Accounting and Auditing, Accounting System Design

Afropay Digital Financial Technology Share Company Invites bidders for External Audit

Major contract Accounting and Auditing, Accounting System Design Addis Ababa English

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Description

Invitation for External Audit

Audit Background and Objectives

Background: Afropay Digital Financial Technology Share Company is incorporated under the laws of Ethiopia and registered with the National Bank of Ethiopia providing digital payment solutions, Afro Gateway. The Company is engaged in digital payment solution business. Currently more than one million transaction value is processed through our gateway.
Audit Objectives:
- Express an independent opinion on financial statements.
- Verify reconciliation accuracy between balance at accounting system versus balance at bank.
- Evaluate compliance with central bank regulations, payment licenses, and digital asset rules.

Scope of Work and Timeline

Scope:
- Audit the statement of financial position and income statement.
- Verify costs capitalized underdevelopment assets and preoperational expenses.
- Review tax and regulatory compliance.
- Establish baseline financial controls to prepare the startup for future institutional scaling and subsequent funding rounds.
- Cover the specific fiscal year (July 1, 2026 to June 30, 2026).
Deliverables:
- Audited financial statements with an independent audit opinion.
- Management letter detailing internal control gaps, system-driven financial risks, and fixes.
Timeline: Fieldwork begins by 1/9/2026, and the final report is due by 15/9/2026.

Eligibility and Minimum Requirements

Firm Profile: Valid professional accounting license and registration with the national regulator.
Fintech Experience: At least two years of experience auditing fintech, banks, or high-volume payment processors.
Team Qualifications: Audit Manager must hold a recognized certification (ACCA, CPA, or equivalent).
Independence: No conflict of interest with the company, investors.

Proposal Submission Guidelines

Two-Envelope System: Separate technical and financial proposals into distinct sealed envelopes or separate password-protected PDF files.
Technical Proposal: Include company profile and CVs of the tech-audit team, methodology and work plan.
Financial Proposal: Quote total fees in local currency.
Validity: Proposals must remain valid for days after submission.

Evaluation Criteria

Technical Score (70%):
- Experience with fintech models, high-volume transactions, and regulatory bodies: (30%)
- Strength of tech-audit methodology and data extraction capabilities: (25%)
- Qualifications of the core Audit team: (15%)
Financial Score (30%):
- Total cost competitiveness and clear breakdown of service hours.

Submission Deadline and Address

Deadline: 23/8/2026 (at 11:00 PM in the local time). Late bids are rejected.
Submission Address:
- Organization Name: Afropay Digital Financial Technology S.C
- Physical Address: Kadico Building, 5th Floor, Wollosefer.
- Email for Inquiries: [email protected]

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