Quotation Estimate Auditor in Tanzania Dar es Salaam –Free Word Template Download with AI

Quotation Estimate No.: QTE-2025-TZ-0847

Date of Issue: 15 June 2025

Valid Until: 15 July 2025

Prepared For:

Mr. James Mwakalinga

Chief Financial Officer

Safari Logistics & Trading Ltd.

Plot 12, Block A, Sam Nujoma Street

Dar es Salaam, Tanzania

1. INTRODUCTION AND PURPOSE

This Quotation Estimate is formally issued by East African Audit & Assurance Limited (hereinafter referred to as "the Auditor") to Safari Logistics & Trading Ltd. for the provision of comprehensive statutory and internal audit services to be conducted in Tanzania Dar es Salaam. This document outlines the full scope of work, professional fees, timelines, and terms governing the engagement of our Auditor team. The Auditor is a registered firm with the Tanzania Institute of Chartered Accountants (TICPA) and holds a valid Public Accountants and Auditors Board (PAAB) licence number PAAB/2019/0042, authorising the Auditor to perform statutory audits, internal audits, and assurance engagements throughout the United Republic of Tanzania, with primary operations based in Tanzania Dar es Salaam.

2. SCOPE OF SERVICES

The Auditor shall perform the following services for the financial year ending 31 December 2025:

Statutory Audit: Full external audit of the annual financial statements in accordance with International Financial Reporting Standards (IFRS) as adopted in Tanzania and the requirements of the Companies Act, 2002 (Cap. 212 R.E. of Tanzania).
Internal Audit Review: Assessment of internal control systems, risk management frameworks, and operational efficiency across all departments located in the Tanzania Dar es Salaam headquarters and regional branches.
Tax Compliance Audit: Verification of compliance with Tanzania Revenue Authority (TRA) regulations, including Value Added Tax (VAT), Withholding Tax, Pay-As-You-Earn (PAYE), and Corporate Income Tax filings.
Forensic Audit (Optional Add-on): Investigation of suspected irregularities in procurement and inventory management, if requested by the Board of Directors.
Management Letter: A detailed report of findings, observations, and recommendations to be delivered to the Board of Directors within thirty (30) days of fieldwork completion.

3. DETAILED FEE SCHEDULE

No.	Description of Service	Duration	Fee (TZS)	Fee (USD Approx.)
1	Statutory Audit of Annual Financial Statements (including fieldwork, review, and issuance of Auditor's Report)	6 weeks	18,500,000	7,400
2	Internal Audit and Internal Control Assessment (Dar es Salaam HQ + 3 regional offices)	4 weeks	12,000,000	4,800
3	Tax Compliance Audit and TRA Filing Verification	2 weeks	6,500,000	2,600
4	Forensic Audit – Procurement and Inventory (Optional)	3 weeks	9,800,000	3,920
5	Management Letter and Board Presentation	1 week	2,200,000	880
6	Travel, Accommodation, and Logistics (within Dar es Salaam and regional offices)	As applicable	3,000,000	1,200
7	Professional Indemnity Insurance and PAAB Annual Levy	Annual	1,500,000	600
SUBTOTAL (Excluding VAT)			53,500,000	21,400
VAT @ 18% (Tanzania Revenue Authority)			9,630,000	3,852
TOTAL QUOTATION ESTIMATE (Incl. VAT)			63,130,000	25,252

All fees are quoted in Tanzanian Shillings (TZS). USD equivalents are provided for reference only at an indicative rate of 1 USD = 2,500 TZS. The Auditor reserves the right to adjust USD equivalents based on the Bank of Tanzania (BoT) reference rate on the date of invoice issuance.

4. TIMELINE AND DELIVERABLES

The Auditor commits to completing all fieldwork in Tanzania Dar es Salaam and regional offices within a total period of sixteen (16) weeks from the date of engagement letter execution. The final Auditor's Report and Management Letter shall be delivered no later than 31 March 2026, in compliance with the statutory filing deadline prescribed by the Tanzania Business Registration and Licensing Agency (TBRLA) and the Companies Act, 2002.

5. TERMS AND CONDITIONS

This Quotation Estimate is valid for thirty (30) days from the date of issue. Beyond this period, the Auditor reserves the right to revise fees due to changes in operational costs, exchange rates, or regulatory requirements in Tanzania.
Payment terms: 40% advance payment upon signing of the engagement letter; 40% upon completion of fieldwork; 20% upon delivery of the final Auditor's Report. All payments shall be made via bank transfer to the Auditor's designated account at NMB Bank, Dar es Salaam Branch.
The Auditor shall maintain strict confidentiality in accordance with the Tanzania Data Protection Act, 2022, and the professional code of ethics of the Tanzania Institute of Chartered Accountants (TICPA).
The Auditor shall be independent and free from any conflict of interest as defined under the International Ethics Standards Board for Accountants (IESBA) Code of Ethics, as adopted in Tanzania.
Any additional services beyond the scope outlined in this Quotation Estimate shall be subject to a separate written agreement and additional fees at the Auditor's standard hourly rate of TZS 250,000 per hour.
This engagement is governed by the laws of the United Republic of Tanzania. Any disputes shall be resolved through arbitration in Dar es Salaam in accordance with the Arbitration Act, Cap. 20 R.E. of Tanzania.
The Auditor is not responsible for the accuracy and completeness of information provided by the client. The Auditor's opinion is based on evidence obtained during the audit in accordance with International Standards on Auditing (ISA) as adopted in Tanzania.

6. ACCEPTANCE

By signing below, the client acknowledges and accepts the terms, conditions, and fees set forth in this Quotation Estimate. The Auditor shall commence work upon receipt of the signed engagement letter and the 40% advance payment.

For and on behalf of the Auditor:

East African Audit & Assurance Limited

_______________________________

Name: Mr. Peter N. Mushi, FCA (T)

Title: Managing Partner / Lead Auditor

Date: _______________

For and on behalf of the Client:

Safari Logistics & Trading Ltd.

_______________________________

Name: Mr. James Mwakalinga

Title: Chief Financial Officer

Date: _______________

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