Call For Statutory External Auditor
full-time
INTRODUCTION Plan International strives to advance children’s rights and equality for girls all over the world. As an independent development and humanitarian organization, we work alongside children, young people, our supporters and partners to tackle the root causes of the challenges facing girls and all vulnerable children. We support children’s rights from birth until they reach adulthood and enable children to prepare for and respond to crises and adversity. We drive changes in practice and policy at local, national, and global levels using our reach, experience, and knowledge. For over 80 years, we have been building powerful partnerships for children, and we are active in over 75 countries. Plan International Nigeria is part of the global federation of Plan International and was registered in Nigeria in 2014. Plan International has six thematic areaswhich define our work, influencing priorities and partnerships. These are Inclusive Quality Education (IQE), Skills and Opportunities for Youth Employment and Entrepreneurship (SOYEE), Children, Adolescents, and Youth as Active Drivers of Change (LEAD), Sexual and Reproductive Health and Rights (SRHR), Early Childhood Development (ECD) and Protection from Violence (PfV). 2. PURPOSE OF THE TAX CONSULTANCY The objective of the statutory audit is to enable the auditors to express an independent opinion on whether the financial statements present fairly, in all material respects, the financial position of the organization as at the reporting date and whether they have been prepared in accordance with the applicable financial reporting framework: The financial statements present fairly, in all material respects, the financial position of the organization. The financial statements have been prepared in accordance with applicable accounting standards and legal requirements. Proper books of accounts have been maintained. Internal controls provide reasonable assurance regarding the reliability of financial reporting. The organization has complied with relevant statutory and regulatory requirements. The audit should be conducted in accordance with International Standards on Auditing (ISA). 3. SCOPE OF WORK The successful audit firm shall perform, but not necessarily be limited to the following: 3.1 FINANCIAL STATEMENT AUDIT Conduct an independent statutory audit of the annual financial statements comprising: Statement of Financial Position Statement of Comprehensive Income Statement of Changes in Net Assets Statement of Cash Flows Notes to the Financial Statements. 3.2 COMPLIANCE REVIEW Review compliance with: Relevant Nigerian statutory and regulatory requirements Applicable financial reporting standards adopted by the organization Organizational accounting policies Board-approved financial policies Grant and donor financial provisions where applicable Tax obligations including PAYE, Withholding Tax, VAT (where applicable), Pension, National Housing Fund, Nigeria Social Insurance Trust Fund, and other statutory deductions where applicable. 3.3. INTERNAL CONTROL ASSESSMENT Evaluate the adequacy and effectiveness of: Financial management systems Internal controls Segregation of duties Procurement processes Payroll controls Cash management Bank reconciliation procedures Asset management Inventory controls Information technology controls affecting financial reporting 3. 4. RISK ASSESSMENT Assess key financial and operational risks including: Fraud risks Financial reporting risks Compliance risks Weaknesses in governance structures Misappropriation risks 3.5. VERIFICATION PROCEDURES Undertake appropriate audit procedures including: Examination of accounting records Review of supporting documentation Confirmation of bank balances Physical verification of selected assets Sample testing of expenditures Analytical review Confirmation of receivables and liabilities where applicable 3.6. MANAGEMENT LETTER Prepare a detailed Management Letter highlighting: Internal control weaknesses Compliance issues Accounting deficiencies Risk exposures Recommendations for improvement Status of implementation of previous audit recommendations 3.7. AUDIT STANDARDS The audit shall be conducted in accordance with: International Standards on Auditing (ISA) Applicable financial reporting standards used by the organization Relevant Nigerian laws and regulations 3.8. AUDIT PERIOD The audit shall cover the financial year ending 30th June, 2027 3.9. DELIVERABLE The auditors shall provide: Independent Auditor's Report Audited Financial Statements Management Letter Report on implementation status of prior year audit recommendations Final signed financial statements Presentation of audit findings to Management and the Board/Audit Committee Electronic and hard copies shall be submitted as follows: Soft copy (PDF and editable formats where applicable) Five signed hard copies 4.0. TIMELINE The audit shall be completed within [4] weeks from commencement. Indicative schedule: Entrance meeting Planning Fieldwork Draft report Management responses Final report Exit meeting Presentation to the Board. 