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External Audit Services

4th September 2018


Subject: External Audit Services

Mhasibu Sacco Society Ltd was registered on 16 April 1986. It is a medium sized Sacco with over 19,000 members.
The mission of the Sacco is to encourage and mobilise savings from members and thus economically empower

the members by availing low cost funds to augment their financial needs.

The Sacco wishes to appoint independent auditors to provide external audit services for the period 2018.

The main responsibility of the external auditors is to perform statutory audits of the Sacco in accordance with

International Standards of auditing, the Co-operative Act 2004 and the Sacco Act 2008.

Requirements for the External Audit Services
    1. Proof that the firm is approved by the Co-operative Department of Ministry of Industrialisation and Enterprise Development.

    2. The firm should be approved by ICPAK.

    3. The firm must have at least two partners.

    4. The partners should be in good standing with ICPAK.

    5. The firm should have been in practice for a period of not less than 5 years.

    6. The partners must be full time practitioners.

    7. The firm must have a physical address and valid business permit.

    8. The firm must have five years’ experience in audit of Sacco(s) with at least 12,000 members.

    9. The firm must demonstrate sufficient quality control measures.

    10. The firm must have at least three Sacco referees who must be its clients.

    11. A detailed company profile showing the list of clients.

    12. Partners and key staff curriculum vitae.

Interested audit firms that meet the above requirements are asked to submit financial proposals and the supporting 
documents for review. The proposal must be submitted to Sacco offices at Barclays Plaza 8th floor along Loita Street by
Friday, 21st September 2018 before 5.00 p.m.
The proposal should be addressed to:
Mhasibu Sacco Society Ltd
P.O Box 31295 00600,