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Request for Audit Proposal Financial Statements for the fiscal year Ended 31 December 2023

with Association Federation Of Farmer Community Promoting Family Agriculture Enterprise In Cambodia

BTDC-ID: 27941

Closing Date:

Announcement Description

FAEC cited itself as an umbrella & membership association and national farmer organization in Cambodia for the benefits to any farmer organizations that have voluntarily registered as the members of. FAEC was registered officially with the Ministry of Interior (MOI) aligned with the existing Law of Association and Non-Governmental Organization (LANGO).

To be reached this desired vision, FAEC created the missions which stated to support and encourage its members with their equal rights and good governance for improvement and promotion of their smallholder members’ food security, safety, prosperity and for living with good environment. Up to now, FAEC has 65 Cooperatives and Farmer Association with 12,812 individual members, including 6,965 women and 2,345 young farmers, registered as the members of FAEC which is covered in 10 provinces of Cambodia.

For the implementation of its activities, FAEC has several partnerships – national and international. Those partnerships include technical and financial support. Indeed, since its creation in 2009 FAEC has built a strategic partnership with partners, including Afdi (through the Agri-Cord funds). The relation between Afdi and FAEC are formalized by contract and according to the latter, FAEC has committed to proceeding to an audit for the 2023 accounts.

It is within this framework that this proposal has been submitted, for auditing the global accounts of the FAEC from the 1st of January 2023 – 31st of December 2023.

Expected Outputs

Request for Audit Proposal Financial Statements for the fiscal year Ended 31 December 2023

  • Category: Call for Proposals
  • Location: Phnom Penh
Summary

Scope and Objectives and Timeframe of the audit

Scope of the audit

The external audit must allow the auditor to express his professional and independent opinion of FAEC financial statement. The audit will cover 1 years (2023) and monitor funds and expenditures for the stated period.

  • The audit should be carried out in accordance with generally accepted auditing standards (ISA). In auditing the financial statements, the auditor will assess whether the applicable requirements have been met. The auditor must establish the completeness and accuracy of all receipts and expenditures and that they derive logically from and are in line with the terms of the donor contract and incurred for the purpose intended in the donor contract.
  • With regard to FAEC’s processes and records, the auditor must establish that FAEC has an effective administrative organisation with a system of internal control measures providing reasonable assurance of compliance with legislation and proper accounting and reporting.

Objectives of the audit

  • The objective of global FAEC’s financial statements is to determine whether the statements are presented in conformity with acceptable accounting standards, such as International Financial Reporting Standards (IFRS) or French accounting standards.
  • Each audit covers a specific period, usually the project fiscal year (or the whole project period). A financial statements audit assesses whether reported disbursements were made in accordance with the relevant donor contract financing agreements. The audit ascertains whether individual expenditures, are properly authorized, eligible under the financing provisions, appropriated accounted for and fully supported by documentation.
  • The auditor is expected to examine the FAEC’s system of accounting and other internal controls as part of an audit of financial statements in order to express an opinion on the reliability of the financial statement produced by FAEC.

Eligibility

Submission Requirements

Documents for submission

Interested audit firms are required to submit the following:

  • Letter of interest that expresses of audit firm’s interest to conduct the audit
  • A detailed audit proposal (technical and financial) supported with the CVs of auditors who will be assigned for this audit
  • Copies of Certificate of Registration
  • Copy of V.A.T Registration Certificate
  • List of ongoing and previous Contracts/Projects (similar assignments) Bank references and bank details

For Contact Information:

FAEC reserves the right to reject any and all proposals submitted.

Only shortlisted audit firms will be contacted. Please note that this advert contains full Term of Reference, hence no further tender documents are available.

Attachment:
 

Contact Details

Office Address
  •  #69H, Street101, Sangkat Boeng Trabaek, Khan Chamkar Mon, Phnom Penh, Cambodia
 
Contact Name
  •  Association Federation Of Farmer Community Promoting Family Agriculture Enterprise In Cambodia
 
Phone
 
Email
 
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