Call for Proposals (CFP) - External Audit Services

Financial Year Ending 31 December 2025

1. Background

Friends Welfare Association (FWA) is a registered non-governmental humanitarian organization based in Khyber Pakhtunkhwa, Pakistan. Established under the Societies Registration Act, 1860, FWA is registered with the Economic Affairs Division (EAD), certified as an NPO by PCP, registered with FBR under Section 2(36) of the Income Tax Ordinance, 2001, and classified as a Category “A” organization by the Charity Commission Khyber Pakhtunkhwa.

2. Objective of the Assignment

FWA invites sealed Technical and Financial Proposals from eligible, QCR-rated, ICAP-registered Category “A” Chartered Accountant firms to conduct the statutory external audit of its financial statements for the year ending 31 December 2025.

The objective of the assignment is to express an independent audit opinion in accordance with applicable financial reporting and auditing standards.

3. Scope of Audit Services

The audit shall be conducted in accordance with:

• International Standards on Auditing (ISAs) as adopted by ICAP; and
• ICAP Code of Ethics for Professional Accountants.

The scope of work includes, but is not limited to:

• The scope includes verification of expenditures of funded projects, compliance with applicable laws, donor agreements, internal controls, and issuance of an Independent Auditor’s Report and Management Letter.

4. Eligibility Criteria

Interested firms must meet the following minimum requirements:

• Registered with ICAP and classified as Category “A”;
• Hold a valid QCR rating with no adverse findings;
• Demonstrated experience in auditing NGOs and donor-funded projects;
• Free from any conflict of interest with FWA;
• Not blacklisted by any government, donor, or regulatory authority.

5. Proposal Submission Requirements

Firms are required to submit Technical and Financial Proposals:

A. Technical Proposal

• Firm profile, ICAP registration certificate, Category “A” status, and valid QCR certificate.
• Relevant audit experience during the last three years.
• Proposed audit approach and methodology.
• Composition of audit team with qualifications and experience.
• Client references and signed declaration of independence.

B. Financial Proposal

• Audit fee quotation for three (03) consecutive years.
• Detailed breakdown of professional fees, out-of-pocket expenses, and applicable taxes.
• Proposed terms and conditions.

6. Evaluation Criteria

Proposals will be evaluated based on:

• Technical quality and audit methodology.
• Relevant experience with NGOs and donor-funded projects.
• Qualifications and experience of the proposed audit team.
• Compliance with ICAP standards; and
• Financial competitiveness.

FWA reserves the right to accept or reject any or all proposals without assigning any reason.

7. Submission Deadline and Mode

Proposals must be submitted in PDF format via email no later than:

📅 Deadline: 28 January 2025

📧 Email: [email protected] 📧 CC: [email protected]

Late or incomplete submissions will not be considered.

8. Confidentiality and Right to Amend

All information shared during the audit process shall be treated as strictly confidential. FWA reserves the right to amend, modify, or cancel this CFP at any stage without incurring any liability.

For queries: 📧 [email protected]