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REQUEST FOR PROPOSALS: Financial Audit Service for WRI Indonesia Projects

SUMMARY OF PROCUREMENT

WRI Indonesia intends to award a Fixed Price (to be supported by deliverables & invoices) type contract to carry out an audit of the financial reports of 4 (five) projects. The chosen vendor will submit deliverables for approval to and work closely with the WRI Indonesia team. The contract will be signed by WRI Indonesia and will be paid from WRI Indonesia accounts, following Indonesia regulations.

About WRI Indonesia

WRI Indonesia is an independent research organization dedicated to contributing to the socioeconomic development of Indonesia in an inclusive and sustainable way. Our work is focused on six main areas: forests, climate, energy, cities and transportation, governance, as well as ocean. We turn big ideas into action at the nexus of environment, economic opportunity, and human well-being.

Established in January 2014 with its headquarter in Jakarta, WRI Indonesia is a non-profit research organization affiliated with the World Resources Institute, a global environmental think tank based in Washington D.C. WRI has a research network of over 450 experts and staff in more than 50 countries with offices in China, India, Indonesia, Europe and the United States. In Indonesia, we have run projects with partners for over 20 years, and WRI Indonesia was formally launched to build a robust in-country presence, to formalize existing partnerships, as well as strengthen our research on the ground.

About the Project or Program Name

  1. Global Forest Watch (GFW)

The World Resources Institute's (WRI) Food, Forest, and Water Program is awarded a grant to WRI Indonesia amount of US$249,998. - to support of a project GFW Commodities in Indonesia for the period from March 01, 2019, through December 31, 2021. Subgrant agreement has been amended several times to change subgrant amount and to extend project period to December 31, 2021. The project financial report will be audited is for period January – December 2021 with the expenditures amount of $72,316

  1. Cities4Forests (C4F)

The World Resources Institute's (WRI) is awarded a grant to WRI Indonesia amount of US$269.301.- to support of a project entitled “Advancing Cities4Forests in Indonesia” for the period from July 01, 2019, through April 30, 2022.

  1. Wood Identification (Wood ID)

The World Resources Institute's (WRI) is awarded a grant to WRI Indonesia amount of US$98,211. - to support of a project entitled “Avoiding illegal deforestation through application of wood identification (ID) technologies in strengthening law enforcement in Indonesia” for the period from 1 October 2021 – 30 September 2022.

The project objectives are:

• Exploring different uses of wood ID technologies in different stages of timber traceability system to enforce law and avoid illegal timber trading,

• Wood sample collection of high significant timber species in illegal timber trade for wood reference development,

• Engagement to law enforcement stakeholders, wood scientists, and implementing partners for future work.

  1. Low Carbon Development Initiative (LCDI) 2.0 Extension

The World Resources Institute's (WRI) is awarded a grant to WRI Indonesia amount of US$589,341. - to support of a project entitled “Low Carbon Development Initiative 2 (LCDI 2) Program” for the period of 11 April 2022 – 30 September 2022.

The Purpose of project is to provide a smooth transition to a full scale LCDI phase 2, as well as to fill the gap in supporting BAPPENAS and the LCDI Secretariat until the full-scale project of LCDI phase 2 is officially started. This will include involvement for key staff in WRI Indonesia managing and executing activities in the following areas: Capacity Building Support, Communications, and Engagement.

Information about the audit can be found in below summary:

Project Code Project Name Period of audit Budget / expenditures Audit timeframe Auditing Standart Additional standart
50045 GFW Jan 2021 - Dec 2021 $72.316 10 - 25 Oct 2022 ISA800 & ISA805 None
50050 C4F Jan 2019 - Dec 2020 $89.550 10 - 25 Oct 2022 ISA800 & ISA805 Flow down requirement Norwegian Ministry Of Climate and Environtment (KLD)
50050 C4F Jan 2021 - Dec 2022 $179.751 10 - 25 Oct 2022 ISA800 & ISA805 Flow down requirement Norwegian Ministry Of Climate and Environtment (KLD)
50088 Wood ID Oct 2021 - Sep 2022 $98.211 10 - 25 Oct 2022 ISA800 & ISA805 Flow down requirement Norwegian Agency for Development Cooperation (Norad)
50107 LCDI 2.0 extension Apr 2022 - Sept 2022 $589.341 10 - 25 Oct 2022 ISA800 & ISA805 Flow down requirement U.K.Foreign, Commomwealth & Development Office
$1.029.169

