Overall Responsibility:

To execute monthly audit assignments whilst bringing systematic approach to examine and evaluate the adequacy , effectiveness and efficiency of the organization’s risk management processes, internal control systems and recommend corrective actions to improve efficiency and reduce operational costs where possible.

Auditing Standards

• The internal audit will be carried out in accordance with International Standards on Auditing (ISA) and includes such tests and auditing procedures as the auditor considers necessary for the assignment.

Responsibility for Preparation of Financial Statements

• The responsibility for the preparation of Financial Statements lies with the Light Up Hope.
• The auditor is responsible for the formulation of an opinion on the Financial Statements based on their audit conducted in accordance with ISA (International Standards on Auditing)

Scope of Work

• Review functions and activities in all departments including but not limited to Administration and Logistics Procurement, Human Resources, Finance and Programs to determine the nature of operations, procedures, and related internal controls to achieve organizational goals and objectives.
• Advise management on an ongoing basis, on accounting, reporting, internal control and compliance issues to prevent errors, fraud, irregularities and non-compliance. This includes assessment of whether there are adequate controls over special or complex transactions.
• Determine the accuracy of accounting reports, financial information and the other disclosures provided, providing independent assurance on risk management process on both design and operations.
• Evaluation of risk management frameworks of the operations of the organization and the monitoring of compliance.
• Support in the development and documentation of the organization’s internal and external audit procedures.
• Review and recommend to the management for approval, the Organization ’s quarterly and annual financial statements.
• Identifying, developing and documenting audit issues and recommendations.
• Maintain Audit Recommendation Implementation Matrix/Tracker
• Development and review of internal audit reports.
• Review external audit reports to ensure that there are no unresolved issues of concern, and make the external Auditor aware of any emerging risks, or governance issues.
• Comment on the status of compliance with the national regulations
• Comment on compliance with the internal policies and conventionally accepted operational procedures.

Audit Duration

This is a monthly audit. The audit work shall be completed by 15th of the preceding month.

Deliverables

• The auditor is expected to present two types of reports: An opinion on Light Up Hope Financial Statements and a Management Letter.
• The Management Letter, shall contain:
• Comments and observations on the accounting records, systems and controls that were examined during the course of the audit;
• Specific deficiencies and areas of weakness or in internal systems and controls and make recommendations for improvement;
• Matters that have come to their attention during the audit which might have a significant impact on the implementation of funding and the organization’s integrity position.
• Report on the implementation status of recommendations pertaining the previous months’ audit reports
• Areas of risk that need to be flagged out to management;
• Any other matters that the auditor considers pertinent to be brought to the attention of the management.

General Information

• The auditors shall be given access to all legal documents, correspondence and any other information associated deemed necessary for this process.

Qualification of the Audit Firm/individual

• The Individual or firm seeking to apply should be registered with the Institute of Certified Public Accountants Kenya (ICPAK) and in good standing. They must demonstrate a minimum of 5 years experience in the audit and taxation of not-for-profit entities/charitable organizations.

The following should be provided:

• Certificate of incorporation/registration for the Firm
• Practicing Certificate from ICPAK
• Tax Registration Certificate
• Tax compliance certificate
• Certificate of good standing from ICPAK
• A CV containing a list of at least three clients they have offered similar services to.