Request For Afghanistan Microfinance Association (AMA)
Request For AMA Annual External Audit for FY-2021
REQUEST FOR EXPRESSIONS OF INTEREST
Country: Islamic Republic of Afghanistan
Assignment Title: AMA Annual External Audit for FY-2021
Duration of Assignment: One (1) month
Implementing Agency: Afghanistan Microfinance Association (AMA)
Duty Station: Kabul, Afghanistan
Contract Type: Lump Sum
Reference No: AMA/AFP/CS-22
Issuance Date: April 26, 2022
- BACKGROUND:
Afghanistan Microfinance Association (AMA) is the national network of development finance Institutions in Afghanistan. AMA aims to promote, support, strengthen, and offer appropriate support to institutions involved in the developmental finance sector in Afghanistan through effective lobbying and advocacy on behalf of the sector, knowledge management, sector coordination & networking, and capacity building.
The Microfinance Investment Support Facility for Afghanistan (MISFA), Microfinance Institutions (MFIs), and other stakeholders established AMA in 2005.AMA was registered with the Ministry of Justice in 2007.
AMA has been receiving technical and financial supports from MISFA since its creation in 2005, which helped it to establish itself as a leader of the microfinance sector in the country. AMA is now considered a reliable source of information and coordinator of the microfinance sector in Afghanistan.
In 2009, AMA was enrolled as a member of the South Asian Microfinance entrepreneur Network (SAMN), a regional microfinance network, and also being one of the founding members of (SAMN). Besides, in 2012 AMA became a member of the Social Enterprise and Education Promotion (SEEP) Network.
Currently, AMA has six members; OXUS Afghanistan, Islamic Investment & Finance Cooperatives (IIFC) Group, Mutahid DFI, The First Microfinance Bank (FMFB) Afghanistan, Aga Khan Foundation (AKF), and Hand in Hand Afghanistan.
AMA has 10 permanent Afghan National employees. AMA runs a centralized accounting system in its office in Kabul headed by Finance officer and supported by Executive Director.
The finance department is responsible for the financial management of the organization including data entry and financial reporting to donors/management and providing financial information to different stakeholders. AMA has been using Quick Books accounting software for its financial data record keeping and reporting since 2011.
The Financial year for auditing purpose is twelve months from January 01, 2021 to 31 December 2021, and the total expenditure for the period is AFN 18,582,025.
- OBJECTIVE:
AMA wishes to engage the services of external auditors of international reputation for conducting the annual audit of its financial statements & all financial records in accordance with the statutory requirements, International Financial Reporting Standards (IFRSs) guidelines and International Standards on Auditing (ISA). AMA invites the Audit firms to submit technical and financial proposals for this purpose. The objective of the audit is to enable the auditors to express an opinion on the financial position and financial performance of AMA for the year ended December 31, 2021 and on donor financial reports which have been sent by AMA, and ensure compliance with the grant agreement with the WB, FM manual of WB for Afghanistan, and tax regulation.
- SCOPE OF AUDITS:
The audit will be conducted in accordance with ISAs as published by the International Auditing and Assurance Standards Board of the International Federation of Accountants (IFAC) as a whole besides. The audit will also be based on instructions for the program accounting and in compliance with AMA’s finance manual.
- REPORTING:
The annual audit should begin ASAP after the contract is signed, Draft audit reports along with financial statements should be submitted to AMA for its review and comments within ten days of completion of the audit executions/detailed examination. Final audit reports along with the management letter shall be issued within 5 days after the receipt of comments from AMA. The final audit report should be submitted to AMA within one month of starting the audit.
The annual audit should begin within one week or ASAP after the contract is signed. The final audit report should be submitted to AMA within one month of starting the audit.
- DELIVERABLES:
The company will be responsible for the following deliverables:
- Methodology, including work plan outlining timeframe for completion of the assignment
- Share the audit findings with the AMA, with proper recommendations
- Draft audit report for review by AMA management
- Audit opinion on AMA’s overall financial statements of the year 2021
- Final Audit Report
- Management letter
- LOCATION OF AUDIT
The audit will be carried at AMA office in Kabul Afghanistan.
- Short listing Criteria:
- Similar experience in External Auditing with Reputable organizations
- Having experience of Auditing service with financial Sector.
- Excellent technical capacities to ensure smooth and high-quality deliverables
- Local companies/firms must be registered with Afghanistan government
- Method of Selection
A firm will be selected through Selection Based on the Consultants’ Qualifications (CQS) method in accordance with the procurement guidelines for Selection and Employment of Consultants under World Bank/ AMA procedure.
- Submission of EOI
Expressions of interest must be send through e-mail (Ed@ama.org.af finance@ama.org.af). No later than May 10, 2022 at 14:00 Hours (Kabul local time).
Further information in respect to this REOI can be obtained at the address below by email or in person during office hours [08:00-16:00 Hours].
Ahmad Ahadi
Finance & Admin Officer
Afghanistan Microfinance Association (AMA)
House no 42, Street 3, Taimani Project, District 4, Kabul- Afghanistan
Phone Number: +93786151513
E-mail: Ed@ama.org.af finance@ama.org.af Web site: www.ama.org.af