Summary
Date Posted: Wednesday, September 01, 2021 , Base Salary: Not Disclosed

JOB DETAILS:
Job title: Inclusive Education Policy Project –Financial Audit
Organization: CBM
1. OBJECTIVE
The objective of the audit of the Project Financial Statements (PFSs) is to enable the auditor to express a professional opinion on the financial position of the project at the end of the project period, and on funds received and expenditures incurred.
The project accounts (books of account) provide the basis for the preparation of the PFS and are established to reflect the financial transactions in respect of the project. The implementing agency maintains adequate internal controls and supporting documentation for transactions.

2. SCOPE
The audit will be carried out in accordance with International Standards of Auditing taking into account also local standards and legislation, and will include such tests and controls, as the auditors considers necessary under the circumstances.
In conducting the audit, special attention should be paid to the following:
• All project funds have been used in accordance with the conditions of the relevant financing agreements as stipulated in the Project Agreement and its Annexes, with due attention to principles of economy and efficiency, and only for purposes for which financing was provided.
• Goods and services financed have been procured in accordance with the relevant financing agreements and donor guidelines as contained in the Project Agreement and its Annexes.
• All necessary supporting documents, records, and accounts have been properly kept and correctly filed.
• Internal administrative and financial control measures are adequate and compliant with local laws and donor requirements as stipulated in the Project Agreement and its Annexes.
• The project accounts have been prepared in accordance with consistently applied International Accounting Standards and give a true and fair view of the financial situation of the project and of resources and expenditures.
• Ensure that work contracts and their taxation are in accordance to Kenyan Law.
• Expenditures in the financial statements are identical to the annually reported expenditures through the Voucher lists of the Project Progress Report (PPR).
• The books of accounts and related subsidiary records and documents of the Project should be examined on cash book basis.
• The auditor shall carry out a physical inspection of the Project and assets if major amounts are involved or if this is considered to be appropriate or necessary for the purposes of the audit.
3. Project Financial Statements
The audited Project Financial Statements should include:
• Income and Expenditure statement.
• statement of income, summarising the funds received by the project reflecting the income contained in the Project Agreement and its Annexes, both for each fiscal year and for the entire project period. Any Project funds from other donors or any earned interests should be included.
• a statement of expenditures summarising the funds spent by the project reflecting the same budget lines contained in the Project Agreement and its Annexes, both for each fiscal year and for the entire project period.
• a Balance Sheet showing Accumulated Funds of the Project, bank balances, other assets of the Project, and liabilities, if any.
• Notes to the Financial Statements providing details as deemed necessary by the auditors
4. Audit Opinion
The auditor will issue an opinion on the Project Financial Statements (PFSs). The annual audit report of the project accounts should include a separate paragraph highlighting key internal control weaknesses and non-compliance with the financing agreement terms.
The Auditor’s certificate which shall contain the following:
We hereby certify that we have audited the Financial Statement of (name of the reporting entity) with reference to the financing of the project (name) on the basis of the following documents made available to us (please list the documents). To this end, we have inspected the books and vouchers and report that:
• Income and expenditure are properly proved in the form of vouchers.
• The proved expenditures are in line with the appointed purpose as set out in the annex 1 of the Tripartite Contract (Annex 1). Any deviations from the Financing Plan are described and explained separately.
• The amount and origin of documented income which is accounted for as counterpart contributions made by CBM, the executing agency, the target group and/or other agencies in the project country have been specified.
• The conditions for project implementation set by the donor have been observed/have not been observed in the following points.
• Any particularities which need to be mentioned.
5. MANAGEMENT LETTER
In addition to the audit report, the auditor will prepare a “management letter” in which the auditor will:
• Give comments and observations on the accounting records, systems, and controls that were examined during the course of the audit;
• Identify specific deficiencies and areas of weakness in systems and controls and make recommendations for their improvement;
• Report on the degree of compliance of the local partner with the clauses contained in the project agreement and its annexes, and give comments – if any – on the internal and external matters affecting such compliance;
• Communicate matters that have come to attention during the audit which might have a significant impact on the implementation of the project; and
• Bring to attention of the donors any other matters that the auditors consider pertinent

