Opportunities Industrialization Centers Ethiopia (OICE) invites qualified audit firms to submit proposals for auditing their financial statements for the period January 1, 2025 - December 31, 2025.

Invitation to Bid

BACKGROUND

Opportunities Industrialization Centers Ethiopia (OICE) is a nonprofit, non-governmental local organization licensed by the Federal Democratic Republic of Ethiopia Authority for Civil Society Organizations (ACSO) under registration number 0187. OICE was established to contribute to the sustainable social and economic development of poor and vulnerable women and youth, returnees, and refugees in Ethiopia through integrated, market-driven vocational skills development, capacity building, and sustainable job creation initiatives. OICE undergoes regular annual financial statement audits conducted by external auditors. The organization has established systems, processes, and procedures for accounting, internal control, and financial management, and utilizes the Peachtree accounting system in compliance with international accounting standards.

OBJECTIVES OF THE AUDIT

The objective of the audit of OICE's financial statements is to enable the auditors to express an independent professional opinion on the financial position of OICE and to ensure that funds utilized for OICE activities have been used for their intended purposes for the period January 1, 2025-December 31, 2025.

The books of accounts of OICE provide the basis for the preparation of the financial statements. Proper books of accounts, as required by law, have been maintained to document all transactions.

SCOPE OF THE AUDIT

The audit shall be carried out in accordance with International Auditing Standards and shall include tests and verification procedures as deemed necessary by the auditors. The scope shall include, but not be limited to, the following:

•         Verification that all funds have been used in accordance with OICE's established rules and regulations and solely for the purposes for which they were provided.

•         Confirmation that goods, works, and services financed were procured in accordance with OICE's established rules and procedures.

•         Verification that appropriate supporting documents, records, and books of accounts relating to all activities have been properly maintained, and that clear linkages exist between the books of accounts and the financial statements presented

•         Confirmation that the financial statements have been prepared by OICE management in accordance with applicable accounting standards and present a true and fair view of the financial position, receipts, and expenditures of OICE for the period ended.

•         A comprehensive assessment of the adequacy and effectiveness of the accounting and overall internal control systems used to monitor expenditures and other financial transactions.

•         Expression of an opinion on the reasonableness of the financial statements in all material respects.

•         Inclusion in the audit report of an opinion on compliance with procedures designed to

•         provide reasonable assurance of detecting material misstatements due to error or fraud.

•         Conduct entry and exit meetings with the Executive Director and Finance Team of OICE. In addition to the audit report, the auditors shall prepare a management letter addressing the following:

•         Comments and observations on the accounting records, procedures, systems, and controls examined during the audit.

•         Identification of specific deficiencies and areas of weakness in systems and controls, along with recommendations for improvement.

•         Reporting on the implementation status of recommendations from previous audit reports.

•         Communication of matters that came to the auditors' attention during the audit, which may have a significant impact on the sustainability of the organization.

•         Bringing to the Executive Director's attention any other matters the auditors consider

•         necessary.

DELIVERABLES

Upon completion of the audit, the auditors shall submit:

•         Three (3) original copies of the audit report appended to the financial statements addressed to the Executive Director.

•         A management letter in accordance with the scope described above

•         Presentation of the audit report to the OICE General Assembly and Board of Directors. Audit Duration:

•         The audit work shall be completed within two (2) weeks from the date of contract signing.

QUALIFICATION

Any authorized audit firm or auditor applying must meet the following mimum criteria:

•         The lead auditor must hold at least a Master's Degree in Finance, Accounting, Auditing, or a related field.

•         A minimum of four (4) years of proven experience providing audit services to civil society organizations.

•         Certification by the Accounting and Auditing Board of Ethiopia (AABE).

•         Proven knowledge of auditing, grant management, and financial management in NGO environments.

•         Strong communication skills in English and Amharic.

HOW TO APPLY

Interested audit firms that meet the above requirements may submit their technical and financial proposals in a sealed envelope, accompanied by a renewed business license and other relevant corporate documents. Submission must be made in person to OICE head office during business hours within ten (10) days from the date of announcement.

•         Office Location: Around Inkulal Fabrica Square, In front of Embilta Hotel Telephone:

•         Office: +251-11-27-50-151

•         Mobile: +251-9-11-55-79-26

Opportunities Industrialization Centers Ethiopia (OICE)