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Nascent Solutions recrute un cabinet d'audit financier
Terms of Reference for the Recruitment of an Audit Firm’s Services
Location: Yaoundé, CameroonPeriod: June-July 2026
A. Introduction
Nascent Solutions (Nascent) is a U.S.-based international development organization. The mission of the organization is to promote self-reliance by harnessing the creative and entrepreneurial drive of rural women and youth, to problem solve, build resilient local economies, and improve the quality of life for their families and communities. Nascent is currently implementing a United States Department of Agriculture (USDA) funded International Food for Education and Child Nutrition project in Cameroon.
As an International Organization operating in Cameroon, Nascent is expected by the Ministry of External Relations and the Ministry of Territorial Administration to submit annual reports of its activities in country. Also, for Nascent to continue its mission in Cameroon, its main donor and other potential donors need to be informed about how well their funding has been used. So, to ensure compliance with both Cameroon statutory laws and US Government policies, Nascent seeks the services of a qualified professional audit firm that understands both contexts to review Nascent’s Financials for the years 2024 and 2025 and provide its opinion on its operations.
B. Objectives
The external audit aims to provide independent assurance that the organization’s financial statements for FY2024 and FY2025 are free from material misstatement and present a true and fair view of its financial position and performance. The audit will specifically:
Assess whether the financial statements comply with the applicable financial reporting framework — U.S. Generally Accepted Accounting Principles (US GAAP) for the consolidated/headquarters financial statements, IFRS and the OHADA Uniform Act on Accounting Law (SYSCOHADA) for the Cameroon field-office statutory accounts — and disclose any departures.
Verify the accuracy, completeness, and proper recording of all financial transactions.
Evaluate compliance with statutory requirements, donor rules, and internal policies.
Review the effectiveness of internal controls related to financial management, asset safeguarding, and fraud prevention.
Confirm the authenticity and validity of reported assets, liabilities, revenues, and expenditures.
Identify any operational or control weaknesses that may affect financial integrity or program accountability.
C. Scope of Work
The audit firm will be responsible for the following tasks:
Audit Nascent’s financial statements for the period July 1,2024 – December 31, 2024, and from January 1,2025 to December 31, 2025, and independently express audit opinions for the period in accordance with International Standards on Auditing (ISA) and U.S. Generally Accepted Government Auditing Standards (GAGAS / Yellow Book), on whether the financial statements are presented in accordance with the accounting records of the organization and the applicable reporting framework.
Make sure commodities and services delivered have been done in accordance with the terms and conditions of agreements and applicable laws and regulations.
Verify that supporting documents, records, and accounts are maintained in accordance with U.S. Generally Accepted Accounting Principles (US GAAP) at the headquarters/consolidated level and with the OHADA Uniform Act on Accounting Law (SYSCOHADA) at the Cameroon field-office level and reconcile any differences between the two frameworks in a schedule appended to the audit report.
Where special accounts have been used, they have been maintained in accordance with the provisions of the relevant financing.
Evaluate the design and operating effectiveness of Nascent’s internal control over financial reporting and over compliance with federal award requirements, in accordance with 2 CFR §200.303 and GAGAS, and report any material weaknesses or significant deficiencies identified.
Make sure all external funds received have been used in accordance with the conditions of the relevant financing agreements with due attention to economy and efficiency, and only for the purpose for which they were provided.
Test compliance with the U.S. Office of Management and Budget (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200), including:
Allowability, allocability, and reasonableness of costs under Subpart E (§§200.400–200.475).
Procurement standards and competition under Subpart D (§§200.317–200.327).
Property and equipment management under §§200.310–200.316, including physical inventory of equipment purchased with federal funds.
Sub-recipient monitoring and management under §200.332.
Record retention and access requirements under §§200.334–200.338.
Cost share and matching contributions under §200.306, where applicable; and
Where federal expenditures equal or exceed the $750,000 threshold in §200.501, perform a Single Audit in accordance with Subpart F, including preparation of the Schedule of Expenditures of Federal Awards (SEFA) and the Data Collection Form (SF-SAC).
