The Nigeria INGO Forum (NIF) invites interested and qualified consultants to tender RFP documents for the following works:
The Nigeria INGO Forum (NIF) is an alliance of international NGOs providing humanitarian and development assistance in Nigeria. We exist to facilitate members' collective action in the principled and effective delivery of much needed assistance to save and improve the lives of poor and vulnerable people.
Applications are invited for:
Title: Request for Proposal for Financial Auditor (Consultant)
Since 2014, the Nigeria INGO Forum (NIF) has existed as a membership-driven platform, currently having 54 international NGOs operating in Nigeria as members. IMMAP is the current host agency of NIF. NIF provides a collective voice for members to elevate humanitarian and development operational realities and challenges nationally, regionally, and internationally.
Through strengthening coordination, increasing information sharing and fostering partnerships with all actors, including the Government of Nigeria, United Nations, national NGOs, and donors, NIF works as the critical link pushing for increased efficiency and effectiveness in the delivery and usage of much-needed aid to affected populations.
- To review the Project’s Financial Statements and Financial Position for the Twelve-month period from November 1, 2020, to 31st October 2021.
The specific objectives of the financial review are:
- Express an opinion on whether the Project Financial Statements presents fairly, in all material respects, revenues received, costs incurred, and commodities procured by NIF for the above-mentioned period in conformity with the terms of the agreements and generally accepted accounting.
- Evaluate and obtain a sufficient understanding of NIFs internal controls, assess control risk, and identify reportable conditions, including material internal control weaknesses.
- Review all expenses to determine whether NIF is compliant in all material respects, with the agreement term and applicable tax laws and regulation.
The Audit Team will examine the Project Financial Statements including the payments received from NIFs members; the costs reported by NIF as incurred during that period; and the commodities and services directly procured by NIF.
The auditor must evaluate program implementation actions and accomplishments to determine whether specific costs incurred are allowable, allocable, and reasonable under the agreement terms and applicable cost principles, and to identify areas where fraud and illegal acts have occurred or are likely to have occurred because of inadequate internal control. At a minimum, the Audit Team must:
- Review direct costs billed to and reimbursed by NIF and costs incurred but pending reimbursement by NIF, identifying and quantifying any questioned costs. All costs that are not supported with adequate.
- Documentation or are not in accordance with the agreement terms must be reported as questioned. Questioned costs that are pending reimbursement by NIF must be identified in the notes to the Project Financial Statements. Questioned costs must be presented in the Project Financial Statements in two separate categories:
- Ineligible costs that are explicitly questioned because they are unreasonable; prohibited by the agreements or applicable laws and regulations; or not program related.; and
- Unsupported costs are those that were presented with inadequate documentation and/or did not have required prior approvals or authorizations. All questioned costs resulting from instances of non-compliance with agreement terms and applicable laws and regulations must be included as findings in the Management Letter.
- Review general and program ledgers to determine whether costs incurred were properly recorded. Reconcile direct costs billed to, and reimbursed by, NIF to the program and general ledgers.
- Review the procedures used to control the funds, including their channeling to contracted financial institutions or other implementing entities. Review the bank accounts and the controls on those bank accounts. Perform positive confirmation of balances, as necessary.
- Review travel and transportation charges to determine whether they are adequately supported and approved. Travel charges that are not supported with adequate documentation or not in accordance with agreements and regulations must be questioned in the Project Financial Statements.
- Review commodities (e.g., supplies, materials, vehicles, equipment, food products, tools, etc.) procured by NIF. The Audit Team must determine whether commodities exist or were used for their intended purposes in accordance with the terms of the agreements, and whether control procedures exist and have been placed in operation to adequately safeguard the commodities.
- Review tax rebates where NIF has withheld the right rates in accordance with the laws of Nigeria (these rates include; WHT and PAYE).
The major internal control components to be studied and evaluated include, but are not limited to, the controls related to each revenue and expense account on the Project Financial Statement. The Audit Team must:
- Obtain a sufficient understanding of the internal controls to plan the review and to determine the nature, timing and extent of tests to be performed.
- Assess inherent risk and control risk, and determine the combined risk.
- Summarize the risk assessments for each assertion in a working paper. The risk assessments must consider the following broad categories under which each assertion should be classified:
- Existence or occurrence
- Rights and obligations
- Valuation or allocation
- Presentation and disclosure.
If the control risk is assessed at the maximum level for assertions related to material account balances, transaction classes, and disclosure components of financial statements when such assertions are significantly dependent upon computerized information systems, the Audit Team must document in the working papers the basis for such conclusions by addressing:
- The ineffectiveness of the design and/or operation of controls, or
- The reasons why it would be ineffective to test the controls.
Evaluate the control environment, the adequacy of the accounting systems, and control procedures. This evaluation must include, but not be limited to, the control systems for:
- Ensuring that charges to the program are proper and supported;
- Managing cash on hand and in bank accounts;
- Procuring goods and services;
- Managing inventory and receiving functions;
- Ensuring compliance with agreement terms and applicable laws and regulations that collectively have a material impact on the Project Financial Statements.
Review Procedures and Reporting:
- The Audit Team should exercise due professional care and judgment and determine the nature, timing, and extent of review procedures to fit the objectives, scope and context of the review.
Deliverables and Responsibilities
At the end of the assignment the following deliverables are expected to be shared and will illustrate the evidence found that responds to the purpose, objectives and questions listed in the ToRs:
- Provide a document final report of findings with recommendations.
- Debrief the Programs department and management on findings from the audit.
Applications Closing Date
22nd November, 2021.
How to Apply
- Send a proposal which includes the Technical and financial proposals (budget breakdown in NGN).
- The proposal should include your proposed methodology and should highlight the experience of the auditor/organization.
- Initial Briefing discussion - 24th of November 2021
- Audit - 24th - 29th November.
- Exit meeting - 30th November.