4.1. QUALIFICATIONS OF THE AUDIT FIRM Mandatory Requirements: The audit firm must: Be duly registered in Nigeria. Hold a valid ICAN practicing license. Registration with the Financial Reporting Council (FRC) of Nigeria. Be registered with the appropriate professional regulatory authorities. Have at least five years' experience auditing INGOs, donor-funded projects, or not-for-profit organizations. Demonstrate experience in auditing donor-funded organizations. Have qualified audit staff. Possess adequate quality assurance systems. Be independent of the organization. Additional Mandatory Requirements All attached annexes must be duly filled and signed. Desirable Requirements: The audit firm should: Experience auditing international NGOs. Experience with USAID, FCDO, EU, GFFO, BMZ, Global Fund, UNICEF, World Bank or similar donor-funded projects. Presence of qualified audit partners and managers. 4.2. REPORTING LINE The audit firm shall report to: The Board of Trustees through the Finance and Audit Committee; and/or The Country Director and Director of Finance, Grants & Compliance for operational coordination. 4.3. CONFIDENTIALITY All documents, records, and information made available to the auditor shall remain the property of the organization and shall not be disclosed to any third party without prior written consent except where required by law. 5.0 About Plan International 5.1 Values of Plan International Nigeria You confirm you are familiar with and committed to the following values of Plan International Nigeria: We strive for lasting impact - We strive to achieve a significant and lasting impact on the lives of children and young people and to secure equality for girls. We challenge ourselves to be bold, courageous, focused, and innovative. We work well together - We succeed by working effectively with others, inside and outside the organization, including our sponsors and donors. We actively support our colleagues, helping them to achieve their goals. We come together to create and implement solutions in our teams, across Plan International, with children, girls, young people, communities, and our partners. We are inclusive and empowering - We respect all people, appreciate differences, and challenge inequality in our programs and our workplace. We support children, girls, and young people to increase their confidence and change their own lives. We empower our staff to give their best and develop their potential. We are open and accountable - We create a climate of trust inside and outside the organization by being open, honest, and transparent. We hold ourselves and others to account for the decisions we make and for our impact on others while doing what we say we will do. 5.2. Ethics and Child Protection Plan International Nigeria places a high premium on CHILD PROTECTION issues in all its working relationships with its partners and associates and mandates all its working partners and associates to adhere to its CHILD PROTECTION Policy. As such, the activity must ensure appropriate, safe, non-discriminatory participation; a process of free and un-coerced consent and withdrawal; and confidentiality and anonymity of participants. Consultants are required to provide a statement within their proposal on how they will ensure ethics and child protection in the development process. This must also include consideration of any risks related to the activity and how these will be mitigated. 5.3. Disclosure of Information/Child Protection It is understood and agreed that the Consultant(s) shall, during and after the effective period of the contract, treat as confidential and not divulge, unless authorized in writing by Plan, any information obtained in the course of the performance of the Contract. Informationwill be made available for the consultants on a need-to-know basis. Any necessary field visits must be budgeted for in your proposal. Plan staff under the coordination of the National Program Manager will support the consultant in facilitating all necessary engagements required by the Consultant. The selected consultant will commit to respecting Plan International's Child Protection Policy to prevent any harm to participating children and youth. 5.4. Anti-Corruption The Consultant and partners declare and guarantee that no offer, gift payment, consideration, or benefit of any kind, which constitutes an illegal or corrupt practice, has been or will be made to anyone by the Consultant either directly or indirectly, as an inducement or reward for the award or execution of this agreement. The Firm declares and guarantees that neither they nor Partners or associates, temporary nor permanent, would be involved in the implementation of this agreement: Have been convicted during three (3) years before the submission of their proposals for this project, by a court of law in Nigeria or any other jurisdiction for an offense involving bribery or corruption. Are under sanction, for an offense involving bribery or corruption, imposed by a government, a governmental organization, or a development organization providing development assistance. 5.5. Anti-Terrorism The Firm or Partners declare and guarantee that the funds provided by Plan International Nigeria for the service shall not be knowingly used to benefit terrorist groups as defined in the criminal code of Nigeria or individual members of those groups or for terrorist activities either directly or indirectly. 5.6. Whistle Blower Policy Plan International Nigeria has a Code of Conduct including a Whistle Blower Policy (attached) and encourages its entire staff and associates to whistle blow (raise legitimate concerns about violation of the Code of Conduct without fear of recrimination in the course of their engagement with Plan International Nigeria). Further information, including all mandatory reference annexes to be completed and submitted as part of the application, can be accessed through the link below: https://tinyurl.com/3vye8k8s