SCOPE OF WORK AND OUTPUTS/DELIVERABLES

A . The audit will be carried out in accordance with International Standards of Auditing (ISA800 or ISA805), and will include such tests and controls, as the auditor considers necessary under the circumstances. In conducting the audit, special attention should be paid to the following:

a. All funds have been used in accordance with the term and conditions of the subgrant agreements, with due attention to economy and efficiency, and only for the purposes for which the financing was provided.

b. Consideration of internal control over financial reporting and compliance with the term of the subgrant agreement.

c. Test transactions and balances to ensure that the information presented in the financial report to Donor are reasonably correct.

B . Planning, procedures, documentation, and evidence

The Auditor should plan the work so that effective audit can be performed. For this purpose, auditor performs the procedures but not limited to the following procedures:

  1. Select the operational expenses related to the project, based on test. Auditor to select number of expenses to be tested (Nonlabor expenses)
  • Check if payments made refer to expenses of a nature related to the project. For the selected expenses, auditor to verify the nature of cost and whether they were related to the project; verify the bank slip and that all the payments are in accordance with the amount stated in the receipts.

  • Review of contract with service providers to ensure the work performs are related to the project.

  • Settlement of advances granted to the project staff Verify advance given to project staff to ensure advance disbursement related to the project, advance dully settled.

  • Verification of receipts and appropriation of project resources Inspect grant/subgrant agreement between the Donor and WRI Indonesia in reference to the projects to identify total resource as indicated in the budget. Assess cash flow from the Donor to WRI Indonesia related to the projects and identify any difference between fund requested and cash receipt. Identify exchange rate fluctuation impact to projects fund.

  • Verify the transaction to ensure the adherence with the Donor flow down requirement.

  • Verification of payment conditions for the purchase of fix assets if any.

  1. Payroll – select employees allocated to the projects. Auditor to identify the employees allocated to the project and select the number to be tested.
  • Check if employees involved in the project are included in the payroll.

  • Recalculation of payroll levies and benefits

  • Verify the payment of salaries by means of transactions in bank statements. Identify payments made to employees allocated to the projects, checking them against the analytical payroll and bank statements.

  1. Examine procurement of good or service to ensure comply with funder flow down policies.

Auditor uses the evidence obtained from these procedures as the basis for the report of factual findings. The Auditor should document 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 ISA and each project’s Term of Reference (TOR).

C . Financial Status Expenditure Report Financial Status Expenditure Report should include:

  • A summary of comparison of expenses against the budget.

  • Financial report should be in USD.

D . Audit Report

The auditor will issue an opinion on the Financial Status Expenditure Report (FSR). The audit report should be prepared separately for each project. The project audit report should include a separate paragraph highlighting key internal control weaknesses and non-compliance with the financing agreement terms.

E . Management Letter In addition to the audit report, the auditor will prepare a management letter for each project, in which the auditor will:

  • Give comments and observations on the accounting records, systems and controls that were examined during the course of the audit;

  • Identify specific deficiencies or areas of weakness in systems and controls, and make recommendations for their improvement;

  • Report on the degree of compliance of each of the financial covenants in the financing agreement and give comments, if any, on internal and external matters affecting such compliance;

  • Communicate matters that have come to his/her attention during the audit which might have a significant impact on the implementation of the project;

  • Bring to the recipient’s attention any other matters that the auditor considers pertinent, including ineligible expenditures.

TIMING

Activities Date
Field Work October 26th – Nov 04th , 2022
Draft Audit Report November 11th , 2022
Final Audit Report November 16th , 2022

BUDGET

Please outline your audit in fee in Indonesia Rupiah (Rp). The budget should show amount fee for each project and total.