Evaluate and report on the respect of agreements with implementing partners or sub-recipients (if any) where funds were transferred to them.
Visit one or two regional warehouses for inventory and stock control.
Review current policies in place and make recommendations
Submit the final reports in English and French
D. Deliverables
The audit firm shall submit the following deliverables to Nascent:
An audit engagement letter and detailed audit plan within ten (10) business days of signing the contract.
Separate audited financial statements for FY2024 and FY2025, each with an independent auditor’s opinion issued under ISA and GAGAS (Yellow Book).
A Report on Internal Control over Financial Reporting and on Compliance, in the format required by GAGAS and 2 CFR §200.515.
Where applicable under 2 CFR §200.501, a Single Audit reporting package including the Schedule of Expenditures of Federal Awards (SEFA), Schedule of Findings and Questioned Costs, and the Data Collection Form (SF-SAC).
A Management Letter detailing internal control deficiencies, operational weaknesses, and prioritized recommendations.
A reconciliation schedule between US GAAP (headquarters) and OHADA / SYSCOHADA (Cameroon field office) balances.
Draft reports in English for management review, followed by final reports in English and French.
E. Timeline
Inception meeting and document request: within five (5) business days of contract signing.
Field work (headquarters and Cameroon field office, including warehouse visits): to be completed within thirty (30) calendar days of the inception meeting.
Submission of draft audit reports: within fifteen (15) business days after fieldwork completion.
Management response period: ten (10) business days from receipt of the drafts.
Submission of final audit reports (English and French): within ten (10) business days of receiving management responses.
Indicative target for final delivery: no later than September 30, 2026 — subject to confirmation at contract signing.
F. Eligibility:
This call is open to duly registered and authorized individuals or accounting/audit firms operating in Cameroon that meet the criteria outlined below.
G. Profile of Audit Firm
Demonstrated understanding of and experience with U.S. Government rules and regulations applicable to INGOs, including 2 CFR Part 200 (Uniform Guidance), Generally Accepted Government Auditing Standards (GAGAS / Yellow Book), and Single Audit requirements under Subpart F.
Demonstrated experience auditing USDA-funded or other U.S. federally funded programs implemented in Cameroon or the Central Africa region.
Demonstrated experience with the Cameroon INGO audit and reporting environment.
Registered and recognized by relevant accounting regulatory bodies in Cameroon.
Partner or manager must be a registered member of ONECCA (Ordre National des Experts Comptables du Cameroun).
Demonstrated expertise in the OHADA accounting system.
Documented history of successful delivery of comparable audits previously performed
Membership in an international accounting network is required.
H. Evaluation Criteria
Bids will be evaluated on a combined technical and financial basis. The indicative weighting is:
Technical capacity and relevant experience (USDA / 2 CFR 200 / GAGAS audits, Cameroon INGO audits, OHADA expertise): 40%
Proposed methodology, audit approach, and work plan: 25%
Key personnel (qualifications of partner, manager, and team; ONECCA registration; bilingual capacity): 20%
Financial proposal (all-inclusive fees in XAF or USD, exclusive of VAT): 15%
Bids must include: (i) a technical proposal addressing the Scope of Work and Deliverables; (ii) a separate financial proposal; (iii) CVs of key personnel; (iv) at least three references from comparable U.S. federally funded audits performed in the last five years; and (v) evidence of professional indemnity insurance.
I. Confidentiality and Independence:
The selected audit firm shall maintain strict confidentiality of all information accessed during the engagement, comply with the independence requirements of GAGAS and the IESBA Code of Ethics for Professional Accountants, and disclose any actual or perceived conflicts of interest prior to contract signing.
--------Nascent Solutions provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.
How to apply
Bid Submission Address:
Applications addressed to the Country Director must be submitted via email to procurement@nascents.org
Deadline for submission:
Friday, May 29, 2026, at 5:00 PM (Yaoundé time)
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