TERMS OF REFERENCE
Introduction
WWF Zambia: WWF Zambia is a non-profit, non-governmental organization under Zambian law and has been in existence since 1961. As a branch office of WWF-International, the WWF Zambia country office was founded in 1991 as part of the global WWF network.
WWF Zambia with financial support from Stichting DOB Ecology through WWF Netherlands is currently implementing a ten-year project in a three-phase manner and is now in the third and final phase.
Phase I was from 1st January 2017 – 31st December 2020 which aimed at documenting and quantifying major threats and drivers to ecosystem change as well as investigating ecosystem functional dynamics and quantifying the provision of ecosystem goods and services to local communities.
Phase II was from 1st January 2021 to 31st December 2023 which entailed the translation of research results from phase I into conservation, management, and policy action. In addition, the phase aimed to strengthen and consolidate partnerships following the period of identifying and aligning with a suite of partners to deliver on the program.
Phase III, which is the final phase, running from 1st January 2024 to 31st December 2027 is the consolidation phase that amalgamates the scoping and conservation efforts in the last six years of the program and will address existential threats and drivers to biodiversity loss in and around Protected Areas poised by large scale infrastructure mining and hydropower projects in the Upper Zambezi Landscape.
Background
The Project is funded by Stichting DOB Ecology through WWF Netherlands and implemented by WWF Zambia. The Project Budget for Phase II was EUR 2,748,667 for a period of 3-years while the Project Budget for Phase III is EUR 2,507,556 and is being implemented for a period of 4-years.
WWF Zambia wishes to engage services of a Chartered Accountant officially registered by the Zambia Institute of Chartered Accountants (ZICA) to conduct Audit of Accounts of the Upper Zambezi Project Phase II and the first six months of Phase III.
Worldwide Fund for Nature Zambia (WWF Zambia) is requiring the services of a qualified external auditor to review the period ended 1st January 2021 to 31st December 2023 and the first six months of Phase III running from 1st January to 30th June 2024.
Objective
Scope
The audit will be conducted in accordance with International Standards on Auditing (ISA) as published by the International Auditing and Assurance Standards Board of the International Federation of Accountants and will include such tests and controls as the auditor considers necessary as well as on-site visits if also deemed necessary.
Sample or coverage
The sample or Expenditure coverage ratio is the total amount of expenditure verified by the Auditor, expressed as a percentage of the total amount of expenditure reported by the project in the financial report.
The Auditor assures that the Expenditure Coverage Ratio is at least 65%. If he/she finds an exception rate of 10% of the total amount of expenditure verified (i.e. 6.5%) the Auditor finalizes the verification procedures and continues with reporting.
If the exception rate found is higher than 10%, the Auditor extends verification procedures until the Expenditure Coverage Ratio is at least 85%. The Auditor then finalizes verification procedures and continues with reporting regardless of the total exception rate found.
The external audit should include the following auditing and control measures:
The final audit certificate must state the following (minimum requirement):
“We hereby certify that we have audited the statement of accounts of Worldwide Fund for Nature Zambia (WWF Zambia)] regarding the financing of the project Upper Zambezi phase II and III. Our audit was carried out based on the following requirements pertaining to the use of funding: List of relevant contracts and documents. To this end, we have inspected the books and receipts. Based on our audit, we confirm that:
Reports
The audit report(s) will:
If considered pertinent, the auditor will also prepare a “management letter” in which the auditor will:
Interested audit firms must submit, their:
All the above mentioned should be shared via email to: zcoprocurement@wwfzam.org clearly specified as below:
All submissions should be received by WWF Zambia Via the specified email address no later than 6th November 2024
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