TERMS OF REFERENCE (TOR) FOR THE FINANCIAL AUDIT OF HEALTH ACCESS CONNECT FOR THE PERIOD 2023-2024
Background
Health Access Connect is a non-governmental organization committed to linking remote communities to health care. To ensure transparency, accountability, and compliance with financial regulations, the organization seeks to engage an independent auditor to carry out the financial audit for the fiscal year 2023-2024.
2. Objectives of the Audit
The primary objective of the audit is to obtain an independent opinion on the financial statements of Health Access Connect for the year ending June 2024. The audit will assess the fairness, accuracy, and reliability of financial reports, ensuring compliance with:
International Financial Reporting Standards (IFRS) or Generally Accepted Accounting Principles (GAAP), as applicable.
Donor-specific financial reporting requirements.
Local financial and regulatory requirements.
Internal financial policies and procedures of the organization.
3. Scope of Work
The selected auditor will be responsible for:
Examining financial statements, including the balance sheet, income statement, cash flow statement, and notes to the accounts.
Assessing internal control systems to identify strengths and weaknesses.
Reviewing accounting records and supporting documentation to verify accuracy and completeness.
Evaluating compliance with applicable laws, regulations, and donor requirements.
Conducting risk assessment and identifying any areas prone to fraud or mismanagement.
Auditing expenditures to ensure they align with approved budgets and funding agreements.
Providing recommendations for financial management improvements where necessary.
4. Deliverables
The auditor is expected to provide the following reports:
Audit Report: A comprehensive report detailing the audit findings, including the auditor's opinion on the financial statements.
Management Letter: A document highlighting weaknesses in internal controls, financial risks, and recommendations for improvement.
Compliance Report: A review of adherence to donor guidelines and financial regulations.
5. Auditor Qualifications and Experience
Eligible audit firms must:
Be duly registered and licensed to practice audit services in Uganda
Have extensive experience in auditing non-profit organizations, donor-funded projects, or similar entities.
Have a team of qualified professionals with expertise in financial auditing, risk assessment, and regulatory compliance.
Demonstrate a thorough understanding of financial management in the non-profit sector.
Provide evidence of previous audits conducted for comparable organizations.
6. Audit Duration and Timeline
The audit is expected to be conducted within the following timeline:
Start Date: - 23/04/2025
Draft Report Submission:- 23/05/2025
Final Report Submission:- 30/05/2025
Any delays in meeting these timelines should be communicated in advance, with valid justifications.
7. Submission of Proposals
Interested audit firms are required to submit a proposal including:
A company profile detailing experience and expertise.
Methodology and audit approach.
Team composition and CVs of key personnel.
Proposed timeline and work plan.
Financial proposal, including audit fees and payment terms.
8. Selection Criteria
The selection of the auditor will be based on:
Demonstrated experience in auditing non-profits and donor-funded projects.
Understanding of financial reporting frameworks applicable to the organization.
Cost-effectiveness of the financial proposal.
Technical competence and capacity to deliver within the specified timeline.
9. Contact Information
For any inquiries and submission of proposals, please contact: procurement@healthaccessconnect.org. and copy in joel.agaba@healthaccessconnect.org. – Health Access Connect, Plot 1312 Old Bukoto – Kisasi Road
10. Deadline for Submission
All proposals must be submitted by 18th April ,2025 at 5 PM to the address mentioned above.