Expression of Interest (EOI) for Statutory Audit FY 2024/25

Expression of Interest (EOI) for Statutory Audit FY 2024/25 

dZi Foundation:

dZi Foundation is a US-based non-profit organization that partners with rural communities in Nepal to achieve lasting prosperity by addressing barriers to basic needs, creating sustainable livelihood opportunities, and strengthening local capacity for transformational change. Guided by our strategic plan, we continuously adapt to evolving development and policy environments, with a sharpened focus on partnerships, local ownership, and long-term sustainability beyond external investments.

1)     Call for Consultancy:

dZi Foundation invites proposals from qualified Chartered Accountancy (CA) firms to conduct the Statutory Audit (SA) of its Nepal Country Office (NCO) for the fiscal period July 16, 2024 – July 16, 2025. The audit will cover the period of one year and must be completed in line with applicable auditing standards and procedures.

2)     Specific objectives:

The primary objective of this consultancy is to provide assurance on the quality, transparency, and compliance of financial management and reporting at the NCO. Specifically, the audit shall assess:

i.     Audit Scope – including but not limited to:

• Financial accounting, monitoring, and reporting systems;
• Processes for recording, documenting, and reporting resource utilization;
• Equipment management, procurement, and use;
• The effectiveness of internal controls, management structures, and record-keeping mechanisms.

ii.    Audit Certification – the auditor shall review, confirm, and certify that:

• Disbursements are made in line with approved budgets and activities;
• Expenditures are supported with adequate documentation;
• Financial reports are accurate and fairly presented;
• Management structures and internal control systems are adequate;
• Procurement, utilization, and disposal of non-expendable equipment comply with relevant guidelines.

3)     Activities:

The firm will be expected to undertake, but not limited to, the following:

• Engage with relevant units and stakeholders to collect necessary information;
• Review and analyze existing documentation and financial data;
• Assess the effectiveness of current procedures and systems against the Finance Manual;
• Conduct test checks on accounts and supporting documents to ensure compliance and accuracy;
• Prepare the statutory audit report, including actionable recommendations.

The audit shall adhere to:

• Nepal Standards on Auditing (NSA), as issued by the Institute of Chartered Accountants of Nepal (ICAN);
• International Standards on Auditing (ISA), where local standards do not provide adequate guidance.

4)     Deliverables:

1. Inception Report – outlining methodology, audit approach, and work plan;
2. Draft Report – including preliminary findings and management comments;
3. Final Report – incorporating management feedback, with clear recommendations.

5)     Duration of the Consultancy:

The consultancy is expected to be completed within approximately 30 working days between September 10 – October 20, 2025. Firms with a proven ability to deliver high-quality outputs under strict timelines will be given preference.

6)     Minimum Qualification of the Firm:

• Licensed Chartered Accountancy (CA) firm registered in Nepal with at least 10 years of professional auditing experience in the non-profit sector;
• Strong knowledge of relevant Government of Nepal policies, procedures, and compliance requirements for INGOs;
• Demonstrated experience with Social Welfare Council (SWC) rules, including General Agreement (GA) and Project Agreement (PA) procedures;
• Expertise in GON’s Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) frameworks;
• Minimum of 3 successfully completed similar assignments in the past;
• Proven analytical, communication, and report-writing skills;
• Ability and willingness to travel to project districts and engage with diverse stakeholders;
• Adequate professional capacity to ensure timely and efficient delivery of results.

7)     Evaluation Factors:

Proposals will be evaluated using the following weighted scoring:

1. Technical Approach (40%) – Proposed methodology, understanding of assignment requirements;
2. Team Experience (20%) – Qualifications and expertise of the proposed audit team;
3. Firm’s Experience (10%) – Organizational track record in conducting similar assignments;
4. Financial Proposal (30%) – Cost-effectiveness, relevance, and alignment of budget with deliverables.

8)     Submission of EOI

Interested and qualified Nepali firms are requested to submit their EOI with the following documents:

1. Cover letter;
2. Brief technical and financial proposal (maximum 5 pages);
3. Updated CVs of the proposed team leader and members, with valid PAN/VAT certificates;
4. Evidence of at least 3 similar completed assignments;
5. Company profile, including tax clearance and registration certificates.

All submissions must be sent electronically to procurement.np@dzi.org with the subject line: EOI for Statutory Audit. 

Deadline: On or before September 7, 2025. Submissions should not exceed 10 MB.

Telephone inquiries will not be entertained. Canvassing in any form will lead to automatic disqualification. Only shortlisted firms will be contacted. dZi Foundation reserves the right to accept or reject any or all proposals without providing reasons.