The cost of preparing a proposal and conducting the pre-proposal survey or any meetings for verbal presentations shall be borne by the bidder, regardless of the conduct or outcome of the solicitation process. Proposals must offer services for the total requirements. All proposals must remain valid and open for acceptance for a period of 45 (forty-five) days after the date specified for receipt of proposals.

GUIDELINES FOR PROPOSAL SUBMISSION

Requirements

The selected vendor, etc. will be able to demonstrate capacity in similar work, particularly:

• Criteria 1

The Auditors or Audit team members should hands-on experience in conducting special project audit. Hands-on experience in conducting special project audit funded by Norad and UK is required.

• Criteria 2

The Auditors must possess qualified methodology and work procedure to perform this audit and meet timeline setup

• Criteria 3

The Auditors or Audit team members must have adequate knowledge of English since organization financial & accounting policy and most of transactions are in English.

• Criteria 4

Curriculum Vitae (CV) of audit firm principal who would be signing the opinion will be provided along with Audit team members. CVs should include details on audits carried out by the applicable staff, including ongoing assignments indicating capability and capacity to undertake the audit.

• Criteria 5

To keep all financial or non-financial information secretly/confidential that Auditors or Audit team members obtain during the assignment and compulsory not to use or disclose without written approval from WRI Indonesia.

• Criteria 6

Audit Firm should state its legal nature, principal and partners, number of employees, audit experience, affiliation with abroad Audit Firm if any.

Proposal content

Prospective vendors should submit:

• Company Profile (including sustainability efforts);

• A statement of interest describing the proposed team and how it meets the above requirements;

• CVs of team members;

• Examples of and references for similar previous work;

• An outline of the proposed methodology and workplan;

• A competitive fee (in IDR) and payment schedule associating amounts with work milestones.

The proposal should outline budget for each project separately.

• Statement of corporate legal compliance, please download the statement here.

Expression of Interest, Deadline for Questions, and Proposal

All expressions of interest and questions about this RFP must be received via email to the contact below by October 21st, 2022, at 17:00 (Indonesia time). Answers to the questions will be shared with all parties who have asked questions or otherwise expressed interest.

WRI Indonesia Contact Name: Procurement WRI Indonesia, Cc: Lasiran Silalahi, Zulkifli Title: Procurement, Grant & Finance.

Email address: procurement-indonesia@wri.org, Lasiran.silalahi@wri.org, Zulkifli.zulkifli@wri.org,

All proposals must be sent by October 21st, 2022, at 17:00 (Indonesia time) in electronic format to the same contact listed above.

EVALUATION AND SELECTION

Evaluation Criteria

The following elements will be the primary considerations in evaluating all proposals submitted in

response to this RFP:

• Completion of all required elements (proposal quality);

• The extent to which the vendor’s proposal fulfills WRI Indonesia stated requirements as set out in the RFP and demonstrates an understanding of the issues at hand;

• Experience with similar projects (project portfolio);

• Sustainability – WRI Indonesia values sustainability and all other factors being equal, will favor a proposal to perform the work more sustainably.

• Overall cost of the vendor’s proposal (value for money).

The bidder offering the best overall value will be selected. For this procurement, price and non-price aspects are considered to be of approximately equal importance.

Selection Process

No proposal development costs shall be charged to WRI Indonesia and all expenses are to be borne by the bidders. WRI Indonesia may award to the bidder offering best value without discussions. However, WRI Indonesia reserves the right to seek bidder clarifications and to negotiate with those bidders deemed to be within a competitive range.

WRI Indonesia may, at its discretion and without explanation to the prospective vendors etc., choose to discontinue this RFP without obligation to such prospective vendors.

According to the grant agreement, the project require an audit of the financial statement. The objective of the audit of the financial statement is to enable the auditor to express a professional opinion on the financial position of the Project and of the funds received and expenditures during the project period

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