Call for External Auditor For Fista Association

1. Introduction

FISTA (First Step Together Association for Special Education) is a Non-Governmental Organization (NGO) dedicated to supporting children, adolescents, and adults with special needs. FISTA is inviting qualified firms to submit quotations for external audit services.

FISTA upholds a zero-tolerance policy for Sexual Exploitation, Abuse, and Harassment (PSEAH). All staff members and consultants are required to adhere to the organization’s Code of Conduct, ensuring compliance with these principles during and outside work hours.

As an equal-opportunity employer, FISTA does not discriminate against any employee, volunteer, or applicant based on race, color, sex, sexual orientation, gender identity, religion, creed, citizenship, national origin, age, or disability unrelated to job requirements.

2. Job Overview

The External Auditor will independently assess FISTA’s financial statements to ensure compliance with applicable accounting standards, legal requirements, and the absence of material misstatements. This role includes evaluating the organization’s financial health, identifying areas for improvement, and offering recommendations to enhance financial practices. The role requires in-depth knowledge of accounting principles, financial regulations, and auditing standards, along with strong analytical skills and attention to detail.

3. Scope of Work

The selected External Auditor will:

1. Conduct an independent audit of FISTA’s financial statements for the fiscal year.
2. Ensure the audit complies with International Standards on Auditing (ISA) and applicable Lebanese laws and regulations.
3. Assess FISTA’s compliance with internal policies, donor requirements, and statutory obligations.
4. Provide a detailed audit report, including:
   • Auditor’s opinion on the financial statements.
   • Observations and recommendations for improvements.
   • A management letter addressing any identified weaknesses or deficiencies.

Confidentiality and Independence

The audit firm must maintain strict confidentiality regarding all information obtained during the audit process.

4. Other Services and Renewal Clause

The external audit services may be renewed annually based on performance and mutual agreement. Renewal will depend on a review of the scope, service quality, and costs, which may be adjusted accordingly.

5. Key Responsibilities of the External Auditor

1. Conducting Financial Audits:

• Review and analyze financial statements, records, and transactions for accuracy and compliance with accounting standards, legal regulations, and stakeholder requirements.
• Ensure financial reports reflect a true and fair view of the organization’s financial position.

2. Assessing Internal Controls:

• Evaluate the effectiveness of FISTA’s internal control systems.
• Recommend improvements to prevent errors, fraud, or inefficiencies.

3. Ensuring Compliance:

• Confirm adherence to relevant laws, regulations, local accounting standards, and tax laws.
• Review compliance with contractual obligations to donors and other stakeholders.

4. Risk Assessment:

• Conduct a thorough risk assessment of financial operations.
• Identify areas for improvement to mitigate risks and vulnerabilities.

5. Audit Planning:

• Develop an audit plan, including objectives, scope, and methodology, in consultation with key personnel.
• Determine resource requirements and timelines for completion.

6. Preparation of Audit Reports:

• Prepare comprehensive audit reports detailing findings, observations, and issues identified during the audit.
• Present reports to the audit committee or board of directors, including suggested corrective actions and follow-ups on previous recommendations.

6. Recommendations for Financial Improvement:

• Provide advice on financial management practices and propose enhancements to internal controls.

7. Payment Method

FISTA’s method of payment is through cash letter or bank transfer.