Request for Proposals for appointment of the Statutory Auditors (including the Terms of Engagement)
The South Centre is the inter-governmental policy research institution of developing countries, with a current membership of 54 developing countries from Africa, Asia and the Pacific, and Latin America and the Caribbean. The South Centre promotes more effective South-South cooperation and coordination, supports developing countries in participating in and voicing their development interests and priorities more effectively in various multilateral and regional development policy-related issues and fora, and provides policy advice and technical assistance to governments on their national development-related policies.
The audit will be conducted in accordance with the International Standards of Audit. The scope of the external audit engagement will include:
- Opinion on the annual statutory financial statements;
- Confirmation of existence of internal control systems over financial reporting; and
- Opinion on the South Centre Provident Fund annual financial statements.
The external auditors are a key assurance service provider to the South Centre, extending to an on-going business advisory support in determining the accounting and reporting obligations due to changes in operational policies, internal control environment or as necessitated by the changes in accounting policies as well as any other applicable statutory obligations. To that effect, the external auditor will issue a management letter including recommendations for improvements in controls and procedures.
By virtue of the audit engagement, the external auditors will report to the Finance Committee and, if needed, to the Board on an annual basis. Other ad-hoc attendance at the Audit and Ethics Committee and the Board may also be required.
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