Aide et Action is now seeking all interested audit firms to conduct expenditure verification audits of the agreed-upon procedures of the two engagements of interconnected projects. The selected audit firm will verify that the expenditures claimed against the Grant covered by the agreements and contracts were incurred, accurately recorded and eligible under the terms of the agreement.
The interested firms must obtain a copy of detailed Terms of Reference by requesting through email: firstname.lastname@example.org. All interested bidders are invited to join the virtual information Sharing Session on 13 September 2021 at 2pm to understand more information, process and other requirements. Please send your email to confirm your participation to the above email address by 9 September 2021 so that we can send you the link to the session.
As outlined in the detailed Terms of Reference, the audit firms are requested to submit the proposal addressing the following information:
- Detail your firm’s experience in providing auditing and tax services to organizations in the NGO industry, as well as associations of comparable size to AEA.
- Detail your firm’s experience in providing Expenditure Verification Audits in relating to Grant Funding for NGO type organisations.
- Provide information on whether you provide services to any related industry associations or groups.
- Discuss the firm’s independence with respect to AEA and the Implementing Partners.
- Discuss commitments you will make to staff continuity for the period of the three reviews (interim and final), including your staff turnover experienced in the last three years.
- Identify the five largest not-for-profit clients your firm (or office) has lost in the past three years and the reasons. Also discuss, in instances when loss of the client was due to an unresolved auditing or accounting matter, the process of attempting to resolve the issue(s).
- Identify the partner, manager, and in-charge accountant who will be assigned to our job if you are successful in your bid, and provide resumes. Indicate any complaints against them that have been levelled by the state board of accountancy or other regulatory authority, if any. Indicate any corrective actions that have been taken by the firm with respect to these people.
- Describe how your firm will approach the audit of the organization, including the use of any association or affiliate member firm personnel and the areas that will receive primary emphasis. Also, discuss the firm’s use of technology in the audit. And finally, discuss the communication process used by the firm to discuss issues with the management and audit committees of the board.
- Set forth your fee proposal for the two engagement audits, with whatever guarantees can be given regarding increases in future years. Your fee proposal should also delineate hours by the level of staff.
- Describe how you will bill for questions on technical matters that may arise throughout the period.
- Furnish current standard and discounted billing rates for classes of professional personnel.
- Provide the names and contact information for other similarly sized clients of the partner and manager that will be assigned to our organization for reference purposes.
- Describe how and why your firm is different from other firms being considered, and why our selection of your firm as the External Auditor for the independent verification is the best decision we could make.
- Include a copy of your firm’s most recent peer review report, the related letter of comments, and the firm’s response to the letter of comments.
All proposals must be submitted to AEA before 11 October 2021 at 5:00 pm, Attention Chakriya TEP, Regional Finance Director, through email: email@example.com and copy to bidding committee members as below:
Mr. Samphors Vorn, Country Director, firstname.lastname@example.org
Mrs. Sokhom CHOEUN, Deputy Director of Finance, email@example.com
Or direct to address below:
NAME: Aide et Action, Cambodia
ADDRESS: 6th Floor, #322, Street 182, Sangkat Tek La-ork, Khan Toulkork, Phnom Penh – CAMBODIA
PHONE: +855 12 497 245