EXPRESSION OF INTEREST FOR AUDIT SERVICES 2024

The Solomon Islands Football Federation (SIFF), a non-profit organization dedicated to promoting football and developing sporting talent in the Solomon Islands, is seeking to engage a qualified audit firm to provide statutory audit services for the fiscal year ending 2024.

We invite you to submit an Expression of Interest (EOI) for the provision of these services, as outlined in the scope below.

Scope of Services

The successful applicant will be required to perform the following audit procedures in compliance with International Standards on Auditing:

1. Conduct Audit in Accordance with International Standards on Auditing
   Ensure compliance with relevant auditing standards to provide reasonable assurance that SIFF’s financial statements are free from material misstatement.
2. Examine Evidence Supporting Financial Statements
   Test evidence supporting the amounts and disclosures in the financial statements on a sample basis to ensure accuracy and completeness.
3. Evaluate Accounting Policies and Estimates
   Review significant accounting policies and estimates to assess their reasonableness and appropriateness.
4. Form an Opinion on Financial Statements
   Assess whether the financial statements present a true and fair view in accordance with International Financial Reporting Standards (IFRS) and mandatory reporting requirements in the Solomon Islands.
5. Understand the Federation and Entity’s Financial Position
   Form an opinion based on an understanding of SIFF’s financial position, performance, changes in equity, and cash flows.
6. Evaluate Accounting Systems and Internal Controls
   Gain an understanding of SIFF’s accounting systems and internal controls to assess their adequacy in ensuring the accurate preparation of financial statements.
7. Verify Maintenance of Proper Accounting Records
   Confirm whether SIFF has maintained proper accounting records that support the audit opinion and financial statements.

Deliverables

The expected deliverables include but are not limited to the following:

1. Audit Opinion:
   A formal report on whether the financial statements present a true and fair view of the organization’s financial position and performance in accordance with the relevant accounting standards (such as IFRS or GAAP).
2. Audit Report:
   A report that includes the auditor’s opinion on the financial statements, along with any qualifications or concerns about the organization’s financial records, internal controls, or compliance.
3. Management Letter:
   A letter detailing the auditor’s observations, including any deficiencies in internal controls, recommendations for improvements, and suggestions for better financial management practices.
4. Audited Financial Statements:
   The finalized audited financial statements, including the balance sheet, income statement, cash flow statement, and any necessary footnotes or disclosures required by the applicable standards.
5. Internal Control Evaluation:
   An evaluation of the organization’s internal control systems to assess their effectiveness in ensuring accurate financial reporting and preventing fraud or errors.
6. Audit Findings:
   A detailed summary of the key audit findings, including any material misstatements, control weaknesses, or areas of concern identified during the audit process.
7. Risk Assessment:
   A risk assessment report outlining the financial and operational risks identified during the audit, including potential threats to the organization’s financial health or legal compliance.
8. Adjustment Entries:
   A list of any proposed accounting adjustments that need to be made to the financial statements to correct inaccuracies or misstatements.

Submission Requirements

Interested audit firms or professionals are requested to submit the following documents as part of their Expression of Interest:

1. A cover letter outlining your qualifications, experience, and approach to auditing non-profit organizations, including any relevant experience with NGOs or similar entities.
2. A detailed firm profile or individual CV, highlighting the relevant experience and qualifications of the personnel who would be involved in the audit.
3. A proposed methodology for conducting the audit, including an estimated timeline and key milestones.
4. A proposed fee structure or pricing model for the audit services.
5. At least two references from previous clients, ideally from other non-profit organizations or similar entities.
6. A copy of your firm’s or individual’s license and certification to practice as an auditor.

Submission Deadline

Please submit your Expression of Interest by 31st of January, 2025 to secretariat@siff.com.sb or by hand delivery to the SIFF office in Honiara, Solomon Islands.

Next Steps

Following the review of submitted EOIs, SIFF will shortlist applicants and may invite them for an interview or further discussion. The selected audit firm or professional will begin the audit process in accordance with the agreed timeline.

We look forward to receiving your Expression of Interest and potentially collaborating with you to ensure the transparency, accuracy, and integrity of SIFF’s financial reporting.