External Financial Audit firm to perform audit for Women on Boards Project

About the Program:   

 LLWB, in partnership with UK Embassy in Lebanon  is leading on a project that aims to facilitate and increase female representation on the boards of organisations, syndicates, and universities, promoting Leadership and Management.   

In this program, LLWB has conducted participatory gender audits of two academic institutions. These activities will lead to another phase in the project, which involves offering participation in the “Scale-Up Training” to 30 women from each academic institution. 

The trainings organized by LLWB  covered various topics that prepare women to serve on boards of institutions, associations, and businesses while also helping them understand the key forms of discrimination faced by women. Following this activity, LLWB mentored 18 women from these two entities to prepare them for board positions. In the next phase, these 18 women were registered at ESA École Supérieure des Affaires to obtain their certification in the Corporate Director Program and Board Diversity Program. 

In parallel, LLWB carried out two additional activities. The first involved conducting a mapping of women on boards in public institutions. The second focused on revamping the Women on Board draft law prepared by LLWB. 

Scope of Work:                                                                                                                     

LLWB is seeking a short-term external audit firm to conduct an independent financial audit of the women on board project to ensure compliance with donor requirements, national financial regulations, and internal policies. The audit will assess the accuracy and reliability of financial records, verify fund utilization, and evaluate internal control systems. The selected firm will provide a detailed audit report, highlighting any discrepancies, risks, or areas for improvement, along with actionable recommendations. 

The audit will cover the entire project duration from July 15, 2024, to March 31, 2025, focusing on financial transactions, procurement processes, and adherence to funding agreements. The engagement is expected to be completed within 2 weeks from the contract signing. 

Required Qualifications:                                                                                                                     

• Must be a legally registered audit firm with a valid license to operate in Lebanon. 
• At least one lead auditor must be a Certified Public Accountant (CPA), Chartered Accountant (CA), or hold an equivalent recognized qualification. 
• Minimum 5 years of experience in auditing NGOs, donor-funded projects, or development programs. 
• Proven track record of conducting financial audits for similar organizations or projects. 
• Experience in auditing projects funded by international donors (e.g., UN agencies, EU, FCDO, etc.) is an advantage. 
• Strong knowledge of International Financial Reporting Standards (IFRS) and/or International Standards on Auditing (ISA). 
• Familiarity with donor compliance frameworks and financial management best practices. 
• Ability to complete the audit within the required timeline and deliver high-quality reports. 
• Ability to provide clear, well-structured, and detailed audit reports in  English  

Deliverables:   

• Inception Report including Detailed audit plan, methodology, and timeline, Initial assessment of financial records and key areas of focus and List of required documents and information from the project team. 
• Draft Audit Report including Preliminary findings, financial statements review, and compliance assessment, Identification of key financial risks and weaknesses in internal controls, Initial recommendations for improvements. 
• Final Audit Report including Executive summary of findings and conclusions, Detailed financial analysis and verification of transactions, Compliance assessment with donor and national financial regulations, identified discrepancies and risk areas, with corrective actions, Recommendations for strengthening financial management and internal controls. 
• Presentation of Findings with the project team and key stakeholders to present audit results and Discussion of recommendations and next steps for corrective actions.