Farm Radio International (FRI) is a Canadian non-profit organization with a mission to support broadcasters in developing countries to strengthen small scale farming and rural communities. For detail information’s please visit our web site; www.farmradio.org

Job Description

TERMS OF REFERENCE FOR AN EXTERNAL AUDITING FOR FARM RADIO INTERNATIONAL GHANA COUNTRY OFFICE

The following are the Terms of Reference (TOR’s) on which Farm Radio Ghana ’the beneficiary’ agrees to engage ‘The Auditor’ to perform expenditure verification and to report in connection with all Farm Radio related projects in Ghana for year 2012/13 and 2013/14.  Where in these TOR is the contracting authority is mentioned this refers to the FRG Commission which has been implementing all FRI projects in Ghana.

Responsibilities of the parties to the Engagement

‘The Beneficiary refers to the organization that is receiving the funding and that has signed the Contract with the Contracting Authority.

The Beneficiary is responsible for providing financial documents for the following;

HERE ARE SOME CHECK LIST OF ITEMS REQUIRED FOR AUDIT

AUDIT: YEARS ENDED 31 MARCH 2013 AND 31 MARCH 2014

FINANCIAL STATEMENTS AND SCHEDULES

•   Trial Balance at 31 March 2013 and 31 March 2014.
•    Schedule of grants received during the period showing:
1) The dates when individual amounts were received.
2) Amount received in foreign currency
3) Applicable exchange rate
4) Equivalent amount in Ghana Cedis
5) Bank account to which it was deposited
•   Approved donor budget.

ACCOUNTING WORK TO BE COMPLETED

Please note that the following accounting work would need to be completed before the above print outs are produced

•   Summary of income received during the year showing dates, foreign currency, applicable exchange rates and equivalent amount in Ghana Cedis relating to the income.
•   Bank reconciliations for all bank accounts, from 1 April 2012 to 31 March 2013 and 1 April 2013 to 31 March 2014.
•   Analysis and details relating to debtors, prepayments, creditors and accruals, if any, Advances
•   Reconciliation of the salaries control account to agree with NSSF and PAYE payable at the period ends.
•   A Fixed Assets register showing addition and disposals

AUDIT: YEARS ENDED 31 MARCH 2013 AND 31 MARCH 2014

RECORDS TO BE REVIEWED DURING THE AUDIT

We would also draw your attention to the following additional records that we will need to review during the course of the audit:

•   Bank statements, cheque books, paying in slips.
•   Receipt books and summary sheets showing audit trail to the ledger.
•   Payment vouchers with their supporting documents.
•   Minutes of any Board Meetings.
•   Minutes of regular Management Meetings.
•   A print out of the entire General Ledger that agrees to the draft accounts submitted for audit.
•   Personnel files.
•   Payrolls.
•   NSSF and GRA receipts
•   Cash count certificates for cash balances held at 31 March 2013 and 31 March 2014.
•   Any other relevant documents.

PAYROLL PARTICULARS

•   Summary of payroll showing:
•   Names of all staff
•   Gross emoluments
•   Employers NSSF contribution

STATUTORY RECORDS

•   Memorandum and Articles of Association (By-Laws)
•   Certificate of Incorporation, if any
•   Latest Annual Returns, if any

NARRATIVE REPORT

Although a separate Annual Report is produced by the organisation, there is a growing demand for the accounts of companies limited by guarantee and Non-Governmental Organisations to be accompanied by more detailed / informative narrative Management Reports. The information in the narrative report could be summarized from the Annual Report on 4 to 6 pages and attached to the accounts.  This report may include the following information:

•   Mission and objectives of the Organization
•   Strategies through which the objectives will be accomplished
•   Significant events in the reporting period
•   Significant variances between actual and planned activities
•   Key partners or donors
•   Members who served on the Board of Directors during the reporting period
•   Any other relevant information

The Beneficiary is responsible for providing sufficient and adequate information, both financial, in support of the Financial Report as indicated above.

The Beneficiary accepts that the ability of the Auditor to perform the procedures required by this engagement effectively depends up on the Beneficiary, and as the case may be his partners, providing full and free access to the Beneficiary’s staff and its accounting and bookkeeping system and underlying accounts and records.

