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საქართველოს ბუნების მკვლევართა კავშირი „ორქისი"
Georgian Society of Nature Explorers "Orchis"

Georgian Society of Nature Explorers “Orchis” (GSNE “Orchis”) wishes to engage the services of an audit firm for the purpose of auditing the project Keep Georgia Tidy (Sida Contribution No: 13312-GSNE “Orchis”) as stipulated in the agreement between Georgian Society of Nature Explorers “Orchis” (GSNE “Orchis”) and Keep Georgia Tidy, for the period: 2021 July 1 to 2022 June 30, as submitted to Keep Georgia Tidy and to express an audit opinion according to ISA 800/ISA 805.

The audit shall be carried out by an external, independent and qualified auditor. The audit shall be carried out in accordance with international audit standards issued by IAASB [1] . In addition, an assignment according to International Standards on Related Services (ISRS) 4400 shall be carried out. See the ToR for more details.

The proposal shall present the detailed breakdown of fees, dates of providing services and other relevant conditions. Please indicate prices in EURO (Excluding VAT) / The proposal shall be in English.

Interested applicants should present proposals before July 28, 2022, from 10:00 a.m. – 6:00 p.m. local time to Mrs. Manana Gikoshvili, Office Manager of GSNE “Orchis”. Contact details: Mob (+995 599) 77 52 37, Tel.: (995 322385199); E-mail: gikoshvili73@yahoo.com; orchisge@yahoo.com.  

 

 

TERMS OF REFERENCE FOR THE ANNUAL AUDIT OF THE PROJECT “KEEP GEORGIA TIDY”, SUPPORT TO THE GEORGIAN SOCIETY OF NATURE EXPLORERS “ORCHIS” (GSNE “ORCHIS”)

 

Introduction

Georgian Society of Natural Explorers “Orchis” (GSNE “Orchis”) is a non-governmental, non-profitable organization that was founded in 1997 with the aim to protect the environment and involvement in the elaboration and implementation of environmental protection measures to create a better and safer environment for the society. The Mission of the GNSE “Orchis“is to save the nature of Georgia, through creating a better and cleaner environment for the Georgian Society. Main strategic directions and activities of the GSNE “Orchis” are scientific-based studies on climate change issues related to mitigation and adaptation; conservation of biodiversity and eco-systems, support introduction of waste management best practices based on EU standards and requirements; dissemination of information on waste minimization and recycling, solid waste management best practices; facilitate environmental education and public awareness on environmental protection and sustainable development; support introduction and lobbying principals of “green economy;” dissemination of the knowledge on environmental impacts and environmental due diligence on strategic projects on the territory of Georgia; cooperation and coordination among non-governmental environmental organizations and other stakeholders for improvement of environment protection and sustainable development in order to meet sustainable agenda; introduction of best practice guidelines in preparation of management plans, environmental and social action plans; introduction of  best practice knowledge on integrated management plans and environmental strategies; etc.

Georgian Society of Nature Explorers “Orchis” (GSNE “Orchis”) has received the grant from Keep Georgia Tidy (Sida Contribution No:13312) towards the Keep Georgia Tidy Project to be implemented during 2019 July 1-2023 May 31; Sida Contribution No:13312-GSNE “Orchis”.

Georgian Society of Nature Explorers “Orchis” (GSNE “Orchis”) wishes to engage the services of an audit firm for the purpose of annual auditing of the project Keep Georgia Tidy as stipulated in the agreement between the Georgian Society of Natural Explorers “Orchis” (GSNE “Orchis”) and Keep Georgia Tidy ( Sida Contribution No:13312). The audit shall be carried out in accordance with international audit standards (ISA) issued by International Audit Standards issued by IAASB [1] . In addition, an assignment according to International Standards on Related Services (ISRS) 4400 shall be carried out. The audit and the additional assignment shall be carried out by an external, independent, and qualified auditor.

