Үнэлгээний мэдээллийн сангийн журмыг боловсруулах, үнэлгээний мэдээллийн сан үүсгэх замаар Монголын Мэргэшсэн Үнэлгээчдийн Институтийг чадавхижуулахад Сангийн яаманд дэмжлэг үзүүлэн ажиллах дотоодын зөвлөх сонгон шалгаруулна
Урилгын дугаар: B21/CS/035
Захиалагч: Сангийн яам
Зарын төрөл: Зөвлөх үйлчилгээ
Зарласан огноо: 2022-09-06
Дуусах огноо: 2022-09-20 15:00:00  

Зарын урилга

A. BACKGROUND OF THE PROJECT AND THE ASSIGNMENT

Mongolia has been implementing the Strengthening Fiscal and Financial Stability (SFFS) Project with a credit financing from the International Development Association (IDA). The objective of the SFFS Project has been to contribute to the Government of Mongolia’s efforts to strengthen fiscal and financial stability and improve the quality of expenditure. The project has been designed into 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 relevant policy measures, improve fiscal discipline, strengthen the resiliency of the banking system, improve public expenditure quality in social protection, 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 . 

Subcomponent B2 of the SFFS project aims to increase budget comprehensiveness and transparency through better control, reporting and expansion of the government’s integrated financial management information capabilities. Under the subcomponent, the Accounting Policy Department (APD) and the Treasury Department of the Ministry of Finance (MOF) have been undertaking an agenda towards improving public sector accounting and reporting.

Good accounting and financial reporting practices, which meet international standards, can serve as the basis for good governance and the provision of high-quality financial information to users of financial statements (government, citizens, development partners, international investors, etc.). Mongolia has been working for the last 20 years with the support from international donor organizations to achieve compliance with the international accounting and auditing standards since the requirements were legalized in 1993. The most recent amendments to the Law on Accounting in 2015, as well as the approval of the Law on Integrated Budget in 2011, reinforced the requirement to comply with the international standards.

Even though efforts to improve accounting and reporting for public sector entities have been successful in certain areas, the following issues still remain: (i) the government’s accounting basis is not yet full accrual, (ii) IPSASs are not fully implemented, and (iii) the quality and importance of the Government’s consolidated financial statements are undermined because SOEs with less than 51% ownership, but are material to the financial statements, are not consolidated into the Government’s consolidated financial statements in accordance with the IPSASs.

One of the challenges that must be resolved for transitioning to full accrual based accounting and financial reporting in accordance with the IPSAS and IFRS is the development of the legal environment which enable assets to be measured and reported at fair and reasonable value in accordance with requirement of the IPSAS and IFRS. After the Law on Valuation was first approved in 2010, the new revision of the Law on Valuation was approved by the Parliament of Mongolia in 2022 which was an important event in accelerating the development of the sector. In connection with the latest approval of the amendment of the Law on Valuation, as a next step towards addressing legal environment-related challenges, APD plans to develop and update relevant regulations and methodologies on the valuation, its organization, and quality control matters for the further development of the valuation service and ensuring the implementation of the law.   

Particularly, the MOF recognizes the need to i) develop a draft regulation on creating and using valuation database and ensuring information security as there has not been any regulations with this regard in Mongolia; ii) develop a methodology to calculate coefficients of the factors to be used for valuation; and iii) build a capacity of the Professional Valuation Institute of Mongolia in creating valuation database for valuation service.

B. OBJECTIVE OF THE ASSIGNMENT

The objective of this assignment is to provide support to the MOF’s efforts in developing i) a draft regulation on creating and using databases for valuation and ensuring information security; ii) methodology to calculate coefficients of the factors to be used for valuation; and iii) capacity building for the Professional Valuation Institute of Mongolia in creating databases for valuation to ensure the implementation of the latest amendment of the Law on Valuation and compliance of the International Valuation Standards (IVS).

C. SCOPE OF THE WORK

The consultant will undertake tasks including, but not limited to, the following in close cooperation with the officials of the MOF and the other national consultants:

Task #1: Develop a draft regulation on creating and using database for valuation and ensuring information security to ensure the implementation of the provision 25.3 of the latest amendment of the Law on Valuation. 

  • Conduct a study on international best practice on creating and using databases for valuation and ensuring information security;
  • Review other existing regulatory documents on creating and using a valuation database and ensuring information security in Mongolia;
  • Based on the above-mentioned studies and their findings, develop a draft regulation on creating and using a database for valuation and ensuring information security;
  • Organize meetings and consultations with the MOF and other relevant stakeholders and present the draft regulation on creating and using a database for valuation and ensuring information security to receive their comments and suggestions for the improvement of the draft regulation; and
  • Based on the findings of the studies and consultations with stakeholders, revise and improve the draft regulation on creating and using valuation database and ensuring information security.

Task # 2: Develop methodology to calculate coefficients of the factors to be used for valuation and methodological recommendations on updating the coefficients of the factors for further improvements in accordance with the IVS.

  • Conduct a study on international best practice methodology on calculating the coefficients of the factors to be used for valuation in accordance with the IVS;
  • Based on the findings of the study above, develop a methodology adaptable in Mongolia to calculate coefficients of the factors to be used for valuation and methodological recommendations on updating the coefficients of the factors for further improvements;
  • Organize meetings and consultations with the MOF and other relevant stakeholders and present the methodology and recommendations developed above to receive their comments and suggestions for the improvement of the draft methodology; and
  • Based on the findings of the studies and consultations with stakeholders, revise and improve the methodology on calculating coefficients of the factors to be used for valuation and methodological recommendations on updating the coefficients of the factors for further improvements.

