Audit Consultant at National AIDS, Sexually Transmitted Infections Control and Hepatitis Programme (NASCP)

Details

• Thus, here is a formal request for a project audit from the period of September 2022 to September 2023. NASCP intends to engage an independent and external auditor for the purpose of auditing the project in accordance with our agreement with US-US-CDC.

Responsibilities

• The objective of the external Audit is to express a professional audit opinion in accordance with ISA 800 and/or ISA 805 on whether the financial statements of the project in all material respects, are in conformity with the applicable Financial Rules and Regulations of US-CDC/NASCP and Terms and Conditions of the financing agreement.
• NASCP/NSHIP books of accounts provide the basis for the preparation of those financial statements and are established to reflect the financial transactions in respect of the NASCP/NSHIP and that it maintains adequate internal controls and supporting documentation for transactions.
• The objective of this Audit is also for the Auditor to verify that the expenditures claimed by NASCP/NSHIP in the financial statements for the project covered by the Agreement have occurred (‘reality’), are accurate (‘exact’) and eligible and to submit a Report of Factual Findings with regard to the agreed-upon procedures performed according to ISRS 400 and CDD Audit Instructions in Annex 2 of this ToR. Eligibility means that expenditures have been incurred in accordance with the terms and conditions of the Agreement. However, neither physical verification of the project nor the auditor's opinion of the results and effects of the project is included in the project financial audit.
• Responsibility for the preparation of financial statements
• The responsibility for the preparation of Financial Statements lies with the NASCP/NSHIP and is also responsible for:
• The selection and application of accounting policies. NASCP/NSHIP will prepare the Financial Statements in accordance with applicable accounting standards that comply with appropriate international standards in all material respects; and
• Implementing accounting, administrative and financial procedures documented in manuals.
• The auditors are responsible for the formulation of an opinion on the Financial Statements based on their audit conducted in accordance with ISAs (International Standards on Auditing) issued by the IFAC (International Federation of Accountants). In accordance with these standards, the auditors will request NASCP/NSHIP for an Engagement/Confirmation Letter committing NASCP/NSHIP to the preparation of the Financial Statements and maintenance of proper internal control systems as well as acceptable documentation for all financial transactions.
• A formal letter of engagement specifying the scope of audit shall be prepared and signed between NASCP/NSHIP and the auditor prior to the beginning of the assignment. The letter of engagement shall also clearly spell out the responsibilities of the two parties.

The financial records maintained for projects are usually the following:

• Financial ledgers
• Bank Reconciliation Statements

Financial reports:
The Financial project reports include:

• Annual and cumulative statements of sources and application of funds, which should disclose separately US-CDC funds, other donors funds and beneficiaries funds.
• Annual and cumulative project expenditure compared to budget per category
• Reconciliations from financial ledgers
• Full disclosure of cash balances. Only actual expenditure is eligible and any advances that have not been liquidated are not the be included in the expenditure.
• The auditors shall be given access to all legal documents, correspondence and any other information associated with the Financial Statements to be audited and deemed necessary by them. Confirmation of amounts disbursed and outstanding can be obtained by income records in Quickbook. These records are reported and checked by US-CDC and are considered correct.