Call for Expression of Interest for Audit Services for Green Climate Fund Readiness Project 10

Call for Expression of Interest for Audit Services for Green Climate Fund Readiness Project 10

Title of Project/Programme: Building Capacity for Climate Resilient Infrastructure and Sustainable Urban Land Management and Strengthening the Capacity of the Ministry of Economic Development for pre- Accreditation to the Green Climate Fund. 

Audit Service:  
To conduct a General Audit of the GCF Readiness 10 Accounts and General Assessment of all operations and procedures in accordance with the International Financial Reporting Standards (IFRS) on Auditing, Generally Accepted Auditing Standards (GAAS) or International Standard on Auditing (ISA).   

Background:

The Green Climate Fund (GCF) is a unique global platform established to respond to climate change by investing in low-emission and climate-resilient development. GCF was established to limit or reduce greenhouse gas (GHG) emissions in developing countries, and to help vulnerable societies adapt to the unavoidable impacts of climate change. Given the urgency and seriousness of this challenge, the Fund is mandated to make an ambitious contribution to the united global response to climate change.
Belize, like many other Small Island Developing States (SIDS), is particularly susceptible to the impacts of climate change. The country’s low-lying coastline and sectoral vulnerabilities to climate risk coupled with limited access to national financial, technological, and technical resources to build the country’s resilience, led to a ranking of #9 on the Climate Change Vulnerability Index for the Latin American and Caribbean Region.

Taking a proactive approach to building climate resilience, the Government of Belize has prioritized the capacity building of national institutions which can access climate finance and implement bankable projects and programmes. International funding agencies such as the Green Climate Fund (GCF) offer support to developing countries who are working to achieve climate adaptation and mitigation in accordance with their Nationally Determined Contributions to the Paris Agreement. GCF’s Readiness and Preparatory Support Programme supports country-driven initiatives by developing countries to strengthen their institutional capacities, governance mechanisms, and planning and programming frameworks towards a transformational long-term climate action agenda.

The development of Belize is depending on mitigating changes that are beyond our control and adapting to those that are projected to affect our population in the short and long-term. To achieve the latter, Belize must address barriers that may limit implementation of interventions and their impacts. Some of these barriers include the non-existence of climate smart development plans for human settlements and infrastructure. With almost half of the population in urban areas (45%), and rural to urban migration increasing over the last decade, lack of urban planning has become evident, with its associated challenges.

Standardized demographic features of human settlements need to be established to ensure that categorization and services are based on population size and demands. There is also limited recognition of the role of human settlements and urban land management in reducing energy consumption and GHG emissions, considering that urban areas generate approximately 80 percent of global energy and emit 50 to 60 per cent of the world’s GHG emissions.1 This Readiness addresses key areas to improve human settlements and infrastructure to make them climate resilient, while building the capacity of regulatory agencies in the public and private sectors. It will also equip municipalities with resources to improve urban planning and monitoring. Barriers to an enabling environment will be addressed by improving the relevant frameworks to support resilient human settlement urban planning and improving coordination and collaboration between regulating and service providing agencies and institutions. Increasing knowledge sharing will improve public buy-in and awareness on the importance of climate impacts, mitigation and adaptation and their relationship to protecting investments in human settlements and infrastructures.

In collaboration with the Ministry of Economic Development as the National Designated Authority of Belize, PACT will execute the activities as set out in the Readiness Proposal approved by the GCF, which includes procuring goods and material, professional services and consultants as is necessary.   

Objectives of the Audit Services: 

1. To conduct a general audit of the GCF Account based on the International Financial Reporting Standards (IFRS), Generally Accepted Auditing Standards (GAAS) or International Standard on Auditing (ISA).
2. To Conduct a General Assessment of all operations and procedures to ensure that GCF follows the General Accepted Accounting Principles and IFRS.
3. Express an opinion on the financial statements of GCF based on the audit.
4. Prepare a financial audit report. 

Qualifications:

PACT is seeking a firm with the following qualifications:

1. At least five (5) years professional experience in conducting financial audits of internationally funded projects, or audits of similar nature, type, and complexity, or donor-funded projects.

2. Have adequate relevant professional and educational qualifications, or able to provide audit staff with adequate qualifications, experience, and competence.

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, team composition with qualifications and relevant years of experience, quality control and quality assurance. A financial proposal shall also be submitted.  

The proposal should be addressed to:  

Mr. Radin Santos  

Procurement Officer  

Protected Areas Conservation Trust  

Re: Expression of Interest: GCF Audit Services 

Soft Copies should be sent via email to: procurementofficer@pactbelize.org and finmanager@pactbelize.org on or before 5:00pm on April 30, 2024. 

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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 by applicants in submission of their application. 

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