Call for National Proposal for Consultancy Service for the Audit of Account Books at Nuru Nigeria

Applications are invited for:

Title: Call for National Proposal for Consultancy Service for the Audit of Account Books of Nuru Nigeria

Location: Yola, Adamawa
Type: Contract

Description

• Nuru Nigeria is requesting proposals from certified Accountancy firms that have extensive experience in auditing the books of Not-for-Profit Organizations.
• The organization has a December 31 fiscal year-end.
• We are utilizing Odoo for all financial Records, procurements, we are seeking an external firm to audit our books for the fiscal year 2025 (January 1st, 2025, to December 31st, 2025).

Key Principles
Ethical Standards and Code of Conduct:

• It is important to be mindful that NURU NIGERIA honestly and transparently conducts its business activities without any interference and in compliance to donor and local law guiding the industry. Therefore, consultants working with NURU NIGERIA must abide by its ethical standards and code of conduct stipulated below.
• NURU NIGERIA ethical standards include avoidance of child labor, child safeguarding and protection, respect of basic social rights and working conditions based on international Labor Standards, environmental conditions and the avoidance by contractors of any connection with a party to a conflict, involvement in the exploitation of natural resources, in particular commodities such as precious metals, stone and rare earth.
• Nuru’s approach of sustainable, locally led development is based on this philosophy: a strong African woman who possesses the same skill set and knowledge as an international development expert is far more capable of sustainably ending extreme poverty in her country than the expert will ever be. From day one, every Nuru project starts with building local ownership and buy-in. Nuru starts a separate local organization (with its board) in each country in which it operates. Nuru acts as the scaffolding around the local organization. Needs are identified with the community. Programs are co-designed locally. As the local organization matures, Nuru removes layers of scaffolding until the international team eventually leaves after 5-7 years. The local organization continues to make an impact, scale, and adapt. Nuru has already accomplished this exit with its projects in Kenya (exited June 2015) and Ethiopia (exited June 2018). Nuru’s work in Kenya also featured in 2020 as part of a three-year USAID-funded research study called “Stopping As Success: Planning For Success From Start To Exit”
• Nuru Nigeria was established in 2018 to help Nigerian farmers and their families lift themselves out of extreme poverty by helping farmers move from subsistence to building thriving farmer-owned and farmer-led cooperatives. Nuru Nigeria works with farmers in northern Adamawa State to end extreme poverty and build resilient communities. Nuru believes that the best solutions to fighting extreme poverty come from the local community, and we are a 100% locally-led organization with locally-designed solutions built for driving long-term positive impact for our farmers.

Our Understanding of Your Needs
Background/Overview:

• Nuru Nigeria was established in 2018 to assist Nigerian farmers, and their families lift themselves out of extreme poverty by helping farmers move from subsistence to building thriving farmer-owned and farmer-led cooperatives.
• Nuru Nigeria mission is to Build resilience corridors of functioning locally owned farmer cooperatives and profitable rural livelihoods in 12 Local Government Areas (LGAs) of Northern Nigeria proximate to conflict-vulnerable areas by 2030.
• Nuru believes that the best solutions to fighting extreme poverty come from the local community, and we are a 100% locally led organization with locally designed solutions built for driving long-term positive impact for our farmers.

The objective of the Assignment
The major objective of the audit exercise is:

• The audit must be conducted in accordance with recognized international standards -ISA (IFAC) ISSA 1(INTOSAI), or similar international standards.
• The auditor must verify whether the Organization’s financial statements present a fair and true view, regarding the operations included in financial statements.
• The auditor with a special focus on accounting practices, financial management, and internal control.

Scope of Assignment
Nuru Nigeria is interested to hire the services of a certified audit firm to provide audit services to Nuru Nigeria for the period of 1st January to 31st December 2025 and request for a tax clearance certificate for the year 2025 for the organization and for Nuru Nigeria Staff. The scope of the audit is to assess the following project documents:

• Annual audit of Nuru’s financial statement in accordance with all applicable audits; accounting and financial reporting standards.
• Audit will cover the entire Nuru Nigeria funds and Projects being implemented.
• The audit will be carried out in accordance with International Standards on Auditing (ISA) or International Standards of Supreme Audit Institutions (ISSAIs) or national auditing standards (where these do not materially differ from ISAs or ISSAIs) and will include such tests and controls as the auditor considers necessary under the circumstances.

