Call for Expression of Interest (EOI) For Statutory Audit Services

Call for Expression of Interest (EOI)

For

Statutory Audit Services

The Association for International Solidarity in Asia (Asia Onlus) is an international non-governmental organization (INGO) that is dedicated to working with vulnerable children, and underprivileged communities, and to addressing food security, education, climate change resilient agriculture, WASH, and environment protection to overcome poverty. Currently, Asia Onlus Nepal would like to engage a reputable audit firm with relevant experience in these areas to provide a statutory audit for the fiscal year 2022/2023. The contract will be renewable for a period of 3 years. 

The objective of the Asia Onlus Nepal audit is to obtain reasonable assurance that the financial statements reflect a true and fair view of the financial position of the organization. The audit will be performed in accordance with International financial reporting standards (“IFRS”) and international standards of auditing (“ISA”). The audit report will include an independent auditor report (opinion) on the financial statements. The findings and recommendations shall include an action plan for Asia Onlus Nepal's organizational and accounting improvements depending on findings and their implications and shall accommodate management comments.

The key deliverables will be:

1. Audited Financial Statements indicating if accounting standards have been applied and whether they reflect a true and fair view of the financial position of the organization.
2. Management Letter where matters that are not material to the financial statements, but which the auditors wish to communicate to Asia Onlus Nepal may be reflected for management action.

If your audit firm has the required experience, please submit an Expression of Interest (EOI) in accordance with the eligibility criteria provided. 

Eligibility criteria:

• Compliance with legal requirements of registration: The firm must provide a copy of business registration, renewal, and tax clearance up to the last fiscal year as well as a registration copy of the Institute of Chartered Accountants of Nepal (ICAN) as a Chartered Accountants firm.
• Experience of the audit form with IFRS and ISA: The firm must be in operation for a period of at least 3 years. The firm must demonstrate that it has the capacity, capability, expertise, and experience required to undertake the external audit services within the required timelines. 
• Experience with INGO: The firm must demonstrate adequate experience in auditing International Non-governmental/ Humanitarian Organizations.
• Audit methodology: The firm should provide audit methodology and Curriculum Vitae for its partner/s, manager/s, and key staff for the audit.
• References for similar audits: The firm should provide references (minimum two) for similar audits performed within the last 2 years with international organizations. 
• Any actual or potential conflict of interest in taking up this role should be highlighted.

The above-mentioned documents must be submitted via email. The subject of the email must be “EOI for External Audit Services”. The email must be sent to a dedicated email address, that is: n.ghimire@asia-ngo.org. The document submission deadline is 29 September 2023 by 4:00 PM (Nepal Time). Request for Proposal (RFP) for technical and financial proposals will be called only from the shortlisted firms. The procurement process shall be governed by ASIA's procurement policy. Asia Onlus Nepal may at any time in its sole discretion cancel, terminate, withdraw, or suspend the bidding process in whole or in part without assigning any reasons whatsoever. Any inquiry/clarification about this EOI can be sent to n.ghimire@asia-ngo.org.