Tender on Audit Company Selection
The Public Association „EcoVisio” (AO “EcoVisio”) is a youth led grassroots NGO from Moldova working in the field of environment, social entrepreneurship and civic engagement.
AO “EcoVisio” intend to carry out an evaluation of the general financial situation of the implemented activities for the fiscal year 2023.
AO “EcoVisio” is searching for an external, independent and qualified auditor.
I. Objectives and goals of the audit
The Objective is to carry out the audit of the general financial situation of the AO “EcoVisio” for the period of 01.01.2023-31.12.2023
II. Additional requirements according to the agreed proceedings ISRS 4400, International Standards on Auditing (ISA), issued by IAASB and Standards IFAC/INTOSAC Terms of Reference (ToR)
During the audit the major accent will be focused on the following aspects:
- Correct organization of the accounting evidence and of the financial reporting system;
- Respecting the national legislation on the calculation and payment of the obligatory contributions, duties and social security taxes;
- Use of financial resources, including of the debited salary costs, according to their destination, their registration, as well as of the foreign exchange gains and losses during the audited period and systematically and existence of the justification financial-accounting documents;
- Respecting the conditions and assumed obligations, indicated in the financing/granting contracts;
- Respecting the internal policies and procedures for the procurement of goods and services, lending and renting contracts, as well as EcoVisio Integrity and Anticorruption Policy, including provisions on conflict of interests;
- Examination of the output balance for the previous period and the balance of the current entry;
- Implementation of the recommendations of the System Based Audit and the follow-up report and of the previous financial audit;
- Other aspects relevant to the audit.
III. Procedure and Reporting
1. The Audit will be carried out in the period of February, 2024. The final audit report should be submitted no later than March, 20 2024.
2. The Audit Report have to contain the goals and methodology of the audit.
3. The Report have to include:
- the Report of the independent auditor according to the standard format ISA 800/805
- the Management Letter. The Management Letter will include the audit findings and the weak issues identified.
4. The Audit Report and the Management Letter have to offer comments on the following:
- If the procurement process of AO “EcoVisio” is in accordance with the procurement regulation of the AO “EcoVisio”;
- If the procedures for payments and transfers of funds and the management of bank and cash holdings at “EcoVisio” are appropriate and corresponding to national norms and regulations;
- If were admitted situations of conflict of interest, reported and solved according to the internal principles of AO “EcoVisio”;
- Observations formulated during the audit process and recommended actions.
5. The Auditor have to evaluate the financial amount for which the justification documents are absent.
6. The Auditor will propose recommendations for addressing the identified gaps, being presented in the priority order to be solved.
7. The measures taken by AO “EcoVisio” for the solving of the identified deficiencies identified in the previous audits have to be indicated in the Report.
8. The Report is signed by the auditor which carry out the audit (title) and the Audit Company.
9. The opinion and recommendations of the auditor have to be clearly presented in the Report and in the Management Letter. The Report and the Management Letter will be prepared in Romanian and English and will be presented, both on paper and electronic format, not later than in 1 week from the date of the finalization of the audit.
IV. Confidentiality
10. The Auditor which will carry out the audit (title) and the Audit Company will submit a Declaration of Confidentiality assuming the responsibility for keeping the data and information confidentiality, which they will examine during the audit process.
V. The Responsibilities of the Beneficiary
AO “EcoVisio” will ensure access to all documents requested by the auditor and will provide the necessary space for the conducting of the audit works.
AO “EcoVisio” will offer all necessary support to the auditor for the facilitation of the audit works.
AO “EcoVisio” will offer a Management Response to the audit conclusions in Romanian and English.
VI. Qualification requirements
Obligatory requirements
- Experience in the domain of minimum 5 years;
- Experience in conducting audits for NGOs, financed by national and international organisations;
- Good command of Romanian/Russian and English at the adequate level to analyze and present the documents, as the Audit Report and the Management Letter have to be presented in English and Romanian.
Structure of the offer:
- Name of the company, address, contact person and phone number;
- Copy of the license for the audit activities;
- Description of the company and arguments for the opportunity of its selection;
- List of NGO’s for which the audit company carried out organizational audits during the last 3 years;
- Description of the qualification of the members of the audit team;
- Financial offer.
The offer has to be submitted in English.
Evaluation criteria:
- Presentation of the full set of documents indicated in the Structure of the offer, indicated above;
- Relevant experience in the requested audit, specific to non-governmental organisations according to the International Standards on Auditing (ISA), issued by IAASB and Standards IFAC/INTOSAC;
- Qualification of the auditor/auditing team which will carry out the audit;
- The most advantage offer respecting the indicator quality/price.
Submission of the offers:
The deadline for the submission of the offers: December, 10 2023
The offers could be sent by e-mail to the address procurement@ecovisio.org with the statement “Tender Audit EcoVisio 2023”.
Additional information could be obtained at the phone +373 69516014 (Lucia Ioncu – Financial Manager)
