Léargas Internal Audit Services

Tender description

Léargas is seeking an AUDITING SERVICE providers for 3 years ( extendable upto 18 months ). Léargas, a publicly funded, charitable organisation, is required to maintain strong internal control, compliance, and risk management practices. An internal auditing service provider offers the independence, specialist expertise, and flexibility required to deliver a comprehensive audit programme aligned with best practice and the organisation's strategic priorities. The proposed contract would cover a three-year period and include audits across governance, finance, procurement, IT, compliance, and programme delivery. Enhanced value will be achieved by embedding recommendations into operational improvement initiatives. The scope of this RFT is to source service providers to act as business advisors and internal auditors to the Company Léargas- The Exchange Bureau. The auditors will offer advice, based on their knowledge, experience and expertise, for us to take account of as we see fit. Service Providers will not be given the responsibility for managing the Company’s affairs which ultimately rests with Léargas. In providing advice to Léargas, they shall be acting as independent professional advisers (not as the Company’s management or executive). Auditors will not be asked to advise on other matters including the unique details of specific business units or subsidiaries and that we will make our own arrangements to obtain any advice or assistance in relation to those issues as appropriate The scope of work can be reviewed, revised and updated as appropriate during the terms of the contract. A few of HIGH-LEVEL REQUIREMENTS are as follows ( BUT NOT EXCLUSIVE) • The Internal Audit function is responsible for establishing that the accounting systems, procedures and controls operated by Léargas, as appropriate, are being complied with and are capable of realising policy objectives in an economic, efficient and effective manner. • The Internal Audit function will on an ongoing basis produce an annual work plan based on a risk assessment of all areas under its remit. The plan will be approved by the Finance, Audit and Risk Committee. • In advancement of the commencement of each internal audit assignment, suitably detailed Terms of Reference should be agreed; to include area of audit, scope, any elements that may be specifically excluded from consideration. • The Internal Audit function will in general adopt a systems-based approach to its audits supplemented, where appropriate using transaction testing, vouching and verification methods on a sample basis. • It will conduct its work in accordance with the standards and guidelines published by the Institute of Internal Auditors and with internal audit standards of the Department of Finance. • Subject to obligations under Freedom of Information legislation, the Internal Audit function will ensure that all information and records reviewed and obtained during an audit are kept confidential.