Tender for Expenditure Verification of a Grand Contract

• Location: Phnom Penh
• Career Level:
• Employment Type:
• Application Deadline: Fri 29 January, 2021

Summary

Background

The European Chamber of Commerce in Cambodia (Cambodia) was created in 2011 by the existing French, German and British business associations to act as the official chamber of the European business community in the Kingdom. Since then, it has grown to over 350 members and 6 national chapters, comprising 11 European countries. EuroCham Cambodia has become the largest foreign business association within Cambodia. The core activities of the Chamber are to promote, support and represent its members and European business interests in dialogue with the Royal Government of Cambodia, with the aim of developing a more efficient and fertile business and investment environment. It has also a mandate to provide trade facilitation services aimed at increasing and enhancing European investment in Cambodia.

The Grant Contract ICI+ – 2014/345-039, was signed in August 2014 between the Head of the EUD and the Chairman of the EuroCham, both in Cambodia. The grant’s objective was to contribute to the implementation of the action entitled Support to the European Chamber of Commerce in Cambodia, which officially began on 1st September 2014, with a foreseen execution period of 77 months. The total eligible costs were estimated at €3.06M out of which the EU committed to finance a maximum amount of €2.45M (80% of total eligible costs) and EuroCham Cambodia committed to contribute the remaining €0.61M.

Scope of Work

EuroCham Cambodia is now looking for the independent Audit firm/agencies to provide an expenditure verification service of a grand contract for an external action concerning Support to European Chamber of Commerce in Cambodia (ICI+I 2014 I 345-039).

The objective of the service is to conduct the Final Expenditure Verification, Financial Report in connection with the Grant Contract for the period covering 1st Sep 2019 to 31st Aug 2020 and 1st Sep 2020 to 13th Feb 2021.

The Auditor will carry out the specific procedures listed in Annex 2A in the ToR and to submit to the EuroCham a report of factual findings with regard to the specific verification procedures performed. Verification means that the Auditor examines the factual information in the Financial Report of EuroCham and compares it with the terms and conditions of the Grant Contract.

The Auditor shall undertake this engagement in accordance with:

• the International Standard on Related Services (‘ISRS’) 4400 Engagements to perform Agreed-upon Procedures regarding Financial Information as promulgated by the IFAC;
• the IFAC Code of Ethics for Professional Accountants, developed and 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. Although ISRS 4400 provides that independence is not a requirement for agreed-upon procedures engagements, the Contracting Authority requires that the Auditor is independent from the Beneficiary(ies) and complies with the independence requirements of the IFAC Code of Ethics for Professional Accountants.

Deliverables:

The Auditor plans the work so that an effective expenditure verification can be performed.

The auditor will be appointed for auditing

• Year 6 of the project: from 1st Sep 2019 to 31st Aug 2020
• Year 7 of the project: from 1st Sep 2020 to 13th Feb 2021

The selected firm shall commit to meet the following timeline:

i) perform field works of the audit by:

• a. early or middle of February 2021 for the “year 6” (1st September 2019 to 31st August 2020);
• b. by late February 2021 for the “year 7” (1st September to 13th February 2021);

ii) deliver draft reports by:

• a. end of February 2021 for first audit (Y6),
• b. early or middle of March for second audit (Y7),

iii) deliver final report a week after receipt of management’s comment/approval.

The report on this expenditure verification should describe the purpose, the agreed-upon procedures and the factual findings of the engagement in sufficient detail to enable the Coordinator and the Contracting Authority to understand the nature and extent of the procedures performed by the Auditor and the factual findings reported by the Auditor.

Budget:

To be proposed by the applicant.

Please download the ToR here: https://bit.ly/2MYQBLe

• ‘Auditor’ refers to the audit firm contracted for performing this engagement and for submitting a report of factual findings to the Beneficiary. 'Auditor' can refer to the person or persons conducting the verification, usually the engagement partner or other members of the engagement team.
• The Auditor and/or the firm is a member of a national accounting or auditing body or institution which in turn is member of the International Federation of Accountants (IFAC). Although this organisation is not member of the IFAC, the Auditor commits him/herself to undertake this engagement in accordance with the IFAC standards and ethics set out in the ToR.
• The Auditor and/or the firm is registered as a statutory auditor in the public register of a public oversight body as set out in the legislation of Cambodia.
• The Auditor and/or the firm composition of the teams with expertise experience of auditing at least 7 years and above.

Important Note: By signing contract, the bidder confirms has a complete understanding of the requirement and fully intends to deliver service that comply with the requirement. For more detail, please download and go through ToR as attached.

How to apply: Tenders are suggested to submit their technical proposal to procurement selection committee using email below. The application shall be submitting no later than 29 January 2021. Only shortlisted tender will be contacted.

Supporting Documents to be submitted:

• CV of expert/consultants/agency supporting document
• Proposed technical work plan/activities
• Ongoing or completed similar previous assignments (in electronic copy)
• References with contact details

Application Submission:

Procurement Committee:

CONTACT DETAILS

Mr. Denis SAINTE-MARIE | Executive Director 

director@eurocham-cambodia.org with CC: finance.controller@eurocham-cambodia.org