(Financial Auditor)

Country: Republic of Azerbaijan

Name of project: “Construction of The Main Irrigation Canal from The Maiden Tower Reservoir Project”

Type of service: Financial Auditor

Mode of Financing: Instalment sale and IsDB grant

Financing No. AZE-1024

The Government of the Republic of Azerbaijan has received financing from the Islamic Development Bank toward the cost of the “Construction of The Main Irrigation Canal from The Maiden Tower Reservoir Project”, and intends to apply part of the proceeds for consultant services. The services include Audit of Project’s Financial Statement and preparation of its Report. Please refer to the General Procurement Notice for this project that appeared in IsDBs website, dated 19 December 2024.

The primary objective of the audit engagement is to enable the auditor to express a professional opinion as to whether (i) the Project Financial Statements (PFS) show true and fair view of the Project’s financial position for the period starting from the first disbursement date (expected date 15/05/2025) until the end of the project (expected date 15/05/2030) and funds receipts and expenditures incurred during the period then ending. (ii) Expenditures reimbursed on basis of Statements of Expenditures are eligible to Bank financing and are reflected on the PFS, and for this purpose, the auditor shall carry out whatever necessary examinations of the statements and underlying records and control systems. The Audit opinion should also state whether the Procurement Guidelines of the Islamic Development Bank have been properly applied and in accordance with the Project’s Financing Agreement No. AZE- 1024: (iii) the Executing Agency is compliant with the covenants of the financing agreements and the applicable laws and regulations; (iv) the Special Account (if any) presents fairly the availability of funds and the transactions made are in accordance with the provisions of the financing agreement; and (v) assess the adequacy of the internal control mechanisms and (vi) provide an opinion on the availability and utilization of counterpart financing (Government share of project financing)

The Azerbaijan State Water Resources Agency, Administration of Facilities under Construction PLE now invites eligible consultants to indicate their interest in providing the services. The shortlisting criteria are as follows for the assignment: The auditor should be registered as certified public accountant with the appropriate professional body in the country and have substantial experience in auditing major projects in the country, including projects funded by international financial institutions or multilateral development banks. In the case of government auditing, the audit team should be adequately staffed with qualified auditors having relevant background and experience in auditing. The same audit principles should be applied if the audit is conducted by private or government auditors. The auditor must have a certificate issued by reputable international companies showing compliance with ISO 27001:2013 version of Information Security Management System.

The key audit team shall comprise at minimum:

a. An Audit Manager with at least 10 years of experience in auditing and has sound knowledge of IFI/MDBs financing procedures. He/ she should be a member of an ACCA.

b. A Team Leader with a minimum of 7 years of experience in auditing. He/ she should be a member of ACCA; and

c. An Assistant Auditor with 3-5 years of experience and professional qualifications.

Interested firms must provide information indicating that they are qualified to perform the services (brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc.).

The detailed Terms of Reference (TOR) for the assignment is attached to this request for expressions of interest (ANNEX 1).

A consultant will be selected in accordance with the Least Cost Selection (LCS) method set out in the Guidelines for the Use of Consultants under Islamic Development Bank Financing (current edition).

Interested consultants may obtain further information at the address below during office hours 09:00 to 17:00 (local time).

Expressions of interest must be delivered to the address below by April 7th 2025.

Azerbaijan State Water Resources Agency, Administration of Facilities under Construction PLE

Attention: Mr. Fuad Abishev, Deputy Chairman of the Board

69 A Moscow Ave, Baku, Azerbaijan, AZ1012, 5th floor

Tel: +994 50 2229397

Fax: +994 12 4935165

E-mail: [email protected]

Important note: Participants may obtain TOR digitally published in isdb.org and dgmarket.com websites.