Organization : The Center for People and Forests
Type : Nonprofits / องค์กรไม่แสวงหาผลกำไร
Date : 26 Apr 2019
View : 425
Deadline : 31 / May / 2019
The Regional Community Forestry Training Center for Asia and the Pacific (hereafter referred to as “RECOFTC and The Center”) holds a unique and important place in the world of forestry and natural resource management. It is also commonly referred to as The Center for People and Forests. The Center is the only international not‐for‐profit organisation that specialises in capacity development for community forestry and sustainable forest management by local people. It was established by an intergovernmental charter signed by the governments of seven countries, including Thailand (as the host country), Cambodia, China, Lao PDR, Myanmar, Viet Nam and the Government of Switzerland. In addition to its regional office in Bangkok, The Center currently has country offices in Cambodia, Indonesia, Myanmar, Nepal, Thailand, Lao PDR and Viet Nam. Historically, RECOFTC has engaged in strategic networks and effective partnerships with governments, non-government organisations, civil society, the private sector, local people, and research and educational institutes throughout the Asia‐Pacific region and beyond. With over 30 years of international experience and a dynamic approach to capacity development‐involving research, analysis and synthesis; strategic communication; training and learning networks; and piloting and demonstrations‐ The Center deliver innovative solutions for people and forests.
The Center is currently advertising for External Auditor for its Financial Years 2019-2021. Qualified consulting audit firms are invited to submit a quotation in response to the technical services as specified in the following Terms of Reference.
The objective of the Audit:
- The objective of the audit of The Center’s financial statements is to enable the auditors to express an independent professional opinion on the financial reports of the Center and to ensure that the funds utilised corresponds to the Center’s activities and that funds have been used properly for their intended purposes.
- The books of accounts will provide the basis for the preparation of the Center’s Financial Statements. The Center’s Corporate Services Unit maintains proper accounting books as required by law and there are adequate internal controls and supporting documentation for each of the transactions. The audit is meant to check that these internal controls and policies and procedures are being followed as required by international standards.
Scope of the Audit
- The audit will be carried out in accordance with the international standards on auditing issued by the International Federation of Accountants, IFAC or national audit standards deemed equivalent by Sida and SDC. This audit will include tests and verification procedures as the auditors deem necessary.
- Verify all funds have been used in accordance with the established rules and regulations of the Center and only for the purposes for which the funds were provided.
- Goods, works and services financed have been procured in accordance with the established rules and procedures of the Center.
- Appropriate supporting documents, records and books of accounts relating to all activities have been kept. Clear linkages should exist between the books of accounts and the presented financial statements.
- The financial statements have been prepared by the Center’s management in accordance with applicable accounting standards and give a true and fair view of the financial position of the Center and of its receipts and expenditures for the period ended on that date.
- Comprehensive assessment of the adequacy and effectiveness of the accounting and overall internal control system to monitor expenditures, other financial transactions and whether internal controls and policies have been followed properly.
- Express an opinion as to the reasonableness of the financial statements in all material respects.
- Include in their reports opinion on compliance with procedures designed to provide reasonable assurance of detecting misstatements due to errors or fraud that are material in the financial statements.
- Under the Audit Scope, the auditors will prepare a Management Letter including the following:
- Give comments and observations on the accounting records, procedures, systems and controls that were examined during the audit.
- Identify specific deficiencies and areas of weakness in systems and controls and make recommendations for improvement. The recommendations shall be presented in priority order.
- Report on the implementation status of recommendations pertaining to previous period audit reports.
- Communicate matters that have come to their attention during the audit which might have a significant impact on the sustainability of the organisation.
- Bring to the Executive Director’s attention to any other matters that the auditors consider pertinent.
- The auditor’s review should also cover the following areas (according to ISRS 4400):
- Follow up whether salary costs debited to the project/programme are recorded throughout the year in a systemized way (i.e. based upon a time reporting system) and examine whether the salary costs can be verified by sufficient supporting documentation.
- Based on materiality and risk the auditor shall examine whether there is supporting documentation related to incurred costs. Regardless of the materiality of the findings, the auditor shall quantify the amount for costs lacking sufficient supporting documentation.
- The auditor shall check whether the Center adhered to its procurement guidelines (annexed or referred to in the agreement) and whether the procurement policies have been followed according to standard good practice principles (such as best value for money, transparency and competitiveness).
- Verify the unspent balance that shall be refunded to Sida and/or to SDC in the final financial report of the last year of the agreement period (only applicable in the agreement final financial report).
- Check whether there are ineligible costs (as listed below) charged to SDC and/or the Sida funds. The ineligible cost will be quantified and summarised for each donor according to the Center’s core fund policies. The following costs shall not be considered eligible for financing from this Agreement:
- a) Debts, and in the case of Projects, also debt service charges (interest);
- b) Provisions for losses or potential future liabilities;
- c) Items already financed from another agreement with Sida, SDC or another financial institution;
- d) Purchases or construction of real estate (land or buildings);
- f) Credits to third parties;
- g) Travel costs for business or first class;
- h) Extra allowances, such as sitting allowances, or equivalent to finance allowances for participating staff/invited speakers/participants of workshops; or
- i) The build-up of reserves
- Follow up on funds channelled to implementing partners
- Review whether the Center has signed agreements with its implementing partner organisations.
- Review whether the Center’s audit requirements specified in agreements with the Center are in accordance with the audit requirements as stipulated in the organisation’s core fund agreements with Sida and/ or SDC.
- Review whether there is an audit trail according to the requirements as stipulated in the agreement between the Center, SDC, and/ or Sida, for funds disbursed the previous year. The review shall include whether the Center makes documented assessments of the audited financial reports and whether these reports are followed-up by the Center. The auditor’s review will include verification of contributions of a minimum of 80 % of the total of the Center’s core funds as well as 80 % of the number of contributions by each financial institution. The review shall also include any observations from auditor’s perspective that the Center’s core funders, namely Sida and/or SDC, need to be informed about.
The audit work shall be completed within three weeks from the date of commencement of the audit.
- The Auditors upon completion of each annual audit will submit 20 (twenty) original copies of the Audit Report appended to the Financial Statements along with the reports and 1 (one) Management Letter to the attention of the Executive Director.
- The timing of delivery will depend in accordance with the scope of work described in this scoping description, but ideally, the deliverables will be finalised by February 28th of each year. This will allow the Center’s Management time to review the deliverables and respond in a timely manner.
- According to specified procedures ISRS 4400 under section II, the audit shall report separately in a “Report of factual findings”. The size of the sample for audit reporting shall be reported. According to ISRS 4400, if the auditor conducts additional assignments, the observations are to be presented in the “Report of factual findings” including the information that will be provided in a Management Letter.
Qualification of Audit Firm:
The audit firm must be based in Bangkok, Thailand. In addition to international firms, those local audit firms which have an affiliation with an international audit firm are eligible to apply.
The audit fees for the three years will be fixed through a competitive bidding process. A three-year contract is preferred so applications may also account for annual fluctuations in the currency, inflation and other factors. Alternatively, an audit firm willing to make a three-year commitment can bid on year one and re-forecast based on the number of days during the 2019 audit.
Interested professional consulting firms can submit annual and/or three-year quotations to email@example.com.
To learn more about RECOFTC, please visit our website at www.recoftc.org.
Contact : firstname.lastname@example.org