Scope of Work:

The audit firm shall:

• Review financial transactions, including income, expenses, assets, and liabilities, for the project duration.
• Verification of any interest income earned in the bank.
• Physical verification of Activities at field.
• Examine accounting records, ledgers, bank statements, and supporting documentation.
• Assess the adequacy of internal controls and adherence to financial policies and procedures.
• Verify the accuracy of financial statements and reports.
• Identify any instances of non-compliance, fraud, or irregularities.
• Conduct testing and sampling of financial data to ensure completeness and accuracy.
• Review budget allocations and expenditure against approved project plans and funding agreements.
• Assess the reliability of financial systems and software used for recording and reporting.
• Prepare a comprehensive audit report detailing findings, observations, and recommendations.
• List of explanations of deviations of over 30 % in each budget line

Deliverable

The audit firm shall provide the following deliverables:

• An inception report outlining the audit approach, methodology, and timeline.
• Draft audit findings and observations for review and feedback (ML)
• Final audit report incorporating responses to feedback and recommendations.

Evaluation and Selection Process

• Proposals will be evaluated by a selection committee based on the specified criteria. PMS reserves the right to accept or reject any proposal and to negotiate terms with the selected audit firm.

Budget

• The audit firm shall provide a detailed breakdown of costs, including fees, travel expenses and any other applicable charges.

Confidentiality:

• The audit firm shall maintain strict confidentiality of all information obtained during the audit process and shall not disclose any findings or reports without prior authorization from the Client.

Quotations shall: 

• State prices for the requested services in PKR currency, inclusive of Taxes, as applicable;
• contain an all-inclusive fee for the audit (e.g. no extra charges such as for travel, food, incidental etc. will be paid separately.
• Include the cost of Field verification if needed.
• be submitted in the English language, duly signed and contain the point of contact for discussion or clarification of the quotation’s content;

Notes:

• The payment shall be released via cross cheque after the report is approved by the donor.
• The audit will be conducted on Vouchers List document basis. This Vouchers List is a donor document which contains all the transactions. The audit shall commence after the Voucher List is approved by the donor.
• All documents related to the audit are available at PMS Country Office-Islamabad. However, the field verification can be done in the project area.
• Tax will be deducted as per Gov Laws.
• Report has to be completed on or before 26^th March 2025 for first review from the donor.

How To Apply:

Please share sealed envelope at H-333. Street # 29 G 14/4 addressing procurement department.