Job Summary

• Nuru Nigeria is interested in hiring a certified audit firm to provide audit services to the Nigeria Country office (CO) for the period of January to December 2025 and requests a tax clearance certificate for the year 2025 for the organization and for Nuru Nigeria Staff.
• Our vision is to cultivate lasting meaningful choices in the most vulnerable and marginalized communities in the world, starting in northern Nigeria.
• By 2030, our mission is to build resilience corridors of strong, locally owned farmer cooperatives driving profitable livelihoods in Twelve conflict-vulnerable local government areas in Northern Nigeria.

Objectives and Scope of the Audit

• The objective of the audit of NURU NIGERIA Financial statements is to enable the auditor to express an independent professional opinion as to whether the financial statements in all material respects present a true and fair view of NURU NIGERIA state of affairs, in compliance with international financial reporting standards (IFRS) and other regulations in Nigeria.
• The book of accounts provides the basis for the preparation of NURU NIGERIA Financial statements and is established to reflect the financial transactions in respect of the project. NURU NIGERIA maintains adequate internal controls and supporting documentation for transactions relevant to preparing and presenting financial statements.
• The audit will be conducted in accordance with the International Auditing Standards and will include tests and verification procedures as the auditors deem necessary.
• All funds have been used in accordance with the conditions of relevant financing agreements, with due attention to economy and efficiency, and only for the purpose for which financing was provided.
• Appropriate supporting documents, records, and books of accounts relating to all activities have been kept. Clear linkages between the books of accounts and the financial statements presented.
• The financial statements have been prepared by NURU NIGERIA management in accordance with applicable accounting standards and give a true and fair view of the financial position of NURU NIGERIA and its receipts and expenditures for the period ended on that date.
• Comprehensive assessment of the adequacy and effectiveness of the accounting and overall internal control system to monitor expenditures and other financial transactions.
• Perform tests to determine whether the Nuru complied, in all material respects, with policies and procedures set forth by the Nuru Nigeria and applicable laws and regulations in Nigeria. Material instances of noncompliance and all illegal acts should be identified.
• Express an opinion as to the reasonableness of the financial statements in all material respects.
• Included in their reports opinion on compliance with procedures designed to provide reasonable assurance of detecting misstatements due to errors or fraud that are material in the financial statements.
• All currency amounts included in the final audit report should be reported in both Naira. The auditors should indicate the exchange rate(s) used in the notes to the fund accountability statement.
• Auditors must design audit steps and procedures in accordance with the necessary standards, to provide reasonable assurance of detecting situations or transactions in which fraud or illegal acts have occurred or are likely to have occurred. If such evidence exists, the auditors must contact the appropriate Nuru Board and should exercise due professional care in pursuing indications of possible fraud and illegal acts so as not to interfere with potential future investigations or legal proceedings.
• Upon completion of the audit, the audit firm will be expected to request a tax clearance certificate.
• In addition to the audit report, the auditors will prepare a management letter, in which the auditor will.
  • Give comments and observations on the accounting records, procedures, systems, and controls that were examined during the cause of the audit.
  • Report on the degree of compliance for financial covenants in the financing agreement and give comments, if any, on the internal and external matters affecting such compliance.
  • Identify specific deficiencies and areas of weaknesses in the system and controls and make recommendations for improvement.
  • Communicate matters that have come to their attention during the audit which might have a significant impact on the sustainability of the organization

Deliverables

• Upon completion of the audit work, the auditors will submit 2 (two) original hard copies and soft copies of the audited report appended to the financial statements along with the reports to the attention of the Managing Director.
• Management letter per the scope of work described above provides a tax clearance certificate for the year 2025 for Nuru Nigeria.

