Call for Expression of Interest – BNCF Audit
Background:
The Belize Nature Conservation Foundation, (BNCF), formerly the PACT Foundation, was officially established in 2004, through the Tropical Forest Conservation Agreement (TFCA) of September 28, 2001, among the Government of Belize, The Nature Conservancy, Toledo Institute for Development and Environment, Programme for Belize, Belize Audubon Society, and the Protected Areas Conservation Trust. The TFCA Agreement resulted from the Debt-for-Nature Swap Agreement between the Government of Belize and the Government of the United States of America of August 2, 2001, brokered, and purchased by The Nature Conservancy. Through the Debt-for-Nature-Swap, The Government of the United States of America prepaid and cancelled US 8.58M owed by the Government of Belize to the Government of the USA in exchange for a commitment by the GOB to fund forest conservation in Belize. As one of the four beneficiaries of the Debt-for-Nature Swap, from 2001 to 2011, the BNCF has received BZ $2,724,000 via the BNCF Endowment Fund, to fund registered, non-profit organizations that manage terrestrial protected areas to carry out projects for the conservation, maintenance, and restoration of tropical forest in Belize, through one or more of the following activities:
- Establishment, restoration, protection, and maintenance of parks, protected areas, and reserves.
- Training programs to increase scientific, technical, and managerial capacities of individuals and organizations involved in conservation efforts.
- Restoration, protection, or sustainable use of diverse animal and plant species.
- Research and identification of medicinal uses of tropical forest plant life to treat human diseases, illnesses, and health-related concerns.
The BNCF has entered into a Management Agreement with the Protected Areas Conservation Trust (PACT) for the day-to-day management of the Foundation’s grant program. The Foundation has also recently adopted a Communications Strategy & Plan with the objectives to:
- Increase awareness of the work and achievements of BNCF and promote greater knowledge among key stakeholders and the public.
- Promote the Foundation’s mandate and areas of work.
- Foster greater information and knowledge exchange with key stakeholders and development partners in the conservation sector.
Objective of the Audit Services
- To Conduct General End of Year Audit of all BNCF Accounts based on the International Financial Reporting Standards (IFRS), Generally Accepted Auditing Standards (GAAS) and International Standard on Auditing (ISA).
- To Conduct a General Assessment of all operations and procedures to ensure that BNCF follows the General Accepted Accounting Principles and IFRS.
- Express an opinion on the financial statements of BNCF based on the audit;
- Prepare yearly financial audit reports over the 3 years of the project.
The services will include but not be limited to the following activities:
- Plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material
- Audit the accompanying statements of the financial position of BNCF as at 31 March 2025, 31 March 2026 and 31 March 2027.
- Audit the related statement of the financial statements inclusive of the comprehensive income, statements of changes in equity, and statements of cash flows as at 31 March 2025, 31 March 2026 and 31 March
- Examine, on a test basis, the evidence supporting the amounts and disclosures in the financial
- Assess the accounting principles used and significant estimates made by management; and
- Evaluate the overall financial statement
Qualifications and Experience
- At least five (5) years professional experience in conducting financial audits of projects, or audits of similar nature, type, and complexity, or donor-funded
- Have adequate relevant professional and educational qualifications, or able to provide audit staff with adequate qualifications, experience, and
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, quality control and quality assurance. The proposal shall also describe the composition of the firm and relevant years of experience. A financial proposal shall also be submitted.
Expressions of Interest should be submitted no later than 5:00pm on March 14, 2025, to:
Mr. Radin Santos
Procurement Officer
Protected Areas Conservation Trust
Re: Expression of Interest – BNCF Audit Services
Soft Copies should be sent via email to:
