Expression of interest SFD calls for Expressions of Interest (EOI) from Audit Firm, who have the capacity to audit the Projects financial statements (PFSs) of “Development of Islamic Micro-Finance”, The auditors will express an independent professional opinion on the Project Financial Statements (PFS) show true and fair presentation of the Project’s financial position for the period from September 15, 2012 through September 30, 2014. Scope of Work: The audit of Project accounts and funds flow is considered as special purpose contractual agreement audit which in addition to compliance with International Standard on Auditing, the auditor need to consider the Islamic Bank reporting requirements, compliance with the Bank Procurement Guidelines. The audit scope includes: a. All funds provided to the Project have been used, accounted for and classified in accordance with the relevant financing agreements. b. Goods and services financed have been procured in accordance with the relevant financing agreement. c. All necessary copy of supporting documents, records, and accounts have been kept in respect of all project ventures. Clear linkages should exist between the books of account and reports presented to the Bank. d. Where Special Accounts have been used, they have been maintained in accordance with the provisions of the relevant financing agreement; e. Determine eligibility of expenditures claimed under Statement of Expenditures submitted to the Islamic Bank for replenishment. f. Review all correspondences with the Islamic Bank in relation to the Project including copies of the Aide Memoires, Mission Reports, and assess progress on all financial issues. g. The auditor will review of the SFD internal Audit Reports concerning the project when determining the sample of NGOs and ultimate beneficiaries that will be visited under the audit operation. The sample selected should be on a risk-based approach using all the available reports and correspondence at the SFD. h. At the level of ultimate beneficiary, selected within the audit sample, the auditor will ensure the reasonability of the use of Operating Cost. Strategy and Organization: The auditors are responsible for the formulation of an opinion on the PFSs based on their audit conducted in accordance with ISAs (International Standards on Auditing) issued by the IFAC (International Federation of Accountants) or ISSAIs (International Standards of Supreme Audit Institutions) issued by the INTOSAI in the case of the SAI. National Auditing Standards that comply with ISAs or ISSAIs in all material respects will also be accepted. In accordance with these standards, the auditors will request the Project Management for an Engagement/ Confirmation Letter committing the financial Department management to the preparation of the PFSs and maintenance of proper internal control systems as well as acceptable documentation for all financial transactions Assignment Objective: The objective of the audits of the Projects financial statements (PFSs) is to enable the auditors to express an independent professional opinion on the Project Financial Statements (PFS) show true and fair presentation of the Project’s financial position for the period from September 15, 2012 through September 30, 2014 and funds receipts and expenditures incurred during the period then ending, the auditor shall carry out whatever necessary examinations of the statements and underlying records and control systems. The Audit opinion should also state whether the Procurement Guidelines of the Islamic Bank have been properly applied and in accordance with the Project's Agreement. Qualifications: The audit firm should be registered and have a license from a national or regional professional Accountancy Body. The firm should have relevant experience in accounting and auditing of development projects, especially donor-funded operations. The key audit team will comprise, at least: a. An audit manager with at least 10 years’ experience in auditing and with a sound knowledge of donor-financed projects. In addition he/she should be a member of recognized accountancy professional body. b. A team leader with at least a Master's degree in auditing/accounting equivalent with a minimum of 5 years’ experience in auditing; and c. An assistant auditor with adequate experience and professional qualifications. Submission details: The Letter of EOI & The CVs marked by “Expression of Interest from Audit Firms, who have the capacity to audit the Projects financial statements (PFSs) of “Development of Islamic Micro-Finance” will be received by 12:00 noon on January 12th, 2013. Social Fund for Development, 114 Mohi el Din Abou EL EZZ St. Dokki GIZA Egypt. Tel: (+202)33367026, Fax: (+202) 33366745 Email: nabdeen@sfdegypt.org