Reference: GISCOR/FIN/AUDIT/BHA/2025/01

Subject:

Request for Proposal – External Financial Audit for GISCOR BHA Project (August 2024 – August 2025)

Background

Grass Root Initiative for Strengthening Community Resilience (GISCOR) is a non-governmental, non-profit organization working to enhance the resilience of vulnerable communities in Northeast Nigeria through humanitarian and development programs.

GISCOR implements various donor-funded projects, including the Bureau for Humanitarian Assistance (BHA) funded project, aimed at supporting livelihood recovery, WASH, nutrition, and protection services in conflict-affected communities.

To ensure transparency, accountability, and compliance with donor regulations, GISCOR seeks the services of an independent External Auditor to conduct a financial audit for the BHA-funded project covering the period August 2024 to August 2025.

Purpose of the RFP

The purpose of this RFP is to invite qualified and reputable audit firms to submit technical and financial proposals for the annual external audit of GISCOR’s BHA project.

The audit will be conducted in accordance with International Standards on Auditing (ISA) and USAID/BHA financial compliance requirements, with the objective of expressing an opinion on the project’s financial statements and ensuring funds were utilized in line with donor agreements and organizational policies.

Objective of the Audit

The main objectives of the external audit are to:

• Express an independent professional opinion on the project’s financial statements for the period under review.
• Verify that the financial statements present fairly, in all material respects, the financial position of the project in accordance with generally accepted accounting principles.
• Assess compliance with USAID/BHA regulations, grant agreements, and GISCOR’s internal financial and procurement policies.
• Review the adequacy and effectiveness of internal controls.
• Identify any ineligible or questioned costs and provide recommendations for corrective actions.

Scope of Work

The audit will cover all financial activities under the BHA project from 7th August 2024 to 8th August 2025, including but not limited to:

• Review of all income and expenditure transactions.
• Verification of supporting documentation for payments, procurements, and payroll.
• Examination of bank reconciliations, cash management, and fixed asset registers.
• Assessment of compliance with donor cost principles and budget utilization.
• Verification of sub-grantee expenditures (if applicable).
• Review of financial reporting accuracy and timeliness.
• Evaluation of internal control systems and risk management practices.

The auditor will also provide a Management Letter outlining key findings, weaknesses, and recommendations for improvement.

Deliverables

The selected audit firm will be expected to provide:

1. Draft audit report for management review.
2. Final audit report (hard and soft copies) including:
   • Auditor’s opinion on financial statements.
   • Statement of income and expenditure.
   • Statement of assets and liabilities.
   • Notes to the financial statements.
   • Management letter with findings and recommendations.
3. Presentation of findings to GISCOR management (if required).

Duration of Assignment

The audit should be completed within four (4) weeks from the date of engagement, including report submission. Fieldwork is expected to take place at GISCOR Head Office, Maiduguri, Borno State, with possible visits to field offices if necessary.

Auditor Qualifications

The prospective audit firm must meet the following criteria:

• Legally registered and licensed audit firm with at least five (5) years of experience in auditing donor-funded projects.
• Proven experience in conducting audits for USAID/BHA or other international donor-funded projects.
• Qualified personnel with professional certifications such as ICAN, ACCA, CPA.
• Demonstrated understanding of NGO accounting systems and grant compliance frameworks.
• Independence from GISCOR (no conflict of interest).

Proposal Submission Requirements

Interested audit firms must submit:

Technical Proposal

• Firm profile and legal registration documents.
• Detailed methodology and audit approach.
• List of key staff to be assigned (with qualifications and experience).
• Evidence of relevant previous assignments.
• Proposed timeline for completion.

Financial Proposal

• Detailed cost breakdown, including professional fees, travel, accommodation (if applicable), and taxes.

Supporting Documents

• Valid Tax Clearance Certificate.
• Proof of professional affiliation/accreditation.
• At least two (2) references from similar assignments.

Evaluation Criteria

Proposals will be evaluated based on the following criteria:

Criteria	Weight (%)
Understanding of assignment and methodology	30%
Relevant experience and qualifications	25%
Team composition and competence	20%
Financial competitiveness	15%
References and past performance	10%

 Additional Information

GISCOR reserves the right to accept or reject any proposal, cancel the procurement process, or award part of the work without liability or obligation.