External Audit for Reduce Early Marriages to Enhance Gender Equality

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Need proposal bid for external audit is to assess the financial and operational aspects of the Reduce Early Marriages to Enhance Gender Equality the period from 01 December 2022 to 30 November 2023 in 41 districts of Punjab. The audit aims to provide an independent evaluation of the project’s financial transactions, compliance with relevant regulations, and the effectiveness of internal controls.

Tasks and Deliverables:

1. Preliminary Meeting:
   • Schedule and conduct a preliminary meeting with key stakeholders to understand the project’s objectives, scope, and any specific concerns.
2. Risk Assessment:
   • Perform a risk assessment to identify potential areas of concern or focus for the audit.
   • Evaluate the effectiveness of risk management processes in place.
3. Financial Audit:
   • Examine financial records, transactions, and statements for accuracy and compliance with accounting standards.
   • Verify the completeness and accuracy of financial data.
4. Compliance Audit:
   • Review the project’s compliance with applicable laws, regulations, and contractual agreements.
   • Identify any instances of non-compliance and provide recommendations for corrective action.
5. Operational Audit:
   • Assess the efficiency and effectiveness of operational processes and controls.
   • Identify opportunities for improvement in operational procedures.
6. Internal Control Evaluation:
   • Evaluate the adequacy and effectiveness of internal controls in place.
   • Provide recommendations for strengthening internal controls where necessary.

7. Reporting:
8. The annual financial statements of the Project shall be audited in accordance with International Standards of Auditing (ISA). The Auditor shall comply with ISA 800 (Special Considerations Audits of Financial Statements prepared in Accordance with Special Purpose Frameworks) / ISA 805 (Special Consideration audits of single financial statements and specific elements, accounts or items of a financial statement) and all ISAs relevant to the project audit.

The audit report shall include:

• The project name and agreement number;
• The project period subject of the audit;
• Reference to the financial reporting framework applied;
• The auditing standards applied;
• A statement that the auditor has obtained reasonable assurance about whether the financial statements as a whole are free from material misstatement;
• The Auditor’s opinion.

8. Follow-up:
   • Conduct a follow-up review to ensure that recommendations from the audit are implemented.
   • Provide guidance on corrective actions and improvements.

Timeline: The audit will commence on 10^th February 2024 and is expected to be completed by 26 February 2024. The reporting and follow-up activities will be completed within 5 days after the completion of fieldwork.

Communication: Regular status updates and interim findings will be communicated to the project stakeholders throughout the audit process.

Budget: The total budget for the external audit, inclusive of all expenses (field visits in Punjab), is Pkr 1,000,000

Point of Contact: For the duration of the audit Khawaja Ahmed Finance Manager Mobile No 03135640817 will serve as the primary point of contact for the audit team.

Approval: This Scope of Work must be reviewed and approved by both parties before the commencement of the audit.

Please send your proposal by 10 February 2024 to the address: Office No. 20, 2^nd Floor, Parkview Plaza, G-10 Markaz Islamabad. Phone Number 051-6120785 or email at admin@poda.org.pk