TERMS OF REFERENCE EXTERNAL
AUDIT FOR SPECIFIC PROJECT
Caritas Bosnia and Herzegovina requests external audit agency to conduct audit of the project ELBA 2 – Developing Social Economy in South East Europe (SEE), Contract number: PI160164, leaded by Caritas Italiana office in BiH and implemented by 8 partners in SEE (Caritas organizations from: Albania, Bosnia and Herzegovina, Bulgaria Greece, Kosovo, Macedonia, Montenegro, and Serbia).
Elba 2 project’s administration and financial management is conducted by:
Caritas Bosnia and Herzegovina, Mehmed bega Kapetanovića Ljubušaka 6, BiH – 71000 Sarajevo.
ELBA 2 project is financed by Secours Catholique/Caritas France, 106 rue du Bac, Paris, 7th arrondissement, France with amount of 170.000,00 EUR.
- BACKGROUND OF THE PROJECT
Project duration: 01.01.2017. – 31.12.2018.
Project budget: 390.000,00 EUR
Project lead: Caritas Italiana
Project partners: Caritas organizations from: Albania, Bosnia and Herzegovina, Bulgaria, Greece, Kosovo, Macedonia, Montenegro, Serbia.
Project administration and financial management: Caritas BiH
- to increase the knowledge about Social Economy in South East Europe;
- to develop the Social Enterprises in South East Europe;
- to develop a proper ecosystem for Social Economy, by animating communities in South East Europe;
- to lobby toward the local institutions for the approval of adequate laws on Social Economy.
Main project activities:
- Educational Program for Local Coordinators
- Educational Program for Social Entrepreneurs
- Educational Program for Local Churches
- Feasibility Study for the Antipoverty School/Educational group activities
- Accompaniment and support to existing Social Enterprises
- Technical support and counseling to existing Social Enterprises
- Economical support (grants) for Social Enterprises
- Communication for Elba 2 (web page)
- FINANCIAL / BOOKKEEPING PROCESS OF THE PROJECT
Caritas BiH uses internal bookkeeping system and internal staff members for administrative and financial procedures. All financial documents are kept internally.
Project partners submitted to Caritas BiH financial reports and documents related to payment and other administrative issues. Those reports are composed by totals of expenditures per month per budget lines, with scanned copies of invoices and proofs of payment.
- OBJECTIVES AND TASKS OF THE AUDIT
The objective of audit is to give a professional opinion on the fairness of the financial report, to verify expenditures within project and ensure that expenditures are in relation with project budget. The audit agency should verify sound financial management and accuracy of bookkeeping in terms of their regularity.
- SPECIFIC AUDIT TASKS
The auditor is responsible for performing any diligence necessary to give his opinion. However, particular attention should be given to the following items:
- Verify that all expenses are recorded in project bookkeeping and are backed by original invoices and proofs of payment (scanned copies in case of partners documentation).
- Verify bookkeeping account, payments in the national currency and account management according to the local legislation.
- Verify compliance of expenses with budget items.
- Check on the personnel expenditures and social welfare contributions.
- Check if financial transfers (bank, cash) are understandable and in line with reported expenditures.
- Check the disposal balance at the end of the project.
- Check the accuracy of the exchange rate used to convert the financial report in euro.
The audit report is to be written in English and sent to Caritas Bosnia and Herzegovina, to Mrs. Ivona Vidačković, project administrative and financial officer.
Audit report shall consist following information:
- - Project number and name
- - Project implementator and partners
- - Reporting period and currency
- - Exchange rate in financial report
- - Total amount of budgeted income and expenditures
- - Total amount of actual income and expenditure
- - List of not accepted vouchers with comments
- - Closing balance according income and expenditures
- - Auditor’s name, position, address, phone, fax and e-mail
- - Date, auditor’s signature and authorization
- TIME FRAME
The audit process shell be implemented until 29.3.2019. Draft report should be sent to Caritas Bosnia and Herzegovina until 08.03.2019. and final report until 15.03.2019.
- REQUIRED EXPERTISE FOR AUDIT COMPANY
- the expert auditor must not have been involved in the operation’s accounting
- the expert auditor must not personally be connected in any way with the organisation being audited
- the expert auditor must be an audit company registered in Bosnia and Hercegovina
- CONTACTS AND DEADLINE2
Please deliver your offers for external evaluation until 26th October 2018.
For any information needed please contact:
Caritas Bosnia and Herzegovina,
Mehmed bega Kapetanovića Ljubušaka 6,
BiH – 71000 Sarajevo
Ivona Vidačković, project administrative and financial officer