Call for External Audit Services

TRAC Trust SCIO – Ethiopia Country Office

About TRAC Trust SCIO

TRAC Trust SCIO is a UK-based international non-governmental organization (INGO), recently registered and operating in Ethiopia (Registration Number 6987) in accordance with the Federal Democratic Republic of Ethiopia’s Civil Society Organizations Proclamation No. 1113/2019. TRAC Trust SCIO’s overall objective is to support development initiatives that promote sustainable community well-being and resilience in Sexual, Reproductive, and Maternal Healthcare Services.

To ensure transparency and compliance with Ethiopian regulations as well as international accounting standards, TRAC Trust SCIO is inviting eligible and competent audit firms to submit proposals for conducting the annual audit of its financial statements for the fiscal year 2024.

Scope of Services

Annual Audit

Perform an audit of TRAC Trust SCIO’s financial statements and related documentation for the fiscal year 2024.

The audit must be conducted in accordance with International Public Sector Accounting Standards (IPSAS), the requirements of the Authority for Civil Society Organizations (ACSO), and the Accounting and Auditing Board of Ethiopia (AABE).

Financial Statements Preparation

• Prepare IPSAS-compliant financial statements for the review and approval of TRAC Trust SCIO.

Audit Report

• Provide a comprehensive management letter that highlights any findings, observations, and recommendations to strengthen internal controls and financial management.
• Submit the final audit report by the agreed-upon timeline.

Eligibility and Requirements

• Interested audit firms must fulfil the following criteria:

Legal Requirements

• Valid and renewed trade license for the current Ethiopian fiscal year.
• Registration certificate from the Accounting and Auditing Board of Ethiopia (AABE).
• TIN and VAT registration certificate.

Technical Expertise

• Demonstrated experience in auditing international NGOs and/or development organizations.
• Proven track record of preparing IPSAS-based financial statements for at least three years.
• Availability of qualified and experienced audit team members.

Audit Approach and Timeline

• A clear outline of the proposed methodology and audit plan.
• Proposed timeline to complete the audit and finalization of IPSAS-based financial statements.

Audit Fee

• A detailed fee schedule, indicating whether it is inclusive or exclusive of VAT.

Proposal Requirements

• Interested audit firms should submit both a Technical and Financial proposal containing:

Firm Profile

• Brief background of the firm, including organizational structure and years of experience.
• Profiles/CVs of key personnel to be assigned to the engagement.

Technical Proposal

• Detailed audit methodology and approach, indicating how IPSAS compliance will be ensured.
• Work plan and timeline for completing the assignment.
• List of at least one reference from international NGOs or similar organizations audited recently.

Financial Proposal

• Breakdown of costs, including professional fees, reimbursable expenses, and VAT status.

Submission Guidelines

• Proposals must be submitted in sealed envelopes or via email by the stated deadline.
• TRAC Trust SCIO reserves the right to accept or reject any or all proposals without assigning any reason thereof.
• Only shortlisted firms will be contacted for further discussion or clarification.

How To Apply

Deadline for Submission:

Please submit your proposal on or before 20 January 2025.

TRAC Trust SCIO Office, Hawelti Sub city, March 8 MCH Center Building, First Floor, Behind Planet Hotel, Mekelle, Tigray, Ethiopia 

Email Address: hale.teka@maternalhealthafrica.org

For any inquiries, please contact:

Tel: +251914522284

Email: hale.teka@maternalhealthafrica.org

We look forward to receiving your proposals and partnering with a reputable audit firm to ensure the highest standards of accountability and transparency.