DEADLINE: 17TH JULY, 2023
NURU NIGERIA
REQUEST FOR PROPOSAL FOR CONSULTANCY SERVICE FOR THE AUDIT OF ACCOUNT BOOKS OF NURU NIGERIA FOR 2022

(1) INTRODUCTION TO NURU NIGERIA
Nuru Nigeria is requesting proposals from certified Accountancy firms that have extensive experience in auditing the books of Not-for-Profit Organizations.

Organizational Overview.

Nuru Nigeria is an international NGO working to end extreme poverty in Nigeria. Nuru’s first integrated development project is in its startup phase working towards full operations launching in  2018.. Operations and staff will be based in a country office in the city of Yola, Adamawa State Nigeria. These projects are currently funded by Nuru International to Nuru Nigeria via periodic grants, USAID, ACTS Foundation and GIZ. The organization has a December 31 fiscal year-end. We are utilizing QuickBooks Online for all financial records and are seeking an external firm to Audit the books for the financial year (FY2022).

(2) KEY PRINCIPLES: ETHICAL STANDARDS AND CODE OF CONDUCT
It is important to be mindful that NURU NIGERIA conducts its business in an honest manner. And so consultants working with NURU NIGERIA must abide by its ethical standards and code of conduct stipulated below.

NURU NIGERIA ethical standards include avoidance of child labor, child safeguarding and protection, respect of basic social rights and working conditions based on international Labor Standards, environmental conditions and the avoidance by contractors of any connection with a party to a conflict, involvement in the exploitation of natural resources, in particular commodities such precious metals, stone and rare earth.

Nuru’s approach of sustainable, locally-led development is based on this philosophy: a strong African woman who possesses the same skill set and knowledge as an international development expert is far more capable of sustainably ending extreme poverty in her country than the expert will ever be. From day one, every Nuru project starts with building local ownership and buy-in. Nuru starts a separate local organization (with its own board) in each country that it operates. Nuru acts as the scaffolding around the local organization. Needs are identified with the community. Programs are co-designed locally. As the local organization matures, Nuru removes layers of scaffolding until the international team eventually leaves after 5-7 years. The local organization continues to make an impact, scale, and adapt. Nuru has already accomplished this exit with its projects in Kenya (exited June 2015) and Ethiopia (exited June 2018). Nuru’s work in Kenya also featured in 2020 as part of a three-year USAID-funded research study called “Stopping As Success: Planning For Success From Start To Exit”

Nuru Nigeria was established in 2018 to help Nigerian farmers and their families lift themselves out of extreme poverty by helping farmers move from subsistence to building thriving farmer-owned and farmer-led cooperatives. Nuru Nigeria works with farmers in northern Adamawa State to end extreme poverty and build resilient communities. Nuru believes that the best solutions to fighting extreme poverty come from the local community, and we are a 100% locally-led organization with locally-designed solutions built for driving long-term positive impact for our farmers.

(2.1) OUR UNDERSTANDING OF YOUR NEEDS

Background/Overview
Nuru Nigeria was established in 2018 to help Nigerian farmers and their families lift themselves out of extreme poverty by helping farmers move from subsistence to building thriving farmer-owned and farmer-led cooperatives.

Nuru Nigeria works with farmers in northern Adamawa State to end extreme poverty and build resilient communities. Nuru believes that the best solutions to fighting extreme poverty come from the local community, and we are a 100% locally-led organization with locally-designed solutions built for driving long-term positive impact for our farmers.

The objective of the Assignment.

The major objective of the audit exercise is.

  • The audit must be conducted in accordance with recognized international standards -ISA (IFAC) ISSA 1(INTOSAI), or similar international standards.
  • The auditor must verify whether the Organization’s financial statements present a fair and true view, regarding the operations included in financial statements.
  • The auditor with a special focus on accounting practices, financial management, and internal control.

Scope of Assignment
Nuru Nigeria is interested to hire the services of a certified audit firm to provide audit services to the Nigeria Country office (CO) for the period of 1st January to 31st December 2022 and request for a tax clearance certificate for the year 2022 for the organization and for Nuru Nigeria Staff. The scope of the audit will assess the following project documents.

  • Annual audit of Nuru’s financial statement in accordance with all applicable audits; accounting and financial reporting standards.
  • Audit will cover the entire Nuru Nigeria funds and Projects being implemented.
  • The audit will be carried out in accordance with International Standards on Auditing (ISA) or International Standards of Supreme Audit Institutions (ISSAIs) or national auditing standards (where these do not materially differ from ISAs of ISSAIs) and will include such tests and controls as the auditor considers necessary under the circumstances; (ISSAIs) and will include such test and controls as the auditor considers necessary under the circumstances.

(3.0) JOB SUMMARY
Nuru Nigeria is interested in hiring a certified audit firm to provide audit services to the Nigeria Country office (CO) for the period of January to December 2022 and requests a tax clearance certificate for the year 2022 for the organization and for Nuru Nigeria Staff. The scope of the audit will assess the following project documents.

Our vision is to cultivate lasting meaningful choices in the most vulnerable and marginalized communities in the world, starting in northeast Nigeria. By 2025, our mission is to build resilience corridors of strong, locally owned farmer cooperatives driving profitable livelihoods in eight conflict-vulnerable local government areas of Adamawa, Borno, and Yobe states.

The scope of the audit will assess the following project documents.

