IHPS: Terms Of Reference For External Auditors

Institute of Health Programs and Systems (IHPS)
Please note: this opportunity closing date has passed and may not be available any more.
Opportunity closing date: 
Tuesday, 31 December, 2019
Opportunity type: 
Employment

Background

The Institute of Health Programs and Systems (IHPS) is a South African non-profit company (NPC) born out of the PEPFAR CDC Track 1 transition of the ICAP, Columbia University, Multi-country AIDS Program (MCAP) in South Africa in 2010. The IHPS mission is “to strengthen health and development systems through program implementation and partnerships” and the vision is “optimal and sustainable health and development outcomes”. Presently, IHPS is a Global Fund (GF) Subrecipient (SR) implementing programs for Adolescent Girls and Young Women (AGYW), Men who have Sex with men (MSM), and Transgender (TG) people in Mpumalanga, Free State, Limpopo and North West Provinces from April 2019 to March 2022. The estimated value of the GF grant is R200 million over a period of three years.
 
Objectives and Scope of the Audit

The objective of the audit is for the auditors to conduct audit reviews as follows:

  • The auditors shall express an independent professional opinion as to whether the financial statements present fairly, in all material respects, the financial results and position of IHPS in accordance with the International Financial Reporting Standards for Small and Medium Entities (IFRS for SMEs) and the requirements of Companies Act of South Africa.
  • The audit shall be carried out in accordance with the International Standards on Auditing (ISAs) as issued by the International Federation of Accountants (IFAC).  The auditors in their duties shall comply with the duties imposed upon them by the Audits Professions Act and the Companies act of South Africa. 
  • Management letter-The Auditors should submit a management letter after the completion of the audit in which auditors will:
    • Identify specific deficiencies or areas of weakness in systems and controls, and make recommendations for their improvement;
    • Examine on test basis that appropriateness of supporting documents, records and books of accounts relating to all project activities; 
    • Include management responses to audit findings and recommendations;
    • Any matters that come to the auditor’s attention during the audit that might have a significant impact to the implementation of the programme.
    • Examine, assess and report on compliance with the terms and conditions of the agreement between funding partners and IHPS and applicable laws and regulations within accounting and taxes;
    • The auditor shall report the identified amount in case there are any missing supporting documents;
    • Any matters that come to the auditor’s attention during the audit that might have a significant impact to the implementation of the programme.
  • If IHPS channel funds to other organisations, the auditor shall examine if IHPS has followed funding partners audit requirements in the next step and have satisfying routines/resources for acting on received audit reports from these organisations.
  • The audit reports shall:
    • Contain details of the method and scope of audit and assurance that the audit was performed in accordance with International Standards of Auditing and by a qualified auditor.
    • Signed by the auditor responsible stating the title.
    • Written in English
    • Issued in soft copy for circulation to Partners and 10 hard copies will be produced and delivered to IHPS for partner’s files.

Responsibility for preparation of Financial Statements

The responsibility for preparation of the annual financial statements lies with the IHPS directors and management.

  • Directors will prepare the annual financial statements in accordance with IFRS for SMEs.
  • Management is responsible for implementation of accounting, administrative and financial procedures documented in the IHPS policies.
  • IHPS financial year end runs from 1 March to 28 February.
  • Rotation of auditors will be done at least after 3 years at the discretion of the IHPS management and Board of Directors.
  • NB IHPS reserves the right to terminate the engagement should it deems necessary even before 3 years.

Selection Criteria

IHPS will do the adjudication after the proposal submission deadline. The selection criteria will include the following:

  • Eligibility - authorization by the State Board of Accountants to conduct audits.
  • The audit firm must have prior experience in relation to the scope of audits for non-profit organisations in South Africa and beyond.
  • A list of similar non-profit organizations served by your firm is required.

A. Your staff assignments and availability to complete the audit on a timely basis.

  • Participation of senior audit personnel assigned to the engagement.
  • Depth of Technical Resources (CV of the assigned team leader).
  • Availability of staff to respond to questions within the scope of the engagement and the hourly charge, if any, for services outside the scope of the audit.

B. Audit firm staff stability history - what assurances can you provide regarding the assignment of your permanent personnel to the engagement. 

C. Proposed fee for the engagement including a schedule for additional services that may be necessary beyond the scope of the audit engagement. The proposal should indicate anticipated fees for the second and third years 

D. Detailed audit plan/methodology including your approach to risk and fraud detection.
 
E.Estimated number of hours to complete the audit by classification of your employees, i.e. partners, senior, junior.
 
F. Detail of expenses expected to be incurred, i.e. mileage, per diem, telephone, etc.

Time Requirements:

IHPS reserves the right:

  • To reject any and all proposals submitted.
  • To request additional information from all bidders.

Shortlisted audit firms will be advised after the closing date of applications.
 
Deadline for submission 31 December 2019

For further information and proposal submission Email: proposals@ihps-sa.org       

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