Job Description
TECHNOSERVE INC. (TNS)
Request for Proposals
Reference No.: RQ2535
Due Date for Responses: 03/18/2024
General Information
Opportunity Title
Annual Financial Report Statutory Audit
PROJECT BACKGROUND
TechnoServe Inc. (TNS) – Nigeria, invites your firm to participate in this competitive solicitation for pricing, delivery and terms of potential sale on the following service for TNS office in Nigeria.
INTRODUCTION
TechnoServe is an independent, non-governmental organization that works with enterprising people in the developing world to build competitive farms, businesses, and industries. We are a non-profit organization that develops business solutions to poverty by linking people to information, capital, and markets. Our work is roote d in the idea that given the opportunity, hardworking men and women in even the poorest places can generate income, jobs, and wealth for their families and communities. With more than four decades of proven results, we believe in the power of private enterprise to transform lives.
Technoserve is requesting interested experienced audit firm to submit proposals based on the following:
Scope of Work
(1) GENERAL REQUIREMENTS & SCOPE OF WORK
The objective of the audit of the Financial Statements is to enable the auditor to express a professional opinion on the financial statements at the end of the reporting period and of the funds received and expenditures for the reporting period, in all material respects, been used in conformity with the provisions of the donors, including any amendments thereto as contained in implementation letters, and any applicable guidelines in force and applicable to the audit scope, and with due attention to economy and efficiency.
To confirm that the Financial Statements agree with the general ledger (books of account) and Trial Balance (TB) which provide the basis for preparation of the Financial Statements and are established to reflect the financial transactions in respect of all interventions, as maintained by TechnoServe Nigeria.
To ascertain that the Financial Statements agree or reconcile with any other information reported to TNS using International Financial Reporting Standard (IFRS).
The audit will be carried out in accordance with International Standards of Auditing (ISA). It will include such tests and controls as the auditor considers necessary including any visits to TNS operation office across the country. Representative sampling may be used as the auditor considers necessary.
Specific focus will be:
· To establish that the funds have been recorded and funds have been expended in accordance with the terms and conditions of the contract.
· Items and services have been procured in accordance with the guidelines included in the contract.
· Necessary supporting documents, records and accounts have been kept in respect of all TNS expenditure.
· To establish the physical existence of TNS-funded project assets per the asset register, their conditions and locations.
· Whether the systems, procedures and controls, contractual or otherwise, adopted by TNS are efficient, effective and transparent.
· Whether these systems, procedures and controls enable TNS to discharge its contractual obligations to donors including its financial and project management obligations.
· Whether improvements to TNS systems, procedures and controls can be made as a result of the findings of this audit.
· Whether the funds in TNS account were deposited, transferred and expensed properly in compliance with TNS guidelines and other relevant financial policies and procedures as may be stipulated under the TNS donor contracts.
Methodology
The approach should include but not be limited to using sample selection:
· Hold separate pre-engagement meetings with the TechnoServe Nigeria to present an outline of the planned approach for conducting the exercise.
· Request and hold formal interviews with the financial management team with a view to forming an understanding on the effectiveness of TNS’s internal control system.
· Examination of the financial transactions of the various projects under the management of the Company for the above period in line with expectations set out in TNS financial policy (to be made available after the contract has been executed).
· Review and vet invoices for fees and reimbursable expenses
· Deliverables from short and long term consultancies were properly delivered and received before relevant costs were charged to TNS.
(1) Review and vet bills paid for services rendered by contractors and ascertain that:
(2) Services billed in the period under review are covered in the relevant sub-contracts.
(3) Contractually agreed deliverables have been achieved and approved by appropriate authority within the Company.
(4) Review the procurement process and procedures for short term contracts for the period under review and ascertain that:
(5) Transparent and open systems are in place to ensure negotiations for contracts (services, works and printing) are competitive and represent good value for money.
· Review the assets register to ensure it is up to date and confirm that.
· The physical existence and conditions of assets in project sites.
