Audit Service for Youth Empowerment Center(YEC)

Youth Empowerment Center (YEC) is Palestinian non-governmental non-profit organization, working to support the development of Palestinian youth, to lead children, adolescents to discover their purpose, while promoting positive change in the community through Psychosocial support, Learning in Emergency, and hygiene promotion and advocacy programs.

YEC is seeking for an external auditor for a project.

Project Title: Education in Emergency, Enabling Qualitative Learning for Children in Gaza

funded by Caritas_Swiss

Terms of References for Project Audit

Engagements to Perform Agreed-upon Procedures Regarding Financial Information (ISRS 4400) Fundamental principles

The financial audit of projects (“financial audit”) is to be carried out by an independent auditor, having the required professional competence and experience, and in accordance with generally accepted international auditing standards.

The financial audit 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 (ISRS 4400)

In planning, conducting and reporting on the financial audit, 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

ISRS - International Standard on Related Services

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 audit is carried out need to be taken into consideration by the auditor.

Overall objective of the Financial Audit

The overall purpose of the external audit is to review the Financial Report of Project, as well as the correct use of funds received from donors and the transparency of the disclosed accounting and financial information.

The Audit is expected to cover all aspects related to finance and accounting of the project, The Auditor should pay specific attention to:

Documents of reference

The following documents and matters are to be considered by the auditor as basic references for performing the financial audit:

Legislation:     National legislation

Project/program:    Cooperation agreement relative to the project or to the partner organisation; Project Document / Terms of Reference (TOR), Budgets, financing plans, programs of project activities; Project management procedures;
Any other documents concerning the project/program.

Accounting:    Accounting documents subject to the financial audit; Financial and operational reports concerning the project/program.

auditor:    The present terms of reference and the related mandate for financial audit; Prior internal and external audit reports of the partner; Any other information requested from the partner by the auditor.

Management representation of full disclosure

The auditor shall obtain a management representation letter signed by the management of the audited organization, certifying:

the acknowledgement of the organization's responsibility for the keeping of accounts and financial documents that are correct, complete, fair, representing the true facts, in conformity with the objectives of the project, the documents of reference (description of the project, contracts, budgets, etc.) and national legislation

that all accounting records, supporting and other documents, minutes and any other pertinent information necessary for the audit be at the disposal of the auditor

the completeness of information concerning property and goods

the completeness of information concerning financing received or due and own financing concerning the audited period, for the project being examined

the availability of any information and explanations, either orally or by written confirmation, which might be required by the auditor in the execution of his mandate.

In the case of contributions to local NGOs, the declaration has to certify the completeness of information concerning financing received or due and own financing concerning the audited period, for the project being audited and for the examination of the consolidated financial statements of the organization. The consolidated financial statements, including balance sheets and profit and loss statements of the project are to be annexed to the declaration and form an integral part thereof. This declaration shall be included in the financial audit report.

The Audit Company shall submit its CVs/ Company profile showing the followings:

-    The company date of establishment 
-    The founder/s partner/s and Manager/s name/s and Qualifications 
-    The number of offices and branches all over the world.
-    The classification the company (International Company, National Company with international standards, licensed local company etc.)
-    The company Registration and license
-    Any partnership/ representation agreement
-    Any accreditations, participating in international publications, workshops held/attended
-    The number of staff with their classifications.
-    The working team qualifications, experience, licenses, Registration, Memberships and training. 
-    The company distinguished none -profit Clients in the last five years.

Application Procedure:

The interested candidates and who are available for this assignment can visit YEC office to receive the tender booklet for free.

-    Candidates should submit their updated company profile and CVs along with the financial proposal in a package containing two separate envelopes (sealed and stamped) to YEC office, Palestine, Gaza City, Ez-Eldeen Al-Qassam Street, El Loualoaa Building, Near Hamid Junction, 1st Floor , no later than Sunday 10/6/2018(12:30 pm at the latest).
-    Tel: 08 2856624