Request for Tender - External Audit for The Wheel

PDF of Request-for-Tender Available for Download

Summary 

The Wheel invites tender submissions from interested Auditing Services Suppliers to provide auditing and associated professional services to the organisation from the year ending 31 December 2023. This will comprise of planning and conducting the annual statutory audit of The Wheel but will also include other occasional advice and services outlined later in this document. 

About Us 

The Wheel is Ireland’s national association of charities, community and voluntary organisations, and social enterprises. We are a representative voice and a supportive resource that offers advice, training, influence, and advocacy for the sector. Rotha (trading as The Wheel) is a registered charity and a company limited by guarantee. It employs 30 people and has an annual turnover of €2.8m. 

Our funding comes from both public and non-public sources. Public sources include government support for the sector, European funding and various contracts for delivery of services and programmes. Non-public sources include membership, income from training events and other sources. 

Our most recent audited accounts and strategic plan are available on our website. 

General Requirements & Responsibilities 

The Wheel is seeking to engage an experienced Auditing Services Supplier who will provide the full range of auditing services required to fulfil its statutory obligations, to comply with relevant accounting and reporting standards and best practice. 

Your responsibility will be to report to The Wheel’s Trustees in accordance with the Companies Act 2014 whether, in your expert opinion, the financial statements:  

• give a true and fair view of assets, liabilities and the financial position of The Wheel as at the end of the financial year on 31 December; 

• are prepared in accordance with the Statement of Recommended Practice (SORP) for charities; and, 

• are prepared in accordance with the requirements of the Companies Act 2014, Charities Act 2009, and any other relevant legislation.  

Based on the work undertaken in the course of the audit, you will have a statutory duty to report whether, in your opinion; 

• The information given in the directors’ report is consistent with the financial statements; and  

• The directors’ report has been prepared in accordance with the Companies Act 2014. 

Annual Auditing Services required: 

The range of services for which the successful supplier may be responsible include, but are not restricted to:  

1. Auditing   

• Conduct an annual financial audit of The Wheel in accordance with the relevant Standards applicable in Ireland and applicable law.  

• Identify and assess the risks of material misstatement of the financial statements.   

• Design audit procedures that are appropriate to the internal controls relevant to the audit.  

• Evaluate the appropriateness of accounting policies used.  

• Conclude on the appropriateness of the directors’ use of the going concern basis for the preparation of the accounts.  

• Prepare the financial statements, including processing client amendments as required. 

• Evaluate and advise on the overall presentation, structure and content of the financial statements.  

• Identify if other non-financial information included in the annual report is materially consistent with the financial statements.  

2. Communication 

• Carry out a pre-audit meeting to discuss the forthcoming audit. 

• Provide an overview of the planned scope and timing of the audit.  

• Conduct a follow up meeting, post audit, to discuss any significant findings. 

• Confirm, in writing, matters discussed and any agreed actions.  

• Maintain frequent communication regarding both auditing and other matters.   

• Present draft audited accounts to The Wheel’s finance and audit sub-group and the board, including any audit findings, as and when required.  

• Ensure a partner of the firm attends the annual general meeting of The Wheel and makes any necessary presentation of the audited accounts to the members. 

3. Other services  

• Preparing and lodge returns with the Companies Registration Office. 

• Assist and advise on any other filing requirements e.g., Revenue Commissioners. 

Duration of contract  

The contract will commence from and include the year ending 31 December 2023 and continue for four years (to year ending 31 December 2026), subject to the services being satisfactorily delivered each year. It is open to The Wheel or the contractor to end the contract sooner should they so wish. 

Other considerations 

Applicants must be sufficiently familiar with the below items to carry out the work: 

• The Charities Act 2009 and subsequent Regulation 

• Statement of Recommended practice for charities (SORP) 

• Charities Regulator’s Code of Governance  

• General Data Protection Regulation 

• The Wheel’s Strategic Plan 2022-2026 

• The incorporation of ESG reporting and climate considerations into the Financial Statements 

• Software packages used by The Wheel including Xero, Salesforce, Thesaurus, SharePoint 

Retention of records  

During the course of your work with The Wheel you will have access to various documentation. You will be required to only take copies of any documentation required for audit purposes and any such documentation must be destroyed after 7 years, with the exception of documentation that is agreed to be of continuing significance.  

Tenders 

The proposal should ideally provide the following information: 

1. Three examples of work and services that your organisation has provided for clients that best represents: 

1. the range of services you provide, 

2. your proven ability to efficiently and effectively conduct an annual audit, 

3. the return on investment to your client, and, 

4. the communication mechanism that was used to improve the impact of your work. 

2. Three references for the above three examples of work – client name, contact number and email. We will not contact your references without your prior permission. 

3. A short proposal, no more than 7 pages, based on how you plan to deliver on the above listed requirements over a four-year period, outlining your proposed approach to meet The Wheel’s auditing requirements as set out in this document. 

4. A detailed breakdown of costs, including hourly or daily rates for your staff, and the overall annual cost. 

The currency to be used in this tender is Euro, and pricing should specifically note whether VAT is excluded or otherwise.  

Other regulations 

The successful Tenderer must have a valid tax clearance certificate for the contract's duration. Such a valid tax clearance certificate from the Irish Revenue Commissioners must be produced by a successful Tenderer before execution of the contract and any payments due. An auditing practice certificate and the related professional insurance must also be held.  

Scoring & Next Steps 

Tenders received will be marked out of 100 marks as follows: 

• Approach & Understanding of Tender  -30 
• Value for Money - 25 
• Quality of audited accounts - 20 
• Knowledge of the nonprofit sector - 15 
• Capacity and access to personnel - 10 

Proposals may be shortlisted after scoring. Based on the above criteria, shortlisted Auditing Services Suppliers may be asked to interview with The Wheel later in the year to discuss their proposal in more detail. Not all proposals may be invited to interview. 

Requirements for this meeting will be forwarded upon selection.  

Closing Date 

Tuesday 22 August 2023 

Return tender or submit queries to Jon McBride, Compliance & Metrics Officer: jon@wheel.ie