Call for Provision of External Audit of Financial Statement for Zambia Federation of Employers (ZFE)

Website Zambia Federation of Employers

1.    Organization background

The Zambia Federation of Employers  is the central organization of employers in Zambia.  It was established in 1966 by an Act of Parliament (Industrial and Labour Relations Act (CAP 269) of the Laws of Zambia. The Federation exists to promote and protect the interests of employers through lobbying Government on labour and business legislation for a business environment that can promote sustainable enterprise development in Zambia. The Federation draws its membership from the employing companies or organisations in Zambia.  It is governed by a Board of Directors elected by the general membership during annual general meetings. The Board is headed by the Federation President while the Secretariat is headed by the Executive Director.

2.    Audit Scope

The Zambia Federation of Employers wishes to hire services of an external auditor for the audit of financial statements of ZFE for the period 1 January 2024 to 31 December 2024, with a possible extension for some number of years. The audited financial statements must be prepared in accordance with International Accounting Standards and applicable laws and reporting framework in the Republic of Zambia. The audit must be conducted in accordance with applicable International Standards on Auditing. The Auditor will undertake the following tasks but shall not be limited to:

i. Audit the ZFE financial statements for the period 1st January to 31st December 2024 and express an independent opinion.

ii. The audits shall be carried out in accordance with international standards of auditing (ISA) and International Financial Reporting Standards (IFRS)

iii. The auditor shall gather sufficient audit evidence to substantiate in all material respects the accuracy of financial statements.

iv. The audit report shall state if the audit was not in conformity with any of the above standards and that, the financial and accounting procedures approved for ZFE Board of Directors were followed and used during the period under review.

v. With the approval of the Board, The External Auditor may provide Tax advice and reviews as well as any other professional services that are not expressly prohibited and will enable the external auditor to maintain factual and perceived independent.

Deliverables

1.  An opinion on the financial statements
2. Management letter if found necessary

Auditors Experience and Qualifications

The audit firm should have a valid practicing license from the Zambia Institute of Chartered accountants, a valid tax certificate and valid practicing certificates for the partners.

Compensation

Payment will be done as follows.

i. 50% down payment at the beginning of the field audit

ii. Final 50% after delivery of the full and signed copies of the audit.

HOW TO APPLY

ZFE invites submission of technical and financial proposals for this service from qualified and interested firms. To apply, please submit your applications to the ZFE Executive Director, Plot No. 6662Mberere Road, Olympia Extension Lusaka, or mail [email protected]

Note: Deadline for submission of the proposals is 10thApril 2024.

To apply for this job email your details to zfe@zamnet.zm


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