CALL FOR EXPRESSION OF INTEREST - EXTERNAL AUDITING SERVICES

CALL FOR EXPRESSION OF INTEREST - EXTERNAL AUDITING SERVICES

The Women’s University in Africa’s vision is to be the best University in Africa in the promotion of gender equity and equality in higher education. Its mission is to reduce gender disparity by providing gender-sensitive and socially responsible education and innovative research skills training in order to spur industrialisation and empower mostly female students for leadership and developmental roles. WUA is guided by its core values which are honesty, integrity, professionalism, accountability, reliability and efficiency. WUA seeks to enhance women’s capacity through the provision of higher education, which enables their fulfilment of political, economic, social and leadership roles. In addition to its investment in higher education, the University also has two business oriented subsidiaries namely, Hope Fay Hotel and Conference Centre as well as Helianth Farm in Marondera.

In a bid to ensure sustainable achievement of its mission, the Women’s University in Africa is seeking the provision of external audit services for the years 2024 – 2026 from a reputable firm. Interested audit firms may obtain detailed Terms of Reference (TOR) at the address below during office hours (0800 hours – 1600 hours) or download them from the WUA website www.wua.ac.zw Expressions of interest must be delivered to the address below or emailed to This email address is being protected from spambots. You need JavaScript enabled to view it. by Monday 23 September 2024 at 0900 hours. The opening of the bids will commence at 1000 hours on the same day.

 

TERMS OF REFERENCE FOR EXTERNAL AUDITING SERVICES 

The Women’s University in Africa’s vision is to be the best University in Africa in the promotion of gender equity and equality in higher education. Its mission is to reduce gender disparity by providing gender-sensitive and socially responsible education and innovative research skills training in order to spur industrialisation and empower mostly female students for leadership and developmental roles. WUA is guided by its core values which are honesty, integrity, professionalism, accountability, reliability and efficiency. WUA seeks to enhance women’s capacity through the provision of higher education, which enables their fulfilment of political, economic, social and leadership roles. In addition to its investment in higher education, the University also has two business oriented subsidiaries namely, Hope Fay Hotel and Conference Centre as well as Helianth Farm in Marondera.

In a bid to ensure sustainable achievement of its mission, the Women’s University in Africa is seeking the provision of external audit services for the years 2024 – 2026 from a reputable firm.

 

Duties and Responsibilities of the Auditor

The external auditor shall be required to perform risk based audits, compliance audits and performance based audits.

Roles, duties and responsibilities shall include the following (TORs):

  1. Conducting independent and objective audits of WUA operations and financials in line with International Standards on Auditing and International Financial Reporting Standards (IFRS)
  2. Expressing an opinion on as to the reasonableness of the financial statements of WUA in all material respects.
  3. Verify that all funds have been used in accordance with the established rules and regulations of

WUA and only for the purposes for which the funds were provided.

  1. Reviewing and evaluating WUA’s internal control system and advising Management, Council and the Board on adequacy/effectiveness of the system and proposals for its improvements.
  2. Assessing utilization of resources for effectiveness, efficiency and economy as well as identification of opportunities for improvement.
  3. Ensuring that the organisation adheres to corporate governance requirements and the enabling
  4. General review of implementation of the Charter to ascertain whether WUA is consistent with
  5. Providing any other value-addition services as approved by

 

Required Profile of the Audit Firm 

Bidding firms will be required to meet the following criteria:

  1. Be registered with the Public Accountants and Auditors Board (PAAB) Zimbabwe and must hold a current registration
  2. Have at least two (2) partners of good standing with the Further, the firm and its partners should not have been subject to any disciplinary action by PAAB or other related professional bodies.
  3. Should have been in operation for a period of at least five (5) years.
  4. Should demonstrate that it has the capacity, capability and experience required to undertake the audit within required timelines.
  5. The firm should demonstrate adequate experience in auditing Institutions of Higher

 

Request for Proposal Submission

  1. Firms meeting the above criteria are requested to submit their proposals in a sealed envelope as follows:
    • Technical Proposal containing;
      • Confirmation of the firm’s understanding of the Terms of Reference (TORs) and its capacity and capability to deliver on the TORs.
      • The methodology, work-plan and timelines for undertaking and completing the assignment and the deliverables.
      • Appropriate references to demonstrate the experience specified in the
      • The CVs of key staff proposed to carry out the
    • Financial proposal indicating the proposed fees for a regular audit and any incidental expenses;
    • Other Requirements;
      • Proof of registration with PAAB and copies of practicing certificates of partners and/or key
      • Confirmation that the firm and/or its partners and key staff are not aware of any conflict of interest which may exist with respect to WUA.
      • A list of clients for which the firm has performed similar
      • Details of at least three (3) prior audit assignments, including the contact details of the references.  

 

Expressions of interest must be delivered to the address below emailed to This email address is being protected from spambots. You need JavaScript enabled to view it. by Monday 23 September 2024 at 0900 hours. The opening of the bids will commence at 1000 hours on the same day.

Attention: The Registrar

Expression of Interest for External Auditing Services

Women’s University in Africa

No. 549 Arcturus Road

Manresa Park

Harare

 

Tel:+263 242 459601/86 1137 6897

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