Eligibility Criteria

• Please read this section carefully and be sure that all requested information is included in your submission. Evaluators will neither make assumptions nor draw inferences regarding missing or incomplete information.
• The submission of incomplete information could result in the rejection of submissions.
• Quotations should be comprehensive and highlight how the bidding company intends to meet our requirements as stated above, in addition to clearly stating service costs and/or rates of commission, proposals from the interested firm must meet the following criteria;
  • Evidence of Valid Practicing License issued by the relevant professional body.
  • Evidence of valid registration with the Corporate Affairs Commission with a copy of the Memorandum and Article of Association and a Copy of forms CAC2 and CAC7.
• The firm profile, evidence of corporate office, phone number, and email address, including professional qualifications of key staff, and experience with respect to similar successful previous engagements.
• Audited accounts of the firm for the last three years i.e., 2021, 2022, and 2023, evidence of valid tax clearance certificates for the year 2023.
• Demonstrable experience in the audit of an International Non-Governmental Organization (INGO) and a Verifiable list of previous/similar projects/work carried out in the recent past.
• Evidence of tax clearance certificate for the last three years Tax Identification Number (TIN)
• Evidence of financial capability and bankers’ support letters
• Explain clearly other services your company specializes in.

A completed RFQ should contain the following:

• Completed Quotations for the Audit exercise in the three States.
• Availability to conduct the exercise within 15 days, if chosen.
• Company Profile with the supporting documents.

Proposal`s Content

• The proposal should have a detailed and general background of the firm including a brief assessment of what our needs are and how your firm proposes to meet those needs.
• Please read this section carefully and be sure that all requested information is included in your submission. Evaluators will neither make assumptions nor draw inferences regarding missing or incomplete information.
• The submission of incomplete information could result in the rejection of submissions.

Auditor’s Report:

• The audit shall be conducted in accordance with International Standards on Auditing (ISA) 800 “The Independent Auditor’s Report on Special Purpose Audit Engagements and as promulgated by the International Federation of Accountants and that standards used for the preparation of the financial statements are in accordance with the International Financial Reporting Standards.
• The auditor should submit three copies of the reports in English along with PDF copies of the reports to the Managing Director. The reports must contain a title page, table of contents, transmittal letter, and a summary which includes:
  • A background section with a general description of the Nuru audited, the period covered, the program objectives, a clear identification of all entities mentioned in the report, a section on the follow-up of prior audit recommendations.
  • The objectives and scope of the financial audit and a clear explanation of the procedures performed and the scope limitations, if any;
  • A brief summary of the audit results on the fund accountability statement, questionable costs, internal control, compliance with agreement terms and applicable laws and regulations, status of prior audit recommendations, and, if applicable, the Nuru’s general purpose financial statements on an organization-wide basis.
  • A brief summary of the Nuru's management comments regarding its views on the audit and review results and findings.

The section of the report on the fund accountability statement:

• The auditors should identify any material questioned costs not fully supported with adequate records or not eligible under the terms of the agreements.
• The auditor's opinion on whether the fund accountability statement presents fairly, in all material respects, program revenues, costs incurred, and commodities and technical assistance directly procured by the Nuru in accordance with the terms of the agreements and in conformity with generally accepted accounting principles or other basis of accounting.
• This opinion must clearly state that the audit was performed in accordance with applicable standards.

The section of the report on internal controls:

• The auditor's report must include as a minimum: (1) the scope of the auditor's work in obtaining an understanding of internal control and in assessing the control risk, and; (2) the reportable conditions, including the identification of material weaknesses in the Nuru's internal control. Reportable conditions must be described in a separate section.

The section of the report on compliance:

• The auditor's report on the Nuru's compliance with agreement terms and applicable laws and regulations should detail any nonmaterial instances of noncompliance should be communicated to Nuru Nigeria in a separate management letter but should also be sent with the audit report.
• The findings contained in the reports must include a description of the condition (what is) and criteria (what should be). The cause (why it happened) and effect (what harm was caused by not complying with the criteria) must be included in the findings. In addition, the findings must contain a recommendation that corrects the cause and the condition, as applicable. It is recognized that material internal control weaknesses and noncompliance found by the auditors might not always have all of these elements fully developed, given the scope and objectives of the specific audit.
• The auditors must, however, at least identify the condition, criteria and possible effect to enable management to determine the effect and cause. This will help management take timely and proper corrective action.
• The Auditor’s report shall include an audit opinion. See the example and format for the Auditor’s report, appendix 1.

