REQUEST FOR EXPRESSIONS OF INTEREST (EOI) FOR INCLUSION ON THE OFFICIAL APPROVED LIST OF EXTERNAL AUDITORS FOR COOPERATIVES IN RWANDA

BACKGROUND

The cooperative sector is organized as a key contributor to employment creation, income generation, value addition to agricultural products, and the dispersal of enterprises, all of which are critical pillars in achieving Vision 2050 and advancing Rwanda towards a middle-income economy. However, the sector has not yet fully realized its potential due to persistent challenges, particularly in financial management, governance, and compliance with the legal and regulatory framework.

In this regard, the Rwanda Cooperatives Agency (RCA), in alignment with the Government of Rwanda’s initiatives and in implementation of Article 117, paragraph 2 of Law N0 057/2024 of 20/06/2024 governing cooperatives in Rwanda, which provides that audits may be conducted by a competent person selected by a cooperative from a list approved by the National Agency, intends to establish and keep an approved list of external auditors eligible to perform audits of cooperatives upon selection through the cooperatives’ internal procurement processes.

Accordingly, RCA seeks to prequalify and accredit a pool of External Auditors (both individuals and audit firms) for cooperatives and to publicly disclose the requirements and criteria for inclusion on the approved list of cooperative external auditors in Rwanda.

OBJECTIVE OF THE EOI

Overall objective of the EOI

To establish a transparent, competitive, and merit-based framework for the identification, prequalification, and accreditation of competent external auditors to be included on the official approved list for auditing cooperatives in Rwanda, in order to strengthen financial accountability, transparency, and sound governance within the cooperative sector.

Specific Objectives of the EOI

1. Establish a Competent Pool of External Auditors for cooperatives
2. Financial mismanagement
3. Fraud and embezzlement
4. Weak internal controls
5. Governance gaps within cooperatives
6. Having at least A0 in Accounting, Public Finance and Cooperative management add business management specialized in Accounting or finance, forensic accounting.
7. Being a qualified member of one of the Professional Qualification (ACCA, CPA, CIA) is an added value.
8. Application letter;
9. A detailed Curriculum Vitae duly signed;
10. A certified copy of the Original required Degree;
11. Certificates of rendered services referees and eventually their recommendation letters (/added value)
12. Must be independent from the cooperative: No shareholding, employment, governance or management role in the cooperative to be audited.
13. Experience in external auditing;
14. Experience in financial statement audits;
15. Experience in internal-control assessments;
16. Experience in governance/compliance audits;
17. Experience in fraud-risk assessments; and preferably
18. Experience in auditing cooperatives or other member-based organizations.
19. Be a registered audit firm with extensive knowledge in field of auditing, financial management, accounting and cooperative management;
20. Employ at least one qualified accountant who must be a member of one of the following professional bodies: ACCA, CPA(R), CPA (R), CPA (K) and CIA, the audit firm staff must have an experience of at least 5 years in auditing or other related fields;
21. Have a physical address;
22. Summary of qualification and experience of at least four (4) key personnel.
23. An application letter duly signed;
24. A valid copy of business incorporation issued by competent organs clearly containing the required business activities;
25. A certified copy of the Original required professional certificate required for an accountant employed by a firm;
26. A valid Copy of Social Security certificate;
27. A Valid Copy of the tax clearance certificate issued by RRA;
28. A good standing certificate issued by competent organs;
29. A copy of a valid employment contract duly signed between the firm and the required qualified accountant;
30. A document summarizing the qualifications and experience of four (4) key personnel.
31. Organization profile;
32. Proof of legal registration;
33. Proof of professional registration/licensing;
34. Evidence of inclusion on the RCA-approved external-auditor list;
35. Relevant experience;
36. At least [3] comparable assignments;
37. Proposed audit methodology;
38. Risk-assessment methodology;
39. Internal-control assessment methodology;
40. Fraud and irregularity risk approach;
41. Work plan and timetable;
42. Quality-assurance arrangements;
43. CVs of proposed personnel;
44. Independence declaration;
45. Confidentiality undertaking;
46. References;
47. Professional indemnity insurance evidence, where required; and
48. Any other documents specified in the solicitation.
49. Forensic audit;
50. Information systems;
51. Taxation;
52. Procurement;
53. Agriculture/value-chain operations;
54. Financial services; or
55. Legal/compliance matters.
56. The Applicants (firms or individuals) shall submit anapplication file in Pdf format on the following email address:application.eoi@rca.gov.rw
57. The Application shall be received from02/10/2026 to 22/10/2026 at 17H00 (PM).
58. Paying an annual fee of 50,000 Frw on account no 1200046 opened in National Bank of Rwanda (BNR);
59. Signing a compliance commitment to abide by the law and regulations in force and especially the Law No 057/2024 of 20/06/2024 governing cooperatives in Rwanda, regulations and Directives issued by Rwanda Cooperatives Agency in relation to the relationship between the auditor and the cooperative to be audited as well between the auditor and RCA in relation to the elaboration of external audit report, before starting auditing cooperatives as external auditor.

To detect, evaluate, and prequalifyqualified, competent, and experienced external auditorsto form an official pool for auditing cooperatives in Rwanda.

Strengthen Financial Accountability and Transparency

To make sure that cooperatives are audited byindependent and professional auditors, thereby enhancing transparency, accountability, and integrity in cooperative financial management.

Enhance Risk Management and Governance

To assist early detection of:

assist Sustainable Cooperative Development

To contribute to the financial sustainability, credibility, and investor/member confidencein cooperatives through reliable audit assurance.

3. CONDITIONS REQUIRED FOR BEING SHORTLISTED AS EXTERNAL AUDITOR OF COOPERATIVES

Conditions vary for individuals or firms who wish to be on the approved list of external auditors of cooperatives as explained below.

Conditions required for individuals

Individual consultants to be shortlisted as external auditor of cooperatives must fulfill the following minimum requirements:

Requirements for individuals:

The applicant should demonstrate:

Conditions required for being shortlisted as auditing firm for cooperatives

Firms to be shortlisted as external auditor for cooperatives must fulfill the following minimum requirements:

Requirements for Firms:

REQUIRED TECHNICAL PROPOSALS

Each auditor to be selected by a cooperative shall submit:

For complex or high-risk cooperatives, the Procuring Entity may require additional specialists in:

APPLICATION PROCEDURE

An individual or firm that wishes to be approved by RCA and figure on the approved list of external auditors for cooperatives must follow the following procedure:

SUBJECT SHALL BE: REQUEST FOR EXPRESSIONS OF INTEREST (EOI) FOR INCLUSION ON THE OFFICIAL APPROVED LIST OF EXTERNAL AUDITORS FOR COOPERATIVES IN RWANDA

RESPECT OF LEGAL PROVISIONS AND REGULATIONS

The approved auditor shall have the following obligations:

Done at Muhanga, on 01/10/2026

Digitally Signed By DG RCA 2026.10.01

14:55:15 +02'00'

KAMANZI Francis Director General