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Expression of Interest - Details

Eoi Name:
Audit of Project Financial Statements for Second Land Administration Project
Pack #:
GH-LAP-II-22543-CS-LCS
Post Date:
10th November, 2017
Submit Date:
24th November, 2017
Tender Cat:
Consultancy Services
Agency:
Land Administration Project
Industry:
Auditing
Description:
Consultancy Service for the Audit of Project Financial Statements for Second Land Administration Project

The Ministry of Lands and Natural Resources has received financing from the World Bank toward the cost of the Second Land Administration Project (LAP-2), and intends to apply part of the proceeds for consultant services.

The consulting services (“the Services”) include audit of the Project Financial Statements to enable the Auditor to express a professional opinion on the Project’s Financial Position as at the end of each financial year of the contract period, involving incomes and expenditures for the accounting period.

LAP-2 is a follow on project of LAP-1 and is being implemented based on the National Land Policy which came into effect in 1999. The Project concentrates on completing outstanding legal and institutional reforms, removing business bottlenecks, promoting transparency and addressing various land administration challenges with the view to: (i) speeding up land registration and delivery of titles and deeds; (ii) enhancing security of tenure; and (iii) strengthening the settlement of land disputes, among others. The Project also supports the completion of the Land Bill, engaging in legislative and institutional reforms started under LAP-1. The Project is being implemented through four-interrelated Components, namely:

1. strengthening the Policy, Legal and Regulatory Framework for Land Administration;
2. decentralizing and improving Business and Service Delivery Processes;
3. providing improved Maps and Spatial Data for Land Administration; and
4. engaging in Human Resource Development and Project Management.

1. The objective of the audit of the Project Financial Statements (PFS) is to enable the Auditor to express a professional opinion on the Project’s Financial Position as at the end of December 31, 2017 and subsequently end of February 2018, involving incomes and expenditures for the accounting period from January 1, 2017 and ending December 31, 2017 and the period January 1, 2018 to February 28, 2018. The Project’s books of account, as maintained by the Project Coordinating Unit (PCU) and the Agencies provide the basis for the preparation of financial statements and are established to reflect the financial transactions in respect of the Project.

The services to be provided under the contract shall include the following, the Consultant shall:
2. The audit will be conducted in accordance with International Standards on Auditing. The Auditor should plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements.
3. The audit will include examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. It will also include assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.
4. The Auditor is expected to pay particular attention to the following matters, including special considerations for public sector entities.
(a) In planning and performing the audit to reduce audit risk to an acceptably low level, the Auditor should consider the risks of material misstatements in the financial statements due to fraud as required by International Standard on Auditing 240: The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements.
(b) The Auditor should recognize that noncompliance by the entity with laws and regulations may materially affect the financial statements.
(c) The Auditor should communicate audit matters of governance interest arising from the audit of financial statements to those charged with governance of an entity.
(d) The Auditor should communicate appropriately to those charged with governance and management deficiencies in internal control that the Auditor has identified in an audit of financial statements.
5. In evidencing compliance with agreed project financing arrangements the Auditor is expected to carry out tests to confirm that:
(a) all external funds have been used in accordance with the conditions of the relevant financing agreements, with due attention to economy and efficiency, and only for the purposes for which the financing was provided. Relevant financing agreements include Financing Agreement No. 4870 GH;
(b) counterpart funds have been provided and used in accordance with the relevant financing agreements, with due attention to economy and efficiency, and only for the purposes for which they were provided;
(c) all necessary supporting documents, records, and accounts have been maintained in respect of all project activities, including expenditures reported using Statements of Expenditure (SOE) or Interim Unaudited Financial Statements (IFS) methods of reporting. The Auditor is expected to verify that respective reports issued during the period were in agreement with the underlying books of account;
(d) Special Account of the PCU and Advance Accounts of the Agencies have been maintained in accordance with the provisions of the relevant financing agreements.

The duration of the consultancy shall be for four months.

The Ministry of Lands and Natural Resources through the LAP Project Coordinating Unit now invites eligible consulting firms (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. The short-listing criteria are: The Consulting firm shall have:

a. experience in audit of Donor funded project Financial Statements;
b. availability of appropriate skills among staff.
c. Membership of a professional body.
Source of Funds:
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Region:
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District:
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Contact Person:
National Project Coordinator Second Land Administration Project (LAP-2) Project Coordinating Unit Ministry of Lands and Natural Resources P. O. Box M212, Ministries Post Office Accra, Ghana
Email :
ebartropsackey@gmail.com
Tel :
Fax :
Website: