Provision of Audit Services

1.0 Background

Liverpool FC intends to source for a competent and eligible audit firm to provide external audit services for the year 2025.

 2.0 Objectives of the Assignment

The objective of this assignment is to engage an audit firm to provide external audit services for the Liverpool’s financial statements for the year 2025.

Specifically, the assignment shall address the following objectives:

1. To provide an independent and objective opinion on the financial statements and the Benevolent Fund of the Institute.
2. To verify the accuracy and fairness of the financial statements.
3. To ensure compliance with accounting standards and other applicable regulations.
4. To enhance transparency and build trust and confidence among stakeholders.
5. To identify any potential misstatements and errors in the financial statements.
6. To increase the Institute’s accountability for its financial reporting practices, thereby encouraging greater accuracy and transparency.

 3.0 Scope of the Assignment

The scope of the assignment shall include, but not be limited to, the following:

1. Timely planning, management, and execution of the annual external audit.
2. Timely review and reporting on the effectiveness of internal controls and systems.
3. Providing a comprehensive assessment of the adequacy and effectiveness of the accounting system and the overall internal control system used to monitor expenditures and other financial transactions of the Institute.
4. Timely presentation of the audit plan, and any modifications thereto, to Management and the Audit, Risk and Compliance Committee.
5. Timely reporting of audit findings to Management and the Audit, Risk and Compliance Committee for both interim and final audits, covering all aspects of the audit, including information systems reviews.
6. In reporting and/or communicating to the Audit, Risk and Compliance Committee, liaising with the Internal Audit & Risk Directorate to ensure the Committees are well informed on matters requiring their attention.
7. Attendance at Audit, Risk and Compliance Committee meetings and Board meetings, as appropriate.
8. Providing advice to Management and the Audit, Risk and Compliance Committee on technical accounting and financial matters.