Overview:RFP Number: RFP-HWM-0108


Issuance Date: Wednesday, 16 October 2024


Deadline for Offers: Friday, 25 October 2024


Currency of Proposal: Local Currency NGN


Description: External Audit Engagement


Project: Health Workforce Management (HWM) Activity


Funded By: United States Agency for International Development (USAID),
Contract No.: 7200AA18D00027/72062020F00009


Implemented By: Banyan Global
Contact: hwmprocurement@banyanglobal.com


Proposals: Proposals in response to this RFP must be priced on a fixed-price, all-inclusive basis, including delivery and all other costs. Offerors must present pricing in naira. Offers must remain valid for not less than 30 calendar days after the offer deadline. Offerors must provide proposals on their official Proposal format or letterhead.


In addition, offerors responding to this RFP must submit the following:

• Copies of their official registration or business license, Company profile, Tax Identification Number (TIN), and Tax Clearance Certificate (all legal business registration documents and tax identification numbers)
• Reference of past performance on similar services
• Copies of their identification cards

Responsibilities: Proposed Guideline - Terms of Reference

• Audit Objective

Audit and Report of on the Financial Statements of BG Laurel International Services Nigeria Ltd/Gte for the fiscal year ending 30 September 2024


The above undertaking shall be performed in accordance with the International Financial Reporting Standards (IFRS), the provisions of the Companies and Allied Matters Act, Chapter C20, Laws of the Federation of Nigeria 2004 and compliance with the Financial Reporting Council Act Ng 6, 2011 and accordingly include such tests of the accounting records as deemed necessary under the circumstances.

• Scope of Work (So W)

The objective of the engagement is to perform a statutory audit and express an opinion on whether the financial statements give a true and fair view of (or present fairly, in all material respects) the financial position, results of operations, and cash flows of BG Laurel International Services Nigeria Ltd/Gte through the performance of an audit and report on the financial statements, including the fund accountability statement of BG Laurel International Services Nigeria Ltd/Gte for the year ending 30 September 2024.
This engagement is also informed by the requirement for BG Laurel International Services Nigeria Ltd/Gte to submit its Fiscal Year (FY) 2024 returns to the Federal Inland Revenue Service (FIRS), for presentation at the annual general meeting.
The offeror shall communicate any limitations in the scope of work as soon as possible to the Country Director, BG Laurel International Services Nigeria Ltd/Gte.

• Deliverables (Reports)

The offeror shall submit the Audit and Report of the Financial Statements to BG Laurel International Services Nigeria Ltd/Gte Office not later than 30 November 2024.

• Pre-Audit Steps

The offeror should review the applicable documents considered necessary to perform the audit:

• The agreement (including amendments)
• The sub-agreements between the recipient and other implementing entities, as applicable
• The budgets, project implementation letters, and written procedures
• USAID Automated Directives System Chapter 636 – Program Funded Advances
• Federal Acquisition Regulations
• Mandatory Standard Provisions for U.S. Nongovernmental Grantees (USAID Automated Directives System, Series 300)
• All project financial and progress reports; charts of accounts; organizational charts; accounting systems descriptions; procurement policies and procedures; and receipt, warehousing, and distribution procedures for materials, as necessary to successfully complete the required work
  
• Compliance with Agreement Terms and Applicable Laws and Regulations

The auditor's report on compliance should set forth all material instances of noncompliance as findings. The auditor shall include nonmaterial instances of noncompliance in a separate management letter.


The auditor's report should include all conclusions, based on evidence obtained, that an irregularity or illegal act either has occurred or is likely to have occurred. In reporting material irregularities, illegal acts, or other noncompliance, the auditor should place its findings in proper perspective. To give the reader a basis for judging the prevalence and consequences of these conditions, the auditor shall relate the instances identified to the universe or the number of cases examined and be quantified in terms of dollar value, if appropriate.

• 
  Internal Control Structure

The auditor shall review and evaluate the recipient's internal control structure related to projects to obtain a sufficient understanding of the design of relevant control policies and procedures and whether those policies and procedures have been placed in operation. The auditor should document its understanding of the internal control structure in the working papers.

• Financial statements

The auditor shall examine the financial statements and the costs reported by the recipient as incurred during the period ending 30th September 2024.


The auditor should use the steps outlined in the proposed activity chart (Annex 1) and as supplemented elsewhere in the contract as the basis for the audit programs and the review. Banyan Global does not consider the steps all-inclusive or restrictive in nature and does not consider the steps to constitute relief from exercising due professional care and judgment


Annex 1: Statutory Audit

• Meeting with BG Laurel International Services Nigeria Ltd/Gte Management:
  • Review of the management meetings Minutes for approval of major BG Laurel International Services Nigeria Ltd/Gte’s transactions
  • Review of volatility, complexity, and subjectivity of accounting rules
  • Review of the quality of internal controls over BG Laurel International Services Nigeria Ltd/Gte ’s transactions
  • Request for existing policies and procedures
  • Review of financial budget
• Compliance Audit Work:
  • Interview of relevant BG Laurel International Services Nigeria Ltd/Gte personnel
  • Data collection and analysis
  • Preliminary evaluation of the control environment through flowcharts, etc.
  • Documentation of project transaction processes
  • Identification of risks areas
  • Documentation of controls
  • Assessment of the effectiveness of the design of the controls
  • Test of controls
  • Comments and recommendations where appropriate for improvement
• Substantive Audit Work:
  • Confirming the occurrence of the recorded BG Laurel International Services Nigeria Ltd/Gte project transactions (statement of financial activities items) and the existence of the recorded balances (statement of financial position items)
  • Review the presentation and disclosure of the accounts in the financial statement to ascertain whether they comply with the International Standards on Auditing (ISA)
  • Confirm that the statement of counterpart funds and external funds represent the rights and obligations of the BG Laurel International Services Nigeria Ltd/Gte as at the end of the period under review
  • Confirm that all project transactions that occurred and all the liabilities that resulted have been completely recorded
  • Reconcile summary schedules to general ledger to confirm that the balances in the financial statements are properly valued
• AUDIT REPORT – Draft and Final Reports
  • Prepare draft audit report
  • Prepare draft management letter
  • Discuss draft management letter and draft audit report
  • Resolve issues arising from the discussion

Qualifications:

• Banyan Global may conduct negotiations with and/or request clarifications from any offeror prior to award.
• While preference will be given to offerors who can address the full technical requirements of this RFP, Banyan Global may issue a partial award or split the award among various offerors.
• Banyan Global may cancel this RFP at any

• Banyan Global’s standard payment terms are net 30 days after receipt and acceptance of any commodities or deliverables. Banyan Global will issue payment only to the entity submitting the offer in response to this RFP and identified in the resulting award; Banyan Global will not issues payment to a third
• Any international air or ocean transportation or shipping carried out under any award resulting from this RFP must take place on U.S.-flag carriers/vessels.
• United States law prohibits transactions with, and the provision of resources and support to, individuals and organizations associated with terrorism. The supplier under any award resulting from this RFP must ensure compliance with these
• Banyan Global is not obligated to pay for or reimburse any costs associated with responding to this RFP nor is it obligated to award a contract in response to this RFP.
• Eligible offerors may not be registered to do business in a prohibited country as determined by the U.S. State Department nor in a country on the sanctions list issued by the U.S. Treasury Department Office of Foreign Assets Control.
• Banyan Global expressly reserves the right, at its sole discretion, to cancel the selection process without making a selection.
• The terms and conditions expressed here govern only the selection of the implementation partner. A contract between Banyan Global and the selected supplier shall govern actual performance of the activities contemplated under this RFP.