CALL FOR EXPRESSION OF INTEREST – Audit Services
Audit Service for the Financial Year Ending March 31st, 2026,2027 and 2028
To conduct annual end-of-year audits of the Protected Areas Conservation Trust (PACT) and a general assessment of operations and procedures in accordance with International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA).
Background:
The Protected Areas Conservation Trust (PACT) is a statutory organization established as a Trust Fund under the Protected Areas Conservation Trust Act, Chapter 218 of the Laws of Belize, Revised Edition 2020. Since its establishment in 1995 as Belize’s national Conservation Trust Fund, PACT has been at the forefront of conservation efforts in Belize, with significant legislative amendments in 2002, 2015, and 2017 enhancing its mandate. Sourcing funds nationally and internationally, PACT contributes to financing the sustainable management and development of Belize’s natural and cultural heritage through partnership and collaboration with government agencies, non-governmental organizations, and community-based organizations that manage Belize’s National Protected Areas System.
Objectives of the Audit Services:
- To conduct annual general end-of-year audits of PACT’s accounts in accordance with IFRS and ISA.
- To perform a general assessment of financial operations and procedures to ensure compliance with internal controls and IFRS.
- To express an independent audit opinion on the financial statements.
- To submit a comprehensive audit report and management letter identifying findings and recommendations.
The services will include but not be limited to the following activities:
- Plan and perform the audits to obtain reasonable assurance that the financial statements are free of material misstatement.
- Audit the statements of financial position, comprehensive income, changes in equity, and cash flows for each fiscal year ending March 31, 2026, 2027, and 2028.
- Examine, on a test basis, supporting documentation and disclosures in the financial statements.
- Assess the accounting principles and significant estimates used by management.
- Evaluate the presentation of financial statements in accordance with IFRS.
- Conduct a risk-based assessment of internal controls, fraud risk, and governance structure.
- Confirm compliance with relevant legal, regulatory, and donor requirements.
- Prepare and submit a Management Letter with audit observations and recommendations.
Tasks of the Auditor:
The Auditor, under the guidance of the Accounting & Administration Manager of PACT, will conduct a General End of Year Audit of PACT’s Account and General Assessment of all operations and procedures in accordance with the IFRS and International Standard on Auditing (ISA).
Specifically, the Auditor will:
- Conduct a situational analysis to identify the scope, timeline, and required resources.
- Submit a proposal including a work plan, methodology, and budget.
- Execute the audit work in accordance with the approved plan and ISA guidelines.
- Liaise with PACT’s Accounting Unit and provide periodic status updates.
- Prepare a draft audit report and obtain management feedback.
- Submit the final audit report, financial opinion(s) and management letter.
Expected Outputs/Deliverables:
The expected outputs from the Services are:
- A detailed audit proposal and work plan by agreed timelines and budget.
- A draft and final Audit Report for each fiscal year, including an independent opinion.
- A Management Letter identifying weaknesses, risks, and recommendations.
- All working papers and supporting documentation.
Schedule of Payments:
# | Deliverable | Percentage |
1 | Upon contract signing, delivery and acceptance of Inception Report | 20% |
2 | Submission and acceptance of first draft report | 40% |
3 | Submission and acceptance of final audit report | 40% |
Qualifications:
PACT is seeking a firm with the following qualifications:
- Minimum of five (5) years of experience conducting audits of nonprofit or donor-funded organizations of comparable size and complexity.
- Demonstrated knowledge of International Standards of Auditing (ISA) and International Financial Reporting Standards (IFRS).
- Have adequate relevant professional and educational qualifications, or able to provide audit staff with adequate qualifications, experience, and competence.
- Qualifications desired include professional staff who are Certified Professional Accountants (CPA), a part of the Association of Chartered Certified Accountants (ACCA), and Certified Internal Auditor (CIA) among others.
Tenure:
The tenure of the audit services will be for a period of three (3) years; April 2026 – August 2028.
Procurement Details:
Interested parties are asked to submit a signed letter of interest and a detailed proposal for the deliverables. The proposal should include methodology, work schedule, quality control and quality assurance. The proposal shall also describe the composition of the firm and relevant years of experience. A financial proposal shall also be submitted.
PACT provides equal opportunity to all eligible and qualified entities/individuals. Interested parties shall be invited to submit formal bids. Considerations to be made in the selection of a successful bid shall include, but not limited to:
- Demonstration of the ability to provide high-quality service to PACT
- Demonstrated experience in undertaking scope of work
- Conformity to economy and efficiency requirements of PACT
Expressions of Interest should be submitted no later than November 30, 2025, to:
Mr. Radin Santos
Procurement Officer
Protected Areas Conservation Trust
Soft Copies should be sent via email to:
procurementofficer@pactbelize.org and acct@pactbelize.org
Packages are to be labelled as
“Expression of Interest Re: PACT Audit Services”
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PACT is an equal opportunity employer and does not discriminate against protected characteristics (gender, age, sexual orientation, race, nationality, ethnicity, religion, disability).
PACT is not liable for any costs incurred Consulting Teams in submission of their application.