ToR - Independent Financial Audit
Jobs at:Economic Policy Research Network
Deadline of this Job:
13 April 2021
Within Rwanda , Kigali , East Africa
Date Posted: Monday, March 29, 2021 , Base Salary: Not Disclosed
The Economic Policy Research Network (EPRN Rwanda) is a membership-based research and training institution with the mission to strengthen national capacities for evidence based economic policy development through research, training, and provision of networking opportunities for interested professionals and institutions. EPRN Rwanda needs to hire an external audit firm to carry out a comprehensive audit covering the period from 1st January to 31st December 2020.
1.2. Audit Objective
The audit will be performed so as to obtain a reasonable assurance that the accounts are free from material misstatement and all the performed operations are accurate and in compliance with procedures and regulations. The audit will include examination, on a test basis, of evidence relevant to the amounts and disclosure in the accounts. It should include an assessment of significant estimates and judgments made in the preparation of the accounts and whether the accounting policies are appropriate in the organization’s circumstances, consistently applied, and adequately disclosed. The audit will be conducted in accordance with International Standards on Auditing (ISA). .
2. SCOPE OF ASSIGNMENT
• Give an independent opinion on the EPRN Financial Statements
• Audit will advise on compliance with new Rwanda income tax law
• Identifying and reporting potential financial and procedural weaknesses.
• Provide support to the adjustment of the current financial systems
• Reviewing of the current administration and procedures manual and advise on potential adjustments
• The audit shall provide a management letter that communicates points that have come to attention during the audit:
• On the design and operation of the accounting and internal control systems as whole and to make suggestions for their improvement;
• On potential encountered weaknesses in accounting and internal control systems and any potential threats and risks to EPRN;
• On other constructive advice such as comments on potential economies or improvements in efficiency;
• On other matters such as comments on adjusted and unadjusted errors in the financial statements or on particular accounting policies and practices.
Audited financial report (hard and soft copies) for the period noted
A management letter, which should highlight observed weaknesses in the system of financial management and the recommendations for managing and handling the identified issues over the next financial period
Adjusted accounting systems to meeting the new financial year requirements
Reviewed and revised the Administration and financial procedures manual to reflect the current situation of the organization.
The work is expected to be performed between April and May 2021 and should not exceed 20 working days.
Job Skills : Not Specified
Job Qualifications : Not Specified
Work Hours: 8
Experience in Months: 36
Level of Education: Bachelor Degree
Job application procedure
The completed technical proposal and financial proposal in hard copies, in separate and sealed envelopes clearly marked should be submitted to: EPRN office located at University of Rwanda, Gikondo Campus by not later than 22nd April 2021, 5 pm local time. Applications may also be sent through P O Box: 7375 Kigali , Rwanda; or through email: [email protected] by not later than 22nd April 2021, 5 pm local time.