Financial Audit

• The audit shall be made separately by IP and by stream: (A) technical upgrade and (B) physical upgrade (construction and renovation).
• The audit covers the period stated in this ToR and any related advances, settlements or later payments needed to determine the correct balance.
• Audit objectives: The purpose of the audit is to determine whether implementing partners (IPs) used HCC funds for approved purposes and complied with the Grant Agreements, HCC requirements and guidelines, internal policies, and applicable law.
• The audit shall: Reconcile funds Verify VAT compliance Check the requested budget line for unspent costs Review report submission Verify co-funding Review construction bidding: Check construction contingency fund Verify late-completion fines Check stakeholder allowance: Inspect construction materials and quality Verify assets: Assess payroll and time allocation, procurement, approvals, conflicts of interest, separation of duties, and record retention against IP policies, HCC requirements, and applicable law.
• Assess other compliance requirements.

Audit criteria include signed Grant Agreements and amendments, approved budgets and plans, HCC approvals and relevant guidelines, applicable IP policies, contractual agreement, approved architectural plans and material specifications, and Cambodian law.