TERMS OF REFERENCE
2025 Financial Audit of SEAOHUN Foundation
INTRODUCTION
Background
The Southeast Asia One Health University Network (SEAOHUN) is a regional network established in 2011 to strengthen One Health capacity and collaboration across Southeast Asia. SEAOHUN connects universities, government agencies, and international organizations to promote multisectoral and transdisciplinary approaches for preventing, detecting, and responding to infectious diseases and other health threats at the human–animal–environment interface.
SEAOHUN is officially registered as a foundation under Thai law, operating as the SEAOHUN Foundation, with its Secretariat based in Chiang Mai, Thailand. The Foundation serves as the coordinating body for the regional network, providing strategic, financial, and administrative support to its National One Health University Networks (OHUNs) across member countries. Through these partnerships, SEAOHUN fosters joint education, research, and workforce development initiatives aimed at strengthening the region’s capacity to address emerging and re-emerging health challenges.
SEAOHUN’s educational programs focus on enhancing cross-sectoral competencies and strengthening the One Health workforce through a wide range of activities. These include the development of core One Health competencies, technical skill-building, curriculum enhancement, and the adoption of innovative teaching methodologies such as problem-based learning. The network also promotes research capacity development, supports One Health student clubs, and offers scholarships and fellowships to sustain long-term capacity building.
To ensure transparency, accountability, and sound financial management of donor resources, the SEAOHUN Foundation conducts annual external audits. These independent audits are essential to verify that financial resources are managed and reported in accordance with applicable regulations, donor requirements, and generally accepted accounting principles. They also provide valuable recommendations to strengthen SEAOHUN’s financial systems and internal controls.
Accordingly, the SEAOHUN Foundation is seeking a qualified independent audit firm to conduct our annual financial audit in compliance with the Thai Financial Reporting Standard for Non-Publicly Accountable Entities, covering the period from January 1, 2025, to December 31, 2025. The firm must provide a team led by a Certified Public Accountant (CPA) registered with the Federation of Accounting Professions (TFAC) in Thailand, ensuring full compliance with all relevant Thai laws, including the Civil and Commercial Code and the Thai Auditing Standards (TSAs). To satisfy our international donors' requirements for global credibility and consistent reporting standards, preference will be given to internationally affiliated audit firms with demonstrated expertise in the non-profit sector and adherence to International Financial Reporting Standards (IFRS) or the applicable Thai equivalents (TFRS).
Audit Objective
The objective of the financial audit is to enable the auditor to express a professional opinion on the financial positionof the project at the end of the calendar year and of the funds received and expenditures for thecalendar year, as reported by the SEAOHUN and the subawardees/contractors and in particular to confirm that thereported expenditure has, in all material respects, been used in conformity with the provisions of Thai regulations,including any amendments in terms of agreements, and any applicable guidelines in force and applicable to the auditscope, and with due attention to economy and efficiency.
To also confirm that the financial statements agree with the project accounts (books of account), which provide thebasis for preparation of the financial statements and are established to reflect the financial transactions in respect ofthe projects, as maintained by the Foundation and the subawardees/contractors.
SCOPE OF WORK
It will include such tests and controls as the auditor considers necessary, including any visits to the office. Representative sampling may be used as the auditor considers necessary. This exercise is required to give full and satisfactory audit discharge to the project expenditure from January 1, 2025 to December 31, 2025. Specific focus will be:
1) The audit work shall cover the adequacy of the accounting and financial operations and reporting systems for both the statutory audit.
2) The statutory audit from January 1, 2025 to December 31, 2025 shall evaluate and determine internal control established for:
2.1) Procurement
The audit work shall cover the competitiveness, transparency and effectiveness of the procurementactivities of the projects in order to ensure that the equipment and services purchased meet therequirement of the donors and include the following:
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- As applicable, delegations of authorities, procurement thresholds, call for bids and proposals,evaluation of bids and proposals and approval/signature of contracts and purchase orders;
- Receiving and inspection procedures to determine the conformity of equipment with the agreed specifications and, when applicable, the use of independent experts to inspect the delivery ofhighly technical and expensive equipment;
- Evaluation of the procedures established to mitigate the risk of purchasing equipment thatdo not meet specifications or is later proven to be defective;
- Management and control over the variation orders. The audit work in the area of procurement shall also cover the use of consulting firms and the adequacy of procedures to obtain fully qualified and experienced personnel and assessment of their work before final payment is made.
2.2) Asset Management
The audit work shall cover equipment purchased for use of the projects. The procedures for receipt,storage, and disposal shall also be reviewed.
2.3) Cash Management
The audit work shall cover all cash funds held by the project and review procedures for safeguardingcash.
2.4) General Administration
The audit work shall cover travel activities, shipping services, office premises and lease management, office communications, and records maintenance.
3) Prior Audit Report Recommendation
The audit work shall include the review of the 2024 audit and determine if adequate corrective actions hasbeen completed.
4) Compliance with Agreement Terms and Applicable Laws and Regulations
The audit work shall comply with the Foundation compliance with terms and applicable laws and regulations.
DELIVERABLES
- An audit report providing opinion on the financial statement and the fund accountability statementsattached to the financial report and notes to financial statement for the period mentioned in Thai (two hardcopies and soft copy) and English (one hard copy and soft copy).
- A management letter in English which highlights observed weaknesses in the system of internal control, un-resolved audit recommendation from 2024 management letter, non- compliance with agreement terms andapplicable laws and regulation and recommends approaches to address the identified issues.
- A verification report in English on assets.
TIMING AND PAYMENT
The work is expected to commence no later than February 10, 2026. The audit firm is expected to submit a draft report by March 13, 2026 and the final report no later than March 25, 2026.
The payment terms are 40% on the day commencing the audit, 40% after delivering the draft reports and management letter, and the remaining 20% after delivering the final reports, management letter, and the verified report of assets.
SUBMISSION
An interested audit firm must submit technical and financial proposals, which include and will be evaluated based on the following criteria:
- Past performance. Please list up 3 recent projects including the summary, where your company provided theaudit services for the international donors or similar projects funded by aid agencies.
- Company profile and qualifications of the audit team members. Please provide the organization chartof the team members and where they fit with the organization chart of the company, and the CV of the lead auditor with his/her CPA Registration No.
- Proposed schedule and a lumpsum cost including travel with detailed breakdown.
Proposals must be submitted to secretariat audit@seaohun.org and copy to finance-team@seaohun.org by DECEMBER 15, 2025. Should there be any inquiries about the TOR, please email to finance-team@seaohun.org.
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