as follows:

• To express an opinion on the True and Fairview of the RWVCA’s financial statements in accordance with international financial reporting standards (IFRS) and provide a certified audit report.
• To evaluate the internal control systems of RWVCA and assess their effectiveness.
• To provide assurance that the financial records and statements are free from material mistakes, whether due to fraud or error.
• To assess the compliance of the financial statements with applicable legal, regulatory, and financial reporting requirements.

SCOPE OF THE AUDIT

The external audit will cover the following:

• Review and audit of the RWVCA’s financial statements for the fiscal year ending 31^stDecember 2024, including the balance sheet, income statement, cash flow statement, and notes to the financial statements.
• Evaluation of the RWVCA’s internal controls and financial reporting procedures to ensure compliance with relevant financial reporting standards.
• Revise of Appropriateness of supporting documents, records and books of accounts relating to all activities have been kept.
• Assessment of the adequacy of accounting policies and their application, ensuring consistency with previous years where applicable.
• Any other areas as agreed upon between the RWVCA and the external auditor.

DELIVERABLES

The external auditor will provide the following deliverable:

1. An independent auditor’s report expressing the audit opinion on the financial statements.
2. A management letter that identifies any deficiencies or areas for improvement in the Company’s internal controls, financial reporting, or compliance procedures.
3. Recommendations for improvements in accounting practices and procedures, where necessary.
4. Certify the RWVCA’s tax declarations & financial statements for the year 2024.

KEY CRITERIA

The external audit must be approved by RRA to certify tax declarations & financial statements (must be on the RRA’s current list).

BID DOCUMENTS

• A copy of the Trade License provided by RDB
• VAT registration certificate
• Valid Certificate of tax clearance provided by RRA
• RSSB clearance certificate
• Proof of similar assignment completed (at least 3 recommendations)
• Proof of approval to certify tax declarations & financial statements (by RRA)

Evaluation criteria: The Firm/Consultant who will have all documents requested in item No6) and who will have the best financial offer will own to tender.

Audit duration and payment: This assignment is three (3) weeks, and the contractor will be paid after providing the certified audit report.

Deadline for submission: Thedeadline for receiving offers is on 6^th February 2025 to email: procurement@rwvca.org.rw copy to info@rwvca.org.rw.