KfW - selection of auditing firms in Bosnia and Herzegovina
International audit firms experienced in municipal infrastructure investments are invited to apply
Within a project for collection and treatment of waste water in Bihac (Bosnia and Herzegovina), the Kreditanstalt für Wiederaufbau (KfW, literally Bank for Reconstruction) intends to select an auditing firm to carry-out audit on funds used for the implementation of works.
The audit will comprise funds from various funding sources, including:
- funds from KfW,
- EU funds,
- funds from the Federation of Bosnia and Herzegovina,
- counterpart funds.
The objective of the audit of funds disbursed under simplified direct disbursement and the direct disbursement procedure is to permit the auditor to express an opinion on the concerned financial reports.
An international audit firm experienced in auditing public and in particular in municipal infrastructure investments will carry-out annual audits covering the years 2013-2016 including a final audit in 2017 (an audit for 2017 might be necessary in case the project will not be completed in 2016). The annual audits and the final audit will be in accordance with international auditing standards.
Kreditanstalt für Wiederaufbau
The KfW is a German government-owned development bank formed in 1948 after World War II as part of the Marshall Plan and based in Frankfurt. It is owned by the Federal Republic of Germany (80%) and the States of Germany (20%).
In 2009, the French Caisse des Dépots, the Italian Cassa Depositi e Prestiti, KfW and European Investment Bank (EIB) founded the Long-Term Investors Club, with the aim of bringing together major worldwide institutions to emphasis common identity as long-term investors, to encourage cooperation and to foster the right conditions for long-term investments in promoting growth.