The Global Green Growth Institute is a new kind of international organization. GGGI was founded on the belief that economic growth and environmental sustainability are not merely compatible objectives; their integration is essential for the future of humankind. We work with partners in the public and private sector in developing and emerging countries around the world to put green growth at the heart of economic planning
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REQUEST FOR QUOTATION – External audit
Project Title: Inclusive Green Economy Capacity Building Programme
The Global Green Growth Institute (GGGI) hereby requests the qualified firms to submit their quotations to audit the Inclusive Green Economy Capacity Building Project.
You must submit your quotation including the necessary documents mentioned in paragraph 3 electronically via rwandainfo@gggi.org Otherwise, you will not be considered further.
3. The documents to be submitted is as below:
a) Business Registration Certificate
b) Client’s certificate of completion as evidence of experience in the subject area at least one contract of the nature and complexity equivalent to the scope included in this Request for Quotation over the last 3 years
c) Priced Activity Schedule
d) Any other evidence of your qualification
Your quotation should be written in ENGLISH.
The currency of quoted prices and payment shall be United States Dollars. The quotation shall include all duties, local taxes and other levies payable by the contractor.
GGGI will evaluate and compare only the quotations determined to be substantially responsive. A quotation is not substantially responsive if it contains material deviations or reservations to the terms, conditions, and specifications in this Request for Quotation, and it will not be considered further.
GGGI will award the contract to the Contractor whose quotation has been determined to be substantially (technically) responsive to this Request for Quotation and who has offered the lowest evaluated price quotation.
Under GGGI’s Anticorruption Policy and Procurement Rules, bidders shall observe the highest standard of ethics during the procurement and execution of such contracts. GGGI will reject a proposal for award, and will impose sanctions on parties involved if it determines that the bidder recommended for an award of any other party, has engaged in corrupt, fraudulent, collusive, or coercive practices in competing for, or in executing, the Contract. At the time of submission of your quotation or contract signature, you must not be in UN’s sanctions list (https://www.un.org/sc/suborg/en/sanctions/un-sc-consolidated-list) or have been debarred for a period exceeding one year or for an indefinite period by any Multilateral Development Bank (MDB), including the African Development Bank Group, the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank or the World Bank Group.
Annex A. Terms of Reference
Background
1) GGGI’s Mission and Approach
The Global Green Growth Institute (GGGI) was established as an intergovernmental organization with the objective of promoting sustainable development of developing and emerging countries including the least developed countries. GGGI is dedicated to supporting the creation and diffusion of the model of economic growth known as “green growth”. The green growth model integrates economic growth, environmental sustainability, poverty reduction, and social inclusion.
Accounting and financial management practices of GGGI are governed by the Financial Regulations and Financial Policies and Procedures. The accounts and financial management of all funds governed by these Financial Regulations shall be subject to an annual audit, and the arrangements for such audit shall consider the international nature of the GGGI and ensure an open and competitive process for the selection of the External Auditor. Financial Statements of GGGI are prepared in accordance with the International Financial Reporting Standards (IFRS).
Proposed Activities and Scope of Work
1) Proposed Activities for the Overall Project
These terms of reference address the requirement from the donor for conducting an external audit for the “Inclusive Green Economy Capacity Building Programme” (hereinafter referred to as IGE project), a small project of USD 88,881 funded by the Swedish Institute (SI) through partnership with the University of Gothenburg for the period July 1st, 2019 – December 31st, 2019.
2) Scope of Work
The External Auditor(s) shall perform such audit of the accounts of GGGI Rwanda in relation to the IGE project, as deemed necessary in order to satisfy himself/herself/themselves.
Following auditor(s) shall perform the following tasks
The audits should be carried out in accordance with either national, ISA or INTOSAI auditing standards and will include testes, verification procedures as the auditors deem necessary.
Verify that financial transactions reflected in the IGE project financial report submitted to the donor have been in accordance with the rules and regulations, the budgetary provisions, and other applicable directives;
Verify that the funds have been used in accordance with the established rules and regulations of the GGGI, the financing agreement between GGGI & the donor, and only for the purpose for which the funds were provided;
Goods, works and services financed have been procured in accordance with the GGGI established rules and procedures;
Appropriate supporting documents, records and books of accounts relating to all IGE project activities have been kept. Clear linkages should exist between the books of the account and the report presented to the donor;
The financial report has been prepared by GGGI management in accordance with applicable accounting standards and give a true and fair view of the financial situation of the IGE project as at December 31st, 2019 and of its receipts and expenditures for the period ended on that date;
Comprehensive assessment of the adequacy and effectiveness of the accounting and overall internal control system to monitor expenditures and other financial statements in all material respects;
Express opinion as to the reasonableness of the IGE project financial report in all material respects;
Include in their reports opinion on compliance with procedures designed to provide reasonable assurance of detecting misstatements due to errors or fraud that are material in the IGE project financial statements;
Conduct entry and exit meeting with the Rwanda Country Representative and IGE Project Manager;
In addition to the audit report, the auditor(s) will prepare a Management Letter on the following:
Give comments and observations on the accounting record, procedures, systems and controls that were examined during audit.
