Background

The Green Climate Fund (GCF) is a multilateral financing mechanism established to support climate action in the Caribbean and, by extension, developing countries. In fulfilling its mandate, the GCF responds to climate change through strategic investments in actions that will result in low-emission and climate-resilient development. These strategic investments will limit or reduce greenhouse gas (GHG) emissions in developing countries and help vulnerable societies adapt to the unavoidable impacts of climate change. Several windows for financing and technical support for a programmatic approach are available to engage the GCF for the implementation of climate actions.  These include funding windows for mitigation and adaptation, the Private Sector Facility, the Readiness and Preparatory Support Program, a REDD+ results-based payment program, and an Enhanced Direct Access Program designed to enhance funding access by sub-national, national, regional, public, and private entities. 

In 2018, the GCF accredited the Protected Areas Conservation Trust (PACT) as a national Direct Access Entity. This role requires PACT to take on several responsibilities associated with the delivery of impactful projects within the priorities of the Fund, of PACT, and of Belize’s National Climate Change Policy & Plan, and related frameworks. In collaboration with the Ministry of Economic Development (MED), Belize’s National Designated Authority (NDA) to the GCF, PACT has received approval for financing under a Readiness and Preparatory Support Project titled, “Strengthening technical and institutional capacities of Galen University, BLPA, PACT, BNPAS and the Government of Belize to access Climate Finance.”  

This project is to be executed over an 18-month implementation period. It will contribute to reducing Belize’s vulnerability to the impacts of climate change by facilitating the coherent integration of climate change adaptation and mitigation measures into the public and private sectors, through developed programs and projects. Belize will create partnerships with the public sector to build resilient livelihoods and minimize climate vulnerabilities of communities; and conserve and increase the resilience of the agriculture sector, academia, NGOs, Government, and other relevant sectors.   

In collaboration with the Ministry of Economic Development as the National Designated Authority of Belize, PACT will execute the activities as set out in the Readiness Proposal approved by the GCF, which include procuring goods and material, professional services and consultants as is necessary.

Objectives of the Audit Services

To conduct two (2) general audits over a specified period of the BLZ-RS-013 Account based on the International Financial Reporting Standards (IFRS), Generally Accepted Auditing Standards (GAAS), or International Standard on Auditing (ISA).

1. To conduct a General Assessment of all operations and procedures to ensure that BLZ-RS-13 follows the General Accepted Accounting Principles and IFRS.
2. Express an opinion on the financial statements of BLZ-RS-13 based on the audit.
3. Prepare a cash-basis financial audit report for each audit period.

Scope of the Audit Services

The services will include but not be limited to the following activities:

1. Plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
2. Audit 1: Audit the accompanying statements of the financial position of BLZ-RS-13 as of February 28^th, 2025.
3. Audit 1: Audit the related statement of the financial statements inclusive of the comprehensive income, statements of changes in equity, and statements of cash flows from August 2024.
4. Audit 2: Audit the accompanying statements of the financial position of GCF as of February 7^th, 2026.
5. Audit 2: Audit the related statement of the financial statements inclusive of the comprehensive income, statements of changes in equity, and statements of cash flows from March 1^st, 2025.
6. Examine, on a test basis, the evidence supporting the amounts and disclosures in the financial statements.
7. Assess the accounting principles used, and significant estimates made by management.
8. Evaluate the overall financial statement presentation.

Qualifications

PACT is seeking a firm with the following qualifications:

1. At least five (5) years professional experience in conducting financial audits of internationally funded projects, or audits of similar nature, type, and complexity, or donor-funded projects.
2. Have adequate relevant professional and educational qualifications, or able to provide audit staff with adequate qualifications, experience, and competence.

Procurement Details

Interested parties are asked to submit a signed letter of interest and a detailed proposal for the deliverables. The proposal should include methodology, work schedule, team composition with qualifications and relevant years of experience, quality control and quality assurance. A financial proposal shall also be submitted.

Expressions of Interest including Technical and financial proposal should be submitted no later than 5:00 p.m. on March 7^th, 2025, to:

Mr. Radin Santos
Procurement Officer
Protected Areas Conservation Trust
Re: Expression of Interest Re: BLZ-RS-013 Audit Services

Soft Copies should be sent via email to: procurementofficer@pactbelize.org and projectcoordinator@pactbelize.org