Call for Tender – Call for Auditors

Audit Objectives: 

The audit will be carried out in accordance with the International Standards on Auditing.

To review the effectiveness of risk management systems and processes.

To evaluate the effectiveness of financial, management & governance, programmatic and administrative systems & structures of the organization and follow up on outstanding recommendations from previous audits and other financial reviews.

Obtain sufficient audit evidence to substantiate in all material respects the accuracy of the information contained in the financial statements.

Obtain an understanding of internal controls and perform tests of internal controls.

Issue an independent Auditor’s Report that states but not limited to the following:

An Opinion (or disclaimer of opinion) as to whether the Financial Statements present fairly in all material respects in conformity with the Generally Accepted Accounting Principles

A report on internal controls which shall describe the scope of testing of internal controls and the results of the tests.

A schedule of findings and questioned costs that includes a summary of the auditor’s results.

Perform a high-quality audit perceived as such by the client.

Arrive to a qualified audit opinion on the financial statements.

Identify all material audit risks as early as possible and, if possible, ensure resolution of these prior to year-end.

Indicate areas where risk is found to generate a more complete picture of financial responsibility.

Bring all material issues within the accounting and internal control system of Teach for Lebanon to the attention of management at an early stage together with our recommendations for improvement, in a standard presentation. 

All the issues should be identified and discussed during the audit process. 

Special attention should be paid by the auditor as to whether:

Funds have been used in accordance with the conditions of funding agreements, with due attention to efficiency and economy, and only for the purposes for which funding was provided.

Goods and services have been procured in accordance with the relevant procedures. 

All necessary supporting documents, records and accounts have been kept in respect of the project with clear linkages to the activity reports presented to donors.

The financial statements have been prepared in accordance with Teach for Lebanon applicable accounting policies or in accordance with International Financial Reporting Standards (IFRS).

Auditor opinion should be according to International Standards on Auditing. 

The auditor should plan the audit so that there is a reasonable expectation of detecting material misstatements in the accounts resulting from fraud, error or non-compliance with laws and regulations as may be necessary.  If the auditor’s suspicions are aroused, s/he must inquire into all the circumstances until satisfied.  If material irregularities are discovered, they must be reported to the Executive Director immediately.

Deliverables: 

The firm/individual auditor shall provide deliverables consisting of an electronic (PDF format) copy and 2 printed and stamped copies of the financial statements in English and Arabic languages.  Statement preparation, editing, and printing shall be the responsibility of the firm. Statements will include: 

Financial Report Statement (Income and statement of financial position)

Cash Flow Statement

Statement of Changes in Net assets/ account

Management Report Letter

Audit Timeline:

The audit is scheduled to begin in April 2025 covering the financial period 1st January 2024 to 31st December 2024. The draft Audit Reports should be submitted by 20th April 2025 while the Signed Audit Reports should be submitted by 24th April 2025.

Recruitment Requirements: 

To apply, interested candidates (individuals, firms, or teams) are requested to submit the following documents by March 19, 2025

A technical proposal inclusive of the following: 

Years of experience in auditing of Non-Governmental Organizations (NGOs)

Company profile including various donor funded projects that the audit firm has audited.

Proposed team composition, qualification, and experience (be sure to include the number of staff that will be assigned to the audit).

Number of days proposed for the audit exercise.

At least two Reference Letters from other NGOs that the audit firm/team has audited.

Up to date company registration and tax filing.

CV of proposed Audit lead/focal point.

Financial proposal.

Please make sure that the proposal includes:

- Official offers in the proper header and footer format 

- Mention the contact information of your company

- MOF and TX ID numbers of your company

- Offer validity time