Management Letter:

• The auditor shall also, attached to the Auditor’s Report, submit a Management letter that needs to describe the purpose and the agreed-upon procedures of the engagement in sufficient detail to enable the reader to understand the nature and the extent of the work performed.
• The Management letter shall also include factual findings. See the example and format for a Management letter attached to the Auditor's report, appendix 2. A management response is necessary for all findings.

Appendix 1
Opinion:

• We have audited the financial statements of Nuru Nigeria Development Initiative Limited by Guarantee which comprise the statement of financial position as at ……………………….., statement of activities, statement of functional expenses, and the statement of cash flows for the period then ended, and notes to the financial statements, including a summary of significant accounting policies.
• In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Nuru Nigeria Development Initiative Limited by Guarantee as at end of 2025 and its financial activities and cash flows for the year that ended by International Financial Reporting Standards (IFRS) issued by International Accounting Standards Board, Financial Reporting Council of Nigeria Act No 6, 2011 and the provisions of Companies and Allied Matters Act, CAP C20, Laws of the Federation of Nigeria 2004.

Basis of Opinion:

• We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of Financial Statements section of our report.
• We are independent of Nuru Nigeria Development Initiative Limited by Guarantee in accordance with the International Federation of Accountants (IFAC code) and other independence requirements applicable to perform audits of Nuru Nigeria Development Initiative Limited by Guarantee.
• We have fulfilled our other ethical responsibilities in accordance with the IFAC Code, and in accordance with other ethical requirements applicable to performing the audit of Nuru Nigeria Development Initiative Limited by Guarantee.
• We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other Information
Responsibilities of Trustees and Auditor’s for the Financial Statements:

• The Nuru Nigeria may meet with the public accounting firm at the beginning of the audit to explain any financial/compliance areas that should be emphasized. The Nuru will also share with the auditors at this meeting, the following documents:
• A list of all payments made for assets, equipment, materials, and technical assistance purchased by the Nuru Nigeria from third parties for the period being audited with copies of vouchers with supporting documentation.
• A list of all advances and recoveries made during the audit period; and
• A list of all disbursements.

Report on Other Legal and Regulatory Requirements:

• [Date and place]
• [Name and title of auditor]
• [Address].

Appendix 2:

• Example format for the Management Letter/Report of Factual Findings---------------------
• Report of Factual Findings: To [CO Name] Management.

Scope of audit:

• The auditors should use the following steps as the basis for preparing their audit programs and their review.
• They are not considered all-inclusive or restrictive in nature and do not relieve the auditor from exercising due professional care and judgment.
• The steps should be modified to fit local conditions and specific program design, implementation procedures, and agreement provisions, which may vary from program to program.

Pre-Audit Steps
Following is a list of documents applicable to Nuru purchases and payments. The auditor should review the applicable documents considered necessary to perform the audit:

• Obtain an understanding of Nuru’s internal control plans and procedures.
• The sub-agreements between the Nuru and other implementing entities, as applicable.
• Contracts and subcontracts with third parties, if any.
• The budgets, implementation letters, and written procedures approved by Nuru.
• All Nuru financial reports; and charts of accounts, organizational charts; accounting systems descriptions; procurement policies and procedures; and receipt, warehousing and distribution procedures for materials, as necessary to successfully complete the required work.

Fund Accountability Statement:

• The auditors must examine the fund accountability statement for the Nuru including the budgeted amounts by category and major items; the revenues received from all sources for the period covered by the audit; the costs reported by the Nuru as incurred during that period.
• The revenues received from all sources less the costs incurred, after considering any reconciling items, must reconcile with the balance of cash-on-hand or in bank accounts.
• The auditors may prepare or assist the Nuru in preparing the fund accountability statement from the books and records maintained by the Nuru, but the Nuru must accept responsibility for the statement's accuracy before the audit commences.
• The audit must evaluate whether specific costs incurred are allowable, allocable, and reasonable under the terms of any relevant agreements, and identify areas where fraud and illegal acts have occurred or are likely to have occurred as a result of inadequate internal control.

