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Provision of Audit Services to KRCS Regional Offices

KenyaTenders notice for Provision of Audit Services to KRCS Regional Offices. The reference ID of the tender is 87439590 and it is closing on 25 Aug 2023.

Tender Details

  • Country: Kenya
  • Summary: Provision of Audit Services to KRCS Regional Offices
  • KET Ref No: 87439590
  • Deadline: 25 Aug 2023
  • Financier: Other Funding Agencies
  • Purchaser Ownership: Government
  • Tender Value: Refer Document
  • Notice Type: Tender
  • Document Ref. No.: PRF13607
  • Purchaser's Detail:
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  • Description:
  • Request for proposals are invited for Provision of Audit Services to KRCS Regional Offices and County Branches (Northeastern, Upper Eastern and North Rift Regions) Closing Date: 25 Aug 2023 Type: Consultancy REQUEST FOR PROPOSALS PROVISION OF AUDIT SERVICES TO KRCS REGIONAL OFFICES AND COUNTY BRANCHES (NORTHEASTERN, UPPER EASTERN AND NORTH RIFT REGIONS) DOCUMENT RELEASE DATE: 15th August 2023 LAST DATE OF RECEIPT OF PROPOSALS: 25th August 2023 TIME: 11:00HRS TENDER NUMBER: PRF13607 SUBMISSION METHOD EMAIL: tenders@redcross.or.ke TENDER OPENING VENUE: Teams meeting link to be shared. TENDER OPENING TIME: 12:00 Noon Table of Contents 1.0. Introduction. 3 2.0. Request for Audit services. 3 3.0. Scope of the Assignment 3 4.0. Deliverables. 5 5.0. Format of RFP Response and Other Information for Bidders. 5 1.0. Introduction Kenya Red Cross Society (KRCS) is the largest humanitarian organization in Kenya. Its vision is to be a leading humanitarian organization sustainably promoting the well-being, health and resilience of communities. KRCS is a humanitarian relief organization created through an Act of Parliament, Cap 256 of the Laws of Kenya of 21st December 1965. As a voluntary organization, the Kenya Red Cross operates through a network of 47 branches, eight regional offices and volunteers throughout the country. The Society is governed by the National Executive Committee (NEC), which provides supervision and is the policy organ of the Society. The NEC has a number of committees which include finance committee and the Audit and Risk Committee. 2.0. Request for Audit services In, line with KRCS constitutional provisions Article 57, the Society has a responsibility to have the accounts of regions and branches audited by a firm of qualified certified accountants. The audit reports will be presented during branch and regional AGM-s. This Request for Proposals (RFP) document is intended to lead to identification of a ICPAK registered Audit Firms to provide external audit services for the Society-s three (3) regions i.e., Northeastern, Upper Eastern and North rift and its county branches (See annex 1 with list of regions and branches) contract for a financial audit for the year ending 31st December 2023. It is expected that the initial contract shall be for one (1) year to audit work performed Jan 1, 2023 - Dec 31, 2023. Based on satisfactory performance and continuation of need, the contract may be renewable in one (1) year increments for up to five years. The audit of the Society-s donor funded projects and head office unrestricted funds is not within the scope of work in this TOR. This document constitutes the formal Request for Proposals (RFP) and is being availed to bidders on the KRCS website; www.redcross.or.ke 3.0. Scope of the Assignment Audit of Region and County branches FY 2023 The financial audit will be carried out in accordance to International Standards on Auditing. The auditor will therefore: Have a full understanding of the society-s goals and operations. Obtain sufficient audit evidence to substantiate in all material respects the accuracy of the information contained in the Financial Statements. Obtain an understanding of internal controls and perform tests of internal control over the Society-s branches and regional offices. Perform procedures to determine whether the Society-s branches and regional offices have complied with the relevant guidelines, laws and regulations that could have direct and material effect on the Society. Issue Auditor-s opinion in the financial statements for each of the county branches and region Submit any consolidation requirements to the group auditors which will include the branch financial audit reports, management letters and any other deliverables. Perform any other special audits as required by the society on a request basis. Detailed Audit requirements It is expected that upon completion of the audit field work, the auditor will prepare and submit the audited financial statements. The financial statements are to be audited as per ISA-s and have all the necessary disclosures in place. The deadlines for the audited financial statements are noted below; DRAFT audited accounts are expected for the KRCS County branches by 15th March 2024 and FINAL signed audited financial statements are due at the county offices by the 31st March 2024 DRAFT audited accounts are expected for the KRCS Regional offices by 15th March 2024 and FINAL signed audited financial statements are due at the branches by the 31st March 2024. Final County and regional level audit reports will be shared with the Society-s institutional auditors by the 31st March 2024 for further consolidation of the Society-s financial statements. The auditor will attend all the county and regional AGMs to read the audit opinion and provide any clarifications required during the meetings on the audited accounts. Respective County branch AGM-s will be held in April whereas regional office AGM-s