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Major Chinese charity group to invite Int'l auditing
( 2002-04-17 11:59 ) (8 )

The China Youth Development Foundation (CYDF), one of the major charity groups in China, plans to invite an independent international audit institution to audit its charity programs from this year, the foundation announced Tuesday.

A spokesman for the foundation said the just-concluded meeting of CYDF's Second Executive Council had decided to invite the National Audit Office to audit the account books of its famous Project Hope program.

Project Hope has received about two billion yuan in donations from at home and abroad since it was launched in 1989, and the project's beneficiaries include 2.49 million children in poverty- stricken areas.

They were out of school due to financial difficulties, but have continued their primary education thanks to the funding support from the foundation.

Project Hope also funded the construction of 8,890 primary schools across the country.

The meeting decided to improve the transparency of the project 's financial operation to ensure donors and the public have the right to know that their donated money reaches the right hands.

It also made a decision to draw an appropriate amount of money from the donations to fund the operation of the foundation in accordance with international practice.