Oxfam in Azerbaijan Representative office announces tender on assignment of internationally recognized independent audit and consulting network firm to conduct an agreed upon procedures for the project financed by its European Donor.
Key requirements for the audit firms:
- Audit firm should have a good reputation in the market
- To have professional staff that has extensive experience in the field of review of projects under mandate or contribution contracts /agreed upon procedures
- To deliver the financial review report until 17 March 2014.
- Hold the license of the Chamber of Auditors of Republic of Azerbaijan
- To proof that they represent of the internationally recognized audit and consulting network firm
- To have an experience with INGOs
- The financial review report of the auditor and all other documents resulting from the financial review engagement must be in English
Period and size of engagement
Audit firm will check the financial activity (about 400,000 AZN) of project for 1 year.
Scope of the financial review services (agreed upon procedures)
The financial review is based on the professional requirements and guidelines governing the professional work to be undertaken by an auditor in relation to an agreed-upon procedures engagement.
In planning, conducting and reporting on the financial review, the auditor shall be given due considerations to the following auditing and other standards promulgated by international professional bodies:
ISA - International Standards on Auditing,
IFAC – International Federation of Accountants
Overall principles of the agreed upon procedures
The auditor is required to plan, execute and report on the financial review engagement in order to form a professional judgment on the following matters relating to the activities and the organisation of the partner:
- Principles of orderliness (financial regularity)
- Existence, adequacy and effectiveness of the Internal Control System (ICS)
- Conformity with the project objectives and adherence to the contract conditions
- Economical conduct of business and effective use of financial resources
In addition, the relevant standards of the local accounting profession as well as the local legislation on accounting and reporting in force in the country in which the financial review is carried out need to be taken into consideration by the auditor.
Description of findings and recommendations of review report
In his financial review report, the auditor is expected to
- Formulate recommendations for the improvement of the internal control system (ICS) as well as of project and accounting procedures.
- explain and quantify any adjusting and/or reclassification entries, and to
- To present the other specific principles/procedures specified in the Terms of reference
Sets of documents to submit for the tender
- Official proposal form
- Copy of registration documents (Charter of entity, Tax ID, latest extract from state register)..
- Copy of branding/franchising agreement with international network firm
- Copy of license of the Chamber of Auditors of Republic of Azerbaijan
- Bank statements of firm for the last 1 year
- 2 references from recent customers
The firms meeting key requirements of this tender may submit hard copy of their proposals and accompanying documents to the OXFAM GB office address below until 5th of February 2014 at 17.00 pm.
Address of Oxfam in Azerbaijan Representative office:
World Business Center, 6th floor
S. Rahimov Str., block 309
Baku, Azerbaijan AZ 1014
Tel: (994 12) 597 30 29/28
Fax: (994 12) 597 30 19