The Public Association “Institute for Strategic Initiatives” (IPIS) announces a tender for the acquisition of general audit services of IPIS for the years 2017-2019 and the first half of 2020.

The selected company will provide the requested services according to the Terms of Reference described in this Notice and based on the service contract for the requested period.

The offer is to be dated and signed by the bidder and sent by e-mail to until September 3, 2020, at 17.00.

Tenders which do not comply with the conditions of the notice and the terms of reference will not be considered.

For additional information, please contact us at the e-mail address:


Object of the audit:

The selected audit company will perform the general audit of the Association during the years 2017-2019 and the first half of 2020.

The audit for the indicated years is to be carried out between September 13 and October 13, 2020. The general audit report of the Association in Romanian and English, as well as their electronic version (in pdf and word format) will be presented by October 29, 2020 .

The audit report (the auditor’s opinion) must comply with the provisions of International Standards on Auditing (ISA 700/705). The general audit will examine the financial statements prepared in accordance with the National Accounting Standards for the reference years.

Also, during the audit, the observance of the fiscal legislation in force within the activities of the Organization will be verified.

The audit report will contain separate notes for all projects implemented by the Association during the years 2017-2019, and the first half of 2020 which will briefly reflect the allocation and expenditure of financial resources on each project.

Technical tasks:

The audit opinion must be in accordance with ISA 700/705. The audit report must contain the financial statements, including the notes by project and the letter to management;

The audit report, verified and signed by the responsible auditor (the name, surname and position of the qualified and licensed auditor, not only the name of the company) must be submitted to the Organization according to the terms indicated in the “Object of audit” section;

The audit report will be presented in two copies in Romanian and English, as well as their electronic version (in pdf and word format);

The auditors will have access to all documents and accounting documents regarding the procedure for allocating, managing and reporting the Organization’s grants, in compliance with the principles of confidentiality. IPIS will provide the necessary support and space for the auditor to facilitate the audit process.

Letter to management:

In addition to the audit report, the auditor will prepare a letter that will include the audit conclusion regarding:

Identified weaknesses and risk assessment;
Quality of internal control of the Association (identification of deficiencies and risk assessment);
Lack of confirmatory documents quantified in exact amounts, if any;
Auditor’s recommendations to address identified deficiencies (recommendations will be presented in order of priority);
The letter to management includes the management response / comments section to the identified weaknesses;
The audit report or extracts from it may be made public by IPIS without any limitation, provided that the meaning of the findings is not distorted.

Content of the offer:

The offer to participate in the contest will contain concise information indicating the following:

Company contact details (name of the bidder, contact number, email address);
Description of the bidding company, experience in the field and arguing the opportunity to select it;
CV of the persons who will be directly involved in the audit of the Organization;
Audit license (copy);
The financial offer, indicating the price of audit services in MDL for the entire audit period, in compliance with the deadlines indicated above.

Selection criteria:

The examination of tenders will be carried out by the Competition Commission on the basis of the following criteria:

Experience in the field – interested audit companies must have experience in auditing non-profit organizations in the Republic of Moldova;
Qualification of the team that will perform the audit (minimum 3 years of experience for the audit manager and minimum 2 years for the other team members);
The total price of the services for the audit performed and the proposed period for performing the audit;
The image and reputation of the company. The company’s membership in an international network will be an advantage.

The offer is to be dated and signed by the bidder and sent by e-mail to until September 3, 2020, at 17.00.

For additional information