WACREN is soliciting from qualified firms or professional auditors, proposals to carry out a systems audit for the organization’s governance, operations and internal control systems.
The objective of the systems audit is to assess current WACREN governance and procedures, including financial management, human resources management and other critical policies.
The scope of work of the systems audit covers the design and operating effectiveness of the Internal Control System and other processes. These include;
- Understanding the design of the entity’s internal Control System;
- Testing of identified controls;
- Assessment of the main risks to the achievement of the objective of various WACREN projects;
- The risks to any project funding provided not being used in conformity with the applicable Contractual Conditions;
- The risks of weakness and deficiencies in the design or operating effectiveness of internal controls;
- The risk of error with regard to various projects funded for WACREN;
- The risk of irregularities with regard to various projects funded for WACREN;
- The risk of fraud with regard to various projects funded for WACREN;
- Assessment of whether the design of the internal control system sufficiently mitigates the above risks and whether it is operating effectively;
- Reporting the results of the audit in accordance with IFAC international Framework for Assurance Engineering and ISAE 3000 and, if applicable, providing recommendations to improve or modify processes.
