Term of Reference – Finance Consultant and Auditor

Inya Economics

www.inyaeconomics.org

Yangon, Myanmar

Term of Reference – Finance Consultant and Auditor

Organization Background

Inya Economics was established in 2017 as a locally-based independent think tank with a strong focus on sustainable and inclusive development. The organization employs holistic and alternative approaches, as well as policy and academic advancements, to promote people’s prosperity. Its primary mission is to advance economic knowledge democratically and share economic value with society’s well-established members. Inya Economics strengthens policy considerations through rigorous evidence-based research that benefits a wide range of stakeholders, including policymakers, governmental bodies, and both non-profit and for-profit organizations.

Position: Finance Consultant and Auditor

Report to: Program Director/Hiring Manager

Contract type: 3 Months (Short term contract)

Location: Remote working

Objective of Financial Consultant Role

To  assist in providing efficient and accurate financial data, accounting and record keeping of organization funds and property in accordance with prescribed regulation and generally acceptable accounting principles and to providing efficient financial to organization’s activities.

Objective of Auditor Role

The role of an external auditor for organization is to independently assess financial statements, ensure compliance with accounting standards and regulations, evaluate internal controls, identify and mitigate risks, and provide an audit report that enhances transparency and credibility, ultimately promoting financial accountability and trust among stakeholders and donors.

Key Responsibilities of Financial Consultant

• Reviewing and discussion with key stakeholders for current financial system and problems of the organization
• Setting financial management system for organization (Delegation of power within organization)
• To gather input and ensure by consultation with external auditor, founders of the organization, program directors and key stakeholders to discuss relevant finance policy and regulations for organization
• Drafting the financial procedures and templates
• Drafting the financial reporting procedures for assuring management transparency, responsibility and accountability
• Essential documents and templates are financial report template, financial report of the project, financial report for the year end presentation to BOD, related donors and partners needed financial templates, Budget Plan for project, financial transaction records templates, financial statement for Impact report and financial statement/report for audit.

Key Responsibilities of an Auditor

• Financial Examination: Reviewing an organization’s financial records and transactions for accuracy and completeness.
• Internal Control Assessment: Evaluating the effectiveness of internal controls to prevent and detect errors or fraud.
• Compliance Verification: Ensuring that the organization adheres to accounting standards and regulatory requirements.
• Risk Identification: Identifying financial and operational risks that may impact the organization.
• Audit Report: Providing an unbiased report on the fairness of financial statements and any findings related to compliance or internal controls.

These responsibilities aim to enhance financial transparency, accountability, and trust in the organization’s financial reporting.

If you are interested, please submit your resume and short cover letter(included proposed budget) to this email ([email protected]). The application submission should not be later than [07, December 2023]. Shortlist candidate will be contacted for the further conversation.