Red Cross invites bids in effort at transparency
Source: Xinhua |
March 14, 2012, Wednesday
|
Print Edition
Print Edition
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 plans to select five qualified accounting firms to provide services such as annual auditing, special programs auditing and off-office auditing, according to the notice the RCSC published on the Chinese central government's procurement center website (www.ccgp.gov.cn) yesterday.
Bids will be taken for 20 days, and the selection process will comply with national rules regarding government procurement, the notice says.
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 contract with the firms, 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. This is the first time the charity has publicly invited tenders for auditing services.
Donors and the public have grown skeptical about the lack of transparency of charity foundations after a string of scandals last year involving embezzlement. The most infamous revolved around a young women named Guo Meimei, who claimed to work for an organization under the RCSC. She posted photos of her lavish lifestyle on her microblog last year, prompting speculation that the public's goodwill money was being tucked away in private pockets.
The Red Cross Society of China plans to select five qualified accounting firms to provide services such as annual auditing, special programs auditing and off-office auditing, according to the notice the RCSC published on the Chinese central government's procurement center website (www.ccgp.gov.cn) yesterday.
Bids will be taken for 20 days, and the selection process will comply with national rules regarding government procurement, the notice says.
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 contract with the firms, 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. This is the first time the charity has publicly invited tenders for auditing services.
Donors and the public have grown skeptical about the lack of transparency of charity foundations after a string of scandals last year involving embezzlement. The most infamous revolved around a young women named Guo Meimei, who claimed to work for an organization under the RCSC. She posted photos of her lavish lifestyle on her microblog last year, prompting speculation that the public's goodwill money was being tucked away in private pockets.
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