Position: TOR Audit and Financial Services

Background
Palladium is global leader in the design, development
and delivery of Positive Impact – the international creation and measurement of enduring social and economic value. We work with corporates, governments, foundations, investors, communities and civil society to formulate strategies and implement solutions that generate lasting social, environmental and financial benefits.
Palladium operates in Tanzania through two local legal entities: Futures Group Global Outreach (FGGO) Tanzania has been operational since 2011. Palladium Group (Tanzania) Ltd has been operational since August 2016. These are described as operating entities.

Objective
Palladium requires ongoing financial advice and annual audit of each operating entity to ensure compliance with statutory regulations and laws in Tanzania.
The required advice and services covers all aspects of revenue laws related to direct or indirect taxation, treaties including double taxation treaties, corporate law reporting and submissions. The purpose should be to keep abreast of statutory requirements for operating (mainly financial) and inform of any changes in the rules, laws and policies and providing an interpretation of the changes if requested.

Scope of Work – External Audit
These terms of reference address the requirement for external audit of financial statements of Futures Group Global Outreach Tanzania – FGGO for the three calendar years from 2014 to 2016, each lasting from 1 January to 31 December. This required immediately
Palladium Group (Tanzania) Ltd since establishment – August 2016

Scope of Work – Financial Services
  • Preparation and submission periodic corporate tax, VAT, payroll tax and other statutory returns. Preparation and submission of refund applications.
  • Advice on local statutory compliance and any changes to the legal or regulatory environment, including advice on payroll-related filing, record keeping and accounting.
  • Advising on tax systems, income tax implications associated with new or proposed transactions, corporate taxes and all withholding taxes.
  • Preparation of a compliance calendar that shows key dates of all filings, including all tax and other statutory returns and items such as board meeting/AGM submissions.
  • On demand assistance with any regulatory queries including advice on the interpretation of changes in law.
Deliverables:
  • Annual audited statements, asset verification and management letter for each.
  • Audited statements for past three years for FGGO Tanzania.
  • Periodic tax returns and refund claims.
  • Compliance calendar.
  • Ongoing advice.

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Duration of the engagement:
  • Three years contract duration.
Methodology:
  • Visits to the office periodically and at least annually to examine all accounting records and for the verification of assets for that period. Review should include review all payroll documentation. Both operating entities located in the same office in Dar es Salaam and serviced by the same employees.
  • Auditor Profile
  • Expression of Interests (EOIs) are invited from the International Chartered Accountants or Certified public Accountants in Public Practice who have registered with National

Board of Accountant and Auditor ( NBAA) with the following additional criteria:
  • Experience in conducting similar audit assignments of international development programmes. Provide brief profile of a firm showing list of Partners and permanent staff
  • Prior experience in auditing DFID/USAID/CDC programmes a significant asset. Provide details of largest similar assignment completed successfully by the firm in the last 5 years
  • Availability to start with the immediate audit of last three years’ financial statements of FGGO (or by the 1st April 2017) is also a significant asset.
EOIs must reach at the address mention below by 10th March 2017 at 2.30PM in sealed envelopes marked “EoI for FGGO Statutory Audit and Financial Services”

APPLY ONLINE THROUGH

Director of Finance and Administration
Mwai Kibaki Road/Kiko Avenue, Mikocheni Area
TCRS Building, 2nd Floor
BOX 76724,
Dar Es Salaam, Tanzania
Tl: +255 22 270 1542

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