will be held in May. You will be advised on the AGM dates for planning and attendance. The auditor will also present a management letter on areas of improvement. This report will highlight risks (High, medium, Low), audit observations, root causes, recommendations and management responses. A follow up of the previous year audit observations will also be assessed and noted in the report. The audits will only focus on locally raised resources at the county level and exclude donor funded projects coordinated through KRCS Headquarters. The auditor will attend Field Audit Entry and exit meetings and dates will be advised accordingly. The auditor is expected to share the draft audit findings and draft financial statements during exit meetings. The period under audit is 1st January 2023 to 31st December 2023. Field work commencement dates for the audits will be agreed with yourselves and regional teams. However, it is expected that this should not be later than early February 2023. 4.0. Deliverables The auditor is expected to perform an audit of the three KRCS regional offices and respective county branch offices (Entities to be audited included in Annex 1). Share the Consolidated workings of county and regional audit financials and other deliverables expected. Financial audit reports with audit opinions for each county and each regional office. Management letter highlighting weaknesses for each county branch and regional office including follow up of previous issues. 5.0. Format of RFP Response and Other Information for Bidders 5.1 The overall summary information regarding the audit services for KRCS regions and branches is given in section 2 -Request for audit services. The bidder shall include in their offer any additional services or items considered necessary for the successful completion of the audit. 5.2 Proposals from bidders should be submitted in two distinct parts, namely technical proposal and financial proposal and these should be clearly marked Tender number. TENDER NUMBER: PRF13607 PROVISION OF AUDIT SERVICES FOR KRCS REGIONAL AND COUNTY BRANCH OFFICES (NORTHEASTERN, UPPER EASTERN AND NORTH RIFT REGIONS) Bidders should provide a technical and financial proposal in two separate folders clearly Marked β€œTechnical Proposal + Name of consultant” and β€œFinancial Proposal + Name of consultant” both of which should then be sent to tenders@redcross.or.ke with the subject reading β€œTender No. PRF13607: Provision of audit services for KRCS Regional and County Branch Offices (Northeastern, Upper Eastern and North Rift Regions)”. 3.1.3. The Technical Proposal should contain the following: Introduction: description of the firm, firm-s qualifications, profile, expertise, number of partners, number of staff, field offices and statutory compliance. Mandatory documents must accompany the proposal and tenders without mandatory documents will not be evaluated. The mandatory documents are; ICPAK firm registration certificate ICPAK Practicing certificate for partners. Valid KRA tax compliance certificate Back ground: Understanding of the engagement requirements, objectives and scope of work Proposed methodology - Indicate approach to the audit assignment, proposed audit procedures Firms experience in undertaking assignments of similar nature and experience for other clients (Table with: Name of organization, name of assignment, duration of assignment (Dates), nature of assignment and reference person contacts Proposed team composition- Indicate the lead team members that will be responsible for undertaking the assignment, qualifications and experience in undertaking similar assignments Name of team member Highest educational qualification Number days to involved of be Years of experience related to the task Roles in this assignment Work plan (Gantt chart of activity and week of implementation) References- (Attach at least 5 reference letters from other clients other than KRCS) The Financial proposal shall clearly indicate the total cost of carrying out the audit engagement and should be presented in the financial template as shown below. The bidder shall only quote as shown per table below. Prices should be exclusive of Value Added Tax (VAT) as Kenya Red Cross Society is exempt from taxes. Quote should be split per region that the firm is bidding for. Item County Branch/ Region X Region Y Total cost (Kshs.) Audit fee Other costs - to be itemized (disbursements) e.g. Administrative costs, logistical costs, etc. Total cost A three-stage procedure will be adopted by the KRCS for evaluating the proposals as shown below; STAGE 1 -TECHNICAL EVALUATION Review of Mandatory documents as listed above Firm-s general experience in the field of assignment Understanding of the audit services requested Proposed Methodology Proposed work pla
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Provision of Audit Services to KRCS Regional Offices - Kenya Tender

The KENYA RED CROSS SOCIETY, a Government sector organization in Kenya, has announced a new tender for Provision of Audit Services to KRCS Regional Offices. This tender is published on KenyaTenders under KET Ref No: 87439590 and is categorized as a Tender. Interested and eligible suppliers are invited to participate by reviewing the tender documents and submitting their bids before the deadline on 2023-08-25.

The estimated tender value is Refer Document, and full details, including technical specifications and submission requirements, are provided in the official tender documents. Ensure all submissions meet the criteria outlined to be considered for evaluation.

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