Country: Kenya
Closing date: 12 Jan 2018
TERMS OF REFERENCE FOR STATUTORY AUDIT ASSIGNMENT FOR THE FINANCIAL YEAR 2017
Overview of the Organization
Build Africa is an international NGO with offices in the UK and supporting organisations in Kenya and Uganda. It aims to improve the quality of education and support livelihoods by developing the capacity of communities. Build Africa works with communities stretching across several regions in Kenya enabling school communities to improve the quality of education they provide for their children.
Find Build Africa on http://www.build-africa.org for more information.
Build Africa Kenya is seeking a reputable Audit firm to conduct the statutory audit for the financial year 2017.
Applicants must fulfill the following
· Minimum of 5years practicing experience auditing Non-Governmental Organizations
· Registered with ICPAK
General Objective
The objective of the statutory audit for the financial year 2017 is to seek a professional opinion on the financial statement of Build Africa Kenya for the financial year 2017 and to ensure that funds received and expenditure incurred under Project activities are in accordance with the laid down financial regulations, prescribed Procurement procedures, and other orders issued from time to time as well as to ensure proper maintenance of books of accounts and other relevant documents at all levels.
I.Specific Objectives
The objectives of the audit are as follows:
§ Determine the accuracy and completeness of Build Africa Kenya financial statements for the year 2017.
§ Review and evaluate the adequacy of the existing internal control system over fund disbursements, payment approvals, procurement, and Asset management.
§ Determine compliance with existing Build Africa procurement, financial and accounting policies and procedures.
§ In particular, to report on the degree to which enforcement of controls and compliance with policies has improved in the latter months of the year
§ Provide audited accounts for the period as a statutory requirement.
§ Determine the compliance with the existing country/statutory/taxation regulations as regards maintenance of financial statements.
2. Scope
a) The audit will cover the accounts of Build Africa Kenya Nairobi Office as well as the two field offices i.e. Gilgil and Kwale for the period January 2017-December 2017.
b) Scope of assignment also includes audit in the various communities in which Build Africa has been involved in carrying out various activities including construction.
C) Audit of Pensions January to December 2017.
3. Expected deliverables
On completion of audit, the audit firm so appointed will submit the following:-
- A report on financial statements including but not limited to;
Statement on the Financial position
statement of Comprehensive Income and Expenditure
Statement of Changes in Fund Balances Statement of cash flowsA “Management Letter”, whereby audit will:
a. Give comments and observations on the accounting records, systems, and internal controls that were examined during the course of audit
b. Identify specific deficiencies and areas of weakness in systems and internal controls and make recommendations for their improvements
c. Report on the degree of compliance of during the year with Build Africa Kenya’s finance and procurement policies and give comments, if any, on internal and external matters affecting such compliance
d. Communicate matters that have come to attention during the audit which might have a significant i Impact on the implementation of Build Africa-Kenya’s activities.
4.Time Schedule
The appointed Audit firm is required to complete the Audit assignment within a period of 1.5 months from the date of appointment.
How to apply:
Interested firms must include their financial bids in the expression of interest as well as provide company profile and any other necessary information through the address provided below.
Build Africa Kenya
Cathy Flats Suite 3 Lenana Road
Tel 020 2359464 or 0721378892
P.O BOX 10604-00100
Nairobi
Financial bids can be dropped at our office on any working day during Office hours from 3rd to 12th January 2018.