***CLOSED*** Call for Expression of Interest – GCF Audit Services
Audit Service:
To conduct a General Audit of the GCF Readiness 8 Accounts and General Assessment of all operations and procedures in accordance with the International Financial Reporting Standards (IFRS) on Auditing, Generally Accepted Auditing Standards (GAAS) or International Standard on Auditing (ISA).
Background:
The Green Climate Fund (GCF) is a multilateral financing mechanism established to support climate action in the Caribbean and by extension in developing countries. The GCF, in fulfilling its mandate, responds to climate change through strategic investments actions that will result in low-emission and climate resilient development. These strategic investments will limit or reduce greenhouse gas (GHG) emission in developing countries, and help vulnerable societies adapt to the unavoidable impacts of climate change. The GCF has made available several windows for financing and technical support for a programmatic approach to engaging the GCF for implementing climate actions. The National Designated Authority (NDA) of Belize to the GCF, the Ministry of Economic Development (MED), applied to the GCF for Readiness and Preparatory Support. This Readiness and Preparatory Support Project titled, “Enhancing Access for Climate Finance Opportunities, through pre-accreditation support to Belize Social Investment Fund (BSIF) and Ministry of Economic Development-Belize and technical support for Belize National Protected Areas System (BNPAS) Entities, Belize – Readiness 8” complements the previously approved and implemented Readiness and Preparatory Funding Support project received by Belize from the GCF. Additionally, this project also seeks to strengthen the country’s capacity to access, manage, disburse, and monitor financing for the purpose of fulfilling the country programme and build Belize’s climate resilience. The Protected Areas Conservation Trust (PACT) is the delivery partner this for Readiness. In collaboration with the NDA of Belize, PACT will execute the activities as set out in the Readiness Proposal approved by the GCF, which includes procuring goods and material, professional services and consultants as is necessary.
Objectives of the Audit Services:
- To conduct a general audit of the GCF Account based on the International Financial Reporting Standards (IFRS), Generally Accepted Auditing Standards (GAAS) or International Standard on Auditing (ISA).
- To Conduct a General Assessment of all operations and procedures to ensure that GCF follows the General Accepted Accounting Principles and IFRS.
- Express an opinion on the financial statements of GCF based on the audit.
- Prepare a financial audit report.
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 misstatement.
- Audit the accompanying statements of the financial position of GCF as at 30th April 2023.
- Audit the related statement of the financial statements inclusive of the comprehensive income, statements of changes in equity, and statements of cash flows from June 2022.
- Examine, on a test basis, the evidence supporting the amounts and disclosures in the financial statements.
- Assess the accounting principles used and significant estimates made by management; and
- Evaluate the overall financial statement presentation.
Tasks of the Auditor:
The Auditor, under the guidance of the Finance & Administration Manager of PACT, will conduct a general audit of the GCF Account and General Assessment of all operations and procedures in accordance with the IFRS on Auditing, Generally Accepted Auditing Standards (GAAS) or International Standard on Auditing (ISA).
Level of Effort:
The period of audit is expected to be no more than fifteen (15) working days. The firm is expected to work closely with the Finance and Accounting Department to gather relevant information and maintain contact with the Finance & Administration Manager.
Expected Outputs/Deliverables:
The expected outputs from the Services are:
- Inception Report – A detailed workplan, methodology and budget for all tasks to be
implemented under this consultancy. - A Draft Audit Report – A digital copy of the draft report for feedback and validation.
- A final Audit Report.
- Inception Report – A detailed workplan, methodology and budget for all tasks to be
Schedule of Payments:
# | Deliverable | Percentage |
|---|---|---|
1 | Upon contract signing, delivery and acceptance of Inception Report | 20% |
2 | Submission and acceptance of first draft report | 40% |
3 | Submission and acceptance of final audit report | 40% |
Qualifications:
PACT is seeking a firm with the following qualifications:
-
- At least five (5) years professional experience in conducting financial audits of projects, or audits of similar nature, type, and complexity, or donor-funded projects.
- 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, 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.
PACT provides equal opportunity to all eligible and qualified entities/individuals. Interested parties shall be invited to submit formal bids. Considerations to be made in the selection of a successful bid shall include, but not limited to:
- Demonstration of the ability to provide high-quality service to PACT.
- Demonstrated experience in undertaking scope of work.
- Conformity to economy and efficiency requirements of PACT.
Expressions of Interest should be submitted no later than 5:00pm on May 16, 2023, to:
Mr. Radin Santos
Procurement Officer
Protected Areas Conservation Trust
Re: Expression of Interest – Development of a Strategic Plan for Belize Social
Investment Fund
Soft Copies should be sent via email to:
Procurementofficer@pactbelize.org and finmanager@pactbelize.org
“Expression of Interest Re: GCF Audit Services”
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PACT is an equal opportunity employer and does not discriminate against protected characteristics (gender, age, sexual orientation, race, nationality, ethnicity, religion, disability).
PACT is not liable for any costs incurred by applicants in submission of their application.