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Request for Quotation: Save the Children Project Financial Audit

Request for Quotation:

 

Save the Children Project Financial Audit  

 

1.    Introduction and Background

 

Save the Children believes every child deserves a future. In China and around the world, we work every day to give children a healthy start in life, the opportunity to learn and protection from harm. When crisis strikes, and children are most vulnerable, we are always among the first to respond and the last to leave. We ensure children’s unique needs are met and their voices are heard. We deliver lasting results for millions of children, including those hardest to reach.

 

We do whatever it takes for children – every day and in times of crisis – transforming their lives and the future we share.

 

Save the Children has been working in China since the 1980s. More than 1 million children and their families have directly benefited from our work in 12 regions with projects related to children’s education, health, protection, youth development, disaster risk reduction and child rights governance. In 2017 alone, our work in China directly helped more than 572,763 adults and children, with a total expenditure of $11 million US dollars (RMB 70 million).

 

In January 2017, Law of the People’s Republic of China on Administration of Activities of Overseas Non-governmental Organisations in the mainland of China officially came into effect. Save the Children became one of the first international NGOs to be officially registered by the Beijing Municipal Public Security Bureau, with Ministry of Civil Affairs continuing to be our supervisory governmental department.

 

For more information, please visit our official website: http://www.savethechildren.org.cn/

 

SC China is inviting the qualified auditor certified by the International Federation of Accountants, IFAC to perform the financial audit and to report in connection with the project.

 

2.    Objectives

 

The objectives of this audit are to enable the Auditor to express an opinion on whether:

 

the Financial Report presents fairly, in all material respects, the actual expenditure incurred and the revenue received for the Project for the audited period in conformity with the applicable Contractual Conditions; the Project funds provided by SC have, in all material respects, been used in conformity with the applicable Contractual Conditions.

3.    Standards and Guidance

 

The Auditor who performs this financial audit is governed by:

-       The IFAC International Framework for Assurance Engagements and International Standards on Auditing ('ISAs') for Audits of Historical Financial Information insofar as these can be applied in the specific context of a contractual compliance audit;

-       The IFAC Code of Ethics for Professional Accountants (issued by IFAC's International Ethics Standards Board for Accountants (IESBA), which establishes fundamental ethical principles for Auditors with regard to integrity, objectivity, independence, professional competence and due care, confidentiality, professional behaviour and technical standards;

-       The IFAC International Standards on Quality Control (ISQCs), which establish standards and provide guidance on an Auditor's system of quality control.

 

4.    Requirements for the auditor

 

Qualifications and Experience

The Auditor will employ staff with appropriate professional qualifications and suitable experience with IFAC standards, in particular International Standards on Auditing and with experience in auditing financial information of entities comparable in size and complexity to the Entity.

 

The subject of the audit is the expenditure as stated in the Financial Report of the Project for the audited period.

 

The Auditor will inform the SCI as soon as possible about any limitations in the scope of work he/she may find prior to or during the audit.

 

The Auditor will consult SCI on what action may be required, whether or how the audit can be continued and whether changes in the audit scope or the timetable are necessary.


The Auditor should be familiar with and ensure that the following policies are followed before sending the quotation,

附件1:采购条款.doc

附件2:救助儿童会的儿童保护政策.doc

附件3:救助儿童会的反舞弊和腐败政策.doc

附件4:IAPG代理商和供应商行为准则.doc


 

5.    Audit Procedures

The Auditor should perform the audit in accordance with the financial audit procedures and which cover audit documentation and evidence, planning, fieldwork and reporting.

The Auditor should exercise due professional care and judgment and determine the nature, timing and extent of audit procedures to fit the objectives, scope and context of the audit. 

5.1  Audit Documentation and Evidence

The Auditor should in accordance with ISAs, prepare audit documentation and obtain sufficient appropriate audit evidence to support audit findings and to draw reasonable conclusions on which to base the audit opinion. The Auditor uses professional judgment to determine whether audit evidence is sufficient and appropriate

The Auditor should perform to obtain audit evidence in case of doubt or uncertainty with regard to the eligibility of expenditure.

5.2  Planning and Fieldwork

The Auditor’s procedures should include:

Obtaining an understanding of the engagement context.

