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Scandal-ridden charity invites tenders for auditing service

(Xinhua)

16:34, March 13, 2012

BEIJING, March 13 (Xinhua) -- China's largest charity has begun to invite public bidding for its auditing services, a bid to boost transparency and restore its credibility that has been tainted by scandal.

The Red Cross Society of China (RCSC) plans to select five qualified accounting firms to provide services such as annual auditing, auditing on special programs and off-office auditing, according to the notice the RCSC published on the web portal of the Chinese central government's procurement center (www.ccgp.gov.cn) on Tuesday.

The RCSC will receive bids from across the nation for 20 days following the publication of the notice, and the selection process will comply with national regulations regarding government procurement, according to the notice.

The RCSC will publicly announce the five bid winners, which are required to be among the top 100 accounting firms included in the Chinese Institute of Certified Public Accountants.

The RCSC will sign a three-year service protocol with the five firms and assign auditing tasks according to their offer, professional strengths and service level, the notice said.

The move will promote the publicity of the donations to the RCSC and boost the transparency of the organization's financial management, an unidentified chief staff member with the RCSC said, adding that the charity will make more efforts to live up to the public's expectations.

This is the first time for the charity to publicly invite tenders offering auditing services.

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