AUDIT OF PROJECT FINANCIAL REPORTS – EWIP PROGRAM

1. Introduction

The Oslo Centre, hereafter referred to as the “Cooperation partner” wishes to engage the services of an audit firm for the purpose of auditing the Empowering Women in Politics Programme, as stipulated in the agreement between the Cooperation partner and Christian Democratic International Centre (KIC). The audit shall be carried out in accordance with international audit standards (ISA) issued by IAASB[1]. In addition, an assignment according to International Standards on Related Services (ISRS) 4400 (Revised) shall be carried out. The audit and the additional assignment shall be carried out by an external, independent, and qualified auditor.

2. Objectives and scope of the audit

The objective is to audit the financial report for the period 1st Jan 2023 to 31st Dec 2023 as submitted to Sida and to express an audit opinion according to ISA, applying ISA 800/ISA 805, on whether the financial report of Empowering Women in Politics Programme is in accordance with the Cooperation partner´s accounting records and Sida’s requirements for financial reporting as stipulated in the agreement including appendices between KIC and Cooperation partner (Agreement).

3. Scope

The scope of the audit includes a financial audit as well as a compliance and performance audit.

The financial audit must be carried out in accordance with International Standards on Auditing (ISAs). Other frameworks of auditing than ISAs are accepted as a basis for the audit provided these frameworks result in an audit equivalent to an audit planned and performed according to the ISAs and International Federation of Accountants (IFAC). This will require the audit company to plan and perform procedures based on risk assessment and materiality. Therefore, the audit company must:

• Identify and assess risks of material mis-statements of the financial statements, whether due to fraud or error. Based on the risks identified, the auditor must design and perform relevant audit procedures to obtain sufficient and appropriate audit evidence to serve as the basis for the auditor’s opinion.
• Obtain an understanding of the internal controls relevant to the audit, in order to design appropriate audit procedures. The purpose is not to express an opinion on the effectiveness of the internal controls, but whether these controls pertain to the project costs.
• Evaluate the appropriateness of the accounting policies used in the financial statements, including the reasonableness of estimates and related disclosures. In relation to funds granted through Uraia, this is particularly relevant for accounting policies regarding project costs.

4. Auditor’s Qualifications.

The auditor must satisfy the following minimum requirements:

• A legal entity in Kenya with business license granted by appropriate authority.
• A member of a professional body affiliated with the International Federation of Accountants (IFAC) and Institute of Certified Public Accountants of Kenya (ICPAK).
• Have adequate relevant professional and educational qualifications, or able to provide audit staff with adequate qualifications, experience, and competence.
• Technically competent and able to conduct audit in line with the auditing standards.
• Objective and independent from the project, its staff, and activities, and from all aspects of management or financial interests of The Oslo Center.
• Possesses proven track record in financial audit of INGO projects, or audits of similar nature, type, and complexity, or donor-funded projects.

Interested applicants to visit the link below to download TOR:

https://oslocenter.no/careers/