 

 

I.                    Objectives and Scope of the Audit

 

The objective is to audit the financial report for the period: 2021 July 1 to 2022 June 30, as submitted to Keep Georgia Tidy, and to express an audit opinion according to ISA, applying ISA 800/ISA 805 on whether the financial report of the project Keep Georgia Tidy is in accordance with GSNE “Orchis” accounting records and Keep Georgia Tidy’s (KGT) requirements for financial reporting as stipulated in the agreement including appendices between Keep Georgia Tidy and GSNE “Orchis” (Sida Contribution No: 13312).

 

II.                 Additional assignment; according to agreed upon procedures ISRS 4400, review the following areas in accordance with the Terms of Reference below

Mandatory procedures that must be included:

1.       Observe whether the financial report is structured in a way that allows for direct comparison with the latest approved budget [2] .

2.       Observe and inspect whether the financial report provides information regarding:

a)       Financial outcome per budget line (both incomes and costs) for the reporting period and columns for cumulative information regarding earlier periods under current agreement.

b)       When applicable, compare if the opening fund balance [3] for the reporting period matches with what was stated as closing fund balance in the previous reporting period.

c)       A disclosure of exchange gains/losses. Inquire and confirm whether the disclosure includes the entire chain of currency exchange from Sida’s disbursement to the handling of the project/programme within the organisation in local currency/ies, if applicable.

d)      Explanatory notes (such as, for instance, accounting principles applied for the financial report).

3.       a) Inquire and inspect with what frequency salary costs during the reporting period are debited to the project/programme.

Choose a sample of three individuals for three different months and :

b)       Inquire and inspect whether there are supporting documentation [4] for debited salary costs.

c)       Inquire and inspect whether actual time worked is documented and verified by a manager. Inquire and inspect within which frequency reconciliations between debited time and actual worked time is performed.

d)      Inspect whether the GSNE “Orchis” comply with applicable tax legislation with regard to personal income taxes (PAYE) [5] and social security fees.

4. a) Inspect and confirm that the unspent fund balance (according to the financial report) at the end of the financial year is in line with information provided in the accounting system and/or bank account.

III.    The reporting

The reporting shall be signed by the responsible auditor (not just the audit firm [6] ) and shall include the title of the responsible auditor.

Reporting from the ISA assignment

The reporting from the auditor shall include an independent auditor’s report in accordance with the format in standard ISA 800/805 and the auditor’s opinion shall be clearly stated. The financial report that has been the subject of the audit shall be attached to the audit report.

The reporting shall also include a Management letter that discloses all audit findings, as well as weaknesses identified during the audit process. The auditor shall make recommendations to address the identified findings and weaknesses. The recommendations shall be presented in priority order and with a risk classification.

Measures taken by the GSNE “Orchis” to address weaknesses identified in previous audits shall also be presented in the Management Letter. If the previous audit did not have any findings or weaknesses to be followed-up on, a clarification of this must be disclosed in the audit reporting.

If the auditor assesses that no findings or weaknesses have been identified during the audit that would result in a Management Letter, an explanation of this assessment must be disclosed in the audit reporting.

Reporting from the ISRS 4400 assignment

The additional assignment according to agreed upon procedures ISRS 4400 under section II, shall be reported separately in an “Agreed-upon procedures report”. Performed procedures should be described and the findings should be reported in accordance with the requirements in the International Standard on Related Services 4400.

When applicable, the sample size shall be stated in the report  

The Audit reporting should be provided to GNSE “Orchis” no later than 1 2 August 2022 in English.

GSNE “Orchis” shall submit the Audit Report, Management letter and Management Response, including an Action Plan regarding any findings to Keep Georgia Tidy by August 15, 2022.

 



[1] The International Auditing and Assurances Standards Board (IAASB)

[2] The budget is attached to the agreement with Sida as an annex and any updates should be supported by a written approval by Sida.

[3] I.e. funds remaining from disbursements made during previous reporting period/s

[4] Debited salary costs should be verified by supporting documentation such as employment contracts.

[5] Pay As You Earn

[6] If the audit firm is obliged to sign, refer to relevant legislation. Sida still needs to know who has been responsible for the audit assignment.

 


[1] The International Auditing and Assurances Standards Board (IAASB)