INKUNGAFINANCE PLC
BP 35 KIBUYE-RWANDA
E-mail: info@inkungafinance.com
INVITATION FOR AUDIT SERVICES
INKUNGA FINANCE Plc is dedicated to promoting financial services for quality to small and medium entrepreneurs in order to contribute to their social-economic development and to continue considered as operating self-sufficient institutions. INKUNGA FINANCE Plc conducts its activities of saving and credits in Western province, with Three main Branches and five counters.
Reference to article 13 of official gazette no 16 of 16/04/2018, INKUNGA FINANCE Plc needs an external auditor/Auditing Company to provide external audit services in accordance with International Standards on Auditing (ISA) as well as International Financial Reporting Standards (IFRS). This certification of financial reports should be conducted in a period of three years (2021 to December 2023).
Terms of reference for external auditor
INKUNGA FINANCE would like to recruit a committed and professional external audit company, to certify the financial statements for the year 2021.
With due diligence and professional work, the external auditor will audit and certify financial statements for the year 2021 and issue an independent opinion on their preparation in accordance with International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) as well as their compliance to any underlying reporting framework.
Thus, the external auditor will among others be vested the following duties:
- To conduct an annual review of financial statement for the year 2021 in accordance with international standards on auditing (ISA) and any relevant regulation issued by regulators;
- Express an independent and professional opinion explaining if Inkunga Finance’s financial statements present a fair view in all items;
- To issue the audit report to management as well as to regulator (BNR) on agreed time;
- Give feedback to the regulator as appropriate;
- To assist internal audit department to their assignments and advise them;
- Ensure timely and proper reporting of any deficiency found during audit and certification of financial statement for the year 2021;
- Ensure proper communication with the management committee and board of directors’ commissions;
- To issue a management letter for the annual audit engagement.
Audit performance
As per relevant regulations, the external audit shall conduct his/her work in accordance to international accounting standards (ISA) and International Financial Reporting in the time settled by management and regulators, and certification of financial statement will result in an independent opinion of whether the financial statement of Inkunga Finance Plc present fair view.
Period of audit work
The external audit work is expected in the period of three weeks from the date of contract signature.
Requirement of external auditor company proposed
The external auditor company to be recruited must fulfill the following;
- To be a member of the Institute of Certified Public Accountant of Rwanda (ICPAR);
- To prove evidence of being in the current list of Microfinance institution’s external auditors licensed by Central Bank (BNR);
- To prove experience in auditing services of microfinance institutions in Rwanda (3 Years and above)
Financial evaluation
The price which is relevant to that fixed at management level shall be considered;
All interested candidates are requested to submit a sealed document with mention of” Terms of Reference for external audit “. The bid document shall include the following:
- A motivation letter addressed to Managing Director of Inkunga Finance Plc;
- A Copy of certificate for practices issued by Institute of Certified Public Accountant of Rwanda (ICPAR) in good standing;
- RDB certificate for tax advisory;
- RRA clearance certificate;
- Valid certificate of accreditation issued by Central Bank;
- Names, qualifications, and experiences of engagement third party or Manager.
Kindly remit your sealed bids in the office of Finance and Administrative Director on 15 December 2021.
Bidders or their representatives are invited to take part in the opening session which shall take place on Monday 15/12/2021 at 14:30 PM. This session shall open, read out the names of bidders and publish the results of a successful bidder.
N:B: Nevertheless, Inkunga Finance has all right to refuse all prices which are above the budget.
NSENGIMANA Claudien
Manging Director
