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.
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 behavior 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/firm must strictly abide by the relevant policies of save the children as following
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 Guangzhou sub-office, as well as sub-grant to local partners in various locations, site for spot check will be determined from auditor.
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.
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/Guangzhou sub-office].
Draft audit report should be provided within 10 working days after on-site audit is performed.
Formal audit report should be issued before the required deadline, usually 10 working days after the draft audit report is approved by Save the children.
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 (e.g any experience in auditing EC projects)
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( The supplier's quotation with the above contents shall be regarded as valid quotation. If there is no fixed template, please refer to and fill in the quotation template of save the children as following
SC-PR-10 - Request for Quotation (v1.0).xlsx
1) Preparation of the call for quotation
A. The call for quotation shall meet the structure and requirements of the RFQ
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 31 Oct 2022.
Save the Children China
2-2-51/2-2-52 Jianwai Diplomatic Compound
Beijing 100600, China
9. For enquiries
Please contact 刘智 010- 6500 4408 ext.232 or sent by e-mail to: RFQ.China@savethechildren.org