The Jesuit Refugee Service (JRS) invites proposals from qualified auditors to conduct an audit of its operations for the year 2024. This audit will focus on verifying the implementation of projects and reviewing the financial management of the organization for the specified period.
Scope of Work:
Audit Period: The audit will cover the period of verifying the implementation of projects in 2024.
Audit Objectives:
- Verify the expenses incurred in relation to the implementation of projects during the designated period.
- Assess the organizational structure and staff responsibilities, ensuring adherence to the terms and conditions of the projects in question.
- Conduct a thorough review of all expenses and financial reports.
- Evaluate the accuracy and integrity of supporting documentation, ensuring compliance with relevant legal and regulatory requirements.
Standards and Ethics:
The auditor shall carry out the engagement in accordance with:
- International Standard on Related Services (‘ISRS’) 4400 – Engagements to Perform Agreed-Upon Procedures Regarding Financial Information, as issued by the International Federation of Accountants (IFAC);
- The IFAC Code of Ethics for Professional Accountants, developed and issued by the International Ethics Standards Board for Accountants (IESBA), which sets forth fundamental ethical principles for auditors, including integrity, objectivity, independence, professional competence, due care, confidentiality, and professional behavior.
- The auditor must maintain independence from the reporting entity and comply with the independence requirements outlined in the IFAC Code of Ethics for Professional Accountants.
Reference Documents:
In conducting the audit, the auditor shall take into account the following documents:
- National legislation, contracts, and cooperation agreements related to the project or partner, including project documentation, Terms of Reference (ToRs), and any subcontractor agreements (if applicable).
- Budgets, financing plans, and project/program activity plans.
- Accounting documents subject to audit, including financial reports, operational reports, and financial manuals/procedures.
- Any internal and external audit reports, as well as other assurance reports from the JRS BiH.
Scope of Work for the Special Audit:
- Review: Conduct a comprehensive review of 100% of the JRS BiH expenses for the audit period. Evaluate the organizational structure, staff responsibilities, and job roles within the organization and across the respective projects.
- Cost Verification: Verify that all expenses are appropriately supported by documentation. Assess whether the expenses comply with legal and by-law requirements. Confirm that salaries have been calculated in accordance with local legislation, supported by relevant documentation, such as salary sheets and tax filings. Verify the fair allocation of shared costs, goods, services, and works charged to the projects.
- Financial Reporting: Evaluate the adequacy of financial reporting policies, rules, and procedures, and assess whether these are consistently followed by the organization. Verify that financial reports are generated from the organizational financial software or ensure that reconciliation between project financial reports and the organization general ledger/trial balance is in place.
- Document Integrity: Ensure the integrity of all reviewed documents, checking for omissions, alterations, inconsistencies, or signs of tampering. Cross-check electronic versions (if available) with hard copies. Verify that budgets and reports comply with legal standards, ensuring there is no double reporting or document manipulation.
Audit Location:
The audit will be conducted partly at the JRS office, located at Adema Buće 40, Sarajevo, and partly at the auditor’s office.
Proposal Requirements:
Interested auditors are required to submit the following:
- A detailed methodology for conducting the audit.
- A proposed timeline for the assignment.
- The names and qualifications of the auditors responsible for the assignment, including at least one auditor with extensive experience in special audits and investigations.
- The total cost of the assignment, presented in hourly fees for each category of personnel, including any reimbursable costs. The audit fee should be quoted in BAM, excluding VAT, with VAT stated separately. The invoice should follow the same format as the proposed budget.
Time Frame
The assignment should commence no later than 20/02/2025.
The assignment should be completed between 20/02 – 28/02/2025.
Deadline for Submitting Proposals: [14.02.2024]
The full Terms of Reference (ToR) are available upon request. For further details, please contact Emina Dezmic at emina.dezmic@jrs.net