Request for Quotation for Auditing Services at (YCI

Request for Quotation for Auditing Services at (YCI

Date: October 2024

RFQ Reference Number: YCI/Y5/A/2024

Subject: Request for Quotation for Auditing Services

1. Introduction

About Youth Challenge International (YCI)
YCI is a leading global youth development organization that promotes youth innovation to drive positive change. Together with our partners we create market ready solutions that catapult youth around the world to succeed and prosper; we are driven by youth and their potential to affect positive change in the world. Our solutions are focused – always keeping the young people we are designing for and with at the center of the conversation. Our approach is rooted in creativity and constantly evolving to respond to changing needs and market realities.  YCI is an organization where diversity and talent come together to shape a better future for youth around the world. 

YCI seeks a qualified auditing firm to provide professional audit services for the financial year April 2023 to March 2024. We invite you to submit a formal quotation in response to this Request for Quotation (RFQ). The selected firm will be responsible for conducting an independent audit in accordance with applicable auditing standards

2. Scope of Work

The auditing services will include but are not limited to the following tasks:

• Examination of the company’s financial records and reports.
• Evaluation of internal controls, accounting systems, and procedures.
• Verification of financial statements to ensure compliance with applicable regulations.
• Reporting on the audit findings, with recommendations for improvements.
• Issuing the final audit report, including financial statement opinions.

Audited Period: April 2023 to March 2024

Expected Start Date: 15th November 2024

Expected Completion Date: 15th December 2024

3. Deliverables

The selected firm will be expected to deliver:

1. Preliminary audit findings report.
2. Final audit report including financial statement opinions.
3. Management letter highlighting any areas for improvement.
4. Any additional reports or documentation required by regulatory bodies.

4. Quotation Requirements

Your quotation should include the following information:

• Company Profile: Overview of your firm, including relevant experience and expertise in auditing services.
• Methodology: Describe your audit approach and procedures to be followed.
• Team Composition: List of the audit team members, including their qualifications and experience.
• Timeline: Proposed timeline for the audit, including key milestones and completion date.
• Cost Breakdown: Detailed breakdown of the fees, including:
  • Audit fees (fixed or hourly rate)
  • Travel and other incidental expenses
  • Any applicable taxes
• References: At least two references from previous clients with similar audit engagements.

5. Evaluation Criteria

Quotations will be evaluated based on the following criteria:

• Relevant experience and expertise.
• Understanding of the scope and audit approach.
• Proposed team and qualifications.
• Timeline for completion.
• Cost-effectiveness of the quotation.
• Quality of references.

6. Submission Guidelines

Quotations must be submitted no later than 10th November 2024 to the following address:

Contact Person: Kefar Mbogela
Email Address: [email protected]
Physical Address: Office No. 602, WING A, Michenzani Mall Zanzibar
Subject Line: “RFQ – Auditing Services for Youth Challenge International”

7. Terms and Conditions

• Youth Challenge International reserves the right to accept or reject quotations without assigning any reason.
• Youth Challenge International’s fixed budget for the auditing services is TZS 3,000,000 to TZS 4,500,000.
• Late submissions will not be accepted.
• The applicant will bear all costs related to the quotation preparation.
• The selected firm must enter a formal contract with Youth Challenge International.

8. Questions and Clarifications

For any questions or clarifications regarding this RFQ, please contact:

Contact Person: Kefar Mbogela, Project Lead
Email Address: [email protected]

Thank you for your interest in providing auditing services to Youth Challenge International. 

We look forward to your quotation.