Provision of External Audit Services

• Country: Rwanda
• Summary: Provision of External Audit Services
• RWT Ref No: 73071625
• Deadline: 24 Oct 2022
• Financier: Self Financed
• Purchaser Ownership: Government
• Tender Value: Refer Document
• Notice Type: Tender
• Document Ref. No.:
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• Description:
• Tenders are invited for Provision of External Audit Services for Visionfund Rwanda. Deadline: Monday, 24/10/2022 17:00 Tender Document Terms of Reference for the provision of External Audit Services for VisionFund Rwanda Background VisionFund - World Vision International VisionFund International is Financial Empowerment from World Vision, a Christian humanitarian, development and advocacy organization devoted to improving the lives of children, families and their communities around the world. Working together as part of World Vision - VisionFund enables communities to increase economic activity, access clean water, education and healthcare, benefit from improvements to nutrition, and provide the foundations for local economies to flourish. VFR started its operations in 1997 as World Vision Rwanda-s department and later in 2004 got the central bank licence to operate as a deposit taking microfinance. Since its incorporation in 1997, VFR has risen to be one of the best practice microfinance programs in Rwanda: VisionFund Rwanda has a gross Portfolio of $2,629,646 with 29,826 borrowers and more than 40,000 savers as at 30 September 2022 through its network of 8 Branches. VisionFund Rwanda is governed by: Board of Directors; Regional Office/ Directors and CEO leading the Executive Management Scope of the Requirements VisionFund Rwanda is looking to appoint an External Auditor to provide a high quality, value for money service to meet the needs of the organization, comply with regulatory requirements, who can demonstrate an understanding of our needs together with the knowledge and experience of the industry to deliver our objectives. The contract will be for an initial period of three years covering the financial period commencing on 1 January 2022 and will be subject to annual appointment by VFR Board of Directors and Shareholders. Subject to satisfactory performance of the services by the successful Firm, the term may be extended, if mutually agreeable, for an additional two (2) year period. Tender Process Timetables The timetable for the tender process is as follows: October 13, 2022: Publication of Tender October 18, 2022: Closing date for clarification queries October 24, 2022: Closing date for receipt of Tenders October 28, 2022: Tender short listing 02nd and 03rd November 2022 Supplier presentation/clarification meeting November 15, 2022 Final notification and contract award Although VisionFund Rwanda will use reasonable endeavors to adhere to the above timetable, it reserves the right to vary it. Information required to be submitted in the tender Information supplied to Tenderers by VFR (whether in the invitation or otherwise) is given only for general guidance in the preparation of the tender. Tenderers must satisfy themselves by their own investigation as to any further information they may require. VFR accepts no responsibility for any loss or damage of any whatever kind and howsoever caused arising from the use by tenderers of such information. The external audit service required will include, but not limited to the planning, management and delivery of external Audit. The reporting on external audit progress to Finance and Management team, including the attendance to Board of Directors and Shareholders meetings. You will need to provide sufficient detail for us to understand how your proposal will work and specifically how you would achieve the stated outcomes within this specification. Your tender submission should include the following: The fees for the first year of the contract period specifying what is included in the charges. Fees for any additional advice or services that may be required from time to time An indication of the level of fees that would be charged in the subsequent periods of the contract Profiles of senior staff such as the Audit Partner and Manager and supporting personnel who would conduct the external audit including the location of staff An explanation of the external audit approach that would be used and the firm-s policy in relation to maintenance of continuity of staff involved in audit. Details of relevant experience providing similar services to comparable organizations Details of other relevant services that your firm might propose to provide, but which are not part of the audit, and, where appropriate, the fee basis for these services The letter indicating names of the person who will be authorised to make representations for the firm, their title and telephone number. The person signing the covering letter must be authorised to bind the firm. Audit Timetable for the year 2022 The proposed Audit timetable for the year 2022 audit is as follows: Key Actions Date First draft accounts 25-Jan-2023 Audit field work 8- 26 February 2023 Clearance meeting 28-Feb-2023 Board of Directors presentation 12 March 2023 (provisional) Shareholders- approval and signing of accounts 16 March 2023 (provisional) Please note that subsequent years audits time tables will also follow the same dates and months. Evaluation Criteria After the proposals have been received and initial evaluations have taken place, a shortlist of firms will be identified who will be asked to make a presentation to the Senior Management including a question and answer session. Tenders will be assessed on the following criteria: Experience of providing comprehensive external audit services to similar organizations The quality and experience of the proposed external audit team The suitability of the proposed audit approach Value for money, particularly the added value that the audit will bring to the organization. Tender Conditions Alterations to Tender At any time prior to the deadline for the receipt of bids, VFR may modify the tender documents. Any such amendment will be notified in writing or by email to all prospective bidders who have received the tender documents and will be bidding on them. You should acknowledge that the amendments have been received. In order to give you reasonable time in which to take the amendment into account in preparing your bid, VFR may, at its discretion, extend the deadline for the receipt of the tender. None of the tender document formats and wording may be altered by the Tenderer. Any modification that the Tenderer may consider necessary is to be detailed in a separate covering letter accompanying the tender. Tenderers are responsible for ensuring that they have completed the tender fully and accurately and that prices quoted are arithmetically correct. Any amendments/corrections made by the Tenderer on their bid should be initiated by them. Acceptance of Tenders By issuing this invitation VFR does not bind itself to accept the lowest or any tender. It also reserves the right not to award a contract or to offer more than one contract. Costs of Bidding Tenderers shall bear all their own costs and expenses incurred in the preparation and submission of their bids and VFR bears no responsibility or liability for those costs, regardless of the outcome in relation to individual bids. Bid Prices VFR expects that the prices/rates quoted for the services shall be fixed for the duration of the contract and not subject to any variation unless such is called for in the tender documents. Conflict of Interest Bidders for any service where a conflict of interest may exist or arise must inform VFR and submit proposals for avoiding such conflicts. This is particularly important where the conflict is likely to result in bias in the execution of the service. Documentation The Tenderer is expected to examine all instructions, terms and specifications in the Invitation to Tender documents and check they are complete in all respects. Tenderers are requested to answer all the questions raised in the tender document and in the order laid out. Agreement You are further advised that nothing herein or in any other communication made between VFR and any other party, or any part thereof, shall be taken as constituting a contract, agreement or representation between VFR and any other party (save for a formal award of contract made in writing) nor shall they be taken as constituting a contract, agreement or representation that a contract shall be offered in accordance herewith or not at all. Confidentiality The Tenderer shall treat these documents and the information contained within as private and confidential. You must not disclose your bid prices, or even an approximation, prior to the deadline for receipt of the bids except in confidence to an insurance company or broker requiring such in connection with the bid. You must not try to obtain any information about competitors- bids or proposed bids nor make any arrangement with anyone else about whether or not they should bid. Questions Any questions or correspondence relating to the tender or the submission of bids should be submitted in writing or email to info@vfcrwanda.rw Bona-fide tendering certificate Tenderers are required to complete and return the bona-fide tendering certificate provided in Annex1. Contract Award and Notification VFR will notify acceptance in writing to the successful Tenderer that they have been accepted and will notify each unsuccessful Tenderer as soon as is reasonably practicable. Submission of Tenders The bids must be received by VFR, no later than 17:00 on 24th October 2022. The tender reference “External Audit Service Tender” should be clearly identifiable on all correspondence (including envelopes and Emails) to ensure that no bids are opened prior to the deadline. Late bids will not be accepted. Electronic bids should be emailed to: info@vfcrwanda.rw All tenderers are required to submit four hard copies of their bid in addition to any electronic version. Hard copies b
• Documents:

 Tender Notice