Audit Consultant

Secours Islamique France:  Founded in 1991, Secours Islamique France (SIF) is a national and international solidarity Non-Governmental Organization (NGO) that has been working in France and around the world for over 25 years, taking action wherever there are humanitarian and social needs that require emergency relief, development programs and advocacy campaigns with respect for the environment. SIF is committed to reducing poverty and vulnerability in France and around the world, without proselytism nor discrimination. One of its core principles is to assist the most vulnerable, fairly, with humanity and without any distinction based on their origins, gender, culture, faith, sensitivity or political affiliation.

SIF was registered with the Lebanese Ministry of Interior and Municipalities (MOIM) on 09/05/2014 with Registration Number 4/6705. In compliance Government of Lebanon regulations, SIF was also registered with the Ministry of Finance (MOF) upon Registration with MOI, and abides by all the statutory requirements for an International NGO operating in Lebanon. SIF currently employs 18 National staff –  and three (2) expatriate - who operate out of the INGO’s single office located in 1st  floor, Lamod Building –Above Playtown,Berlin Str.- Raouche Ras Beirut, Lebanon. Implementation is currently in Beirut and Mount Lebanon, with plans for expansion currently being discussed by management

Secours Islamique France (SIF)  is requesting proposals from licensed certified public accounting firms to audit its financial statements for the fiscal year ending December 31, 2022, with the option of auditing its financial statements . This audit is to be performed in accordance with the provisions included in this request for proposal:

Objectives of the Audit:

The objective of the audit is for the auditors to conduct audit reviews as follows:

1. The auditors shall express an independent professional opinion as to whether the financial statements present fairly, in all material respects, the financial position of SIF - Lebanon in accordance with the International best practice in the non-profit industry.
2. The audit shall be carried out in accordance with the International Standards on Auditing (ISAs) as issued by the International Federation of Accountants (IFAC). The auditors in their duties shall comply with the duties imposed upon them by the Audits Professions Act and the Companies and Allied Matters with Law of the Lebanon.
3. The Audit shall establish whether or not 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.
4. Produce complete and accurate financial statements of project revenues and expenditure during the period under review.
5. Management letter-The Auditors shall prepare a management letter after the completion of the audit in which auditors will:
6. Identify specific deficiencies or areas of weakness in systems and controls, and make recommendations for their improvement;
7. Examine on test basis that appropriateness of supporting documents, records and books of accounts relating to all project activities;
8. Include management responses to audit findings and recommendations;
9. Point out any matters that come to the auditor’s attention during the audit that might have a significant impact to the implementation of the program
10. Examine, assess and report on compliance with the terms and conditions of the agreement between funding partners and SIF and applicable laws and regulations within accounting and taxes;
11. The auditor shall report the identified amount in case there are any missing supporting documents;
12. Bring to the Head of Mission attention any other matter that the auditors consider pertinent.

3. SCOPE OF WORK

3.1. The successful bidder will be required to perform the following types of external audits

• Risk based audits (this includes, but are not limited to, audits on the Financial, Human Resource , Logistics);
• Compliance audits;
• Performance audits;
• Audits on predetermined objectives (performance information);

3.2. The scope of external audit work entails testing and evaluating the adequacy and effectiveness of the organization’s systems of internal control and to make recommendations, basically auditors are expected to:

1. Review the effectiveness and efficiency of the financial, human resource and logistics management process.
2. Appraise the effectiveness and efficiency with which resources are employed and identifying opportunities to improve operating performance.
3. Review the reliability and integrity of financial and operating information and the means used to identify measure, classify and report such information.
4. Review the systems established by management to ensure compliance with those policies, laws, regulations and controls that could have a significant impact on operations and determine whether the organizations is in compliance with its financial, administrative and property management procedures and other relevant legislation that governs the organization.
5. Ensure that the organization adheres to the corporate governance requirements as prescribed in the organization’s internal rules and regulations.
6. Review operations or programs to ascertain whether the results are consistent with established objectives or goals and whether the operations or programs are being carried out as planned.

3.3. Execution of audit assignments will be as follows:

1. Assignments are to be performed in accordance with the International Standards on Auditing (ISAs) as issued by the International Federation of Accountants (IFAC).
2. The execution of each assignment shall be in accordance with the instructions the bidder will get from the client.
3. In carrying out the work, the successful bidder must ensure its staff maintains their objectivity by remaining independent of the activities they audit.

3.4. Location of services

The required service of external audit will be rendered at SIF Office  - 1st  floor, Lamod Building –Above Playtown,Berlin Str.- Raouche Ras Beirut, Lebanon

4. Technical Requirements

Thorough research must be conducted for benchmarking purposes and estimation of overall hours by the organization inviting tenders, the overall hours should be the basis for evaluation of the following in the bidding process:

4.1. Explanation of the approach to performing an external audit, including the audit methodology, nature, timing and extent of audit procedures to be performed;

3.2. Demonstration of experience and expertise of external auditing for non-governmental organizations;

3.3. Providing an activity plan (Audit plan) of actions to achieve the objectives of the external audit function, specifying budgeted hours, timelines and sequence for its audit procedure and level of staff to be assigned;

3.4. Incorporating CV’s of the proposed professional staff of the core management team proposed for the engagement and the authorized representative submitting the proposal. Key information should include the position of the individual in the company, the role that the individual will have in the engagement, number of years’ experience, all tertiary and professional qualifications, professional memberships, experience, and degree of responsibility held in various assignments during the last three (3) years. CVs must be maximum one (1) page per staff member.

3.5. Proof of experience in performing external audit services: list current and past clients where the bidder carried out external audit along with the name of the organization, contact person, designation, contact number, nature of the external audit service and length of the appointment for at least three (3) non-governmental organizations where you have rendered external audits services in the last three (3) years.

3.6. Proposals must remain valid for ninety (90) days after the submission date. SIF will make its best effort to complete negotiations within this period. If the Proposal validity period of 60 days is extended, bidders have the right to withdraw their Proposals.

5. EVALUATION CRITERIA

Proposals will be evaluated in two parts. The technical proposal shall bear 60% of the total marks while the financial proposal shall bear 50% of the total marks.

• Proposals should make clear about the relevant skills, experience and capacity of the participant, in respect of this particular TOR
• Proposals must contain the details of the proposed approach to be adopted in order to deliver the service in accordance with the TOR
• Proposals should clearly indicate whether or not bid participants have the capacity to meet the requirements of the TOR

• Financial Proposal must be included the audit fees and others related cost

Only shortlisted audit firms will be contacted. Please note that this advert contains full Terms of Reference, hence no further tender documents are available.