Press Release

A team from the USAID Office of Inspector General (OIG) visited Mongolia March 16-22, 2008 to interview Mongolian accounting and auditing firms (including international firms represented in Mongolia) to establish an approved list of firms to perform Millennium Challenge Account (MCA) contracted audits.  Pre-qualified local firms will become eligible to participate in the MCA’s audit tender which will be announced on the following website: gdMarket, UNDB and MCA-Mongolia (when established).  A winning bidder will be asked to carry out two semi-annual audits for periods ending June 30 and December 31 on all MCC projects that expend U. S. $300,000 or more in Millennium Challenge Corporation (MCC) awards in its fiscal years.  Results of the audits will be reported to MCC in compliance with Guidelines for Financial Audits Contracted by the Millennium Challenge Corporation’s Accountable Entities.

During meetings with several Mongolian accounting/auditing firms, the OIG team provided fraud awareness and audit briefings.  They also held meetings with MCA procurement and fiscal agents, representatives of the Mongolian government and U.S. Embassy staff to provide updates on their work in Mongolia as well as progress on implementation of the MCC Compact.

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