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Recruitment of annual audit
TERMS OF REFERENCE FOR ANNUAL AUDIT
Of the project: “Building an Energy Alliance & Network for Sustainable Energy Development in Vietnam and the Mekong Region”
GreenID is a non-profit organization established under the Vietnam Union of Science and Technology Associations (VUSTA) and recognized by Decision 840/QD-LHH dated 27th December 2011. GreenID promotes an inclusive approach to sustainable development in Vietnam and the larger Mekong region, with a particular focus on the role of the energy sector and its environmental impact. The organizations resource base includes environmental and energy experts, researchers, and activists. All share a common commitment to promote green, low carbon, environmentally-friendly development and natural resource protection. GreenID firmly believes that viable and sustainable solutions to the current challenges can only be achieved if local communities are involved in the whole process from planning to execution.
Green Innovation and Development Centre (GreenID) has cooperated with three partners including Centre for Sustainable Water Resources and Adaptation to Climate Change (CEWAREC), Swedish Society for Nature Conservation (SSNC) and Sustainable Energy (SE) to form the Energy Alliance and implement the project: “Building an Energy Alliance & Network for Sustainable Energy Development in Vietnam and the Mekong Region ” funded by the Swedish International Deveopment Agency (Sida) from May 2012 to September 2013. The project comprise three main components: building alliance, facilitating the local energy planning application and policy engagement and advocacy. The goal of this project is to contribute for the sustainable energy development in Vietnam and the MeCong region through promoting sustainable energy policy, planning process focusing on demand side management, energy efficiency use, energy conservation and renewable energy and increasing the active participation of local people in the decision-making process and decentralised renewable energy solutions.
On behalf of the Energy Alliance, GreenID wishes to engage the services of an audit firm for the purpose of auditing the “Building an Energy Alliance & Network for Sustainable Energy Development in Vietnam and the Mekong Region ”, as stipulated in the agreement between GreenID and Sida. The audit shall be carried out in accordance with international audit standards issued by IAASB.The audit shall be carried out by an external, independent and qualified auditor (Approved Public Accountant/Authorized Public Accountant or equivalent).
II. Objectives and scope of the audit
The objective is to audit the Financial report for the period 2012 May 3rd to 2013 September 30th as submitted to Sida and to express an audit opinion according to ISA 800/805 on whether the financial report of the project “Building an Energy Alliance & Network for Sustainable Energy Development in Vietnam and the Mekong Region ” is in accordance with GreenID ‘s accounting records and Sida´s instruction for financial reporting as stipulated in the agreement between Sida and GreenID; annex 4 to the agreement between GreenID and Sida.
Examine, assess and report on compliance with the terms and conditions of the agreement and applicable laws and regulations regarding accounting and taxes in Vietnam.
III. Additional assignment; according to agreed upon procedures 4400 in the individual Terms of reference to be approved by Sida
- Overall review of the organisations’ internal management and control ;
- Reviews of how well the organisations achieve its goals, the relationship between resources and performance
- Follow up whether salary costs debited to the project are recorded throughout the duration of the year in a systemized way and examine whether the salary costs can be verified by sufficient supporting documentation.
- Based on materiality and risk the auditor shall examine whether there is supporting documentation related to incurred costs
- All project partners’ compliance with rules and regulations in regard to taxes (e.g.PAYE)and social security fees.
- Follow up whether the cooperation partner has adhered to the procurement guidelines annexed to the agreement
Follow up of funds that are channelled to implementing partners
- Does GreenID have signed agreements with partner organisations?
Review whether there is an unbroken chain of audited financial reports according to the requirements as stipulated in the agreement between GreenID and Sida for funds for the previous year. The review shall include whether GreenID makes documented assessments of the audited financial reports submitted to GreenID and whether these reports are followed-up by Sustainable Energy (SE) and the Swedish Society for Nature Conversation (SSNC).The review shall include verification of contributions equivalent of a minimum of 70 % of the total of disbursed funds as well as 70 % of the number of contributions. The review shall also include any observations from auditors that Sida should be informed about.
The scope of the audit shall be stated in the report and the methodology used shall be presented.
The reporting shall be signed by the responsible auditor (not just the audit firm) and title.
The reporting from the auditor shall include an audit report report/management letter with audit findings and weaknesses identified during the audit process. The auditor shall regardless of materiality quantify the amount for costs missing sufficient supporting documentation. The auditor shall make recommendations to address any weaknesses identified. The recommendations should be presented in priority.
Measures taken by GreenID and its cooperation partners to address weaknesses identified in the previous auditsshall also be presented in the audit report/management letter.
The additional assignment according to agreed upon procedures under paragraph III shall be reported in a separate part in accordance with the terms of reference.
V. Time and budget
- Proposed time: From 1st January to 30th January 2014.
- The cost for auditing should be based on the experience, ability of auditor and agreement in accordance to the project budget, donor’s regulations.
Any audit firm interested in this TOR please kindly send your audit proposal and profile to the following address::
Mrs. Nguy Thi Khanh – GreenID Executive Director
Green Innovation and Development Centre (GreenID)
Address: Suite 1504, 15th floor, Tower B, Building 173 Xuan Thuy, Cau Giay, Hanoi
Tel: +84 4 626 973 18 Fax: +84 4 379 563 72
Email: firstname.lastname@example.org or email@example.com
- Deadline for proposal receiving: by 17.00PM, 30th September, 2013
 The International Auditing and Assurances Standards Board (IAASB)
If the budget includes salary costs to be debited to the project, the auditor shall always examine salary costs as stipulated here.
 Pay As You Earn
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TERMS OF REFERENCE FOR ANNUAL AUDIT Of the project: “Building an Energy Alliance & Network for Sustainable Energy Development in Vietnam and the Mekong Region” I. Introduction GreenID is a non-profit organization established ...