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Audit of Annual Project Financial Statements

with Ministry of Economy and Finance

BTDC-ID: 39633
Closing Date:

Expected Outputs

Audit of Annual Project Financial Statements

Announcement Description

Audited Annual Project Financial Statements (APFS, referred to as the “Financial Statements”),including the auditor’s opinions and Management Letter as required in Legal Agreements for all projects funded under the Government financing, and loan(s)/grant(s) from the Development Partners (DPs), provide an independent and objective assurance whether the financial position and financial performance of the project are presented truly and fairly, in all material respects, in accordance with the accounting policies adopted by the projects and reflected in the Project Implementing Manual (PIM).

The Ministry of Economy and Finance (MEF), acting on behalf of the Royal Government of Cambodia (RGC), has entered into various Loan and Grant Financing Agreements with the Development Partners on the projects, which will be covered under the scope of the services. The RGC through the MEF is seeking the services of a qualified firm to conduct an annual audit for each financial year (from 01 January to 31 December) for Financial Year 2024 and 2025 of the Financial Statements of the RGC funded project namely as “The Project Management Unit to Prepare a Master Plan to Develop and Transform Preah Sihanouk Province into a Model Multi-Purpose Special Economic Zone (SMSP)” which is under the mandate of Prakas No. 442 MEF/BrK of Ministry of Economy on 23rd April 2020.

Expected Outputs

Audit of Annual Project Financial Statements

  • Career Category: Expression of Interest
  • Location: Phnom Penh
Summary

The Project Management Unit to Prepare a Master Plan to Develop and Transform Preah Sihanouk Province into a Model Multi-Purpose Special Economic Zone (SMSP)

Audit Objective

The audit of the project financial statements shall enable the auditor to express independent opinions on:

  1. Fair Presentation of the Financial Statements:1 whether the project financial statements present fairly, in all material respects, or give a true and fair view of the project’s financial position, its financial performance and cash flows in accordance with the accounting and reporting framework applicable for the project (as specified in the Notes to financial statements)
  2. Use of funds: whether the proceeds of the RGC funds of the project were used only for the purpose(s) of project.

Responsibilities of Management

  1. The Project Management shall prepare the projects’ financial statements before the commencement of the services of the Auditor.
  2. The Project’s financial statements should include the following:
  3. A statement of Source and Uses of Funds;
  4. Statement of Project Expenditures Accounts;
  5. Designated Account Reconciliation;
  6. Bank and cash reconciliation; and
  7. Any additional schedules, as necessary (e.g., bank book and cash book, advance register, and fixed asset list).
  8. Additionally, Project Management Unit will prepare and sign the following documents, which will be included in the audited financial statements:
  9. Statement of Compliance (Appendix 1).

Auditing Standards

The audit will be carried out in accordance with the Cambodian International Standards on Auditing (CISAs).1 These standards and this TOR require that the auditors comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether (i) the annual project financial statements are free from material misstatement and (ii) funds were used for the purpose intended.

Submission Requirements

Interested firms are invited to submit their application via email provided in the contact details.

Please click Attachement below for more information.

Attachment:
  • ToR Audit Firm
 

Contact Details

Office Address
  • The Secretariat Office of the Preah Sihanouk Province Master Plan, Business Development Center (BDC) - 10th Floor, OCIC Blvd, Sangkat Chroy Changvar, Khan Chroy Changvar, Phnom Penh, Cambodia
 
Contact Name
  • Mr. Sok Chamroeun
 
Email