The Oslo Center was established in 2006 as an independent, non-partisan, non-governmental organization. The main areas of work have been peace, democracy and human rights, and through the years the mission of the Center has increasingly focused on democracy assistance.

The Scope

The scope of the audit includes a financial audit as well as a compliance and performance audit.

The financial audit must be carried out in accordance with International Standards on Auditing (ISAs). Other frameworks of auditing than ISAs are accepted as a basis for the audit provided these frameworks result in an audit equivalent to an audit planned and performed according to the ISAs and International Federation of Accountants (IFAC). This will require the audit company to plan and perform procedures based on risk assessment and materiality.

Therefore, the audit company must:

• Identify and assess risks of material misstatements of the financial statements, whether due to fraud or error. Based on the risks identified, the auditor must design and perform relevant audit procedures to obtain sufficient and appropriate audit evidence to serve as the basis for the auditor’s opinion.
• Obtain an understanding of the internal controls relevant to the audit, in order to design appropriate audit procedures. The purpose is not to express an opinion on the effectiveness of the internal controls, but whether these controls pertain to the project costs.
• Evaluate the appropriateness of the accounting policies used in the financial statements, including the reasonableness of estimates and related disclosures. In relation to funds granted through the donor, this is particularly relevant for accounting policies regarding project costs.

Auditor’s Qualifications.

The auditor must satisfy the following minimum requirements:

• A legal entity in Kenya with business license granted by appropriate authority.
• A member of a professional body affiliated with the International Federation of Accountants (IFAC) and Institute of Certified Public Accountants of Kenya (ICPAK).
• Have adequate relevant professional and educational qualifications, or able to provide audit staff with adequate qualifications, experience, and competence.
• Technically competent and able to conduct audit in line with the auditing standards.
• Objective and independent from the project, its staff, and activities, and from all aspects of management or financial interests of The Oslo Center.
• Possesses proven track record in financial audit of INGO projects, or audits of similar nature, type, and complexity, or donor-funded projects.