🇸🇱 Job Vacancies @ Munafa Ltd – External Audit Firm

INFORMATION ON THE JOB

Title: External Audit Firm.

Activity: Conduct independent audit on the institution’s financial statements for 2025, 2026 and 2027 financial years

CONTEXT

MUNAFA’s VISION & MISSION: 

Vision: 

A sustainable society with socio-economic inclusion, entrepreneurial excellence, and zero poverty. Mission: 

Provide adapted financial and non-financial services for vulnerable and underserved entrepreneurs to develop sustainable income generating activities and adopt greener practices, enabling self-reliance, resilience and improved standards of living 

PRESENTATION 

MUNAFA Ltd is an established social microfinance institution in Sierra Leone, created since 2019 by Entrepreneurs du Monde (EdM); an NGO located in France. Munafa is committed to delivering accessible and affordable financial services and non-financial services to underserved entrepreneurs, in order to improve their living conditions. Munafa currently operates three branches in Freetown, two in Waterloo, one in Moyamba, and one in Bo, with a total workforce of 84 employees. The team is composed entirely of Sierra Leonean and is supported on-site by one international EdM personnel, along with additional remote support from other EdM units. As part of MUNAFA’S commitment to transparency, accountability and strong governance, MUNAFA conducts an annual external audit on its financial statements in accordance with relevant applicable accounting and regulatory standards.

To ensure continued compliance, provide assurance to stakeholders, and assess the integrity of its financial reporting processes, Munafa seeks to engage a qualified and reputable external audit firm. The selected firm will be responsible for performing an independent audit on the institution’s financial statements for 2025, 2026 and 2027 financial years.

1

1. Objective of the Audit 

The aim of the statutory audit is to:

• Provide an independent and objective opinion on Munafa’s financial statements in accordance with relevant  accounting standards (IFRS, IAS).
• Evaluate whether Munafa’s financial statements present a true and fair view with all material respect. • Assess the adequacy of compliance with relevant laws, regulations, and donor requirements.
• Evaluate the effectiveness of internal controls, governance processes, and provide recommendationsfor improvement.

2. Scope of Work 

The external audit includes but not limited to the following:

• Verify supporting documents for all major financial transactions and management assertions, including loans, deposits,  grants, revenue, other income, expenses, assets, and liabilities.
• Assess branch cash controls, loan disbursements, repayments, and savings deposits and withdrawal practices. • Review segregation of duties, approval limits, cash management, branch controls, and system access controls. • Assess compliance to laws, regulations, and prudential guidelines issued by the Central Bank.
• Perform sample testing across multiple branches to verify consistency in operations and adherence to policies.
• Evaluating payroll, employee tax, goods and services tax, withholding tax and corporation tax compliance. • Providing practical recommendations for tax compliance and future planning on corporation tax. • Review of internal control systems and governance processes.
• Provide a management letter highlighting findings, risks, control weaknesses, and recommendations. • Issue an independent and objective audit opinion on the financial statements.

3. Deliverables 

 The select audit firm shall provide:

1. Audit Report: An independent and objective audit report on Munafa’s financial statements.
2. Management Letter: Highlight findings, control weaknesses, compliance gaps, operational issues, financial reporting  errors, tax and regulatory concerns and practical recommendations for improvement.
3. Meetings/ Presentation: A formal representation of the audit findings, control weakness, compliance gap, operational  issues, financial reporting error, tax and regulatory concern and practical recommendation to management and the  board.
4. Duration and Timeline 

The yearly audit process should be completed within 60 Working days of signing the engagement contract.  Key milestones include:

1. Signing of engagement Letter and Kick-off meeting: 29th December 2025
2. Cash count: 31st December 2025  
3. Submission of first draft reports: 1st March 2026
4. Meeting and Presentation: 7th April 2026.
5. Final report submission: 8th April, 2026. 
6. Eligibility and Qualifications 
7. Be a legally registered audit firm in Sierra Leone with experience in auditing Private Companies and NGOs. 2. Registered with the Institute of Chartered Accountants of Sierra Leone (ICASL) and possess a current practicing  license.
8. Minimum of five (5) years’ experience in auditing financial institutions (Microfinance entities) and NGOs. 4. Possesses current valid business registration and up-to-date tax compliance certificate.
9. Demonstrate knowledge of IFRS, ISAs, and Microfinance sector financial reporting.

2

6. Demonstrate knowledge of the regulatory and financial environment in Sierra Leone
7. Proven ability to carry out audits across multiple locations within Sierra Leone.
8. A team including at least one Chartered Accountant (ACCA) and experienced auditors.
9. Application Process: Required Documents 
10. Financial Proposals including all cost and fees.
11. A brief company profile outlining relevant experience and qualifications.
12. Detail Technical proposal explaining risk assessment, audit methodology, approach, and work plan. 4. Detailed CVs of proposed team members.
13. List of at least three (3) similar past assignments with references.
14. Company registration and ICASL certification copies.
15. Duration and Reporting 

The engagement is expected to begin by 8th January, 2026 at the latest and must be finalized within 60 working days. The  selected firm will provide updates and submit all reports directly to the Chairman Board of Directors, Munafa Limited, through  the Executive Director.

11. Evaluation Criteria 

Proposals will be evaluated based on:

1. Technical expertise and experience (40%).
2. Methodology and approach (30%).
3. Financial proposal (20%).
4. References and track record (10%).
5. Submission and Guideline 

All proposal must be sent via email: recruitment2@munafaltd.com

Deadline for Submission: 8th December, 2025

For enquiry: Contact: info@munafaltd.com/+23276305772

13. Terms and Conditions 

• Munafa Social Microfinance Limited reserves the right to reject any or all proposals without assigning reasons. • Late submissions will not be considered.
• The selected auditor must sign a confidentiality agreement and adhere to ethical standards.
• Payments will be made in line with agreed milestones and upon satisfactory submission of deliverables, as outlined  in the signed contract.