Call for expression of interest to provide External Audit services to RUFORUM for the year 2017/2018
RUFORUM wishes to engage the services of an External Auditor of international reputation for the year 2017-2018 in accordance with the statutory requirements, International Reporting Standards Guidelines and International Standards on Auditing (ISA).
Scope of the Assignment
The audit will be conducted in accordance with ISA as published by the International Auditing and Assurance Standards Board of the International Federation of Accountants (IFAC), with special reference to ISA 800 (Auditor’s Report on Special Purpose Audit Engagements) and relevant World Bank guidelines.
The audit for financial year 2017-2018 will involve a visit to five member universities to audit the projects funded by RUFORUM. These include: Egerton University, Gulu University, Makerere University, University of Botswana and University of Gezira. In conducting the project audit, special attention should be paid to the following:-
a) Funds have been used in accordance with the relevant general conditions, relevant financing agreements and disbursement letters, with due attention to economy and efficiency, and only for the purposes for which the financing was provided;
b) Goods and services financed have been procured in accordance with the relevant general conditions, relevant financing agreements and disbursement letters;
c) Necessary supporting documents, records, and accounts have been kept in respect of all Project ventures including expenditures reported via Summary Report (or Interim Un-audited Financial Reports (Interim Reports)) if used as the basis of disbursement, or Designated Accounts (DAs). Clear linkages should exist between the accounting records and the financial reports presented to the Bank.
d) Where Designated Accounts have been used, they have been maintained in accordance with the provisions of the relevant general conditions, relevant financing agreements and disbursement letter.
e) The accounting records have been prepared in accordance with generally accepted accounting principles and practices and relevant World Bank guidelines, and give a true and fair view of the financial position of the Project as at financial year-end and of the resources and expenditures for the fiscal year then ending.
f) Review the compliance on each of the financial covenants as per the donor Agreements especially to ensure compliance for the conditions under which the funds were released.