Donors · World Bank
Project implementation units, ministries, agencies and public enterprises: World Bank financing agreements require the project financial statements to be audited by independent auditors acceptable to the Bank and furnished by the date set in the Disbursement and Financial Information Letter. MGI BFC conducts these audits under International Standards on Auditing and the Bank's terms of reference, in English and French. Registered with the Tunisian Order of Chartered Accountants (OECT), member of MGI Worldwide.
Audit under International Standards on Auditing (ISA) of sources and uses of funds, expenditure by component and category, and project cash balances, with an opinion in the format required by the terms of reference.
Review of designated account movements and reconciliation, withdrawal applications and statements of expenditure, and consistency with disbursements recorded by the Bank.
Testing that expenditure was incurred for the purposes of the project, in line with the financing agreement, expenditure categories and procurement procedures.
Internal control and financial management weaknesses, recommendations, management responses, and follow-up of prior-year recommendations.
1. Terms of reference. Review of the financing agreement, disbursement letter and terms of reference; timetable set against the Bank's submission date.
2. Planning. Understanding the project, its components and financial management system; risk assessment; work programme.
3. Fieldwork. Tests on expenditure, designated account, procurement and assets; interviews with the implementation unit; regular progress meetings.
4. Reporting. Draft report and management letter discussed with the unit, then final reports delivered on time, in English or French.
Office: Golden Tower Building B8.2, Centre Urbain Nord, 1082 Tunis. We work throughout Tunisia and remotely.
The General Conditions refer to the date specified in the Disbursement and Financial Information Letter. That letter, or the financing agreement, sets the deadline; six months after the end of the fiscal year is the most common practice. Check the date in your own documents: that is the one that applies.
The borrower or the implementing entity, under the procurement rules that apply to the project. The auditor must be independent and acceptable to the Bank.
Yes: the General Conditions require them to be made publicly available in a timely fashion and in a manner acceptable to the Bank.
No: each engagement is quoted in a proposal tailored to the terms of reference, in line with the rules of the profession.
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