Terms of Reference for Organizational Audit

Background

medica Liberia wishes to engage the services of External Auditors for the accounting period January 1, 2019 through December 31, 2020 for all of our projects that were implemented in Liberia.

medica Liberia (mL) formerly medica mondiale Liberia is a non-governmental women’s right organization working in Liberia. Our Organization offers support to women and girls who have been affected by sexual gender based violence (SGBV). Since 2006, medica Liberia has been implementing programs for women and girls in Liberia’s South-eastern parts and recently extended its coverage to Montserrado and Margibi Counties.

Objectives of the Audit

The objectives of the audit are as follows:

1. To independently examine and report whether the funds provided by donors have been used by mL to support programme objective as agreed under the partnership; if expenditures have been incurred in accordance with the terms and conditions of the agreement between medica Liberia and donors and has been accounted for in a proper manner.
2. To examine and report, from the view point of accountability, as to the adequacy of the governance, management, internal control systems, and asset management;
3. To assess compliance with the funding agreement, cash management and procurement 4. To examine and report on the procedure of Human Resources Management.

Scope of Work: The audit shall be planned and performed in accordance with International Public sector Accounting Standards (IPSAS) promulgated by the International Federation of Accounting.

The scope of audit services shall cover the overall management of the program’s implementation monitoring and supervision. The audit work should include the review of work plans, progress reports, program resources, program budgets, expenditures, program delivery, laws and regulations that may materially affect the financial statements, recruitment, operational and financial closing of projects and disposal of assets. Against this backdrop, the following are areas that will be covered:

Human resources

The audit work shall cover the competitiveness, transparency and effectiveness of the recruitment and hiring of personnel and include appraisal, attendance control, calculation of salaries and entitlements, payroll preparation and payment and management of personnel records.

Finance

The audit work shall cover the adequacy of the accounting and financial operations and reporting systems. These include budget control, cash management, certification and approving authority, receipt of funds, and disbursement of funds, recording of all financial transactions in expenditure reports, records, control and maintenance.

General Administration

The audit work shall cover travel activities, vehicle management, office premises and lease management, office communications, and records maintenance.

Procurement

The audit work shall cover the competitiveness, transparency and effectiveness of the procurement activities of mL projects ensuring that the equipment and services purchased meet the requirement of either of the Government or mL policy.

The audit work in the area of procurement shall also cover the use of consulting firms and the adequacy of procedures to obtain fully qualified and experienced personnel and assessment of their work before payment is made.

Asset Management

The audit work shall cover equipment (typically vehicles and office equipment) purchased for use of the project. The procedures for receipt, storage, and disposal shall also be reviewed.

Cash Management

The audit work shall cover all cash funds held by the project and review procedures for safeguarding of cash.

Information System

The audit work shall cover the information and communication systems and the control and security of equipment and data.

Audit Report

The Auditor shall express an opinion on the Project Financial Statements (PFS). The audit report of the Project accounts should include a separate paragraph highlighting key internal control, weaknesses and non-compliance with the financing agreement terms. The audit report must contain comments, observations and an opinion on each of the audit scopes above, as well as a general opinion of the project. Before finalizing the audit report the auditors must discuss their findings with medica Liberia and will present or incorporate these responses in the audit report

The auditors must submit the final audit report in English, to medica Liberia (mL), in two (2) copies.

Timeframe of Audit: June, 2021 to July 2021

In addition to the audit opinion, the auditor will prepare a “management letter”, in which the auditor will:

(a) Provide comments and observations on the accounting records, systems, and controls that were examined during the course of the audit;

(b) Identify specific deficiencies and areas of weakness in systems and controls and make recommendations for their improvement;

(c) Report on the degree of compliance with the financing agreement and give comments, if any, on the internal and external matters affecting such compliance;

(d) Communicate matters that have come to attention during the audit which might have a significant impact on the implementation of the project.

Coverage of Assignment:

Both Monrovia and Field offices are inclusive for this audit. medica Liberia and the audit firm will determine locations of the audit.

REQUIREMENTS

The audit Firm must hire adequate staff with the relevant professional qualifications and suitable experience with ISA standards.

Audit Manager: Professional Accountant with a Master’s Degree or equivalent, with (CA, ACCA,) etc., and a minimum of eight (8) years post qualification experience on similar audit assignments;

Audit Supervisor: (1) Professional Accountant, with a Bachelor Degree and (CA, ACCA) or equivalent professional qualification with a minimum of three to five years audit experience; two of which should have been on the audit of a non-governmental Organization.

Audit Senior: Should be a qualified Accountant with a Bachelor Degree and (of the professional examinations of ACCA, ACA) or equivalent professional accountancy body with a minimum three to five years of audit experience; two of which should have been on the audit of a non governmental Organization.

Curriculum Vitae (CVs) should be provided to medica Liberia (mL), by the principal of the firm of auditors who would be responsible for signing of the opinion, and with the CVs of managers, supervisors and key staff that will be proposed for this assignment. Their CVs should include details on audits carried out by applicable staff, including past and current assignments carried out which are in line with mL requirements.

Closing Date:- June 7, 2021

All interested applicants should submit their bids via (recruit@medicaliberia.org) and copy adjwoa.mensah@medicaliberia.org, caroline.bowah@medicaliberia.org with reference “mL Organizational Audit” as the subject of their mail.

Liberian Firms are encouraged to apply.