Request for Quotations (RFQ) for
provision of Audit Services (Expenditure Verification Report)
Date of Announcement: 13 January 2020
Caucasus Research Resource Center (CRRC) Georgia is currently accepting written quotations to perform an expenditure verification in connection with a European Union financed Grant Contract for external actions concerning “Peacebuilding through Capacity Enhancement and Civic Engagement” (PeaCE) programme. The subject of this engagement is the final Financial Report in connection with the Grant Contract for the period covering 01.01.2017 – 31.12.2019. Detailed information about the Grant Contract can be provided to interested vendors upon request sent to the email address email@example.com.
Requested Audit Services
This expenditure verification is an engagement to perform certain agreed-upon procedures with regard to the final Financial Report for the Grant Contract. The objective of this expenditure verification is to carry out specific procedures and to submit to CRRC Georgia a report of factual findings with regard to the specific verification procedures performed. Verification means that the Auditor examines the factual information in the Financial Report of the CRRC Georgia and compares it with the terms and conditions of the Grant Contract. As this engagement is not an assurance engagement the Auditor does not provide an audit opinion and expresses no assurance.
Standards and Ethics
The Auditor shall undertake this engagement in accordance with:
- the International Standard on Related Services (‘ISRS’) 4400 Engagements to perform Agreed-upon Procedures regarding Financial Information as promulgated by the IFAC;
- the IFAC Code of Ethics for Professional Accountants (developed and issued by IFAC's International Ethics Standards Board for Accountants (IESBA), which establishes fundamental ethical principles for Auditors with regard to integrity, objectivity, independence, professional competence and due care, confidentiality, professional behaviour and technical standards.
Requirements for Vendors
The Auditor and/or the audit firm must meet at least one of the following conditions:
- The Auditor and/or the firm is a member of a national accounting or auditing body or institution which in turn is member of the International Federation of Accountants (IFAC).
- The Auditor and/or the firm is a member of a national accounting or auditing body or institution. Although this organisation is not member of the IFAC, the Auditor commits him/herself to undertake this engagement in accordance with the IFAC standards and ethics set out in these ToR.
- The Auditor and/or the firm is registered as a statutory auditor in the public register of a public oversight body in an EU member state in accordance with the principles of public oversight set out in Directive 2006/43/EC of the European Parliament and of the Council (this applies to auditors and audit firms based in an EU member state).
- The Auditor and/or the firm is registered as a statutory auditor in the public register of a public oversight body in a third country and this register is subject to principles of public oversight as set out in the legislation of the country concerned (this applies to auditors and audit firms based in a third country).
Negotiations, Evaluation and Award
Best offer quotations are requested. It is anticipated that awards will be made solely on the basis of these original quotations. However, CRRC Georgia reserves the right to conduct negotiations and request clarifications prior to awarding a contract. The award will be made to a responsible offer or whose offer follows the RFQ instructions, meets the requirements, and is judged to be the most advantageous to the buyer in terms of cost and responsiveness to proposal specifications.
CRRC Georgia may reject all quotations in whole or in part in its sole discretion for any reason and is not obligated to award any one or more contracts pursuant to this procurement or to issue a new procurement if no contract is awarded under this procurement. It is the vendor’s responsibility to make sure that all the required elements and forms are included and in the proper format of their quotation. Quotations that do not include the required elements and forms may be disqualified from consideration.
Quotations must be a fixed price, expressed in EURO (EUR) and all-inclusive of any associated costs. All necessary taxes or fees should be added to the offered price. Offers must show unit prices and total price. All services must be clearly labeled and included in the total price.
Questions and Clarifications
All questions and clarifications regarding this RFQ must be submitted in writing to firstname.lastname@example.org no later than 18:00 (GMT+4), on 5 february 2020.
Offer Deadline and Submission Rules
Quotations must be received no later than 12:00 (GMT+4) on 5 february 2020 by email. All offers must be emailed to email@example.com. Please reference the name of RFQ in the subject line of your email.
All quotations must include:
- Evidence of the vendor’s qualifications to provide the above services, including registration documents with the relevant state body;
- Background and experience in auditing nonprofit clients;
- The size and organizational structure of the auditor’s firm (for audit firms only);
- Statement of the vendor’s understanding of work to be performed;
- A proposed timeline for fieldwork and final reporting;
- Proposed fee structure;
- Names of the partner, audit manager, and field staff who will be assigned to the audit and respective biographies;
- References and contact information from at least 2 comparable nonprofit audit clients.