REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – INDIVIDUAL CONSULTANT SELECTION)

Country: MONGOLIA                                                                                                   

Project name: STRENGTHENING FISCAL AND FINANCIAL STABILITY PROJECT

Credit No. 6084-MN; 6085-MN

Assignment title: International Consultant for providing support on implementing the International Public Sector Accounting Standards

A.  BACKGROUND

Mongolia has received a credit from the International Development Association (IDA) for the Strengthening Fiscal and Financial Stability Project (SFFSP). The Objective of the SFFSP is to contribute to the Government of Mongolia’s efforts to strengthen fiscal and financial stability and improve the quality of expenditure management. The project is designed with five components: (i) Strengthening Macroeconomic and Fiscal Management; (ii) Improving the Efficiency of Public Financial Management; (iii) Enhancing Financial Sector Stability; (iv) Strengthening the Social Protection System; (v) Project Management and Monitoring. The objectives are to strengthen fiscal responsibility and implement the relevant policy measures; improve fiscal discipline; strengthen the resiliency of the banking system; improve public expenditure quality in social protection; and provide support for Project implementation, coordination, monitoring and evaluation, including, inter alia, audit arrangements, reporting requirements, procurement and financial management activities, respectively. For more details, please refer to the Project Appraisal Document Report No. PAD2269[1].

The Ministry of Finance developed and adopted regulations concerning accounting and financial reporting for budget entities and all these are on the basis of modified accrual. In accordance with the revised guidelines of 2003, since 2004 the Government has been preparing annual consolidated financial statements, getting the statements audited by the Mongolian National Audit Office and submitting the audited financial statements to the Parliament. While the first Consolidated Financial Statements of the Government of 2004 covered approximately 3000 budget entities, the 2015 Consolidated Financial Statements included some 6000 budget entities and 81 state-owned enterprises with 100% Government ownership. The state-owned enterprises prepare their financial statements on the accrual basis and their chart of accounts is different from the budget entities’.

Even though the improvement of accounting of public sector entities with corporate governance is successful in certain areas, (i) Government accounting basis is not full accrual, (ii) International Public Sector Accounting Standards (IPSAS) are not implemented fully, and (iii) the  quality and importance of the Government’s consolidated financial statements are undermined because state-owned enterprises with less than 90% ownership but are material to the financial statements are not consolidated into the Government’s consolidated financial statements.

B.  OBJECTIVE OF THE ASSIGNMENT

The objective of this assignment is to assist the Accounting Policy Department (APD) and the Treasury Department (TD) of the Ministry of Finance on implementing the International Public Sector Accounting Standards. The main objective of this assignment is to provide the policy recommendation on accounting methodology for public sector consolidated financial reporting and consolidated business entities into the government consolidated financial statements in compliance with IPSAS.

C.  SCOPE OF WORK

The consultant will work closely with appropriate government officials and national consultants.

Key responsibilities of the International Consultant will include providing consultancy service to the APD and TD, MOF staff on following matters, but not limited to:

D.  DELIVERABLES

Within 3 working days from commencement of the assignment, the International Consultant shall provide a written work plan for the assignment as provided format.

The International Consultant shall submit the following DELIVERABLES to the MOF: 

1. The desk review report;
2. A discussion paper examining existing issues associated with accounting and reporting by Government of Mongolia on a consolidated basis in compliance with IPSAS.
3. The roadmap with specific milestones and schedule and dates for the implementation of IPSAS compliant consolidated financial reporting of the government; and
4. A workshop to facilitate discussion with the stakeholders on the draft documents above.

All deliverables will be submitted to the PIU of SFFSP at the World Bank and the APD of the MOF.

The Consultant will receive formal feedback and comments on each deliverable within 5 working days after submission.

E.   CONSULTANT’S QUALIFICATIONS

To be considered eligible candidates should have all the eligibility criteria listed below:

Education: A suitable candidate should have an internationally recognised professional accounting qualification and a  post-graduate degree in a relevant field;

Experience: A candidate should have at least 15 years of experience with 10 years of specific experience in implementing IPSAS in government consolidated financial reporting.

Language: Professional English in writing and speaking.

Other Skills: Excellent interpersonal skills with the ability to function effectively and collaboratively in a team environment and high integrity and accountability; proficiency in PC-based applications such as Microsoft Word, Excel and data management, and have excellent web research and navigation skills.

An ability to work with different sections of the government administration to identify their financial management system needs and expectations and to relate these to developing recommendations for an efficient and comprehensive system.

F.   CONTRACT DURATION

The Consultant’s assignment is expected to commence in October 2019 and the total duration of the assignment is a month. The expected input required for this assignment is 20 working days. 

The commencement date will be determined by work plan, its progress, completion of the tasks and evolving business needs. If any task is completed and approved by client within the agreed-upon timeline, the consultant should complete the tasks without any additional cost.

Interested consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services.

1. Cover letter indicating why she/he considers her/himself suitable for the position,

2. Detailed CV highlighting relevant skills/experience,

3. Copy of diplomas or certificates.

The consultant will be selected in accordance with the World Bank’s Procurement Regulations for IPF Borrowers (July 2016).

Expressions of interest must be delivered in a written form to the address below or by e-mail no later than 17:00 on October 10, 2019 (local time, Ulaanbaatar, Mongolia).

Further information can be obtained at the address below during office hours: 8:30 to 17:30 hours (local Ulaanbaatar time) or procurement@sffs.mn.

Attn; Ms.Bayarmaa L, Procurement specialist,  

Project Implementation Unit

The World Bank – Strengthening fiscal and financial stability project,

Room #205, Negdsen undestnii 8/2, 4th khoroo, Chingeltei District, Ulaanbaatar, Mongolia

Tel: +976-70120582

70120582