Terms Of Reference For BMZ Project Financial Audit - Central African Republic

Terms Of Reference For BMZ Project Financial Audit - Central African Republic Introduction Tearfund (TF) is a Christian charity which partners with churches in more than 50 of the world’s poorest countries. We tackle poverty and injustice through sustainable development, by responding to disasters and challenging injustice. We believe an end to extreme poverty is possible. Tearfund wishes to engage the services of an audit firm for the purpose of auditing the project: "Project to consolidate peace in Lobaye through resilience-building interventions in WASH, social cohesion and livelihoods", funded by the German Federal Ministry for Economic Co-operation and Development (BMZ): Structural transitional aid. The project-based audit shall be carried out in accordance with international audit standards issued by ISA. The audit shall be carried out by an external, independent, local, and qualified auditor.

Formation / Diplômes

Project name : Project to consolidate peace in Lobaye through resilience-building interventions in WASH, social cohesion and livelihoods Project ref no . 2022.1807.1 / 502 E6050 CAF-0023/001 Project audit period : Year 1: 16.11.2022 – 31.12.2022 with spending period extended until 30.04.2023 Year 2: 01.01.2023 - 31.12.2023 Total expenditure(euro) : 1,225,000 (one-million-two-hundred-twenty-five thousand Euro),

Localisation

Location of the audit: TF Central African Republic Country Office in Bangui

• 3. Scope of the audit The auditor would carry out the audit of the project in accordance with the International Standards on Auditing (ISA), the International Standard on Assurance Engagements (ISAE) 3000 and the International Standard on Quality Control (ISQC), all in their most recent version. The Auditor designs and carries out the audit in accordance with the objective and scope of this set of rules and the procedures. The Auditor may apply techniques such as inquiry and analysis, (re)computation, comparison, other clerical accuracy checks, observation, inspection of records and documents, inspection of assets, obtaining confirmations or any others deemed necessary in carrying out these procedures. The audit of the project(s) will include such tests and auditing procedures to the extent the auditor considers necessary under the circumstances. The auditor obtains sufficient appropriate verification evidence from these procedures to be able to draw up a report of factual findings. The auditors are to be obliged to draw up their audit report in accordance with the model provided by BMZ. Special attention should be paid by the auditor as to whether: all applicable relevant BMZ rules and regulations and contractual engagements have been adhered to: Cooperative agreement Administrative Procedures; BMZ Standards for reporting; Approved budget (cost Plan); funds have been provided and used in accordance with the relevant financing agreements, with due attention to economy and efficiency, and only for the purposes for which they were provided; Project funds transferred to the project partner in the current budget year or during the project term; interest earned in the current budget year or during the project term from project funds transferred to the project partner goods, works and services financed have been procured in accordance with the relevant financing agreements, including specific provisions of Tearfund Central African Procurement Policies and Procedures; all necessary supporting documents, records, and accounts have been maintained in respect of all project activities. Accounting records are correct and complete. The auditor is also expected to verify that respective reports issued during the period were in agreement with the underlying books of account; National laws and regulations have been complied with, and that the financial and accounting procedures approved for the project (e.g. financial procedures manual, etc.) were followed and used; this applies as well to personnel costs and social security contributions which are to be in line with local standards, legal in the respective project country and, above all, that they comply with contracts and that the contributions required by law are being withheld. verifying that the cost plan is being adhered to by means of a comparison of objectives and effects assets procured from project funds exist, and there is verifiable ownership and appropriate use by the Tearfund office. In complying with International Standards on Auditing, the auditor is expected to pay particular attention to the following matters: i) Fraud and Corruption : Consider the risks of material misstatements in the financial statements due to fraud as required by ISA 240: The Auditor’s Responsibility to Consider Fraud in an Audit of Financial Statements. The auditor is required to identify and assess these risks (of material misstatement of the financial statements) due to fraud, obtain sufficient appropriate audit evidence about the assessed risks; and respond appropriately to identified or suspected fraud; ii) Laws and Regulations : In designing and performing audit procedures, evaluating and reporting the results, consider that noncompliance by the TF CAR Office abroad with laws and regulations may materially affect the financial statements as required by ISA 250: Consideration of Laws and Regulations in an Audit of Financial Statements; iii) Governance : Communicate audit matters of governance interest arising from the audit of financial statements with those charged with governance of an entity as required by International Standard on Auditing 260: Communication of Audit Matters with those Charged with Governance: iv) Risks : In order to reduce audit risk to an acceptable low level, determine the overall responses to assessed risks at the financial statement level, and design and perform further audit procedures to respond to assessed risks at the assertion level as required by Internal Standard on Auditing 330: the Auditor’s Procedures in Response to Assessed Risks. v) Advances : Travel advances and personal advances to local staff and expatriate staff Expected deliverables for the audit I. Audit report The auditor will issue an opinion on the project financial statements (PFSs). The annual audit report of the project accounts should include a separate paragraph highlighting key internal control weaknesses and non-compliance with the financing agreement terms. The addressee of the audit report is the authorised representative of the project holder as well as the country representative. The audit report should be a comprehensive assessment of the adequacy and effectiveness of the accounting and overall internal control system to monitor expenditures and other financial transactions. The report of the external audit must include the following:

Présentation du poste

Presentation of the audit assignment and scope with extensive comments on the audit findings. The auditor must also state which documents were used for the audit of appropriate use of funds and compliance within the project term. Recommendations in case of complaints. Comment on how audit observations from previous years were followed up on, if required Deviations of actual expenditure from the planned expenditure in the most recent budget that exceed 30% of individual budget items, must be explained and reasoned. Deviations of actual expenditure

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