· Express an opinion on the cost effectiveness, accuracy and completeness (i.e. value for money) of the financial transactions for the period under review.
· Review grant, sub-grant processes and procedures
· Bring to the attention of TNS any suspected fraud or irregularity that arises during the course of the audit and communicate matters that have come to attention during the audit which might have a significant impact on the implementation of TNS projects.
Required Deliverables
Deliverables
· Audited financial report (hard and soft copies) for the period noted.
· A management letter, which should highlight observed weaknesses in the system of internal control and the recommendations for managing the identified issues.
Anticipated Start Date
03/27/2024
Performance Location
The performance location is FCT-Abuja
Additional Information
PERIOD OF PERFORMANCE
This exercise is required to give full and satisfactory audit discharge to the project expenditure from January 1, 2023 to December 31, 2023. Proposals shall detail the estimated length of time required to accomplish all requirements, with detail on individual activity implementation dates, as referenced in the Scope of Work
CRITERIA FOR SELECTION
The evaluation of each response to this RFP will be based on the requirements set out in the solicitation and any addenda thereto. At the sole discretion of TNS, the top proposals may be selected for follow-up questions or to provide an oral presentation
TechnoServe reserves the right to award the contract to the organization whose proposal is deemed to be in the best interest of and most advantageous to TNS and the Donor.
TechnoServe will not award a contract to any bidder where there is indication of a lack of business integrity.
The Organization with the winning proposal will be notified in writing. Those who were not selected may or may not be notified, at the sole discretion of TNS.
TERMS AND CONDITIONS
(1) The Request for Proposal is not and shall not be considered an offer by TechnoServe.
(2) All responses must be received on or before the date and time indicated below. All late responses will be rejected.
(3) All unresponsive responses will be rejected.
(4) All proposals will be considered binding offers. Prices proposed must be valid for the entire period provided by the respondent or required by RFP.
(5) All awards will be subject to TNS contractual terms and conditions and contingent on the availability of donor funding.
(6) TNS reserves the right to accept or reject any proposal or cancel the solicitation process at any time, and shall have no liability to the proposing organizations submitting proposals for such rejection or cancellation of the request for proposals.
(7) TNS reserves the right to accept all or part of the proposal when award is provided.
(8) All information provided by TNS in this RFP is offered in good faith. Individual items are subject to change at any time, and all bidders will be provided with notification of any changes. TNS is not responsible or liable for any use of the information submitted by bidders or for any claims asserted therefrom.
(9) TNS reserves the right to require any bidder to enter into a non-disclosure agreement.
(10) The bidders are solely obligated to pay for any costs, of any kind whatsoever, which may be incurred by the bidder or any third parties, in connection with the Response. All responses and supporting documentation shall become the property of TNS, subject to claims of confidentiality in respect of the response and supporting documentation, which have been clearly marked confidential by the bidder.
(11) Bidders are required to identify and disclose any actual or potential Conflict of Interest.
FORM/CONTENT OF RESPONSE
All proposals shall:
(1) Be in the English language.
(2) Contain detailed cost in Nigerian Naira, with applicable Tax/Charges clearly identified. Please note that TNS Nigeria has its tax-exempt status on goods and also a government agent for the withholding of relevant taxes such as (Withholding Tax) and remits the same to the government.
(3) Provide the organization’s Tax Identification Number and indicate the Tax Authority.
(4) Provide requested payment terms and conditions.
(5) Describe the qualifications, experience and capabilities of the firm in providing the type of services being request by this RFP. Resumes or CVs of “key personnel” shall be submitted as an attachment.
(6) Include a contact name, email address, and telephone number to facilitate communication between TNS and the submitting organization.
(7) Email subject must contain “Annual Statutory Audit”
(8) A brief outline of the organization and services offered, including:
· Full legal name, jurisdiction of incorporation and address of the company
· Full legal name and country of citizenry of company’s President and / or Chief Executive Officer, and all other officers and senior managers of the company
· Year business was established