External Audit Services 2022 - 2027

Description

The principal requirement is for the provision of external audit service from 2022 to 2027 to ensure continuity of service and provide economies of scale to the service provision. The successful supplier will independently audit the statutory financial statements EKHA and the consolidated financial statements accounting standards and the needs of lenders in respect of loan covenants. External audit is a requirement of the Regulatory Standards of Governance and Financial Management published by the SHR and Company Law. The external audit and tax service will include, but not be limited to: a) The planning, management and efficient execution of the annual external audit Association financial statements b) Preparation of an annual audit plan for each company to be made available to management at least 3 weeks before the commencement of the final audit c) Formal reporting to the Finance and Audit Sub-Committee, the Management Committee and Subsidiary Board. This will typically consist of attending the June/August meetings and presenting the findings, final accounts, letter of representation and a comprehensive management letter for each company d) Meetings with management pre and post audit to discuss audit plan and audit report respectively in advance of Committee/Board meetings e) Generation of the final financial statements on behalf of EKHA f) Audit field work on site for up to 14 days for the interim audit and up to 6 days for the final audit. Regular progress updates to management to be provided during the field work, concluding with a clearance meeting encompassing all audit issues. g) Attendance at EKHA’s Annual General Meeting with a report presentation h) Provision of timely and accurate advice and guidance on technical accounting and finance issues. Owing to the time critical nature of the process of preparation of annual financial statements it is expected that the principal external audit contacts will be readily available by telephone/email and will provide a full response to requests within 2 working days. i) Timely provision of model financial statements, relevant technical accounting updates, including relevant Financial Reporting Standards, Statements of Recommended Practice and Accounting Orders. j) Excellent and timely communication between auditor and client on all matters, including feedback on information supplied and immediate feedback on any predicted cost over-runs k) The provision of added value and innovation to the audit process l) The supplier is expected to use their skill, knowledge and expertise to identify any gaps in this scope and address them in their submission. m) Co-operation with EKHA’s internal auditors where you wish to rely on their assurance work when planning the statutory audit