Request Proposals: Financial Audit Services

Request for Proposals:
Financial Audit Services
1. Summary and Background

The Canadian Network for Maternal, Newborn and Child Health operating as the Partnership for Women and Children’s Health (CanWaCH) is a completely virtual not-for-profit organization with an independent Board of Directors that focuses on the health and rights of women and children around the world. CanWaCH is currently accepting proposals from qualified and experienced auditors licensed under the Public Accounting Act, 2004 to provide financial audit services.

The selected auditor will be responsible for performing the annual corporate financial statement audit for CanWaCH, file the annual tax returns with CRA, serve as a resource and be available for consultation on accounting, tax and related matters throughout the year.

CanWaCH’s organizational fiscal year runs October 1 – September 30. In general, CanWaCH presents completed financial statements to its membership at its AGM, held at the end of November each year.

CanWaCH currently receives the majority of its funding from Global Affairs Canada and receives other funding from other departments and foundations, for example The Canadian Institutes of Health Research, The Bill and Melinda Gates Foundation, Eleanor Crook Foundation and the Guttmacher Institute.

Revenues for CanWaCH for the previous fiscal years are as follow:

Fiscal year
Revenue

September 30, 2024 $ 3,581,489

September 30, 2023 $ 4,003,213

September 30, 2022 $ 2,912,685

CanWaCH currently uses Quickbooks as its software solution for General Ledger and Accounts Payable.

CanWaCH’s Finance, Audit and Risk Committee (FAR Committee) is responsible for reviewing the annual financial statements of CanWaCH prior to submission to the Board of Directors. The Auditor will present the audited financial statements and results to the Committee on an annual basis.

The objective of this Proposal is select an audit firm to enter into a contract with CanWaCH. The Auditor shall have experience and expertise in performing not-for-profit audits, be free of any obligations or interests that may conflict or affect their ability to perform and act as the Auditor on our behalf, and have the capacity to provide this service in a timely manner that provides best value for quality.

The purpose of the Financial Audit Services is to:

• Meet with the necessary stakeholders, including Management and Board members when required throughout the audit process and be available to CanWaCH members at the Annual General Meeting
• Perform the annual financial audit;
• Complete the annual tax return;
• Serve as a resource and be available for consultation on accounting, tax and related matters throughout the year.

From a technical perspective, we envision the provider to submit a proposal and any appendices, which includes the following:

• Company Profile and
  
  Contract:
  
  A brief profile of your firm indicating the scope of its practice, the range of activities performed by the firm such as auditing, tax returns/service, and accounting services. Identify the contact person, phone number and email address as well as the address and phone number of the office that will manage or assist in managing this audit.
• Experience with Not-for-Profit Audits: List current and past audit clients and indicate the number of years your firm has been the auditor for each client. Describe your familiarity and experience with ASNPO accounting and accounting standards.
• Experience with government contribution agreement funding: Describe your familiarity and experience in audits for non-profit organizations who receive funding
• Audit Staffing: Name and brief resume of the partner(s), manager(s) and other key staff who would be assigned to this audit.
• Audit Implementation: Proposals performed, audit approach and commitment to perform the work within the time specified in the annuals schedule. This would include the approach to be used to gain an understanding of CanWaCH’s structure and systems as well as a proposed schedule and any specific techniques or processes…