Hiring of Firm for Conducting Independent Operational Audit (Internal Audit) for... Tender

Procurement Summary

Country : Bangladesh

Summary : Hiring of Firm for Conducting Independent Operational Audit (Internal Audit) for RELI Project of SDF

Deadline : 04 Jun 2024

Other Information

Notice Type : Tender

TOT Ref.No.: 101222457

Document Ref. No. : SDF/Pro/Firm/Internal Audit /S-2.0 (RELI)/2023/1501

Competition : ICB

Financier : World Bank (WB)

Purchaser Ownership : Public

Tender Value : Refer Document

Purchaser's Detail

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Tender Details

Expression of Interest are invited for Hiring of Firm for Conducting Independent Operational Audit (Internal Audit) for RELI Project of SDF

The objectives of the internal audit are to review and report on:
 Reliability of the Financial Management System, financial data and report at all tiers of operation;
 Adequacy and effectiveness of the accounting, financial and operational controls;
 Complete compliance with Project Agreement, Project Appraisal Document (PAD),
Financing Agreement, Subsidiary Grant Agreement (SGA), Project Cost Table, Project
Implementation Plan (PIP), Community Operational manual (COM), CARE Fund Manual
(CFM), Human Resource Policy and Manual, Public Procurement Rules 2008, World Bank
Procurement Guideline and other terms and conditions of the agreement.
 Internal Control Systems: completeness, written instructions, effective implementation and
frequency of review and up-dating;
 To examine financial performance, key ratios and overall profitability that lead to the
Village Community Institutions and the RELI Community Societies (RCCSs and RDCSs)
sustainable;
 To assess whether RELI villages are able to utilize all VDF allocations and funds are not
sitting idle in the village institution-s bank account;
 Level of compliance with the established policies, plans and procedures;
 Financial Monitoring Report (FMR): completeness, timeliness, occurrence, measurement,
recording, regularity including eligibility and propriety; and
 Assets: completeness, existence, recording, safeguard and utilization for the purpose
intended.
 Loan management System (LMS): Comprehensive assessment of the Loan Management
System (LMS).

Internal auditors must exercise due professional care by considering the;
 Extent of work needed to achieve the engagement-s objectives;
 Relative complexity, materiality, or significance of matters to which assurance
procedures are applied;
 Adequacy and effectiveness of governance, risk management, and control processes;
 Probability of significant errors, fraud, or noncompliance; and
 Cost of assurance in relation to potential benefits.

That separate bank account is maintained, cheque book, pass book and deposit slips
are kept in proper custody, cheque issue register is maintained, all payments above
Tk. 5, 000/- are made by cheque and that bank reconciliation is prepared regularly

Documents

 Tender Notice