Request for Expression of Interest (EOI): Provision of External Audit Services for the Years (2018 -2021)
Background: The Nairobi Waldorf School is among Africa’s oldest Waldorf schools and was founded in 1992. It has established two campuses in Karen and Lavington and offers creative Waldorf Education for the children in both campuses.
We are a growing community which shares the simple vision of raising our children holistically in true consciousness and love, with the goal of enabling them to contribute towards establishing a more peaceful and sustainable Kenya and Global community.
Introduction: The Nairobi Waldorf School (NWS) requests for professional Accounting Firms interested in providing statutory external audit services for the financial years 2018-2021 to submit their expressions of interest.
Responsibility of the Firm
- Independently conduct an audit of the Nairobi Waldorf School (NWS) operations, according to International standards on Auditing and International Financial Reporting standards
- Advise the Board and School Management on effectiveness of the financial system after conducting an in-depth assessment and evaluation of its internal control and risk management procedures
- Provide a professional opinion on whether the current financial statements are prepared by the school, in accordance with the applicable financial reporting standards and frameworks, and whether the school has maintained proper books of accounts and whether the accompanying financial statements give a true and fair view of the financial position of the school
- Provide advice on remediation of any deficiencies identified
- Assess the capability of NWS Financial Information Systems and their related infrastructure
The firms submitting their expressions of interest must meet the following standards to qualify:-
Be registered with the Institute of Certified Public Accountants of Kenya (ICPAK) and all Partners must be holders of current practicing certificate (s).
The firm’s Partners should:-
- Have good professional track record with ICPAK
- Have been in operation for at least five years and must demonstrate previous experience in this capacity
- Have undergone a Quality Assurance Review by ICPAK
The firms must demonstrate:-
- Their expertise in auditing and must have good working knowledge of the International Financial Reporting Standards (IFRSs) and the International Standards on Auditing (ISAs)
- That they have a system of quality control while providing audit and assurance services.
- Their capacity to adequately review the School’s Information System
- Their capacity to advise on governance related issues, as well as on the improvement of the information systems and existing and emerging management controls
The firm must provide a detailed profile outlining their capacity, capability and experience required to undertake the audit within set timelines efficiently.
Provide a valid tax compliance certificate
Current business permit
Submission of Expression of Interest
The firms that meet the above criteria should submit their EOI as outlined below:-
Technical Expression of Interest
The firm’s confirmation of their understanding of the Terms of Reference(TOR) outlining its capacity and capability to deliver on the Terms of Reference NB: (this must include the CVs of the key staff proposed to undertake the assignment)
The methodology, work- plan and duration for undertaking and completing the proposed assignments, and the deliverables
At least 3 references to demonstrate their experience as specified in the TOR
Fees and expenses
Confirmation that all of the partners or key staff have a good standing with ICPAK and have no disciplinary issues with the body or with other professional bodies
Confirmation that none of the partners or key staff has or is aware of any conflict of interest which may exist with respect to Nairobi Waldorf School (NWS).
Copies of registration certificates with ICPAK
Copies of Partners Practicing Certificates
Deliverable of Assignment
The external audit will be conducted annually each November and presented to the Board of Trustees in December.
The Firm will incorporate comments and submit a Final Report in two (2) hard copies and an electronic copy within seven (7) days on completion of the assignment to the School Manager.
Duration of Assignment: The contract will be for a period of three (3) years beginning 1st July, 2018 until 1st July, 2021.
3 Copies of Sealed Expressions of Interest (EOI) as outlined above should be addressed and submitted to:-
The Board of Trustees
C/o School Manager
Nairobi Waldorf School (NWS)
P.O. Box 13732-00800
An Electronic Version of the same should be submitted by:-
Applications will be accepted on or before 29th March, 2018.