At a minimum, the auditors must:

• Review direct and indirect costs billed to or financed by all Nuru funding sources, and determine whether they were allowable and reasonable, according to the applicable rules and regulations.
• 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 must be presented in the fund accountability statement in two separate categories:
  • (a) ineligible costs that are explicitly questioned because they are unreasonable; prohibited by the agreements or applicable laws and regulations; or not program related; and
  • (b) unsupported costs that are not supported with adequate documentation or did not have required prior approvals or authorization.
• All material questions costs resulting from instances of noncompliance with agreement terms and applicable laws and regulations must be included as findings in the report on compliance.
• Also, the notes to the fund accountability statement must briefly describe both material and immaterial questioned costs and must be cross-referenced to any corresponding findings in the report on compliance.
• Review general and program ledgers to determine whether costs incurred were properly recorded. Reconcile direct costs billed to and reimbursed by the Nuru Nigeria and other sources of Nuru financing.
• 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.
• Determine whether advances of funds were justified with documentation, including reconciliations of funds advanced, disbursed, and available. The auditors must ensure that all funding received by the Nuru Nigeria was appropriately recorded in the Nuru’s accounting records and that those records were periodically reconciled with information provided by the Nuru or other sources of funding.
• Determine whether program income, if applicable, was added to funds used to further eligible project or program objectives, to finance the non-federal share of the project or program, or deducted from program costs.
• Review procurement procedures to determine whether sound commercial practices including competition were used, reasonable prices were obtained, and adequate controls were in place over the qualities and quantities received.
• Review direct salary charges to determine whether salary rates were reasonable for that position and supported by appropriate payroll records. Determine if overtime was charged to the program and whether it was allowable under the terms of the agreements.
• Determine whether allowances and fringe benefits received by employees were in accordance with the agreements and applicable laws and regulations. The auditors should question unallowable salary charges in the fund accountability statement.
• Review travel and transportation charges to determine whether they were 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 fund accountability statement.
• Review commodities (such as supplies, materials, vehicles, equipment, food products, tools, etc.). 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.
• As part of the procedures to determine if commodities were used for intended purposes, the auditors should perform end-use reviews for an appropriate sample of all commodities based on the control risk assessment.
• End-use reviews may include site visits to verify that commodities exist or were used for their intended purposes in accordance with the terms of the agreements.
• The cost of all commodities whose existence or proper use in accordance with the agreements cannot be verified must be questioned in the fund accountability statement.
• Review technical assistance and services. The auditors should determine whether technical assistance and services were used for their intended purposes in accordance with the terms of the agreements.
• The cost of technical assistance and services not properly used in accordance with terms of the agreements must be questioned in the fund accountability statement.
• Review unliquidated advances to Nuru and pending reimbursements by the Nuru’s sources of funding when performing final closeout audits. Ensure that the Nuru returned any excess cash to funders.
• Also, ensure that all assets (inventories, fixed assets, commodities, etc.) procured with program funds were disposed of in accordance with the terms of the agreements.
• The auditors should present, as an annex to the fund accountability statement, the balances and details of final inventories of nonexpendable property acquired under the agreements.

Internal Control Structure:

• The auditors must review and evaluate Nuru’s internal controls, after obtaining a sufficient understanding of the design of relevant control policies and procedures.
• The auditors should determine whether those policies and procedures are well documented, adhered to, and the Nuru is generally in compliance with such policies and procedures.
• Auditors must then prepare the report identifying the reportable conditions that are significant deficiencies in the design or operation of internal control, and the reportable conditions considered to be material weaknesses.
• Material weaknesses are reportable conditions in which the design or operation of the specific internal control elements do not reduce to a relatively low level the risk that errors or fraud in amounts that would be material in relation to the fund accountability statement may occur and not be detected in a timely manner by management performing its normal functions.
• Reportable conditions, including material weaknesses, must be set forth in the report as "findings". Reportable conditions involve matters coming to the auditor’s attention relating to significant deficiencies in the design or operation of internal control that, in the auditor’s judgment, could adversely affect Nuru’s ability to record, process, summarize, and report financial data consistent with the assertions of management in the fund accountability statement and cost-sharing schedule.
• Non reportable conditions should be included in a separate management letter to the Nuru and referred to in the report on internal control.
• 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 fund accountability statement.