‘The Auditor’ is responsible for performing the agreed –upon procedures as specified in these ToR and for submitting report of factual findings to the Beneficiary. ’Auditor “ refers to the audit firm contracted for this engagement and in particular to the partner  or other person in audit firm who is responsible for the engagement and for the report that is issued on behalf of the firm, and who has appropriate authority from a professional, legal or regulatory body.

Subject of  the Engagement

The subject of this engagement is the interim Financial Report in connection with the Contract for the period covering 1 April 2012 to 31 March 2014.

Engagement Type and Objective

This expenditure verification is an engagement to perform certain agreed-upon procedures with regard to the financial report for the Contract. The objective of this expenditure verification is for the Auditor to carry out the specific procedures listed above to these ToR and to submit to the Beneficiary a report of factual findings with regard to the specific verification procedures performed. Verification means that the Auditor examines the factual information in the financial report of the beneficiary and compares it with the terms and conditions of the Contract. As this engagement is not an assurance engagement the Auditor does not provide an audit opinion and expresses no assurance. The Contracting Authority assesses for itself the factual findings reported by the Auditor and its own conclusions from these factual findings.

Standards and Ethics

The Auditor shall undertake this engagement in accordance with:

•   The international Standards on Related Services (ISRS’) 4400 Engagements to perform Agreed upon Procedures regarding financial Informationas promulgated by the IFAC;
•   The Internal Revenue Act 2000 (Act 592) by Amendment in 2012 by (Act 839).
•   The Code of Ethics for professional Accountants issued by the International Financial Reporting Standards (IFRS,IASB,IFAC), although ISRS 4400 provides that independence is not a requirement for agreed –upon procedures engagements, the contracting authority requires that the auditor is independent from the beneficiary and compiles with the independence requirements of the code of ethics for professional Accountants.

Procedures, Evidences and Documentation

The Auditor plans the work so that effective expenditure verification can be performed. The auditor performs the procedure listed above of these ToR (‘listing of specific procedures to be performed). The evidence to be used for the performing the procedures above are all financial and non-financial information which makes it possible to examine the expenditure claimed by the beneficiary in the financial report. The auditor uses the evidence obtained from these procedures as the basis for the report of factual findings. The auditor documents matters which are important in providing evidence to support the report of factual findings and evidence that the work was carried out in accordance with ISRS 4400 and these Terms of Reference.

Reporting

The report on this should be expenditure verification should describe the agreed-upon procedures and the factual findings of the engagement in sufficient detail in order to enable the Beneficiary and the Contracting Authority to understand the nature and extent of the procedures performed by the Auditor and the factual findings reported by the Auditor. There should be a recommendation and advice on improving the financial system and procedures in Farm Radio Ghana.

This report should be provided by the Auditor to the Country Director within two weeks after completion of the audit work.

Other Terms

Payment Arrangement:

The fee for this engagement shall be negotiated. However, payment including VAT shall be made after completing of the Audit Fee.

Audit starts on November 10 and draft Audit report will be submitted on 10 January, 2014.

•   Annex 1      Information about the Contract
•   Annex 2      Listing of specific procedures to be performed as indicated above
•   Annex 2B   Guidelines for specific procedures to be performed
•   Annex 3       Model report for an expenditure verification

Qualification Required & Experience

By agreeing these Terms of Reference the Auditor confirms that he/she meets at least one of the following conditions:

•   The Auditor and/or the firm is a member of a national accounting or auditing body or institution which in turn is member of the International Federation of Accountants (IFAC).
•   The Auditor and/or the firm is a member of a national accounting or auditing  body or institution, Although this organization is not member of the IFAC, the Auditor commits  him/herself to undertake this engagement in accordance with the IFAC standards and ethics set out in these ToR.

Location: Accra

How To Apply For The Job

Applications and supporting documents sent by e-mail should be directed to:

office@farmradiogh.org

Closing Date: 19 October, 2014

•   FRI is an equal opportunity employer.
•   Only those candidates selected for an interview will be contacted.
•   No telephone calls please