External audit of the project's financials for "Increasing the Resilience to Risks of Ethnic Minorities in Dien Bien Province" (IREM Project)World Vision International - Vietnam

Background

World Vision International in Vietnam, with funding from Aktion Deutschland Hilft (ADH), is implementing the project "Increasing the Resilience to Risks of Ethnic Minorities in Dien Bien" The project aims to enhance the disaster resilience of ethnic minority communities in Dien Bien Province through capacity building, climate change adaptation (CCA), and disaster risk reduction (DRR) interventions at the community and school levels.

This Terms of Reference (TOR) is intended to define the scope, objectives, methodology, and reporting requirements for the external audit of the project's financials. The audit will assess the financial accountability of the project and ensure that funds provided by ADH have been appropriately utilized according to the contractual obligations.

Purpose of Position

Key Responsibilities

II. SCOPE OF AUDIT

The audit will cover all financial and accounting records relating to the IREM Project during the period 1st October 2023 to 30th November 2024. The audit will verify and control the financial reports submitted to ADH by WVI-V. Specific focus areas include:

The auditors will be given full access to relevant documentation, which are relevant to this audit. All information reviewed is to be treated in confidence.

III. AUDIT OBJECTIVES

The primary objective of the audit is to verify the financial integrity of the IREM Project by ensuring that:

Additionally, the audit will assess compliance with WVI and ADH financial policies, ensuring that resources are used efficiently and in accordance with donor requirements.

IV. AUDIT METHODOLOGY

The audit will be conducted following international auditing standards, focusing on the inspection of original supporting documentation and compliance with applicable accounting practices. The audit techniques may include, but are not limited to:

The auditors are expected to use their professional judgment to determine the sample size and scope necessary to form an opinion on the financial health of the project.

V. REPORTING REQUIREMENTS

The auditors will provide a draft report of their findings no later than one month after the fieldwork is completed. This report will include:

After reviewing the draft report with WVI-V and WVG, the auditors will finalize the report. The final audit report must include:

The final report, in English, must be submitted to WVI-V no later than 14th March 2025. A management letter will also be provided, addressing issues such as fraud, lack of collaboration, or other significant concerns.

VI. AUDIT DELIVERABLES

Audit reports must to be issued in Euro using the weighted average exchange rate of the direct transfers done during the project.

All reports must be written in English and adhere to the formats provided in Annex II and III.

VII. KEY QUALIFICATIONS OF THE AUDIT FIRM

To be eligible for this assignment, the audit firm must meet the following criteria:

VIII. BUDGET

The total budget for the audit service is 5,050 USD (4,717.66 EURO). This amount will cover all related expenses, including fieldwork, reporting, and any other relevant activities.

IX. TIMELINE

Fieldwork commencement: 15th January 2025

Draft audit report submission: 15th February 2025

Feedback from WVI-V and WVG: 07th March 2025

Final audit report submission to WVI-V: No later than 14th March 2025

X. SUBMISSION OF PROPOSALS

Interested audit firms should submit the following documents:

Proposals must be submitted no later than November 15, 2024.

XI. CONFIDENTIALITY

All information provided to the auditors by WVI-V, as well as any documents reviewed, must be treated as confidential. The auditors must not disclose any information without prior written consent from WVI-V.

XII. SUBMISSION GUIDELINES

Audit firms interested in conducting the audit should submit the following documents:

Knowledge & Skill

Experience

Having experience working with INGOs is a plus