Terms of Reference (ToRs)

For Hiring a Chartered Accountant Firm
External Audit for FY 2025 (October 01, 2024 to September 30, 2025)
The Asia Foundation – Pakistan Office

Background

The Asia Foundation–Pakistan (the “Foundation”) is a nonprofit international development organization committed to improving lives across a dynamic and developing Asia through its programs addressing critical issues affecting Asia in the 21st century, including governance and law, economic development, women's empowerment, the environment, and regional cooperation.

headquartered in San Francisco, USA. The Pakistan Office is situated at EOBI House, 3rd Floor, Block 32-34, Mauve Area, I&T Centre, G-10/4, Islamabad, Pakistan.

 Scope of Work

• Plan and perform the audit to obtain reasonable assurance that the financial statements are free from material misstatement.
• Obtain an understanding of internal controls relevant to financial reporting (as required under ISAs).
• Review internal controls relevant to the preparation of the financial statements.
• Evaluate compliance with organizational policies, procedures, and financial management practices.
• Performing substantive and compliance testing as required under ISAs
• Perform verification of supporting documentation and accounting records.
• Assess whether expenditures are properly recorded and classified.
• Completing audit fieldwork, discussions with management, and finalization of reports by the deadline.