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Invitation to Tender
Services Provided by External Auditors
1. Introduction and Historical Context
[MH Malawi] is a non-governmental organisation that is dedicated to [describe mission, e.g., humanitarian assistance, health, education, community development]. We are committed to the empowerment of communities and the promotion of sustainable development, and we operate in southern region of Malawi.
In order to guarantee accountability, integrity, and transparency in our operations, we are in search of a qualified external audit firm to conduct an independent audit for the fiscal year ending [2024]. The audit will include an evaluation of our internal controls, governance practices, compliance frameworks, and Annual & financial statements.
This Invitation to Tender (ITT) is intended for the most reputable audit firms with extensive experience in the non-governmental organisation (NGO) sector. We are open to proposals that exhibit a dedication to maintaining the highest professional standards and a comprehension of our operations.
2. Objective of the External Audit
The objective of this audit is to guarantee that Muslim Hands Malawi operates under robust internal control and governance practices, maintains accurate financial records, and complies with legal and regulatory requirements, in order to reassure the Board of Directors, stakeholders, donors, and regulatory authorities.
3. Audit Scope
Key areas encompass, but are not restricted to:
- Annual & financial statements
- Financial Reporting and Compliance with Accounting Standards
- Governance and Board Oversight
- Frameworks for Risk Management Mechanisms of Internal Control
- Operational Procedures and Policies Compliance
- Strategy Performance Metrics and Alignment
The appointed auditor is anticipated to conduct a comprehensive evaluation of each area and generate an audit report, as well as a detailed management letter for the Board that presents the findings and recommendations.
4. Tender Submission Requirements
Audit firms must submit a comprehensive proposal that includes the following in order to be considered:
A. Technical Proposal Firm Profile and Experience
- An overview of the organisation, including its background, experience in the non-governmental organisation (NGO) sector, and pertinent qualifications.
- Emphasise prior experience with audits of NGOs or organisations with comparable structures and obstacles.
Methodology and Approach
- Specify the audit methodology, including the methods and instruments that will be implemented.
- Please provide a detailed explanation of the firm’s approach to each of the areas outlined in the appended TORs.
- Indicate the methods by which the organisation guarantees confidentiality, independence, and adherence to international auditing standards.
Composition of the Team
The qualifications, relevant experience, and roles of the proposed audit team are detailed below.
- Indicate whether any team members possess specialised experience in the nonprofit or NGOs.
Risk Management and Quality Assurance
- Detailed explanation of the quality control measures implemented to guarantee the integrity and precision of audit findings.
- Outline the methods of risk management that are employed to identify and mitigate potential obstacles that may arise during the audit.
B. Financial Proposal Cost Structure
- A comprehensive analysis of the audit fee, which delineates the costs for each phase or area of the audit.
- Supplementary expenses for travel, lodging, or incidentals (if applicable).
Terms of Payment
Preferred payment schedule, which is associated with the audit process’s milestones. Cheque payment will be preferably made after submission of the management letter together with the audit report.
C. Credentials and References
References
- Please provide a minimum of three references from previous NGO or nonprofit audit clients, along with their contact information.
Certifications and Credentials
- Incorporate any pertinent professional affiliations, certifications, or accreditations.
5. Criteria for Evaluation
The following criteria will be used to evaluate the proposals that have been submitted:
- Proposed Approach and Methodology – 30%
- Technical Expertise and Experience – 40%
- Cost and Value for Money – 20%
- References and Reputation – 10%
The firms that achieve the highest score will be selected for further consideration and may be invited to participate in a presentation or interview to further discuss their proposals.
6. Timeline
ITT Issued: [11/12/2024]
Proposal Submission Deadline Submissions: [15/01/2025]
Proposal Evaluation and Selection: [22/01/2025]
Interviews (if applicable): [to be communicated]
Notification of the Final Selection and Award: [24/01/2025]
The anticipated commencement date of the audit is [31/01/2025].
7. Guidelines for Submissions
Proposals must be submitted in both electronic and physical copy formats to:
Contact Person: [Hella Hamisi Pelasoni]
Title: [Country Director]
Email: [hella.hamisi@mw.mhworldwide.org]
Physical Address: [Muslim Hands, /Bag 542, Limbe, Chiradzulu Boma Road, At Yasini Roadblock]
Deadline: All proposals must be received by [15/01/2025] at [16:30, Local Time.]
8. Additional Information
Confidentiality: The information submitted in response to this ITT will be dealt with the utmost confidentiality and will be utilised exclusively for the purpose of evaluation.
Disclaimer: [MH Malawi] retains the right to approve or reject any proposal at its discretion and to provide additional instructions if required.
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