The Ethiopian Media Council (EMC) is seeking an independent, certified external audit firm to audit its financial records for the fiscal year.

Here is a comprehensive, professional Terms of Reference (TOR) tailored specifically for the Ethiopian Media Council (EMC). It is structured to comply with the rules of the Authority for Civil Society Organizations (ACSO) and the Accounting and Auditing Board of Ethiopia (AABE), incorporating standard International Public Sector Accounting Standards (IPSAS) requirements.

Terms of Reference (TOR) for the Provision of External Audit Services

1. Background

The Ethiopian Media Council (EMC) is an independent, member-led, umbrella civil society organization registered with the Authority for Civil Society Organizations (ACSO) under Proclamation No. 1113/2019. Established as a self-regulatory body, the Council serves publishers, broadcasters, community media, online publishers, and journalists’ associations across Ethiopia.

The EMC works to protect press freedom, enforce media ethics, administer an independent public complaints/arbitration mechanism, and build professional media capacity. It operates with funding generated from member contributions, localized media funds, and international development partners (e.g., UNESCO, European embassies). To maintain transparency and comply with legal requirements, the EMC seeks to hire an independent, certified external audit firm to audit its financial records.

2. Objective of the Audit

The objective of the assignment is to enable the external auditor to express a professional and independent opinion on the financial position of the Ethiopian Media Council for the fiscal year ending [Insert Month, Day, Year], ensuring that:

• The financial statements present a true and fair view of the Council’s financial position.
• The funds provided to the Council by donors, members, and partners have been utilized for their intended purposes in compliance with grant agreements and budgets.
• The financial statements have been prepared in accordance with International Public Sector Accounting Standards (IPSAS) and relevant Ethiopian legal frameworks.

3. Scope of the Work

The audit will be conducted at the EMC headquarters in Addis Ababa in accordance with International Standards on Auditing (ISA). The scope of work includes, but is not limited to, the following:

• Financial Statement Verification: Audit the Statement of Financial Position, Statement of Financial Performance (Income and Expenditure), Statement of Cash Flows, and Notes to the Financial Statements.
• Internal Control Review: Evaluate the adequacy and effectiveness of the Council’s internal financial control systems and accounting procedures.
• Compliance Review: Verify compliance with the rules of the Authority for Civil Society Organizations (ACSO), particularly the administrative-to-program cost utilization ratios (e.g., the statutory 20/80 resource allocation baseline if applicable).
• Donor & Fund Tracking: Ensure accurate verification of localized sub-grants, such as the Media Fund, and track specialized international partner project accounts against respective grant terms.
• Asset and Inventory Verification: Sample check the Council's fixed asset registry and physical inventory tracking.

4. Deliverables and Reporting Timelines

The chosen external auditor is expected to deliver the following outputs:

1. Draft Audit Report: To be presented to EMC management for review and feedback.

2. Final Audit Report & Opinion: Comprehensive, signed financial audit report containing an independent professional opinion.

3. Management Letter: A separate report outlining internal control weaknesses identified during the audit, along with clear, practical recommendations for improvement and management's responses.

Tentative Timeline

• Assignment Commencement: Within [X] days of contract signature.
• Submission of Draft Report: [X] weeks from start date.
• Submission of Final Report: Within [X] days after receiving management feedback.

5. Eligibility and Firm Qualifications

Interested audit firms must fulfill the following mandatory legal and technical criteria to be considered:

Legal Requirements (Mandatory)

• Valid and renewed business license for the current fiscal year.
• Renewed professional practice license from the Accounting and Auditing Board of Ethiopia (AABE).
• Taxpayer Identification Number (TIN) and valid VAT registration certificate.
• Current tax clearance certificate from the Ethiopian Ministry of Revenue.

Technical & Professional Experience

• A minimum of five (5) years of demonstrated experience in conducting financial audits, with a solid track record of auditing non-governmental organizations (NGOs) or civil society platforms in Ethiopia.
• Demonstrable experience with IPSAS (International Public Sector Accounting Standards) financial reporting.
• Audit team leads must hold globally recognized professional accounting qualifications (e.g., ACCA, CPA) and be active members in good standing with the AABE.
• Excellent communication skills, with the ability to provide final reports fluently in English.

6. Application and Selection Process

Submission Requirements

Firms must submit their technical and financial proposals in two separate sealed envelopes containing:

• Technical Proposal: Documented proof of legal eligibility, firm profile, summary of similar assignments executed, and CVs of the proposed audit team members.
• Financial Proposal: Clear breakdown of the total audit fee, including any applicable taxes and expected out-of-pocket expenses.

Evaluation Criteria

Proposals will be assessed based on a cumulative evaluation framework:

• Technical Proposal Weight: 80%
• Financial Proposal Weight: 20%

Application

Send to email: etmediacouncil@gmail.com

Submit Physically: Mesqel Square Finifine Building 8th Floor within 10 working days

Tender details

• Deadline: 2026-07-02
• Bid closing time: 17:00
• Bid closing (note): Within 10 working days from the date of this announcement.
• Bid opening: 2026-07-02 17:00
• Bid opening (note): No Specific Opening Date and Time
• Region: Addis Ababa
• Publishing entity: Ethiopian Media Council
• Buyer TIN: 0067343941
• Published: Jun 22, 2026
• Posted at: 2026-06-22T09:39:20.000Z
• Buyer website: https://ethiopianmediacouncil.org/