Provision of External Audit Services This tender has ended. You cannot apply anymore.
Tender title: YWBOD 2023 External Audit
Published date: 09\11\2023
Youth without Borders Organization for Development (YWBOD) is a Yemeni civil society organization established in 2013. It is registered in the Ministry of Social Affairs and Labor per Law 1/2001. YWBOD has a headquarter in Taiz, but activities and projects cover many Yemeni governorates. YWBOD is working on building an enabling environment for youth, CSOs and local communities in its target governorates. It also works on integrated projects for humanitarian, peacebuilding and development objectives. It works with partners of CSOs, state institutions, youth and women in initiatives and local authorities.
YWBOD is launching this call for tenders for external audit service for its financial system, documents, procedures, etc. of all the activities and projects and operation transactions of the fiscal year 2023 for the overall purpose of gaining assurance on the effective functioning of the management and control systems and the legality and regularity of the expenditures. The audit shall be carried out with support from the executive management and its divisions as required, but under the direct control and supervision of the Board of Trustees, represented by YWBOD's Chairman who will be overseeing the scope of auditing and shall receive the deliverables. The audit shall be in-person in the headquarter office in Taiz city per time line highlighted below. Online communication for discussing findings, deliverables, etc. is expected. Collaboration from the executive management and its divisions will be ensured by YWBOD.
Objectives of the external audit:
- The books of accounts of YWBOD provide the basis for preparation of the YWBOD's Financial Statements. Proper books of accounts as required by law have been maintained by YWBOD and also maintain adequate internal controls and supporting documentation for the transactions.
- To audit the financial statements of YWBOD and express an independent professional opinion on the financial position of YWBOD and to ensure that the funds have been used for their intended purposes.
Scope & tasks of the audit:
1- The audit will be carried out in accordance with the International Auditing Standards and will include tests and verification procedures as the auditors deem necessary.
2- Verify all funds have been used in accordance with the established rules and regulations of YWBOD and only for the purposes for which the funds were provided.
3- Goods, works and services financed have been procured in accordance with the YWBOD established rules and procedures.
4- 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 financial statements presented to.
5- The financial statements have been prepared by YWBOD management in accordance with applicable accounting standards and give a true and fair view of the financial position of YWBOD and of its receipts and expenditures for the period ended on that date.
6- Comprehensive assessment of the adequacy and effectiveness of the accounting and overall internal control system to monitor expenditures and other financial transactions.
7- Express an opinion as to reasonableness of the financial statements in all material respects.
8- 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.
9- Conduct entry and exit meeting with the staff assigned by YWBOD. The exit meeting shall discuss the findings and any improvement recommendations.
10- In addition to the audit report, the auditor(s) shall deliver a Management Letter that shall highlight the following:
A. comments and observations on the accounting records, procedures, systems and controls that were examined during the course of the audit.
B. Any specific deficiencies and areas of weakness identified in systems and controls and make recommendations for improvement.
C. Matters that have come to their attention during the audit which might have a significant impact on the sustainability of the organization.
C. Bring to the Broad of Trustees’ attention to any other matters that the auditors consider pertinent.
- Audit shall be carried out in February 2024.
- Initial findings shall be communicated and discussed in first half of March 2024.
- Report drafts shall be shared by the end of March 2024.
- Final reports and exit meeting in the first half of April 2024 .
- Initial list of findings and comments to be responded by the Organization's Finance Dept.
- Final list of findings, in Arabic and English.
- Audit opinion report for the fiscal year 2023, in Arabic and English
- Financial statements for the fiscal year 2023, in Arabic and English
- Income & expenditures list for the fiscal year 2023 in Arabic and English
Final Report: The report shall describe the work carried out in respect of the specific contract in English.
Who can apply:
Tender is open on equal terms to all natural and legal persons and entities officially registered and certified from the relevant authorities in compliance with the relevant applicable laws of the Republic of Yemen.
The tender will have a competitive bidding process. The following requirements will be scored as follows:
1- Technical offer
The technical offer must cover all aspects and tasks required in the technical specification and provide all the information to support. A detailed plan for the task and the CV of the personnel to conduct this task. CPA and CIA Certificates and the methodology of auditing shall be submitted with the Technical offer. The score of the technical offer 40%.
2- Financial offer
The price for the offer must be quoted in USD and shall describe the details of the costs in terms of the number of staff, number of working days for each staff, etc. The financial offer will have 35% of the evaluation score.
3- Previous experience:
Samples of previous work are required. A minimum of three contracts or certificates showing previous experiences must be submitted. The previous experience will have 10% of the evaluation score.
4- Registration and legal documents:
Applicants must prove their legal, regulatory, economic, financial, technical and professional capacity to carry out the work subject to this procurement procedure. a proof of registration on a professional or trade register or any other official document showing the registration number is required. A membership card in the Association of Certified Public Accountants, a license to practice the profession, and a tax card must also be attached as part of the application requirements. Documents must be renewed and not expired. Completeness of all the required documents will be scored for 15% of the evaluation criteria.
Note: offer must be submitted via email attached with all the required documents and information and they shall be: Clear and concise, signed by the legal representative and stamped, meet specific requirements of the invitation, within the deadlines laid down. The offer must include a cover letter signed by an authorized representative presenting the name of the applicant and the name of the single contact point (leader) in relation to this tender and, if selected, in relation to this service.
Howe to Apply:
Interested applicants can send the technical and financial offers together with the other required documents to: firstname.lastname@example.org in an email titled: External Auditing Service. Deadline is 26 November 2023.
The related document can be downloaded from the below link.
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