TOR for External Audit for The Period 2023-2025 – Strømme Foundation (SF)

Consultancy Title:   Terms Of Reference (ToR): External Audit for The Period 2023-2025

Organisation: Strømme Foundation (SF)

Duty Station:  Kampala, Uganda




Strømme Foundation (SF) is an International Development Organisation with its Head Office in Norway. SF is committed to empowering people to overcome poverty through our interventions in Education and job creation. Through challenging, committed, and long-term partnerships with local organizations, SF aims to make its vision a reality: a world free from poverty. SF Uganda program is strategically managed by the country office in Kampala. Stromme Foundation (SF) implements programs through local implementing partners. Please visit  for more details about our organization.


The main aspect of SF Uganda’s development approach is building the partner capacity to facilitate the empowerment of the poor. Through this, SF expects to establish a strong civil society mechanism to upgrade the living standards of the marginalized, vulnerable, and poor people.


SF Uganda is working with 6 local NGOs in selected areas of Eastern, Central, West Nile and extending to the Acholi Region from 2024-2028.



  1. The main objective of the engagement is to express an independent audit opinion on the annual financial summary statement of the SF Uganda Office. The engagement will be carried out as per the audit instructions 2023 of Price Waterhouse Coopers, Norway who are the group auditors of SF.
  2. The other objective of the engagement is to express an independent audit opinion on the project’s annual financial summary statements of implementing partner NGOs as mentioned above for the funds transfer from SF as per the financial control requirements for partners. The engagement will be carried out as per the audit instructions sent from the SF Head office, Norway.
  3. The annual audit engagement per entity will include reporting as per specific instructions for an interim audit covering the first three quarters of the year, to be conducted in October/November.
  4. The group auditor may give instructions for additional audit performance and documentation requirements on selected entities. This will be remunerated separately when applicable.
  5. The places of execution of the verification for the audit engagement are SF Kampala office and field offices of all implementing partners.



SF Kampala is responsible for the preparation of financial statements including adequate disclosure and to provide partner financial statements adopting generally acceptable accounting policies.


The auditor is responsible for forming and expressing opinions on the financial statements. The auditor will carry out the audit in accordance with the International Standards on Auditing (ISA 200-799), (ISA 800/805), as promulgated by the International Federation of Accountants (IFAC). As part of the audit process, the auditor may request from the Implementing Partner written confirmation concerning representations made in connection with the audit.


SF will provide templates to be utilized for the annual audit reporting, and the Auditor will report on SF structure as instructed by the Group Auditor.


The Auditor shall take responsibility for securing enough resources to meet the deadlines.


All submissions must arrive in SF Kampala within 12:00AM on the due date, or otherwise in advance notify SF explaining the reasons for delaying the proposed delivery date. All correspondence should be addressed to


Country Director,

Stromme Foundation, Uganda

Plot 1 Kololo Hill Drive

P.O Box 27200 Kampala




The auditor should verify that the Annual Financial Summary Statement (AFSS) has been prepared in accordance with the agreed accounting standards (see paragraph 3 above) and give a true and fair view of the financial position at the relevant date and of resources and expenditures for the financial year ended on that date.


The Annual Financial Summary Statements (AFSS) should include:


  • A statement of funds received, showing funds from the SF Head office and funds from other donors separately.
  • A statement of expenditures incurred on different activities/projects, split by the various funding sources.
  • A summary of the activity in the Designated accounts and fund transfer to partners.
  • A summary of the closing balances at the end of the period.
  • Explanatory notes on Annual Financial Statement.



The auditor should examine the eligibility of financial transactions during the period under examination and fund balances at the end of such period.

The auditor should also examine eligibility and correctness of:


  • Financial transactions during the period under review.
  • Fund Accountability Statement (FAS) which presents the project’s revenues, budget of the project; costs incurred and cash balance of donor funds.
  • The operation and use of the Designated Account in accordance with the Partnership Agreement between SF and Implementing partner; and
  • The adequacy of internal controls for the type of disbursement mechanism.



The auditor will issue an opinion on the set of SF financial statements and Partner Financial Statements. The Auditor will prepare the audit report in the SF prescribed format instructed by the SF Head office, in Norway, confirming the fund transfers from SF to implementing partners specifying donors and projects.


It should include a separate paragraph highlighting key internal control weaknesses and non-compliance with the Partnership Agreement terms between SF and the Implementing Partner.


There are two main reports on which the auditor will issue opinions:


  1. Annual Audit Report (Jan to Dec)- SF Uganda Office accounts and Partners accounts (6 partners) – The deadline for SF Uganda office accounts and for partner accounts is 25th February and 8th of March respectively.
  2. Interim audit: Voucher verification (Income and expenditure), Opening balance, bank reconciliations, compliance of Policies and Procedures covering the period January to September (9 months) and a brief report listing findings and recommended course of action to rectify – deadline for interim audit is 10th of November of the year for partners and SF Uganda office account.



In addition to the audit report, the auditor will prepare a management letter, in which the auditor will:


  1. Give comments and observations on the accounting records, systems, and controls that were examined during the audit.


  1. Identify specific deficiencies or areas of weakness in systems and controls and make recommendations for their improvement.
  2. Report on the degree of compliance in the Partnership agreement and give comments, if any, on internal and external matters affecting such compliance.
  3. Communicate matters that have come to his/her attention during the audit which might have a significant impact on the implementation.
  4. Give comments on the extent to which outstanding issues/qualifications issues have been addressed.
  5. Give comments on previous audits’ recommendations that have not been satisfactorily implemented; and
  6. Bring to the recipient’s attention any other matters that the auditor considers pertinent, including ineligible expenditures. Ideally, the management letter should also include responses from the Implementing Partner to the issues highlighted by the auditor.



The audit shall be carried out by any independent Chartered Accountancy firm that is affiliated with a reputed international accounting firm with a minimum of 7 years’ experience in Audit Practice, and a team comprising of qualified Chartered Accountants having exposure to development agencies and INGOs/NGOs.


  1. Annual Fee

The eligible and interested firms shall quote their best annual fee detailing out their HR requirement basis for 1. Annual audit and 2. Interim audit for the year 2023.

  1. Reimbursement

Travel, accommodation, and food will be covered on an actual basis, separate from the Annual fee.

  1. Extra Fee
    In the case of additional audit/documentation requirements instructed by the Group Auditor, an extra fee will be negotiated.


Application procedures.

Submit an expression of interest/bids (Financial and Technical proposals) by 6:00 pm on Friday the 22nd of September 2023 with the subject field – “Expression of Interest for undertaking External audit to the addresses below.


Stromme Foundation East Africa Plot 1, Kololo Hill Drive

PO Box 27200 | Kampala – Uganda

Phone : +258 414 532 842/4



Deadline: 22nd September 2023


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Date Posted 2023-09-04
Valid Through 2023-09-22
Employment Type CONTRACTOR
Hiring Organization Strømme Foundation (SF)
Job Location Kampala, Kampala, Kampala, 0256, Uganda

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