CALL FOR AUDIT SERVICES FOR THE FINANCIAL YEAR 2017

CALL FOR AUDIT SERVICES FOR THE FINANCIAL YEAR 2017

Background Information

The Youth Agenda (YAA) is an Not for Profit Independent National Youth Development and Advocacy organization founded in 1996 to facilitate a participatory process that enables young people to assert their role and visibility in governance and development in Kenya. Since its establishment, Youth Agenda has remained focused on its mandate of championing youth issues in Kenya through capacity building, research, public education and advocacy.

In line with this mandate, the youth agenda secured grant funding from a number of funding partners (including the European Union, UN Women, Ford Foundation and the National Democracy Institute) to finance strategic projects aimed at making the youth factor count in various policy and economic development spheres.

AUDIT OBJECTIVES

The objective of the YAA audit is to obtain reasonable assurance that the financial statements reflect a true and fair representation of the financial position of the organization in its obligations to donors.  The audit will be performed in accordance with International Standards on Auditing (“ISA”) and assess compliance with relevant regulatory requirements in order to provide an independent auditor’s opinion on the financial statements.

In addition to the audit report, the auditor will prepare a Management Letter on completion of the audit in which he/she will:

  1. Provide comments and observations on the accounting records, procedures, systems and controls that were examined during the audit.
  2. Identify specific deficiencies and areas of weakness in systems and controls and make recommendations for improvement.
  3. Report on the implementation status of recommendations pertaining to previous audit reports.
  4. Communicate matters that have come to his/her attention during the audit, which might have a significant impact on the sustainability of the organization.

Bring to the Directors’ attention any other matters that the auditor deems pertinent.

SCOPE OF AUDIT

YAA invites qualified audit firms to submit proposals to perform annual external audit services. The external audit services required will include, but not be limited to;

  1. Conducting an entry and exit meeting with the CEO, the Board’s Finance Committee and YAA Finance Officials.
  2. Determining whether resources were used in accordance with the provisions of existing grant agreements with due concern for thrift and efficiency, and only for the purposes for which they were intended;
  3. Investigating whether goods and services funded were procured in accordance with the relevant procurement procedures as established.
  4. Determining whether appropriate supporting documents, records and books of accounts relating to all activities have been kept.
  5. Investigating whether project assets were properly accounted for and secured.
  6. Conducting a comprehensive assessment of the adequacy and effectiveness of the accounting and overall internal control systems.
  7. The auditors will also review the rules governing the use of resources made available to the organization and monitor their implementation.

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