(3.1) OBJECTIVES AND SCOPE OF THE AUDIT.

  • The objective of the audit of NURU NIGERIA Financial statements is to enable the auditor to express an independent professional opinion as to whether the financial statements in all material respect present a true and fair view of NURU NIGERIA state of affairs, in compliance with international financial reporting standards (IFRS) and other regulations in Nigeria.
  • The book of accounts provides the basis for the preparation of NURU NIGERIA Financial statements and is established to reflect the financial transactions in respect of the project. NURU NIGERIA maintains adequate internal controls and supporting documentation for transactions relevant to preparing and presenting financial statements.
  • The audit will be conducted in accordance with the International Auditing Standards and will include tests and verification procedures as the auditors deem necessary.
  • All funds have been used in accordance with the conditions of relevant financing agreements, with due attention to economy and efficiency, and only for the purpose for which financing was provided.
  • Appropriate supporting documents, records, and books of accounts relating to all activities have been kept. Clear linkages between the books of accounts and the financial statements presented.
  • The financial statements have been prepared by NURU NIGERIA management in accordance with applicable accounting standards and give a true and fair view of the financial position of NURU NIGERIA and 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 transactions.
  • express an opinion as to the reasonableness of the financial statements in all material respect.
  • Include in their reports opinion on compliance with procedures designed to provide reasonable assurance of detecting misstatements due to error or fraud that are material in the financial statements.
  • Upon completion of the audit, the audit firm will be expected to request a tax clearance certificate.
  • In addition to the audit report, the auditors will prepare a management letter, in which the auditor will.

(i) Give comments and observations on the accounting records, procedures, systems, and controls that were examined during the cause of the audit.

(ii) Report on the degree of compliance for financial covenants in the financing agreement and give comments, if any, on the internal and external matters affecting such compliance.

(iii) Identify specific deficiencies and areas of weaknesses in the system and controls and make recommendations for improvement.

(iv) Communicate matters that have come to their attention during the audit which might have a significant impact on the sustainability of the organization.

(4) DELIVERABLES
Upon completion of the audit work, the auditors will submit 2 (two) original hard copies and soft copies of the audited report appended to the financial statements along with the reports to the attention of the Managing Director.

Management letter per the scope of work described above provides a tax clearance certificate for the year 2022 for Nuru Nigeria.

(5) ELIGIBILITY CRITERIA
Please read this section carefully and be sure that all requested information is included in your submission. Evaluators will neither make assumptions nor draw inferences regarding missing or incomplete information. The submission of incomplete information could result in the rejection of submissions.

Quotations should be comprehensive and highlight how the bidding company intends to meet up with our requirements as stated above, in addition to clearly stating service costs and/or rates of commission, proposals should include the following;

Interested firms must meet the following criteria.

(a) Evidence of Valid Practicing License issued by the relevant professional body.

(b) Evidence of valid registration with the corporate affairs commission with:

(i) a Copy of the Memorandum and Article of Association

(ii) a Copy of forms CAC2 and CAC7.

(c) The firm profile, evidence of corporate office, phone number, and email address, including professional qualifications of key staff, and experience with respect to similar successful previous engagements.

(d) Audited accounts of the firm for the last three years i.e., 2019, 2020, and 2021, evidence of valid tax clearance certificates for the year 2021.

(e) Demonstrable experience in the audit of an International Non-Governmental Organization (INGO) and a Verifiable list of previous/similar projects/work carried out in the recent past.

(f) Evidence of tax clearance certificate for the last three years Tax Identification Number (TIN)

(g) Evidence of financial capability and bankers’ support letters

(h) Explain clearly other services your company specializes in.

A completed Tender Should contain the following:

(a) Completed Quotations for the Audit exercise in the three States.

(b) Availability to conduct the exercise within 15 days, if chosen.

(c) Company Profile with the supporting documents.

(6) PROPOSAL’S CONTENT
The proposal should have a detailed and general background of the firm including a brief assessment of what our needs are and how your firm proposes to meet those needs.

Please read this section carefully and be sure that all requested information is included in your submission. Evaluators will neither make assumptions nor draw inferences regarding missing or incomplete information. The submission of incomplete information could result in the rejection of submissions.

Quotations should be comprehensive and highlight how the bidding company intends to meet up with our requirements as stated above, in addition to clearly stating service costs and/or rates of commission, proposals should include the following;

(7) All proposals including financial quotations should be submitted to:

Nuru Nigeria
K46 Karewa, GRA Jimeta, Yola Adamawa State

Alternatively,

  • Bids can also be submitted in soft copies with this reference in the subject.

The closing date for submission of the Tendering package is by 17 July 2023 at 2:00 PM.

(8) Auditor’s report
The audit shall be conducted in accordance with International Standards on Auditing (ISA) 800 “The Independent Auditor’s Report on Special Purpose Audit Engagements and as promulgated by the International Federation of Accountants and that standards used for the preparation of the financial statements are in accordance with the International Financial Reporting Standards.

The Auditor’s report shall include an audit opinion.  See the example and format for Auditor’s report, appendix 1.

(9) Management Letter
The auditor shall also, attached to the Auditor’s Report, submit a Management letter that needs to describe the purpose and the agreed-upon procedures of the engagement in sufficient detail to enable the reader to understand the nature and the extent of the work performed.  The Management letter shall also include factual findings.  See the example and format for a Management letter attached to Auditor’s report, appendix 2. A management response is necessary for all findings.

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