Recruitment of An External Audit Firm

REQUEST FOR EXPRESSIONS OF INTEREST (REOI)

RECRUITMENT OF AN EXTERNAL AUDIT FIRM FOR WACARESIP2

Project:West Africa Coastal Areas Resilience Investment Project 2

Grant No.: E1400-GM

Assignment Title: Recruitment of an External Audit Firm to provide audit services

Reference No.: GM-CPCU-403532-CS-LCS

NB: This consultancy is for ONLY National (Local) Firms Registered with Gambia Institute of Chartered Accountants (GICA)

PROJECT BACKGROUND INFORMATION

The Government of The Gambia through the Ministry of Environment, Climate Change and Natural Resources (MECCNAR) has received financial support from the World Bank to develop and implement the West Africa Coastal Areas Resilience Investment Project 2. The Project Development Objective (PDO) is to strengthen the resilience of targeted communities and areas in coastal Western Africa. Project activities are expected to include interventions on policy and institutions, site investments, social development, and a project management unit.

In The Gambia, five priority areas for intervention – or hotspots – were identified through a coastal risk assessment of Greater Banjul Area that was conducted over the period of 2019-2021, supported by the ACP EU NDRR program and as part of the Integrated Urban and Coastal Resilience Technical Assistance Program to The Gambia. For each of the identified hotspots, an investment scenario was developed to reduce the risks, combining structural and non-structural measures, and hybrid infrastructure solutions promoting nature-based solutions. From this technical assistance, the Government selected the Kotu stream intervention (area extent of ~1,881 hectares) to be supported under the proposed Project (US$45 million IDA) based on the high social and economic impacts expected.

The Ministry of Environment, Climate Change and Natural Resources (MECCNAR) has received financing from the World Bank toward the cost of the West Africa Coastal Areas Resilience Investment Project 2 (WACAResIP 2) (P175525), and intends to apply part of the proceeds for consulting services.

The consulting services (“the Services”) includes recruitment of an external audit firm to conduct an audit of the Project for a five-year period (2022 – 2024)

Objective and purpose of the assignment

The objective of the audit of the project financial statements is to enable the auditor to express a professional opinion on the project’s financial position as at the end of the financial year and of the income and expenditure for the accounting period ending on that date. The project’s books of account provide the basis for preparation of the financial statements and are established to reflect the financial transactions in respect of the project.

The overall objective of the audit is to assess the management of the project operations to obtain reasonable assurance towards the achievement of the project objectives. The areas of focus include:

• Effective, efficient and economical use of resources;

• Reliability of reporting;

• Safeguarding of assets; and

• Compliance with rules, regulations and applicable legislation.

The purpose of the audit is to provide reasonable assurance that:

• Donor contributions and project expenditure are properly accounted for;

• Project expenditure were incurred in accordance with the financing agreement, and are supported by adequate documentation; and

• The related project financial statement prepared by the PIU for the period under review presents a fair view of the operations.

In particular, the auditors shall:

• Express an opinion as to whether the project’s financial statement gives a true and fair view of - in all material respects - the income and expenditure of the project for the period as follows: (i) these were in conformity with the approved project budgets; (ii) for the approved purposes of the project; (iii) in compliance with the relevant regulations and rules, policies and procedures of the project; (iv) in accordance with the financing agreement terms; (v) were supported by properly approved vouchers and other supporting documents; and (iv) in line with the applicable accounting framework.

• Provide an overall assessment of the operational and internal control systems that are in place for the management of the project so that related transactions are processed in accordance with policies and procedures to achieve the project’s objectives.

The West Africa Coastal Areas Resilience Investment Project 2 (WACAResIP 2) 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 shortlisting criteria are:

• Core business of the firm (s)

• 5 years of experience in the consultancy business

• Experience in Conducting similar/relevant assignments for donor funded projects

KEY EXPERTS: qualifications and experience

Team and their minimum qualifications are indicated below:

• The audit team should be led by an Audit Partner with minimum of 10 years post qualification experience as a practicing Chartered Accountant.

• Day-to-day management of the audit should be the responsibility of an Audit Manager/Partner with at least 5 years of post-qualification experience as a practicing Chartered Accountant.

• The audit team may include a Procurement Specialist with 5 years’ experience. The Specialist should also be familiar with IDA Procedures.

• The firm must be registered with the Gambia Institute of Chartered Accountants (GICA) as required by Section 32 of the Gambia Financial Reporting Act 2013.

In addition, the audit team should include a minimum of two (2) additional staff (an audit senior, and one (1) junior staff ) with appropriate qualifications and experience for the performance of audit field work, .

Deliverables

In line with the scope of work, the consultant is expected to perform the following activities and submit deliverables as scheduled.

• Inception Report showing the structure of the Act, the implementation plan and methodology

• Submission of first draft report

• Submission of the final draft report after reviewing and validation.

• The Final Climate Change Act should be accompanied by a Comprehensive Report which describes the consultation process and provide recommendations for addressing other policy and startegic matters that cannot be included in Act.

Duration : The audit shall be on an annual basis for a 5 year period.

Depending on the EOIs received, the shortlist will contain a minimum of Five Firms. Shortlisted Firms meeting shall be invited to submit Technical and financial proposals.

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” November 2020 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest.

Consultants may associate with other firms to enhance their qualifications, but should indicate clearly whether the association is in the form of a joint venture and/or a sub-consultancy. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if selected.

Consulting Firms shall be selected in accordance with the Least Cost-based Selection (LCS) method set out in the Procurement Regulations.

Further information (including the TOR) can be obtained at the address below during office hours from Monday-Thursday 09:00am to 1600 pm, Friday 09:00 to 12:00pm Gambian time.

Expressions of interest can be delivered in a written form or electronically to the address below (in person, or by mail, or by e-mail) by 4th April, 2024 @11:00am, Gambian Time.

West Africa Coastal Areas Resilience Investment Project 2

Ministry of Environment, Climate Change and Natural Resources (MECCNAR)

Behind Pipeline Mosque, Opposite SRC Clinic,

Kairaba Avenue, Kanifing, The Gambia

Tel: (+220) 7930099/3363055

E-mail: [email protected] [email protected] ; [email protected]