Identify specific deficiencies and areas of weakness in systems and controls and make recommendations for improvement.
Communicate matters that have come to their attention during the audit which might have a significant impact on the sustainability of the organization.
Bring to the attention the Rwanda Country Representative any other matters that the auditors consider pertinent.
Securities and money on deposit and on hand have been verified by the certificates received directly from the Organization’s depositories or by actual count;
Enough audit evidence should be gathered to substantiate in all material respects the accuracy of the financial Report. The audit report should state if the audit was not in conformity with any of the above and indicate the alternative standards or procedures followed. The External Auditor(s) shall be the sole judge as to the acceptance in whole or in part of certifications and representations by the Secretariat and may proceed to such detailed examination and verification as he/she/they choose(s) of all financial records including those relating to supplies and equipment.
Deliverables and Payment Schedule
The expected outputs of the auditor are as follows:
GGGI Rwanda IGE Project Audit
A draft audit report should be submitted by 25th January 2020 and a final signed audit report with certified statements by 30th January 2020.
A management letter should be submitted by 31 January 2020
GGGI Rwanda will make available the financial report to be audited not later that 16th January 2020.
Audit fees and Payment Schedule
The Audit fees will be on acceptance of the audit report.
GGGI shall pay the Service Provider a total maximum amount for the services satisfactorily performed in accordance with the contract.
Suggested Methodology
Audit Report
The audit report should clearly indicate the auditor’s opinion. This would include at least the following:
? The title, addressees, and an opening or introductory paragraph containing:
a) Identification of the financial information audited including the period covered; and
b) Statement of the responsibility of the entity’s management and the responsibility of the auditor.
? A scope and methodology paragraph describing the nature of the audit referencing:
a) The accounting standards that have been applied and indicate the effect of any deviations from those standards;
b) The audit standards that were applied (INTOSAI standards, ISAs, or national standards that comply with one of these in all material respects); and
c) The work the auditor performed.
? An opinion paragraph disclosing:
a) Whether the financial report and supporting schedules fairly present the cash receipts and expenditure in all material respects and that the funds were used for the purposes defined by the work programme;
b) Whether the financial transactions reflected in the Financial report are in accordance with financial regulations and procedures, budgetary provisions and other applicable directives; and
c) Summary assessment of the efficiency of the management and internal control system, including an attestation of internal control over financial reporting.
The auditor may expand the report to include other information and explanations not intended as a reservation. Audit reports shall be provided in English.
Qualification of the Audit Firm
1)The audit firm experience:
The auditor firm must be registered with an appropriate body for audits.
The auditor firm with a minimum of 7 years of experience in audit and preferably similar organizations i.e. International Organizations.
The auditor firm has completed at least 5 audit reports similar in nature and complexity in the last 3 years
2) The audit Team
The Auditor (firm) will employ adequate staff with appropriate professional qualifications and suitable experience with IFAC standards or equivalent, International Standards on Auditing and with experience in auditing the accounts of entities comparable in size and complexity to the Entity.
In addition, the audit team will have:
Appropriate experience with audits of external aid operations financed by the donors.
At least one senior member of the fieldwork team either a manager/supervisor should have such experience;
Demonstrate enough knowledge of relevant laws, regulations, and rules in the country concerned. This includes but is not limited to taxation, social security and labor regulations, accounting and reporting, and Fluency in English
Annex B. Priced Activity Schedule (Financial Component)
Item No.
Description
Unit
Quantity
Unit Price
Amount (incl. Tax)
A.
USD
USD
1
1.1
1.2
B.
1
1.1
1.2
C.
1
1.1
1.2
2
2.1
2.2
Total
USD
Amount should include all taxes.
Payment Currency: US Dollar
Payment Term: 30 days after the receipt of a signed invoice and acceptance.
Payment Method: Wire Bank Transfer
Invoice to: ap-rwanda@gggi.org
Please submit your quotation via rwandainfo@gggi.org not later than 22nd December at 5 pm
