Overview 

Mama Cash, hereafter also referred to as “MC”, wishes to engage the services of an audit firm for the purpose of performing externally-commissioned agreed-upon procedures over a grantee partner (GP) of Mama Cash. A total of 9 grantee partners from around the world have been selected for procedures over their 2022 financial reports submitted to Mama Cash, for 8 of which we are seeking audit firm partners. An overview of the locations of selected organizations follows in Annex 1. 

The engagement shall be carried out in accordance with international audit standards (ISAs) issued by the International Auditing and Assurance Standards Board (IAASB). Additionally, the assignment is to be carried out in accordance with International Standards on Related Services (ISRS) 4400, Agreed-Upon Procedures Engagements. The engagement shall be carried out by an external, independent and qualified auditor. While the engagements are expected to be recurring, the engagement will be agreed to on a per-year basis. 

Job Family Level: Vendor  

Reports To: Internal Audit Manager Mama Cash (People and Purpose) 

Payment: Up to 10,000 EUR inclusive of VAT per GP 

Timeframe: Target report date no later than 1 March 2024 

Background 

Mama Cash’s vision is that every woman, girl, and trans and intersex person has the power and resources to participate fully and equally in creating a peaceful, just and sustainable world. Our mission is to mobilise resources from individuals and institutions, to make grants to self-led feminist organisations, and to help to build the partnerships and networks needed to do their work of successfully defending and advancing women’s, girls’, and trans and intersex people’s human rights globally. 

This Terms of Reference document is for an auditor who will support Mama Cash in complying with the requirements of a key institutional donor. The auditor hired for this position will work closely with the Internal Audit Manager of Mama Cash and the Finance (People and Purpose) group.  

Mama Cash has entered into a grant agreement with the Swedish International Development Cooperation Agency (hereafter referred to as “Sida”). Pursuant to this grant agreement, Mama Cash will perform verification of a sample of grantee partners’ financial reports, and processes performed to manage such financial reports, on an annual basis. The framework for verification procedures has been developed by Mama Cash and agreed with Sida as annexure to the grant agreement. 

Grantee partners, for the purposes of these Terms of Reference, are those groups or individuals to whom Mama Cash has provided grant funding and related accompaniment support to support the core mission outlined above (“grantee partners”). MC has selected for verification grantee partners who have a recurring funding relationship with Mama Cash, with a grant relationship longer than 1 year but shorter than 9 years. Mama Cash typically grants partners with funds between 10.000 EUR and 70.000 EUR per year. Grantee partners who have annual budgets equivalent to 150,000 EUR or more are required to submit to MC audited financial statements. Therefore, the scope of the AUP work will be limited to organizations whose budgets are below 150,000 EUR (or equivalent in local currency). 

Mama Cash will select, per grantee partner, a single independent auditor to perform the externally-commissioned procedures. Procedures will cover the grantee partner at the organization level, in other words the entire organization is subject to procedures, not just the amounts which are granted by Mama Cash. 

Objectives and scope of work 

We seek an external auditor to perform agreed-upon procedures, defined by Mama Cash, for a single grantee partner to be communicated to the external auditor upon entering a contractual agreement to perform the specified work. This work is to be carried out in accordance with ISRS 4400, with the objective of providing to Mama Cash a factual finding report at the conclusion of procedures.  

The overall objective is to provide Mama Cash with better insight into grantee partners’ organizational and financial management capacity, and as relevant to support grantee partners in strengthening their organizational and financial management capacity over time. This further provides Mama Cash with assurance regarding the general quality and reliability of the unaudited financial reports received from grantee partners. Therefore the primary focus of these procedures will be systems and processes of financial management and reporting. 

Location 

AUPs will be undertaken by the audit company’s local offices where practicable and reasonable, to ensure that knowledge of local regulations, context, and language is covered. Where these requirements can be met using centralized offices (for example, a team based in the Netherlands), this can be agreed between the parties to the final agreement.  

Timeline 

AUPs will be performed between 1 January 2024 and 1 March 2024 wherever practicable. Where deviations from this timeline are necessary, for example due to availability of personnel from either the auditor or grantee partner, this will be agreed on a case-by-case basis. 