The Auditor should obtain a sufficient understanding of the engagement context including the Project, the SCI and regulations which apply to the Project and the Contractual Conditions for the Project. The Auditor should pay specific attention to the Contractual Conditions for:

    • Documentation,       filing and record keeping for Project expenditure and income;

    • Eligibility       of Project expenditure;

    • Procurement       and origin rules insofar these conditions are relevant to determine the       eligibility of Project expenditure;

    • Asset       management (management and control of Project fixed assets; e.g.       equipment).

    • Cash       and bank management (treasury);

    • Payroll       and time management;

    • Accounting       (including the use of exchange rates) and financial reporting of Project       expenditure and income;

    • Internal       controls notably financial internal controls.

The understanding should be sufficient to identify and assess the risks of material errors or misstatements in the expenditure and revenue stated in the Financial Report, whether caused by error or fraud, and sufficient to design and perform further audit procedures.

 

The field audit is preliminarily planned to be conducted in agreed time, related financial documents are kept in SC office of Beijing, and/or Kunming, Shanghai, Chengdu and Xinjiang sub-office, as well as sub-grant to local partners in various locations, site for spot check will be determined from auditor.

 

5.3  Reporting

Language

The report should be presented in English.

 

Audit Findings and Recommendations

The Auditor should explicitly state and specify results (satisfactory and unsatisfactory) of specific procedures for obtaining audit evidence in case of doubt or uncertainty with regard to the eligibility of expenditure in the financial findings sections of the draft and final report

 

The audit report should include all financial findings made by the Auditor regardless of the amount involved.

 

Debriefing meeting

The SCI foresees a meeting with the Auditor after receipt of the draft audit report. This meeting will be held at [Save the children Beijing Office, Kunming/Shanghai/Chengdu/Xinjiang sub-office].

 

Deadline

Formal audit report (by English) should be issued before the required deadline.

 

6.    Call for Quotation Requirements

 

Each bidder is required to submit a quotation in English covering the following areas:

1)    A brief description of the firm

2)    A work plan for the assignment including, but not limited to:

A.     An outline of recent experience in similar assignments

B.     The list of the proposed staff team by specialty and task assignments

C.    A description of the methodology and work plan for performing the assignment

D.    The firm’s competencies to perform its responsibilities for the assignment, etc.

3)    Quotation including summary of costs and breakdown into details

4)    Expected timeline of the assignment including key milestones

5)    Any additional information

 

7.    Process

 

1)    Preparation of the call for quotation

A.     The call for quotation shall meet the structure and requirements of the CFQ

B.     Accompanying documents or additional material to the proposal shall be sealed in envelopes with the Company Chop

2)    Legal rights and ownership

A.     SC China reserves the right to assess and review the quotation and award the contract to a bidder of its choice and any bidder who meets the bidding requirements does not guarantee a contract award.

B.     SC China reserves the right to revise scope or requirements caused by reasons outside the awarded bidder’s reasonable control.

C.    Any proposals received by SC China after the closing date for submission of proposals will be rejected.

 

8.    Date for submission

 

The RFQ must be submitted to SC China by post or personal delivery in 2 hard copies (1 original and 1 copy) together with electronic version no later than 5:00 p.m. on 26th Sep 2020.

 

Postal information:

Save the   Children China
 
2-2-51/2-2-52 Jianwai   Diplomatic Compound

Chaoyang District

Beijing 100600, China

Contact:  Zhao WANG or Zhi LIU (T) 010- 6500 4408 ext.   528/232

 

9.    For enquiries

 

Please contact Zhao WANG (T) 010- 6500 4408 ext. 528 or sent by e-mail to:

zhao.wang@savethechildren.org

RFQ.China@savethechildren.org

 

10.  Appendix

 

 

 

 

 

 

 

 

 

 

 

Appendix 1: Project for financial audit:

 

Project

Location

Project funding

Project period

Deadline

CHN Coronavirus Response 2020_Community Chest of Korea(CCK)

Shang Hai / Guang Zhou

KRW 392,313,100.-

Apr 1, 2020 – Dec 31, 2020

Jan/Feb 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Appendix 2:

 

ILLUSTRATION OF INDEPENDENT AUDITOR’S REPORT                                       

------------------------------------------------

 

INDEPENDENT AUDITOR’S REPORT

To [Appropriate Addressee]

 

We have audited the financial report for the project [PROJECT NAME (PROJECT NO)] for the period DD MONTH 20YY- DD MONTH 20YY, indicating total costs of [CURRENCY] [AMOUNT]. The financial report has been prepared by Project Management according to the agreement with [PROJECT NAME (PROJECT NO)] dated DD MONTH 20YY and shall be adapted to current project.

