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Audit of Organization’s Annual Financial Statements

with Live & Learn Cambodia
This job has already passed the closing date
Invitation for Bids

BTDC-ID: 29100
Closing Date:

Bid Components

Audit of Organization’s Annual Financial Statements

Announcement Description

Registered at MoI in September 2005, Live & Learn Cambodia, or Live & Learn Cambodia, is a local NGO and non-profit making organization, which is part of an international network of NGOs, the Live & Learn Network covering nine countries across Asia and the Pacific. Live & Learn Cambodia has been working with various partners throughout the country with a broad range of stakeholders, including Government ministries, local authorities, development partners and local and international NGOs, and communities.

Live & Learn Cambodia’s current vision is “a sustainable and equitable Cambodia free from poverty” while (its mission) empowering Cambodians with innovative solutions to achieve sustainable livelihood and environment. Live & Learn builds the resilience of local communities by developing their human, social, environmental and financial capital through innovative solutions, multi-stakeholder platforms and partnerships, in the areas of livelihood, water sanitation and hygiene, and rural energy access.

Live & Learn Cambodia (LLC) has been implementing its projects focused on 3 main themes: Environment and NRM, Development and Livelihood and Water Sanitation and Nutrition.

Live & Learn Cambodia has obtained grants from donors to finance projects/programmes. Live & Learn Cambodia wishes to engage the service of an audit firm for the purpose of auditing the projects/programmes specified below and LLC general operation account, LLC-Other (reserve) and LLC Benefit account, as stipulated in the grant agreements, for the year end of 31 December.

Bid Components

Audit of Organization’s Annual Financial Statements

  • Career Category: Accounting - Taxation / Audit
  • Location: Phnom Penh

Organizational Budget 2024

Total budget (estimation): 650,000 USD

Total budget expense (estimation): 585,000 USD

Objectives and Scope of the audit

The objectives for the audit of the organization’s annual financial is to audit financial statements for the period from 01 January to 31 December as submitted to our donors and to express an audit opinion according to ISA 800/805 on whether the financial statements of the above listed projects/programmes submitted to donor, are in according with donors’ instruction for financial reporting as stipulate in the agreements including appendix between donors and Live & Learn Cambodia.

The Reporting

The scope of the audit shall be stated in the report and the methodology used shall be presented.

The reporting shall be signed by the responsible auditor (not just the audit firm) and title.

The expected deliverables are as follows:

  1. Audit financial statements for Live & Learn Cambodia in English and Khmer aligning with Cambodian Financial Report Standard for Not -For – Profit Entities (CFRS for NFPEs).
  2. Management letter highlighting observed weaknesses in the system of internal control and the recommendations to address the identified issues.

The report shall be written in English and Khmer and submitted to Live & Learn Cambodia not later than 20 February of the year.

Bidder Eligibility

  • Required Profile of the audit firm:
  • Bidding firms will be required to meet the following criteria:
  • Be a legal entity with business license and be recognized internationally.
  • Be registrated with Kampuchea Institute of certified public accountants and auditors and its partners must hold current practicing certificates
  • Proven experience in providing audit services with sound knowledge of multi donors rules and regulations
  • Qualified staff with relevant experience and skills in auditing
  • Have a system of quality control in the provision of audit and assurance services
  • Should demonstrate that it has the capacity, capability and experience required to undertake the audit with required timeline
  • In addition, the firm should demonstrate experience in auditing Local NGOs and INGOs.

Submission Requirements

Tender Submission

Firms meeting, he above criteria are requested to submit their proposal via email provided in the contact details as follows:

Technical Proposal

  • Confirmation of the firm’s understanding of the term of reference and its capacity and capability to deliver on the ToR. (haft or one page only)
  • The audit methodology/approach, workplan and timelines for undertaking and completing the assignment and deliverables (one or two page only)
  • Profile of the audit firm
  • Certificate of registration with accounting and auditing regulator (ACAR)
  • VAT registration certificate
  • The CVs of the key staff proposed to do the assignment.
  • Appropriate reference to demonstrate the experience specified in the ToR.

Financial Proposal indicating the proposal fees and other expenses include tax on service.

Deadline for Submission:

The technical and financial proposal should be submitted with the subject line clearly written as “Request for proposals: Audit Service” not later than 18 April 2024.

No hard copies will be accepted.

Questions should be addressed to the same email (not by phone) no later than 12 April 2024.

The audit exercise is required to start on 12-15 November 2024 for Interim audit field work and 15-17 January 2025 for final audit field work. The schedule of audit field work for the next fiscal year will be discussed later.

 
Attachment
 

Contact Details

Contact Name
  • Live & Learn Cambodia (LLC)
 
Email