Recruitment of Consultants to Carry Out an External Quality Assessment of the Internal Audit Function — The Gambia Fiscal Management Development Pr…

REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTANCY SERVICES – FIRM SELECTION)

Name of Project: The Gambia Fiscal Management Development Project (P166695)

Grant No.: IDA-D6190

Assignment Title: Recruitment of Consultant to provide External Quality Assessment of the Directorate of Internal Audit under the Ministry of Finance and Economic Affairs for the Government of The Gambia (GoTG).

Reference No. GM-PPPPE-286110-CS-CQS

Background:

The DIA is mandated by the PFA 2014 and the FR 2016 to provide independent, objective assurance and consulting activity that is designed to add value and improve the organization’s operations in all MDAs. The DIA helps management achieve its objectives by bringing a systematic and disciplined approach to evaluating and improving the effectiveness of risk management, internal controls, and governance processes. The scope of work of the internal audit function is to determine whether GOTG's network of risk management, control and governance processes (as designed and operated by management) are adequate and functioning.

The International Standards for the Professional Practice of Internal Auditing issued by the Institute of Internal Auditors (IIA Standards) require external quality assessments (QA) of the internal audit activity to be conducted at least once every five years by a qualified, independent reviewer or review team from outside the organization. (Standard 1312).

Complying with International Internal Auditing Standards and best practices. The Internal audit function still does not meet all the requirements of the International professional practice framework (IPPF) issued by the Institute of Internal Auditors. Although great improvements have been achieved in the area of independence and objectivity of the internal audit function, there is still a need for improvement in developing and maintaining quality assurance and improvement programs that cover all aspects of internal audit activity.

The IIA’s International Professional Practices Framework (IPPF) defines a quality assurance and improvement program (QAIP) as:

An ongoing and periodic assessment of the entire spectrum of audit and consulting work performed by the internal audit activity. These ongoing and periodic assessments are composed of rigorous, comprehensive processes; continuous supervision and testing of internal audit and consulting work; and periodic validations of conformance with the Definition of Internal Auditing, the Code of Ethics, and the Standards. This also includes ongoing measurements and analyses of performance metrics (e.g., internal audit plan accomplishment, cycle time, recommendations accepted, and customer satisfaction). If the assessments’ results indicate areas for improvement by the internal audit activity, the Director General Internal Audit (DGIA) will implement the improvements through the Quality Assessment and Improvement Program (QAIP).

Objectives

In line with the guidance of the International Professional Practice Framework (IPPF) and close partnership with the Directorate of Internal Audit (DIA).

The objectives of the external QA are:

• To assess DIA’s conformance with the IIA Standards and Code of Ethics

• Provide an opinion on the internal audit activity’s conformance to the spirit and intent of the IPPF.

• Assess the efficiency and effectiveness of the internal audit activity in light of Its GoTG Internal Audit Charter

• Expectations of the GoTG Internal Audit Committee, Executive Management, and the CAE or Director General Internal Audit (DGIA)

• Identify opportunities and offer ideas and counsel to the CAE (DGIA) and staff for:

• improving their performance

• Increasing the value, they add to the enterprise

Scope of Services

In line with the guidance of the International Professional Practice Framework (IPPF) and close partnership with the Directorate of Internal Audit (DIA), the consultant (The external QA) will assess all of OAI’s internal audit activities, such as but not limited to annual work planning, including use of resources; various types of audits pertaining to DIA head office(headquarters), posted internal audit units and functions and directly-implemented projects; audit follow-up system; advisory services; coordination with the National Audit Office (NAO), relationship with GoTG senior management, Advisory Committees, and the executive heads of MDAs.

It will also assess the organizational status and mandate of OAI as well as the proficiency of OAI auditors.

The following activities will not be covered: (i) investigation services, as this is subject to a separate external quality assessment; and (ii) review and assessment of audit reports prepared by third party auditors of nationally implemented projects and projects implemented by non-governmental organizations, as this is not strictly speaking an assurance activity

The method used for the Quality Assessment involved a Self-Assessment performed by the Internal Audit function, with Independent Validation conducted by an Independent Validator from outside the DIA and GoTG.

Review selected internal audit engagements by reviewing the working papers.

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• Review conformance of Internal Audit with mandatory internal auditing requirements, including the Standards.

• Review and validate the Self-Assessment report prepared by the Internal Audit function.

• Include any additional comments and recommendations into the report arising from the Independent Validation.

• Finalise the report and include an Independent Validation Statement.

FIRM QUALIFICATION AND EXPERIENCE

The consulting firm must meet the following qualification and experience:

• The Firm should be registered with the Gambia Institute of Chartered Accountants (GICA) upon the recommendation for the contract.

• The consultant firm must demonstrate competence in at least two areas: (i) the professional practice of internal auditing and (ii) the external quality assessment process.

• Collectively, the consultant firm should possess (i) experience in conducting external quality assessments of entities comparable in size and complexity, (ii) the necessary technical skills (e.g., information technology, risk management, governance, and strategic management, internal auditing and audit management); (iii) familiarity with the internal audit function in the public sector; and (iv) exposure to the Government system or other international or multilateral organizations.

The Consultant will demonstrate relevant and proven experience of previous assignments and provide us with information and brochures on similar relevant assignments.

The attention of interested Consultants is drawn to Section III, paragraphs, 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” July dated July 2016 and revised November 2017 and August 2018 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest.

Consultants may associate with other firms in the form of a joint venture or a sub consultancy to enhance their qualifications.

A Consultant will be selected in accordance with the Consultant Qualification Selection (CQS) method set out in the Consultant Guidelines. Further information can be obtained at the address below during office hours from 09:00 to 16:00.

Expressions of interest should be delivered in a written form to the address below (in person, or by mail) by close of business on 05 May 2022 at 12h30 GMT

Gambia Fiscal Management Development Project GFMDP

Ashobee Store Building

2nd Floor, Banjul

The Gambia

Email: [email protected], and [email protected]