The auditors must:

• Obtain a sufficient understanding of internal control to plan the audit and to determine the nature, timing and extent of tests to be performed.
• Assess inherent risk and control risk and determine the combined risk. Inherent risk is the susceptibility of an assertion, such as an account balance, to a material misstatement assuming there are no related internal control policies or procedures. Control risk is the risk that a material misstatement that could occur in an assertion will not be prevented or detected in a timely manner by the entity’s internal control policies or procedures. Combined risk (sometimes referred to as detection risk) is the risk that the auditor will not detect a material misstatement that exists in an assertion. Combined risk is based upon the effectiveness of an auditing procedure and the auditor’s application of that procedure.
• Summarize the risk assessments for each assertion in a working paper. The risk assessments should consider the following broad categories under which each assertion should be classified:
  • (a) existence or occurrence;
  • (b) completeness;
  • (c) rights and obligations;
  • (d) valuation or allocation; and
  • (e) presentation and disclosure.
• At a minimum, the working papers should identify the name of the account or assertion, the account balance or the amount represented by the assertion, the assessed level of inherent risk (high, moderate, or low), the assessed level of control risk (high, moderate, or low), the combined risk (high, moderate, or low), and a description of the nature, timing and extent of the tests performed based on the combined risk. These summary working papers should be cross-indexed to the supporting working papers that contain the detailed analysis of the fieldwork. If control risk is evaluated at less than the maximum level (high), then the basis for the auditor’s conclusion must be documented in the working papers. If the auditors assess control risk 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 auditors must document in the working papers the basis for such conclusions by addressing (i) the ineffectiveness of the design and/or operation of controls, or (ii) the reasons why it would be inefficient to test the controls.
• Evaluate the control environment, the adequacy of the accounting systems, and control procedures.
• Emphasize the policies and procedures that pertain to the Nuru’s ability to record, process, summarize, and report financial data consistent with the assertions embodied in each account of the fund accountability statement.

Other Audit Responsibilities:

• Schedule and hold entrance and exit conferences with the Nuru Senior Leadership Team.
• During the planning stages of an audit, communicate information to the auditee regarding the nature and extent of planned testing and reporting on compliance with laws and regulations and internal control over financial reporting. Such communication should state that the auditors do not plan to provide opinions on compliance with laws and regulations and internal control over financial reporting. Written communication is preferred. Auditors should document the communication in the working papers.
• Institute quality control procedures to ensure that sufficient competent evidence is obtained through inspection, observation, inquiries, and confirmations to afford a reasonable basis for an opinion regarding the financial statements under audit.

Terms of Performance:

• The effective date of this contract and statement of work will be the date of the Nuru Contracting Officer's signature.
• It is the responsibility of Nuru to ensure that all records are available, all accounting entries and adjustments are made, and all other necessary steps are taken to make it possible for the audit firm to perform the work necessary to be able to present the audit report within 120 calendar days after year end.
• To this end, interim audit work called for during the year being audited will be necessary except in the case of very small Nurus with few transactions.
• The audit shall begin as soon as practicable after the signing of the audit contract.
• The audit firm shall issue a draft report 80 calendar days and a final report 90 calendar days after the audit start or the close of the Nuru's fiscal year, whichever is later.
• Payment will be as follows: 20 percent on the date of this contract, 50 percent on the date of the draft report and 30 percent on the date of the final audit report.

Application Closing Date
23rd March, 2026.

Method of Application
Interested and qualified firms should submit their proposals including financial quotations to:
Nuru Nigeria,
K46 Karewa, GRA Jimeta,
Yola, Adamawa State.
Alternatively,
Bids can also be submitted in soft copies to: procurement@nurunigeria.org with this reference in the subject.

Note

• Bids submitted after the deadline will NOT be accepted.
• For further Info, call: +2347063694440.