Call for Proposal: External Audit Services Full Time NEW

1. Background

Formal Education Network for Private Schools (FENPS), established in 2003, is a Somali non-governmental organization dedicated to improving the well-being and protection of vulnerable and marginalized groups. These include young girls, children from minority communities, internally displaced persons (IDPs), refugees, returnees, persons with disabilities, and children from impoverished or underserved backgrounds who often lack access to essential services.

Since its inception, FENPS has worked to address the systemic barriers that limit access to quality education, safety, and opportunities for growth for children and youth. The organization promotes inclusive and equitable education, child protection, gender equality, peace-building, and human rights awareness. Through its programs, FENPS provides education, healthcare support, protection services, and livelihood opportunities designed to uplift vulnerable children and youth, enabling them to thrive in safe, supportive, and nurturing environments.

Formal Education Network for Private Schools (FENPS) invites qualified, reputable, and duly registered audit firms to submit proposals to conduct an external audit for the fiscal year 1 April 2024 to 30 March 2025.

The purpose of this audit assignment is to review and verify FENPS financial statements, assess the effectiveness of internal controls, and ensure full compliance with donor requirements and applicable national regulatory standards.

2. Objectives of the Audit

The external audit aims to assess compliance with donor requirements and FENPS’ internal policies; evaluate the adequacy and effectiveness of internal control systems; confirm that funds and resources were used for their intended purposes; and provide an independent auditor’s opinion on FENPS financial statements.

3. Scope of Work

The selected external auditor will be required to:

• Review FENPS financial statements for the period 1 April 2024 to 30 March 2025.

• Examine supporting documents such as bank statements, ledgers, vouchers, contracts, and accounting system records.

• Review compliance with donor agreements (e.g., UNICEF and other partners).

• Assess procurement procedures, asset management, internal controls, and financial management systems.

• Prepare and submit a comprehensive management letter detailing findings, observations, and recommendations.

• Present the final audit report to FENPS management and the Board of Directors.

4. Expected Deliverables

• Audited financial statements accompanied by an independent auditor’s opinion.

• A management letter outlining findings and recommendations.

• A compliance review report (if required).

• An exit meeting and presentation of audit findings to management.

5. Duration of the Assignment

The audit work must be completed within 30 days from the date of contract signing.

6. Eligibility Criteria

Interested firms must:

• Be legally registered and licensed to practice in Somalia.

• Demonstrate proven experience in auditing NGOs or donor-funded projects.

• Provide profiles and qualifications of key audit personnel.

• Demonstrate familiarity with International Standards on Auditing (ISA).

• Submit at least two (2) reference letters from previous clients.

7. Proposal Submission Requirements

Proposals must include:

• Technical Proposal (methodology, audit approach, work plan, staffing).

• Financial Proposal (detailed audit fees in USD).

• Firm registration and legal documents.

• CVs of key audit personnel.

• At least two (2) sample audit reports completed within the past three years.

8. Evaluation Criteria

1. Relevant experience – 30%

2. Technical approach and methodology – 25%

3. Qualifications and expertise of audit personnel – 20%

4. Cost competitiveness – 15%

5. References and past performance – 10%

Tagged as: Formal Education Network for Private Schools, Somalia