SolidarMed improves health care for more than 2.5 million people in rural Africa and in India. We strengthen existing medical facilities and train local health personnel. Our projects are developed in close collaboration with local partners such as hospitals, health centres and health authorities, supported by our health experts on site. As a Swiss non-profit organisation with the Zewo certificate, SolidarMed’s work is efficient, diligent, and transparent.
TERMS OF REFERENCE FOR ANNUAL STATUTORY AUDITS OF SOLIDARMED TANZANIA PROGRAM
SolidarMed Tanzania would like to engage an auditor/audit firm to undertake the annual statutory audit for the funds received and payments made by SolidarMed Tanzania Country Program in 2022.
Brief Overview of the Required Service.
SolidarMed Tanzania receives funds from SolidarMed Headquarters and other donors to implement various Projects. The funds transferred to SolidarMed Tanzania are co-financed by SolidarMed Association in Lucerne, individual contributions, foundations, SDC and other donors. Therefore, the funds need to be disbursed per the set rules and regulations and reported Annually.
To express an opinion on the project financial statement each year from 2022. Each year’s audits are subject to a framework contract. For each year of service, the auditor/audit firm will receive a separate TOR and agreement for the Audit task.
Standard and Ethics
The Contracting Authority requires that the auditor/audit firm be independent of the Reporting Entity and comply with the IFAC Code of ethics’ independence requirements for Professional Accountants. The auditor/audit firm shall undertake this engagement per the International Federation of Accountants (IFAC) Code of Ethics for Professional Accountants.
They are developed and issued by IFAC’s International Ethics Standards Board for Accountants (IESBA), which establishes fundamental ethical principles for Auditors about integrity, objectivity, independence, professional competence and due care, confidentiality, professional behaviour, and technical standards.
SolidarMed country program with its projects.
Documents of reference
The following documents and matters are to be considered by the auditor/audit firm as basic references for performing the financial audit:
Legislation: National law
Project/program: Cooperation agreement relative to the project or to the partner organisation. Budgets, financing plans, Project descriptions (ProDesc) and yearly plan of operations (YPO); SolidarMed Responsibility Matrix and local rules and regulations. Any other documents concerning the project/program.
Accounting: Accounting documents subject to the financial audit; Financial and operational reports concerning the project/program.
Auditor: Prior internal and external audit reports of the partner; Any other information requested from the partner by the auditor.
Planning the financial audit
The auditor shall adequately plan the financial audit engagement well in advance of the work and ensure the execution of the financial audit of the highest professional quality economically and efficiently as agreed upon in the respective mandate in the name of the partner and the auditor. Based on the information received during the planning phase, including the auditor’s risk assessment, the auditor shall determine:
- The type of transactions to be audited and the audit methods (full audit or sample selections);
- The type of physical counts or examination and the sites to be selected.
- The number of site visits to be planned.
Management representation of full disclosure
- The auditor/audit firm shall obtain a management representation letter signed by the management of the partner organization, certifying:
- The acknowledgement of the organization’s responsibility for the keeping of accounts and financial documents that are correct, complete, fair, representing the true facts, in conformity with the objectives of the project, the documents of reference (description of the project, contracts, budgets, etc.) and national legislation;
- That all accounting records, supporting and other documents, minutes and any other pertinent information necessary for the audit be at the disposal of the auditor;
- The completeness of information concerning property and goods;
- The completeness of information concerning financing received or due and own financing concerning the audited period, for the project being examined;
- The availability of any information and explanations, either orally or by written confirmation, which might be required by the auditor in the execution of his mandate;
- In the case of contributions to local NGOs, the declaration has to certify the completeness of information concerning financing received or due and own financing concerning the audit period, for the project being audited and for the examination of the consolidated financial statements of the organization. The consolidated financial information, including balance sheets and profit and loss statements of the project are to be attached to the declaration and form an integral part thereof. This declaration shall be provided together with the financial audit report
Financial audit deliverables
The audit report shall provide an opinion on the partner’s financial information per International Standard
Audit. The answers to the questionnaire and recommendations to the management (Management Letter) and
the management representation letter shall be provided as separate deliverables together with the audit report.
Currency and language of the financial audit report
The financial information contained in the financial audit report of the auditor is to be expressed in the currency provided for in the contract. The financial audit report of the auditor and all other documents resulting from the financial audit engagement must be in English.
The financial audit report is to be signed by the leader of the audit team. The financial reporting subject to audit shall be signed by a representative of the management of the partner. The auditor ensures continuity in the audit approach of the financial audit engagement and the audit team, even if there is a change in the leader of the engagement team from the prior year.
Qualifications of the Auditor
The applying auditors/audit firms must include detailed curriculum vitae with three references (two professional and one personal) and a proposal outlining how and a specific timeline to accomplish this task. This assignment will require the following qualifications.
- The Auditor must be a member of a national/international accounting or auditing body or institution, is a member of the International Federation of Accountants (IFAC);
- If the auditor is not a member of the IFAC; the Audit firm commits to undertake this expenditure audit according to the IFAC standards and ethics. The Contracting Authority is obliged to prove the Auditor’s qualification to SolidarMed Tanzania by confirming with a recognized national/international institution (e.g., Chamber of Commerce or official Association of Auditors);
- The auditor/audit firm must have the appropriate professional qualifications and practical, relevant experience in verifying financial information of projects comparable in size and complexity to the project subject to this Also, the Auditor should.
- Have experience with projects funded by national and/or international donors and
- Have at least five (5) years of experience as a professional Auditor or Accountant in public audit practice, including relevant managerial experience in leading audit teams;
- Expertise in the field of accounting and auditing with proof of two or more audited financials filled for vetting by the National Board of Accountancy and Auditor (NBAA) as a quality control
How to apply
Please email your proposal to [email protected] citing reference “Annual Statutory Audit for SolidarMed Tanzania Country Program 2022.
Proposals are accepted in electronic format only.
Deadline for applications 7th October 2022