Terms of Reference  for Institutional Audit of the programs || HelpAge Zimbabwe (HAZ)

DUE: 13 MAY 2025

Terms of Reference  for Institutional Audit of the programs implemented by HelpAge Zimbabwe
32 Hillside Road, Hillside, Harare

BACKGROUND OF THE ORGANIZATION

HelpAge Zimbabwe (HAZ) is a local Non-Profit Organization registered in 1989 as W.O 11/89, dedicated to improving the quality of life for older persons in Zimbabwe. Founded on the belief that every older person deserves respect, dignity, and the opportunity to lead a fulfilling life, HelpAge Zimbabwe has committed itself to addressing the unique challenges faced by older persons, including access to healthcare, economic empowerment, social inclusion, and protection of their rights. HAZ mandate is to advocate the rights, dignity, and well-being of older persons, ensuring that they are supported in living active, healthy, and fulfilling lives in their communities. HelpAge Zimbabwe is seeking to invite applications for the Provision of External Audit Services for the year ended 31 December 2024.

VISION AND MISION, VALUES

Vision Statement
Leading in transforming the lives of older and vulnerable persons in Zimbabwe

Mission Statement
To promote, support, and sustain the quality of life for older persons in Zimbabwe.

Core Values

• Accountability and Transparency
• Participation (teamwork, stakeholder engagement)
• Non-discrimination (embody the spirit of social protection)
• Integrity & honesty
• Empathy (objectivity and connectivity)
• Leadership (servant leadership)
• Safeguarding human life
• Ethical

OBJECTIVES

The aim of the audit is to review the operational and financial performance of HelpAge Zimbabwe programsto provide the HelpAge ZimbabweManagement and Board with reasonable assurance to the financial statements of the organisationof whether proper books of account has maintained and that the accompanying financial statements are true and fair and free from material misstatement for the period under review and whether systems and controls are working effectively.

Specifically, the audit will determine whether controls ensure:

• That grants used by HelpAge Zimbabwe in accordance with the approved Budget Plan(s) and any additional funds granted within the financial year.
• The disbursements are made in accordance with the activities and approved budget.
• That disbursements are supported by adequate documentation according to Grant(s) guidelines and that all necessary supporting records and accounts are maintained according to the HelpAge Zimbabwe standards, considering relevant local statutory audit requirements.
• Receipts: vouch the accuracy and completeness of recorded receipts.
• Payments: vouch payments from cashbooks against respective invoices and against receipts for goods and services and whether they were checked by management for arithmetic accuracy, pricing, condition and authorisation.
• Bank and cash balances – agree reported balances to the cashbook and review bank statements and cash count sheets to reconciliations.

• That agreements with contractors are verified and confirm the agreed payments.
• That personnel costs agree with paid salaries, with signed contracts, payroll and cashbook and staff salaries ledger.
• Review existing asset list & draw new one as per management decision.
• That procurement procedures comply with procurement guidelines and tender policies.
• That the resources are used efficiently, economically and in an effective way.

SCOPE OF WORK AND DURATION OF CONTRACT

The audit will be performed in accordance with International Financial Reporting Standards (IFRS), IFAC Code of Ethics and International Standards on Auditing (ISA). The auditors should assess the organization’s compliance with policies and procedures.

• Project and audit duration: The annual financial reports and financial statements for the FY 2024are fairly and accurately presented. The contract shall be renewed annually for a minimum period of 3 years.
• The internal control system and management structure of HelpAge Zimbabwe- (legal status, staff management, accounting system, control of assets and expenditures in financial transactions).
• The compliance with the respective Government Acts as applicable such as, e.g., Income Tax Act
• Compliance with donor requirements in financial and programitc reporting
• The procurement system, use, control, and disposal of equipment and consumambes.

GENERAL AND FINANCIAL REQUIREMENT

• The Audit Reports should consist of Income and Expenditure Statement, Receipts & Payments Statement/cash flow statement and Balance Sheet. Auditor is also required to submit Management Reports
• Audit will be conducted based on the Financial Reports and documents provided by organization.
• Physical verification of stores and inventory (if any) at the time of visit.
• Physical verification of Assets.
• Verify and confirm that Goods, works and services financed have been procured in accordance with established rules and procedures.
• Checking Cash Receipts & Payment Vouchers, Bank Receipts & Payment Vouchers, Journal Vouchers, and Contra Vouchers with the respective books and other documents.
• Verifying bank reconciliation with the bank statement and cash book.
• That personnel costs agree with paid salaries, with signed contracts, payroll, cashbook, staff salaries ledger, and timesheet.
• The disbursements are made in accordance with the activities and budgets of the Project(s)
• That agreement withcontractors isverified and confirm the agreed payments.

The auditor will provide a management letter on the audit of the financialstatements of the organisation. The management letter will include the following:

1. Give comments and observations on the accounting records, procedures, systems, and controls that were examined during the course of the audit.
2. Identify specific deficiencies and areas of weakness in systems and controls and make recommendations for improvement.

• Report on the degree of compliance with all governing laws or statutory Requirements

1. Communicate matters that have come to their attention during the audit, which might have a significant impact on the management and sustainability of the HelpAge Zimbabwe Office.
2. Verify theshared cost in accordance with standard or organization policy.

REPORTING AND DELIVERABLES:

The Audit Report will be written in English language and will comprise:

• The audit standards that were applied (IFRS, or national standards that comply with one of these in all material respects).
• The auditors’ opinion on the financial statements on the period covered.
• The Audit Report and Management Letter shall be submitted in 3 copies; each addressed to the Executive Director of HelpAge Zimbabwe.
• All ineligible expenditures will be disclosed under notes to the audit report.

General Requirements:

The auditor should have;

1. Relevant experience in auditing NGO projects (able to provide at least three (3) Referees and Recommendation letters certifying previous experience in auditing NGOs).
2. Be independent and objective
3. Have necessary professional qualifications and documentation (i.e., valid registration certificate, tax clearance and operating license)
4. Meet deadlines

Submission Guidelines

Expression of interest should be addressed and or delivered to (with clearly specified subject line-RE:EOI FOR EXTERNAL AUDIT SERVICES):
The Executive Director
HelpAge Zimbabwe
32 Hillside Road
Hillside, Harare
Or via email: [email protected], copy [email protected] and [email protected]

The deadline for submission of the proposal is: 13 May 2025.

Only shortlisted candidates will be invited to present themselves for interview at a date to be communicated.