Off-school Advanced Learning Programmes for Gifted Students Audited Accounts

This document provides guidance for the Grantee on the submission of audited accounts upon completion of the off-school advanced learning programmes (the programmes) funded by the Gifted Education (GE) Fund.

(A) Audit Requirements

1. Pursuant to the service agreement made between the Permanent Secretary for Education Incorporated (“Grantor”) and the Grantee in respect of each approved programme funded by the GE Fund with grant exceeding $100,000, the Grantee is required to submit audited accounts (containing the Income and Expenditure Statement [the sample at Appendix 1 refers], Balance Sheet [the sample at Appendix 2 refers] and Notes, and an auditor’s report on them) with unaudited supplementary information appended to the programme accounts and a report of factual findings in connection with the internal controls of the Grantee issued by an auditor in respect of each programme within three months upon completion of the programme or immediately in case of early termination of the programme.

2. The Grantee shall appoint an independent auditor possessing the necessary expertise and knowledge to perform the audit work. The auditor’s report on the programme accounts shall be duly signed by the appointed auditor. The audit of the programme accounts shall be conducted in accordance with the Hong Kong Standards on Auditing (HKSAs) issued by the Hong Kong Institute of Certified Public Accountants (HKICPA). In selecting an auditor, the Grantee shall conduct a competitive process according to a pre-established set of selection criteria.

(B) Guide on Appointment of an Auditor Selection of an Auditor

3. When selecting an auditor, the Grantee may take account of the following:

(a) audit fee;

(b) number of partners and professional staff of the auditor;

(c) the auditor’s relevant experience such as engagement in grant;

(d) audit methodology and approach to be adopted by the auditor;

(e) clientele of the auditor;

(f) feedback on the auditor’s performance from other clients; and

(g) independence (i.e. the auditor is required to be independent of the Grantee in

order to express an audit opinion without bias, conflict of interest or undue influence).

Solicitation Document for Inviting Prospective Auditors to Submit Bids

4. The Grantee shall prepare a clear solicitation document for inviting prospective auditors to submit bids1. The solicitation document shall include the following essential information:

(a) the name, address, history and current operation, and the accounting system, internal controls and administrative procedures of the Grantee;

(b) the programme to be audited;

(c) the scope of audit service and the expected audit products to be provided;

(d) the name and telephone number of a contact person of the programme;

(e) the expected format of the bids to be prepared by bidders;

(f) the address that the bids should be delivered or sent to;

(g) the closing date and time for the submission of bids;

(h) the evaluation criteria to be used;

(i) the expected schedule of audit work; and (j) the method and timing of payment.

5. With reference to the selection criteria which it adopted, the Grantee shall request relevant information from the prospective auditors in the solicitation document.

6. The ways listed below may be used when preparing the list of prospective auditors:

(a) seeking information from the Grantee’s finance section which may provide such list;

(b) consulting other institutes/ organisations; and

(c) browsing the website of the HKICPA for the list of firms (

The Engagement

7. The Grantee and the auditor should agree on the terms of engagement in writing for (a) the audit of the programme accounts; and (b) the conduct of agreed-upon procedures2. The engagement letters should include the objective and scope of the audit and the agreed-upon procedures, the respective responsibilities of the Grantee

1 The organisation of the programme provider may have other well-established mechanisms to procure services. However, the general principle is that procurement of services need to be carried out in an open, fair and competitive basis.

2 According to the HKICPA’s standard on “Engagements to Perform Agreed-Upon Procedures Regarding Financial Information”, the objective of an agreed-upon procedures engagement is for the auditor to carry out procedures of an audit nature to which the auditor and the entity (the Grantee) and any appropriate third parties (the GE Fund Secretariat) have


and the auditor, the right of access to records, documentation and other information requested in connection with the audit, the form of any reports or other communication of results of the engagements and the audit fee. The Grantee shall ensure that the engagement letter contains the requirement that his auditor would (i) send a copy of the auditor’s management letter, if any, to the GE Fund Secretariat concurrently when the letter is sent to him; and (ii) make an immediate written report to the GE Fund Secretariat on any fraud/ irregularity or suspected fraud/ irregularity on the part of the Grantee that comes to the auditor’s notice/ knowledge. It is a normal practice for an auditor to use its own template for a letter of engagement and to request its client to sign the letter showing agreement with the terms before commencing the service. As a signed engagement letter represents a binding contract, the Grantee shall carefully read through the engagement letter to ensure there is no misunderstanding and no outstanding issue which requires clarification before signing it.

In case of any inconsistency or ambiguity between the English version and the Chinese version of this document, the English version shall prevail.


Gifted Education Fund Secretariat July 2021

[Name of the Grantee] Appendix 1 Gifted Education Fund

Off-school Advanced Learning Programmes for Gifted Students

Income and Expenditure Statement

For the period from _________________ to _________________

(dd/mm/yyyy) (dd/mm/yyyy)

Programme No. : Programme title :

Final budget Actual Variance with

final budget

(unaudited) (unaudited)

i ii iii = ii-i



- GE Fund Grant $0.00 $0.00 $0.00

- Interest earned $0.00 $0.00 $0.00

Total income : $0.00 $0.00 $0.00

Less : Expenditure

- Staff cost $0.00 $0.00 $0.00

- Services $0.00 $0.00 $0.00

- Equipment $0.00 $0.00 $0.00

- General expenses $0.00 $0.00 $0.00

- Contingency $0.00 $0.00 $0.00

- Others

[specified according to budget] $0.00 $0.00 $0.00

Total expenditure : $0.00 $0.00 $0.00

Excess of income over expenditure $0.00 $0.00 $0.00

Notes are an integral part of the programme accounts.


