APAPER INVESTMENT COMPANY Plc

apaperecoles@gmail.com

www.apaper.ac.rw

Te: 0788232154/ 0788363661

TERMS OF REFERENCE (ToR)

Hiring of an External Audit Firm for APAPER INVESTMENT COMPANY Plc 

1. Context

APAPER INVESTMENT COMPANY Plc (hereinafter referred to as “the Client”) is a legally registered investment company and the parent entity of APAPER INTERNATIONAL SCHOOL (hereinafter referred to as “the School”), a private educational institution committed to strong governance, transparency, accountability, and sound financial management. In line with best practices and regulatory requirements, the APAPER INVESTMENT Company plc intends to engage a qualified and independent audit firm to conduct and produce financial certified audit for the fiscal year 2025 (starting from 1st January to 31st December 2025).

2. Purpose of the Assignment

The purpose of this assignment is to obtain independent and professional assurance that the company’s financial statements present a true and fair view, and that its financial records are accurate, complete, and reliable in accordance with applicable accounting standards, laws, regulations, and internal policies and procedures. 

3. Objectives of the Audit

The specific objectives of the audit engagement are: 

1. Express an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.
2. Verify the accuracy, completeness, and reliability of the company’s financial records and supporting documentation.
3. Assess compliance with applicable laws and regulations, including statutory and regulatory requirements governing the entity’s operations.
4. Identify and report material weaknesses, risks, and control deficiencies, and provide practical recommendations for improvement.
5. Enhance the credibility of financial information to support informed decision-making by management, the Board, and other stakeholders.

4. Scope of Work

The scope of work shall cover :

 Financial Statements and Records Review
Examination of the company’s financial statements and underlying accounting records to assess their accuracy, completeness, reliability, and compliance with applicable accounting standards.

 Reporting and Recommendations
Preparation of a comprehensive report presenting findings, conclusions, and recommendations aimed at improving financial management, operational efficiency, and governance effectiveness.

5. Duration of the Assignment

The assignment shall be conducted within 15 days starting from the signing of the contract.

The contract may be renewed subject to satisfactory performance and mutual agreement.

6. Deliverables

The audit firm shall submit the following deliverables: 

- Audit Report in hard copy and electronic format. 

- Presentation of the audit report to the General Assembly Ordinary Meeting

7. Reporting and Coordination

• The audit firm shall report primarily to the Board of Directors of APAPER INVESTMENT COMPANY Plc
• Final reports shall be submitted in both hard copy and electronic format.

8. Confidentiality

The audit firm shall treat all information obtained during the assignment as strictly confidential. No information shall be disclosed to third parties without prior written authorization from the APAPER INVESTMENT COMPAY Plc.

9. APPLICATION DOCUMENTS

The application file of an auditor must include:

1. Administrative Documents:

1. Submission letter;
2. Certificate of Domestic Company registration
3. License from relevant authorities 
4. Certificate of non-indebtedness to RRA;
5. Certificate of non-indebtedness to RSSB;

1. Technical Proposal Must Include:

1. Profile of the bidder;
2. Methodology;
3. Three recent technical references from the last three years;
4. Implementation schedule;
5. List of personnel with their CVs and responsibilities;
6. Photocopies of the listed personnel’s diplomas and identity cards.

1. Financial Proposal
   The financial proposal must clearly indicate whether the estimated cost is inclusive of all taxes or exclusive of taxes.

10. Ethical Considerations and Independence

The audit firm must declare any potential conflict of interest and maintain full independence throughout the duration of the assignment.

Submission Deadline

Interested candidates are requested to submit their technical and financial proposals in separate envelops to the head office of APAPER at Remera Sector, Rukiri I cell not later than 23 February 2026 at 16h00. Late submission will not be received. 

APAPER INVESTMENT COMPANY Plc