 

Project Management’s responsibility for the financial report

Project Management is responsible for the preparation of a financial report according to the above mentioned agreement and for such internal control as Project Management determines is necessary to prepare a financial report which is free from material misstatement, whether due to fraud or error.

 

Auditor’s responsibility

Our responsibility is to express an opinion on the financial report based on our audit. We have conducted our audit in accordance with International Standards on Auditing (with the application of ISA800/805) and in our view the applicable parts of the agreement between [ORG] and [DONOR]. This standard requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial report is free from material misstatement.

 

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement in the financial report, whether due to fraud or error. In making this risk assessment, the auditor considers internal control relevant to the organisation’s preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the organisation’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Project Management, as well as evaluating the overall presentation of the financial report.

 

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

 

Opinion

In our opinion, the financial report is, in all material respects, consistent with the organisation’s accounts, and has, in all material respects, been prepared in accordance with the agreement between [ORG] and [DONOR].

 

Basis of Accounting and Restriction on Distribution

Without modifying our opinion, we would like to draw attention to the fact that the financial report has been prepared according to the agreement between [ORG] and [DONOR]. The financial report is prepared to assist [ORG] to meet the requirements of [DONOR]. As a result, the financial report may not be suitable for any other purpose. Our report is intended solely for [ORG] and [DONOR] and should not be distributed to parties other than [ORG] and [DONOR].

 

Other matters

We have also submitted a Report of Factual findings.

 

Place, DD MONTH 20YY

[Date of the auditor’s report]

[Auditor’s signature]

[First name Last name]

[Title of auditor]

[Address]

Appendix 3:

 

TEMPLATE ACCORDING TO ISRS 4400


For engagement to perform agreed-upon procedures regarding financial information

---------------------

 

Report of factual findings

 

To the management of [ORG]

 

We have performed the agreed-upon procedures as specified below concerning the enclosed financial

report to [DONOR] concerning project number [XXX], for the time period DD

MM YYYY to DD MM YYYY showing total expenditure of [currency] [amount]. Our engagement was performed in accordance with the International Standard on Related Services applicable to agreed-upon procedures engagements, ISRS 4400. The procedures were performed solely to assist you in your commitment towards [DONOR] regarding the provision of a report on how funds from [DONOR] have been used and are summarized as follows:

 

1.     We have examined if the project has been carried out according to the agreement.

2.     We have examined if an audit according to the audit instructions from [DONOR] has been performed in all cases where funds have been transferred to another implementing party.

3.     We have examined if the funds have been transferred through a bank account to any other implementing party.

4.     We have examined if the organisation has signed agreements with other organisations to which it, in accordance with the agreement, channels funds. It is the responsibility of the organisation to ensure that correct instructions regarding audit requirements are communicated to such partners.

5.     We have examined if the organisation has procurement regulations which have been followed.

6.     We have examined if the organisation has an internal control system in place that is sufficient for the carrying out and reporting of the project, in accordance with the agreement.

7.     We have examined if the organisation has sufficient internal control systems in place relating to fraud and corruption.

 

Outcome and significant observations

 

We report our findings below:

 

1.      

2.      

3.      

4.      

5.      

6.      

7.      

 

[NB. In cases where observations have been made or if there are uncertainties regarding any of the items, a detailed description of the observation or uncertainty shall be provided.]

 

Our report is solely for the purpose set forth in the first paragraph of this report and for your information and is not to be used for any other purpose or to be distributed to any other parties than [DONOR]. This report relates only to the financial report specified above.

 

 

[Date and place]

[First name Last name]

[Title of auditor]

[Address]