[Name of the Grantee] Appendix 2 Gifted Education Fund

Off-school Advanced Learning Programmes for Gifted Students

Balance Sheet As at _________________

(dd/mm/yyyy) Programme No. :

Programme title :


Current assets

Accounts receivables $0.00

Other current assets $0.00

Cash and cash

equivalents $0.00

$0.00 Current liabilities

Accounts payables $0.00

Amount due to Grantor $0.00

Other current liabilities $0.00


Net assets $0.00

Fund balance $0.00

Notes are an integral part of the programme accounts.

Signature of Authorised Person Name of Authorised Person



Annex J to Schedule III Gifted Education Fund

Off-school Advanced Learning Programmes for Gifted Students Final Report

Programme number :

Title of programme:

Name of organisation:

For the period from# to

(dd/mm/yyyy) (dd/mm/yyyy)


Please read the Guidelines to Completion of Final Report on the reverse side before completing the report.

Please use separate A4-size sheets to give a full account of tasks completed within above programme period with elaboration of the following:

(a) a summary of lessons, learning and teaching activities, projects/ researches, events, mentoring, support measures, etc. arranged for student participants within the programme period;

(b) the learning outcomes of the student participants against the set objectives stipulated in the programme proposal/ detailed implementation plan;

(c) major strengths/ merits observed in learning and teaching, and their impacts on the gifted students having completed this programme;

(d) the effectiveness of the quality assurance mechanism; and

(e) suggestions of further development of the programme and ideas of extension programmes for gifted students having completed this programme.

# The period shall follow the report submission schedule stated in the service agreement.

(Note: This report should be endorsed and signed by the Head of the organisation or the one who signed the service agreement for acquisition of funding on behalf of the organisation.)

This annex can be downloaded from the webpage of the GE Fund and the ACGE (

Name of programme leader:

Official chop of organisation Signature:


Name of Head of organisation:




Gifted Education Fund

Off-school Advanced Learning Programmes for Gifted Students Guidelines to Completion of Final Report

Please review the effectiveness of the programme on nurturing the gifted students that have participated in the programme and propose measures/ ideas to improve/ further develop the programme in future. The following guidelines serve to provide some hints to what may be included in the report.

The programme provider is welcome to add other information, whichever appropriate, to this report for reference/ consideration of the GE Fund Secretariat.

1. Overall programme review

A section to provide information on:

- the dates, time, venues, instructors/ mentors, number of lessons, topics/ learning and teaching activities of all lessons organised for the student participants between the date of the last submission of progress report and the end of the programme;

- attendance figures of each session in the above-mentioned period;

- a full list of resource materials (e.g. hardware, software, handouts, worksheets, etc.) developed/

acquired for use by the student participants within the whole programme period with comments on their design and effectiveness;

- major tasks (e.g. research projects, participation in international events, etc.) completed by the student participants within the programme period with comments on students’ performance in these tasks;

(The information above may be presented in a table form if necessary.)

- measures adopted to assess student learning (formative and summative assessments inclusive) and their effectiveness;

- alternation of any kind (e.g. variation of budget, change of schedule, etc.) against what was laid down in the proposal/ detailed implementation plan with reasons;

- major strategies adopted to cater for learner diversity, to enhance value education and to foster the affective development of the student participants;

- special learning and teaching strategies applied during the programme implementation;

- detailed evaluation of the students’ learning outcomes against the set objectives of the programme with examples; and

- exemplars that serve as good models for developing the potential of gifted students in their areas of talent.

2. Quality assurance A section to report:

- the actions taken to assure the quality of the programme with information of quality assurance meetings held within the programme period;

- a summary of major observations including quantitative figures and qualitative information related to quality assurance collected within the programme period with evaluation;

- major views and responses about the programme from the students, schools, parents, training personnel, external reviewers, etc.; and

- suggestions on further improving/ developing the quality assurance mechanism and the programme arrangement.

3. Other related actions/ issues A section to report:

- the effectiveness of resource utilization, inclusive of human resources, reference materials, equipment, community resources, etc. which may be either free or funded by the GE Fund, in implementation of the programme;

- contingency measures and their effectiveness;

- administrative issues, e.g. processing applications, arrangement of tests/ interviews for applicants, communications with students/ parents/ schools, etc. and suggestions for improvement in future;

- salient experiences in gifted education gained from organisation of the programme; and - dissemination activities such as publicity of the programme, interviews by the media, paper

presentation, experience sharing sessions, etc., if any, arranged during the programme period.

4. Conclusion

A paragraph to make a general conclusion about the overall effectiveness of the programme and its impact on the gifted students with recommendations on further development.


In document The Grantee shall ensure that the expenditure incurred is within the ambit and the scope of the approved budget (Page 35-43)

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