Publication Date: 4th Feb 2025
SMCCI invites interested vendors to submit their interest in the provision of services:
1. Introduction
The Singapore Malay Chamber of Commerce and Industry (SMCCI) is inviting proposals from qualified audit firms to provide audit services for the financial years 2025 to 2027. This engagement aims to ensure compliance with regulatory requirements and maintain transparency and accountability in our financial reporting.
2. Scope of Services
The selected audit firm will be required to:
-Conduct an annual statutory audit of SMCCI’s financial statements in accordance with Singapore Financial -Reporting Standards (SFRS) and other relevant regulations.
-Provide an independent auditor’s report for submission to regulatory authorities and stakeholders.
-Review and evaluate SMCCI’s financial controls and compliance with governance policies.
-Advise on financial best practices, risk management, and internal control improvements.
-Attend meetings (e.g., Audit Committee and Annual General Meeting) to present audit findings and recommendations.
3. Eligibility Criteria
Interested audit firms must meet the following requirements:
-Be a registered public accounting firm in Singapore with a valid license from the Accounting and Corporate Regulatory Authority (ACRA).
-Have relevant experience auditing non-profit organizations, chambers of commerce, or similar entities.
-Demonstrate expertise in financial reporting and compliance within the Singapore business environment.
-Have a team of qualified professionals with a strong track record in providing audit services.
4. Submission Requirements
Interested firms must submit a proposal that includes:
-Company profile, including experience and credentials.
-A detailed breakdown of audit methodology and approach.
-Fee structure, including any additional costs.
-References from at least two similar organizations.
-Proposed timeline for completion of audits.
5. Evaluation Criteria
Proposals will be assessed based on the following:
-Experience and expertise in auditing similar organizations.
-Understanding of SMCCI’s operations and requirements.
-Cost-effectiveness and transparency in pricing.
-Proposed audit approach and methodology.
-Reputation and references from past clients.
6. Submission Deadline and Contact Details
All proposals must be submitted by [21 March 2025], 5:00 PM SGT.
Submissions should be emailed to [nadzirah@smcci.org.sg] with the subject line: “Proposal for Audit Services – SMCCI 2025/2027.”
For further inquiries, please contact Nadzirah at the email above.
SMCCI reserves the right to accept or reject any proposal and to request further clarifications where necessary. Late submissions will not be considered.
Issued by:
Singapore Malay Chamber of Commerce and Industry (SMCCI)
4 February 2025