6. SPECIFIC DONOR REQUIREMENTS
• The chartered accountant shall structure his auditor’s certificate according to the quantitative documentary proof of the statement of application of funds (cf. Annex 1). S/he must record the commissions and documents, which make up the terms of use made available on which the audit is based.
• Expenditure which exceeds the budget appropriations by more than 30% shall be explained separately, if the approval of the CBM Germany has not previously been obtained.
• The final auditor's certificate shall contain the following (minimum requirement):
• "We hereby certify that we have audited the statement of accounts of (name of the project-executing agency in the developing country) in respect of the financing of the project (name) on the basis of the following terms of use made available to us (list of commissions and documents). To this end, we have inspected the books and vouchers and report that:
• Proofs of receipts and expenditure have been properly furnished in the form of vouchers.
• The expenditures, for which evidence has been supplied, are in keeping with the appointed purpose as set out in the Financing Plan. Any deviations from the Financing Plan are described and explained separately.
• The amount and origin of documented income which is accounted for as counterpart contributions made by the project executing agency, the target group and/or other agencies in the project country have been specified.
• The terms set by the donor have been observed/have not been observed in the following points.
• Special notes."
7. GENERAL
The auditor should be given access to all legal documents, correspondence, bank statements, and any other information associated with the project and deemed necessary by the auditor. Confirmation should also be obtained of amounts disbursed and outstanding – if any – at CBM. CBM team will assist in obtaining these confirmations.
The budget approved is in EUR, all Project Financial Statements must be reported in KES and no conversion to EUR will be required.
8. TIME FRAME, AUDIT COSTS AND REPORTING STRUCTURE
The audit shall commence when an agreement has been signed by the IMPLEMENTING AGENCIES and the AUDITOR (duly signed copies to be sent to CBM). This Agreement expires after the Final Audit Certificate has been accepted by CBM unless earlier notice is given by either party.
The audit report should be available to CBM no later than 08th October 2021.
The audit costs should be inclusive of all costs:
The costs shall be due for payment 40% down payment and 60% on presentation of the final audit report
Annex 1: Statement of application of funds (Quantitative documentary proof)
Project number
Statement of accounts for 2019 to 2021 [Please fill period]
Financial statement as at [Please fill date]
1
Expenditure
Appropriation according to Financing Plan of
[date]
Actual expenditure
Deviation
in local currency
in local currency
– as a % –
B1
Investment Costs
B1.1
Equipment and technology for lab team, model schools and EARCS
B1.2
Office Equipment ADDA project staff
B2
Running Costs
B2.1
Trainings and Capacity Building
B2.2
Assessment and Development of Prototypes,schools and EARCs
B2.3
Documentation and visualization
B2.4
Monitoring Costs
B2.5
Expenditure verification/Audit
B2.6
Office Cost ADDA
B3
Personnel
B3.1
Project Staff Programme
B3.2
Project Staff Admin
B5.1
External Evaluation / Study
Total expenditure
Receipts
Budgeted receipts according to Financing Plan of
[date]
Actual receipts
2.1
CBM grant and financial contribution from private executing organisation
2.2
Contribution from project-executing agency, target group and/or other source
2.3
Additional resources
(e.g. interest, sales revenue)
Total receipts
[1] Overspending = Actual total expenditure – Appropriation total expenditure according to Financing Plan

Education Requirement: No Requirements

Job Experience: No Requirements

Work Hours: 8

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Job application procedure
Expressions of Interest shall be submitted by 4th September 2021 via e-mail to recruitment.kenya@cbm.org. Applications shall be appraised as they are received Expression of interest must be clearly marked ’2021 KCO - Inclusive Education Policy Project –**Financial Audit** and shall include:
• Brief description of consultancy firm/consultant/team
• Detailed CVs of each suggested team member
• Understanding of this TOR and suggested methodology
• Availability of team and suggested schedule
• Financial proposal
Only complete applications will be considered. CBM may ask for references and/or examples of previous work and reports during the recruitment process. The consultant reserves the right to terminate the contract in case the suggested and agreed upon team members are unavailable at the start of the evaluation and no adequate replacement can be provided.
Each team member, incl. interpreters, enumerators etc. need to fully comply with and sign CBM’s Code of Conduct and Child Safeguarding Policy as well as commitment to data security and privacy.

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