Request for Proposals (RFP) for Audit Firm Services

Terms of Reference (TOR) for Hiring an Audit Firm

Requirement: Engagement of an Audit Firm for Financial and Tax Compliance Support

Duration: One Year (with the possibility of renewal)

1. Background

Nusaned is a Lebanese non-profit community-based humanitarian and development organization that is apolitical and impartial and believes in the power of collaboration to create a faster and stronger Impact. As part of Nusaned’s commitment to transparency, compliance, and financial integrity, we seek to engage a qualified audit firm to provide comprehensive financial and audit support for one year.

2. Scope of Work

The selected audit firm will be responsible for providing the following services:

1. Quarterly and Annual Income Tax Calculations

• Ensure accurate computation of income taxes in compliance with local Lebanese tax regulations.
• Provide reports on tax obligations and assist in meeting these obligation deadlines.

2. Annual Financial Audit Report

• Conduct an annual financial audit and issue a comprehensive report.
• The final report will be shared with our partners/shareholders and published on our website.

3. Monthly Payroll Tax Preparation

• Calculate and prepare monthly payroll tax reports.
• Ensure timely submission of payroll taxes to relevant authorities.

4. Monthly NSSF Payments Preparation

• Compute and prepare the monthly National Social Security Fund (NSSF) payments.
• Ensure compliance with NSSF regulations.

5. On-Call Audit Advisory Support

• Provide expert guidance on financial and tax-related matters as needed.
• Support in resolving financial compliance issues.

6. Assistance and Presence During Donor Audits and Meetings

• Assist in preparing required financial documentation.
• Attend donor meetings and audits to provide financial clarifications.

7. Quarterly Internal Audit for the Finance Department

• Conduct a quarterly review covering:

• Bank transactions and reconciliations
• Cash management
• Grants and financial expenditures
• Compliance with internal financial policies and processes

8. Ministry of Finance and Interior Registrations Renewal

• Assist in renewing Nusaned’s registrations with the Ministry of Finance and Interior.
• Prepare and submit all necessary documentation.

9. VAT Exemption/Refund Process

• Assist in processing VAT exemption and refund requests for Nusaned and project-based activities.

3. Deliverables & Reporting

The selected audit firm is expected to:

• Submit quarterly and annual tax calculations.
• Provide an annual financial audit report per national and international accounting standards.
• Deliver monthly payroll tax and NSSF preparation reports.
• Offer timely advisory support as required.
• Attend and support donor audits and meetings.
• Submit quarterly internal audit reports with key findings and recommendations.
• Ensure all regulatory filings and renewals are completed on time.

4. Proposal Submission & Quotation Request

Interested audit firms are requested to submit a proposal that includes:

• A company profile highlighting relevant experience with NGOs.
• A detailed technical proposal outlining the approach to the scope of work.
• A financial proposal including a breakdown of costs for each service.
• The profiles of key team members who will be assigned to Nusaned.
• References from at least two similar I/NGOs.