Audit of the Financial Statements of An Taisce

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1. At a glance

Buyer Title CPV / category Estimated value Per-year Procedure type Lots Location Contract length Submission deadline Go-live / start |-------|-------|----------------|------------------|----------|----------------|------|----------|------------------|---------------------|------------------| An Taisce Environmental Education Unit Audit of the Financial Statements of An Taisce 79212000 - Audit services €60,000 not stated Open not stated Ireland 5 years 2024-05-29T16:00:00+00:00 not stated

2. Scope of Work

An Taisce seeks a contractor to conduct audits of its financial statements over a five-year period. The contractor will be responsible for ensuring compliance with FRS 102 and SORP for Charities, which govern the preparation of financial statements for charitable organizations in Ireland. The contractor will work closely with An Taisce's finance team to ensure timely completion of the audits.

The key activities involved in this contract include:

• Annual Audits: Conducting comprehensive audits of An Taisce's financial statements for each fiscal year, with a focus on accuracy and compliance with relevant accounting standards.
• Reporting: Preparing detailed audit reports that outline findings, recommendations, and any areas of concern, to be submitted to An Taisce's board and relevant stakeholders.
• Timeline Management: Completing the financial statements within 3 to 4 months following the year-end date of December 31.
• Collaboration: Engaging with An Taisce's finance team to understand the organization’s funding arrangements and cost allocation processes, which are essential for accurate financial reporting.
• Transparency Initiatives: Assisting An Taisce in improving the layout and transparency of financial information in annual reports, as part of a long-term commitment to enhancing stakeholder communication.

The contractor will also need to be familiar with An Taisce's funding sources, which include government departments, state bodies, corporates, and individual donations, as these will impact the financial statements.

3. Background & buyer context

An Taisce is procuring these audit services to enhance the transparency and accuracy of its financial reporting as part of its ongoing commitment to good governance. Founded in 1948, An Taisce is one of Ireland's oldest environmental organizations and operates independently from government bodies. The organization has experienced significant growth, with an income of €10.5 million in 2023, which included diverse funding sources. The procurement aligns with An Taisce's strategic goal of improving financial accountability and stakeholder trust.

4. Eligibility & selection criteria

Bidders must meet the following eligibility and selection criteria to be considered for this tender:

• Turnover requirement: Minimum average annual turnover of €60,000 in audit services.
• Insurance:
• Public Liability: €2,600,000
• Employer's Liability: €13,000,000
• Professional Indemnity: €6,500,000
• Product Liability: not specified for this tender
• Cyber: not specified for this tender
• Motor: not specified for this tender
• Certifications: Not specified for this tender.
• Past experience: Minimum of 3 comparable audit projects completed in the last 5 years, each with a value of at least €60,000.
• Personnel: At least one qualified auditor with a minimum of 5 years' experience in auditing charities or non-profit organizations.
• Geographic / facility constraints: Bidders must be based in Ireland or have a registered office within the EU/EEA.

5. Award criteria & scoring

Bids will be evaluated based on the following criteria:

The evaluation will follow a Most Economically Advantageous Tender (MEAT) approach, balancing price and quality. There are no minimum scoring thresholds specified for individual criteria.

6. Submission requirements

Bidders must submit the following documents as part of their tender response:

• Method statement / response document: A detailed proposal addressing the scope of work, using the provided template, with a maximum of 10 pages.
• CVs: Curriculum Vitae for key personnel involved in the audit, limited to 2 pages each.
• Pricing schedule: A completed pricing schedule in the specified format.
• Case studies: At least 2 case studies of previous audit work, each with a value of €60,000 or more.
• Declarations: Completed declarations including ESPD, Bona Fides, Tax clearance, and Conflict of Interest statements.
• Mandatory site visit: Not specified for this tender.
• Submission portal: All documents must be submitted via the eTenders platform, adhering to any specific format rules outlined in the tender documents.

7. Key dates & process

8. Contract terms that matter

The contract will be structured for a duration of five years, with the possibility of extension based on performance. Payment terms will be outlined in the contract, with invoices to be submitted upon completion of each annual audit. Key performance indicators (KPIs) will include timely submission of audit reports and adherence to agreed timelines. Liquidated damages may apply for delays in reporting. Termination clauses will allow either party to terminate the contract under specific conditions, such as failure to meet performance standards. Intellectual property rights for the audit reports will remain with An Taisce. Sub-contracting is permitted, subject to prior approval from An Taisce.

9. Risks, red flags & unusuals

Potential risks associated with this tender include:

• Turnover requirement: The minimum turnover requirement of €60,000 is closely aligned with the contract value, which may limit competition to established firms.
• Experience criteria: The requirement for a minimum of 3 comparable projects may exclude smaller firms or new entrants to the market.
• Geographic constraints: Bidders must be based in Ireland or the EU/EEA, which may limit participation from firms outside these regions.
• Timeline for completion: The expectation to complete audits within 3 to 4 months post year-end may be challenging for firms with multiple concurrent contracts.

10. SME fit assessment

This tender is suitable for small to medium-sized enterprises (SMEs) with experience in auditing charities or non-profit organizations. Viable bidders should have a strong understanding of FRS 102 and SORP for Charities, as well as the capacity to manage multiple audits within tight timelines. Consortium arrangements or sub-contracting are allowed, which may enable smaller firms to partner with others to meet eligibility criteria. The indicative bid preparation effort is estimated at 5-10 days, depending on the firm's existing capabilities. The presence of established firms in the sector may indicate a competitive landscape, but the absence of a sole-supplier framework suggests opportunities for multiple bidders.

11. Where to dig deeper

• Source RFT filename: 24.04 Audit Invitation to Tender.docx
• eTenders CFT ID: not specified
• Contact email: not specified
• Important attachments: None specified in the provided documents.