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Introduction
Brief presentation of Heifer Project International: Heifer International wishes to engage the services of an audit firm for the purpose of carrying out an Audit of the Kenya Market Led Dairy Supply Chan Project (KEMDAP), as stipulated in the agreement between Heifer Project International and Sida, signed on August 2017.
The audit shall be carried out in accordance with international audit standards issued by The International Auditing and Assurances Standards Board (IAASB).
The audit shall be carried out by an external, independent and qualified auditor.
I. Objectives and scope of the audit
The objective is performing a financial audit for the year 1 implementation period 2019-03-01 to 2020-02-29 and to express an audit opinion according to International Standard of Audit (ISA) 800/805 on whether the financial report of KEMDAP is in accordance with Sida´s instruction for financial reporting as stipulated in the signed agreement including appendixes between Sida and Heifer Project International.
II. Additional assignment; according to agreed upon procedures ISRS 4400, review the following areas in accordance with the Terms of reference below
- Examine that salary costs debited to the project/programme are recorded throughout the duration of the Year 2 implementation period in a systemized way and examine whether the salary costs can be verified by sufficient supporting documentation (If the budget includes salary costs to be debited to the project, the auditor shall always examine salary costs as stipulated here).
- Verify that expenses in the Year 2 implementation period compare to, every budget item approved, comparison between the actual costs/expenditures of activities and the budgeted costs/expenditures as approved by Sida for the period.
- Based on materiality and risk the auditor shall examine whether there is supporting documentation related to incurred costs.
- Follow up whether Heifer Project International has implemented recommendations from the assessment of internal control performed by Ernst & Young LLP in May 2017, Inception period audit by Delloite in March 2018 and Year 1 project audit. The examination includes reviewing whether Heifer Project International has implemented the action points as described in Heifer Project International’s management response submitted to Sida.
- Examine whether foreign exchange gains and losses can be identified and disclosed in accordance with what is stipulated in the agreement including appendixes.
- Examine Heifer Project International’s compliance with the applicable tax legislation in regard to taxes (e.g. Pay As You Earn – PAYE) and social security fees.
- Follow up whether Heifer Project International has adhered to the procurement guidelines annexed to the agreement.
- Review if outgoing balance for previous period is the same as incoming balance for the current period.
- Verify if Heifer Project International applies modified cash basis as accounting principle, the auditor shall motivate whether the applied accounting principle is acceptable for this type of financial report.
Follow up of funds that are channelled to implementing partners
- Does Heifer Project International have signed agreements with its partner organizations and evaluated partner’s capacity to manage project funds?
- Are the audit requirements in agreements with partner organizations in accordance with the audit requirements as stipulated in Heifer Project International’s agreement with Sida?
- Are the same requirements for reporting exchange rate gains/exchange rate losses as stipulated in the agreement between Heifer Project International and Sida, included in the agreements between Heifer Project International and its implementing partners?
Review of Catalytic Leverage Fund (CALF) reporting by Partners
- Draw a sample from the 23 Producer Organization and verify that the CaLF from the 23 Producer organization reflect a fair position.
- The Auditor shall visit sampled Producer organization and examine based on materiality and risk, whether there is supporting documentation related to CaLF
Procurement and deliverable timeline
III. The reporting
The scope of the audit shall be stated in the report and the methodology used shall be presented.
The reporting shall be signed by the responsible auditor (not just the audit firm) and title.
The reporting from the auditor shall include an independent auditor’s report in accordance with the format in standard ISA 800/805 and the auditor’s opinion shall be clearly stated, as well as a Management letter with audit findings and weaknesses identified during the audit process. The auditor shall regardless of materiality, quantify the amount for costs lacking sufficient supporting documentation. The auditor shall make recommendations to address the weaknesses identified and the recommendations shall be presented in priority order. If the auditor assesses that no findings or weaknesses have been identified during the audit that would result in a Management Letter, an explanation of this assessment must be disclosed in the audit reporting.
As applicable, measures taken by the organization to address weaknesses identified in previous audits shall also be presented in the Management Letter.
The additional assignment according to agree upon procedures ISRS 4400 under paragraph III, shall be reported separately in a “Report of factual findings”.
If the auditor conducts an additional assignment according to ISRS 4400 and assesses that the observations presented in the “Report of factual findings”, include the information that would have been included in a Management Letter, a Management Letter does not need to be developed. In such a case, the “Report of factual findings” shall include an explanation of why a Management Letter has not been developed.
Application Procedure
All EOI’s to be sent to: procurement-ke@heifer.org
Deadline for receiving EOI’s is February 23, at 5PM.
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