Budget 

Audit firms interested in performing the described responsibilities are required to provide a proposal and fee quotation to Mama Cash. Mama Cash will review proposals with a maximum fee of 10,000 EUR including any applicable VAT. 

Mama Cash responsibilities 

Mama Cash personnel will remain responsible for certain procedures related to the AUP work. These are summarized as follows: 

  • Selection of grantee partners, and initial communication with the selected grantee partners to inform them that they will be subject to verification procedures 
  • Communication of selected grantee partners to the auditor; communication of the audit firm to the grantee partners 
  • Coordination of interactions and meetings between the auditor and grantee partner, as needed 
  • Management of ongoing relationship with the grantee partner, including non-audit support 
  • Review of factual findings report and underlying workpapers, as relevant, as prepared by the external auditor 
  • Preparation of summary of any follow-up actions required of the grantee partner as a result of observations summarized by the external auditor in their factual findings report 
  • Monitoring and evaluation of grantee partners’ adherence to such actions, as relevant 
  • Coordination with and reporting to MC’s external auditor and Sida 

Proposal requirements 

The proposal and fee quotation prepared by interested organizations should include, at a minimum, the following information: 

  • Summary of qualifications and/or experience and motivation of both the firm and key engagement team members 
  • Anticipated timeline, including proposed report date to Mama Cash 
  • Proposal for engagement team staffing and structure, including 1) indication of availability of team members during timeline to meet the proposed report date and 2) team member qualifications 
  • Pricing estimate and breakdown (e.g. hours and rates) or fixed fee, not to exceed 10,000 EUR including applicable VAT 
  • Proposed terms and conditions  

Assignment according to agreed-upon procedures (AUP) ISRS 4400 

Mandatory procedures to be performed in completion of the externally-commissioned procedures of grantee partner are available as an additional Annex 2 to these TOR. In general, they require: 

  • Making and summarizing results of inquiries of the selected grantee partner to understand their key financial management and reporting functions as an organization, namely: 
  • Procurement 
  • Payment authorization 
  • Budget monitoring 
  • Transaction recording 
  • Hiring policies 
  • Performing sample-based substantive procedures to validate the accuracy of reported expenditures, including vouching transactions to bank statements and relevant underlying documentation 

A complete summary of required AUP, as well as the documents to be requested from each grantee partner to support these procedures are further summarized in annexes to these TOR, available on request to the MC contact persons listed in the “How to apply” section of these TOR. 

Deliverables 

The reporting shall be signed by the responsible auditor (not just the audit firm) and shall include the title of the responsible auditor. 

The format of the reporting will be agreed upon in advance and will comply with ISRS 4400. It will take the form of a written factual finding report, including procedures performed and findings observed. All observations must be able to be objectively verified and exclude any opinions or recommendations. The report must include a statement on independence conforming with the agreed-upon ethical requirements and independence requirements per the engagement letter. 

The report will be addressed directly to Mama Cash, but findings and recommendations will be discussed with the grantee partner. Necessary follow-ups will be performed by Mama Cash with the grantee partner directly, and will depend on the nature and potential impact of the findings of the external auditor.  

Mama Cash will retain the auditor’s factual finding report internally and will confirm via email to the external auditor our approval of its contents. 

How to apply 

Interested parties should submit their proposal for work to Maya Lacy (m.lacy@mamacash.org), Mama Cash Internal Audit Manager, including in cc Monique Brouwer (m.brouwer@mamacash.org), Director of People, Finance, and Operations. The subject line in the email should read: Proposal for AUP Engagement. Any clarifications on this TOR should be directed to Maya Lacy with Monique Brouwer cc’d. 

This TOR represents the requirements for an open and competitive process. Applications will be accepted up to 22 December 2023 (COB). Contract terms and conditions will be negotiated upon the selection of the auditor. We expect to make a decision by 1 January 2024, and only selected applicants will be contacted.  

Annex 1: Country locations of grantee partners selected for 2022 verification procedures  

The following list includes the countries in which the selected grantee partners are located and operating, as well as the languages in which they operate.  

 Location Language 
1 Serbia  English  
2 South Africa  English  
3 Bangladesh  English  
4 Pakistan English  
5 Indonesia  English  
6 Mexico  Spanish  
7 Thailand  English  
8 Armenia  English  

See Annex 2 here