Tender Description:

REC Caucasus announces a tender for audit services and invites qualified audit firms to submit proposals for its Annual Financial Statements and Project Audits as detailed in the attached TOR.

Scope of the Audit:

• The audit of RECC’s financial statements shall be carried out in accordance with the International Auditing Standards (IAS) and shall include tests and verification procedures as the auditors deem necessary.
• The audit of grant projects shall be carried out with the International Auditing Standards. The audit of statements of expenditures, which are prepared on cash basis, shall be performed under the grant agreement requirements.

Audit Timeline:

The tentative schedule for the audit process is outlined below:

● Annual Financial Statements Audit: The audit is expected to commence on 1 August 2026, with an approximate

duration of 1 month.

● Project Audits: The audit for the grant projects is scheduled to start on 1 February 2027 and is expected to be

finalized by 31 March 2027.

Qualification of the Audit Firm:

The audit firms operating in Georgia, who have monitoring results of I and II category according to the Service

for Accounting, Reporting and Auditing Supervision, shall be eligible to apply.

Audit Fees:

The audit fees will be determined through a competitive bidding process.

Deadline:

The deadline for receiving offers is 3 July, 2026.

Interested parties please send us a confirmation of your willingness to participate as well as your questions to the email address listed below (to provide more details about grant projects and annual results).

sophiko.akhobadze@rec-caucasus.org

david.mironidze@rec-caucasus.org

zviad.khukhunashvili@rec-caucasus.org

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