call for audit proposals: typhoon ulysses emergency assistance- Coca ColaNASSA

I. Background
According to the National Disaster Risk Reduction and Management Council (NDRRMC), a total of 532,871 families (2.074 million individuals) from eight regions in Luzon have been severely affected[1] by not only of Typhoon Vamco, but of the massive flooding brought by intense rains which last for at least 3 weeks already.
As of November 16, 2020, 67 were reported dead, 21 injured and 13 missing in four regions.[2] According to the Department of Public Works and Highways, 139 road sections and 82 bridges are still not passable.
The Department of Agriculture reported an estimated damage to the sector of around 2.137 billion pesos, while 482 million pesos were the recorded damages to infrastructure. The succession of typhoons also damaged 37,178 shelters.
According to the rapid assessments, community consultations and the reports triangulated with the local government units and the media, by the dioceses and the national Caritas, there is an overwhelming need for the following:
Food (hot meals, rice, canned goods, fresh fish, meat and vegetables, coffee, milk, sugar)
Water
Sleeping kits (blankets, mosquito nets, pillows)
Hygiene kits (soap, detergent, toothbrush, tooth paste, sanitary napkins, diapers)
Kitchen materials (cooking utensils)
shelters
For this particular response, NASSA/Caritas Philippines and the dioceses have decided that it would be best to concentrate on providing immediate food and non-food relief to 7,100 households as other response actions will be dealing mostly with shelter repairs and rehabilitation.
II. Purpose
The ToR is intended to provide guidance and reference to DONOR and NASSA Caritas Philippines in arranging Project audit. The project audit is mandated for transparent outcome with justifying financial statement include management letter for further improvement and to mitigate challenges in accordance to financial principles and rules.
III. Objective
The objective is to conduct an external audit in accordance with auditing practices including expenditure verification using international audit standard established in obtaining reasonable assurance whether the financial statement is free of material misstatement. The audit shall be conducted in NASSA/Caritas Philippines Office in Intramuros, Manila within given time-frame.
The main objectives of this audit are to enable the Auditor to express an opinion on whether:
The Financial information and reports are accurately present, in all material respects, the actual expenditure incurred and the revenue received by the Project Holder for the period implementation period of 1 December 2020 - 28 February 2021, in conformity with the applicable Contractual Conditions set with donors (if applicable).
The incomes and expenses, assets and liabilities are adequately supported by original documentation and have been properly accounted for; for assets declared as used, the inventory systems show proofs of existence at the date of the agreement; the method applied for the conversion of local and foreign currencies into Euro is consistent with standard accounting practices.
Adequate and effective internal control system exists.
IV. Audit Scope
· The audit work shall cover the adequacy of accounting and financial operations, reporting and management as well as accounting procedures (referring to the national law and the international accounting standards).**
· A verification of mathematical accuracy is expected, in order to ensure that the expenditures described in the financial statements are reconciled with the supporting documents and with the bank statements.
· The period covered by the audit is from 1 December 2020 - 28 February 2021
· The audit will take place in NASSA/Caritas Philippines within specific duration as mentioned in the contract.
In addition to the audit as such, the Auditor is requested to provide his professional opinion on the financial management, the bookkeeping system and the procedures for internal controls and his opinion on the financial statements of NASSA/Caritas Philippines
NASSA will share contract and copy of and financial documents such as consolidated report bank statements, Tally data will be shared.
V. Guidelines for the Audit
To review all relevant documents referring to donor contract, fund contribution and banks at consolidated level. **
To check rights and obligation towards financial compliance and obligation including financial policies and procedures. **
· To assess whether the financial reports, as prepared & compiled by NASSA, are in accordance with DSACs level, and to examine completeness, accuracy and legitimacy of income and expenditure as stated in the financial reports.
· Review financial support documents including cash/bank check payment vouchers in complying signature of certified officers.
· Interview with financial key staff members in regards to verify the segregation of duties and responsibilities (accounts of expenditures, internal control, cash management and reporting functions).
· To examine and to verify the existing administrative procedures, including the measures and procedures for internal controls and their application with respect to financial transaction and the use of funds.
· To examine whether the expenditures are classified in accordance with the consolidated budget, as included in the Project description which forms part of the contract with Donor.
· Expenditure verification against the budget lines including support documentation.
· To verify procurement policy in compliance to financial obligations and thresholds.
· To examine all bank accounts related to the project in terms of grants receipt and verify bank reconciliation through payments to DSACs or any other sub-contractor/s.
· To examine a representative sample of payment transaction of and within the Project, including accuracy and completeness of records and evidence in financial accounting system TALLY and related report.
· To examine whether the funds, including bank interest are realized appropriately and any interest earned, have been used for the implementation and realization of the program activities, in accordance with the contract.
· Verify foreign exchange transactions (grants receivable) into hard currency bank accounts and examine whether foreign exchange rate applied is adequate in the report.
· Based on a risk analysis, to form an opinion as to whether NASSA/Caritas Philippine is capable of monitoring the program and activities, from the points of view of financial management and general project management.
VI. Audit Report
The audit report should include the following:
· Audit method used and the scope of the audit.
· A statement declaring that all information and documentation needed to complete the audit has been made available as required.
· Declaration that the required audit standards that have been applied.
· Distribution and use of the audit report.
· Formal Opinion.
· The period covered by the report.
· Cash flow statement covering the implementation period.
· Statement of receipts and expenditures covering the implementation period.
· Income table by source of funding
· The balance at the end of the implementation period.
The auditor should submit a letter to the management at the completion of the audit. The management letter should include recommendations to address any weaknesses identified with regards to financial regularity, the internal control system, adherence to contract conditions (if applicable) and the effective use of financial resources.
VII. Deadlines**
The auditors shall provide a draft final report of their findings including an opinion, a management summary and a set of conclusions and recommendations no later than the date stipulated in the agreement.
These findings are to be reviewed by the NASSA Caritas Management and IG-2018-33181 Team before the audit report is finalized and submitted.
VIII. Eligibility of the Auditors
By agreeing these ToR the Auditor confirms that he/she meets at least one of the following conditions:
The Auditor and/or the firm is a member of a national accounting or auditing body or institution which in turn is member of the International Federation of Accountants (IFAC).
The Auditor and/or the firm is a member of a national accounting or auditing body or institution. Although this organisation is not member of the IFAC, the Auditor commits him/herself to undertake this engagement in accordance with the IFAC standards and ethics set out in these ToR.
The Auditor and/or the firm is registered as a statutory auditor in the public register of a public oversight body in a third country and this register is subject to principles of public oversight as set out in the legislation of the country concerned (this applies to auditors and audit firms based in a third country).
IX. Payment & payment condition:
The audit fee and payment schedule will be based on signed Agreement.
[1]
[2]
ReliefWeb

Manila City, Metro Manila
Permanent
Full-time