TERMS OF REFERENCE (TOR), Conversion of Financial Systems to IPSAS

at Meklit Children and Women Development Association (MEKLIT)
Location Addis Ababa, Ethiopia
Date Posted June 17, 2020
Category Accounting
Consultancy
Finance
Job Type Contract
Currency ETB

Description

MEKLIT is currently on the process of converting its financial systems and financial management procedures in to International Public Sector Accounting Standards (IPSAS). To this effect, MEKLIT is seeking to employ competent accounting firms to carry out IPSAS conversion.

Objective of Assignment 

The main objectives of the assignment are:

  • To support implementation of IPSAS in preparing the annual financial statements by providing required technical assistance, detail gap analysis building on the previous exercises and develop a road map for IPSAS implementation,
  • Draw practical recommendations to modify information system/software, policy, processes and procedures of the organization as required and provide capacity building supports for their implementation

Work with MEKLIT in preparing the annual financial statements of the Year ended 31 December 2019 based on the IPSAS.

Scope of the Assignment

  • Conduct gap analysis and develop roadmap for IPSAS implementation
  • Exercise a detail diagnosis and identify gaps for IPSAS adoption.
  • Analyze all relevant aspects – capacity, policies, procedures, regulatory, information system/ software etc. including review of existing chart of accounts and alignment with IPSAS adoption.
  • Develop comprehensive roadmap with specific actions, timeline incorporating all relevant aspects as above.
  • Develop manuals/ guidelines/ templates/ checklists as required to guide IPSAS implementation.
  • Assist MEKLIT in preparing IPSAS based annual financial statements for FY 2019 with required opening balances/ conversions.
  • Training and workshops
  • Develop training materials including training modules.
  • Train accountants and other relevant personnel for IPSAS adoption.

Job Requirements

Firm qualification:

The consulting firm should have the following qualifications and experience to carry out the assignment

  • Renewed Company/Firm/Business registration certificate
  • VAT registration
  • Tax clearance certification
  • At least of 3 Years in the field of financial accounting and Auditing in the public/ private sector
  • The consultant must have considerable experience in the field of international public/ private sector financial reporting standards (i.e. IPSAS/ IFRS) and at least 2 years of experience (during job or as independent) in the field of development /application of accounting.
  • Having experience with similar assignments (IPSAS conversion) shall have added advantage

Team members’ qualification:

Team Leader (One)

  • Chartered Accountant, CPA, ACCA or equivalent.
  • IPSAS professional qualification from the Chartered Institute of Public Finance and Accountancy (CIPFA) or similar recognized body will an added advantage.
  • At least of 10 years’ experience in the field of financial accounting and auditing of which at least 5 years in the public/private sector. Should have experience of at least one assignment as team leader/project manager in the last three years.

Expert (One)

  • Chartered Accountant, CPA, ACCA or equivalent.
  • IPSAS professional qualification from the Chartered Institute of Public Finance and Accountancy (CIPFA) or similar recognized body will be an added advantage.
  • At least of 5 years’ experience in the field of financial accounting and auditing of which at least 2 years in the public sector. Should have experience of at least one similar assignment in a key position.

The consulting firm may engage additional support staff in proportion to the work as assessed by them.

Applying Instructions

All Eligible and interested consulting firms should submit their Technical and Financial proposals in separate and sealed envelopes until June 26, 2019 at 5:00 PM local time.

Address: MEKLIT Liaison Office, Yeka Sub-city, Woreda 08, House No. 981 (in front of British Embassy), Tel.: +251118693539, Addis Ababa, Ethiopia

Additional information can be obtained by calling to +251-118-693539.

Disclaimer 

MEKLIT reserves the right to change this timetable at any time without notice and reserves the right to withdraw this bid process at any time, without prior notice and without liability to compensate and/or reimburse any party. 

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