Task # 3: Support building capacity for the Professional Valuation Institute of Mongolia in creating a database for valuation service through i) developing a structure of the valuation database to be used in collecting data in an automated system; ii) designing a catalog template on assets’ reference prices to be used in recording assets with unknown value; and iii) formulating relevant methodological recommendations to ensure the implementation of the provision 25.1 of the latest amendment of the Law on Valuation and the IVS.   

  • Conduct a study on international best practices on i) the structure of the valuation database to be used in collecting data on an automated system and ii) the catalog template on assets’ reference prices to be used in recording assets with unknown value in accordance with the IVS;
  • Based on the findings of the above-mentioned studies, develop i) a draft structure of the valuation database to be used in collecting data on automated system and ii) a draft catalog template on assets’ reference prices which are to be adaptable in Mongolia; 
  • Develop methodologies on collecting data in accordance with i) the draft structure of the valuation database to be used in collecting data on the automated system and ii) the draft catalog template on assets’ reference prices which are developed above; 
  • Formulate methodological recommendations on updating i) the structure of the valuation database to be used in collecting data on automated system and ii) the catalog template on assets’ reference prices to be used in recording assets with unknown price for further improvements and extensions;    
  • Organize meetings and consultations with the MOF and other relevant stakeholders and present i) the draft structure of the valuation database; ii) the draft catalog template on assets’ reference prices; iii) methodologies on collecting data; and iv) the methodological recommendations to receive their comments and suggestions;
  • Based on the findings of the studies and consultations with stakeholders, revise and improve i) the draft structure of the valuation database; ii) the draft catalog template on assets’ reference prices; iii) the methodologies on collecting data; and iv) the methodological recommendations;
  • In accordance with methodology developed above on collecting data to create reference price list for the assets with unknown value, conduct a study on market price for the following asset categories: i) machinery and equipment; ii) constructions; and iii) vehicles including 100 types of assets at the minimum within these 3 categories; and
  • Based on the findings of the market price study, develop a catalog of reference price on the assets as an initial volume.           

D. DELIVERABLES 

Based on the contracted assignment and detailed contract implementation plan approved by the client, the consultant’s deliverables will be as follows:

Under task # 1:

  • A report on the study conducted on international best practice on creating and using a database(s) for valuation and ensuring information security;
  • A report with findings and recommendations for further improving the relevant regulation on creating and using database(s) for valuation and ensuring information security;
  • Revised and improved final draft regulation on creating and using a database(s) for valuation and ensuring information security in accordance with the international best practices, which have incorporated the comments/inputs from the MOF and other relevant stakeholders.

Under task # 2:

  • A report on the study conducted on international best practice methodology on calculating the coefficients of the factors to be used for valuation in accordance with the IVS;
  • A report with findings and recommendations for further improving the relevant methodology adaptable in Mongolia to calculate coefficients of the factors to be used for valuation;
  • Revised and improved final methodology on calculating coefficients of the factors to be used for valuation and methodological recommendations on updating the coefficients of the factors for further improvements in accordance with the international best practices and the IVS, which have incorporated the comments/inputs from the MOF and other relevant stakeholders.

Under task # 3:

A report on the study conducted on international best practices on i) the structure of the valuation database to be used in collecting data on an automated system and ii) the catalog template on assets’ reference prices to be used in recording assets with unknown value in accordance with the IVS;

  • A report with findings and recommendations for further improving the relevant documents concerning the followings:
  • A structure of the valuation database(s) to be used in collecting data on automated system;

                -  A catalog template on assets’ reference prices to be used in recording assets with unknown price;

                -  Methodologies on collecting data for the valuation database and the catalog of reference price of assets; and

              -  Methodological recommendations on updating i) the structure of valuation database to be used in collecting data on automated system and ii) the catalog template on assets’ reference prices to be used in recording assets with unknown price for further improvements and extensions.

  • Revised and improved final set of documents as listed below:

               -   A structure of the valuation database(s) to be used in collecting data on automated system;

               -   A catalog template on assets’ reference prices to be used in recording assets with unknown price;

               -   Methodologies on collecting data for the valuation database and the catalog of reference price of assets; and

            -  Methodological recommendations on updating i) the structure of valuation database to be used in collecting data on automated system and ii) the catalog template on assets’ reference prices to be used in recording assets with unknown price for further improvements and extensions.

  • A report on the study conducted on market price for the following asset categories: i) machinery and equipment; ii) constructions; and iii) vehicles including 100 types of assets at the minimum within these 3 categories in accordance with methodology on collecting data to create reference price list for the assets with unknown value; and
  • A catalog of reference price on the asset categories: i) machinery and equipment; ii) constructions; and iii) vehicles including 100 types of assets at the minimum within these 3 categories.

The Consultant will receive formal feedback and comments on each deliverable within 2 weeks after submission from the APD.

E. CONSULTANT’S QUALIFICATIONS/SELECTION CRITERIA

Education and Knowledge:

  • A suitable candidate must have a master’s degree in economics, finance, accounting and/or other relevant fields;
  • Proven knowledge of the IVSs will be required;
  • Proven knowledge of the features of the capital market and its legal environment will be required; and
  • Professional qualifications such as CFA/CPA/CIMA or similar will be an advantage.

Experience: 

  • Incumbent should have at least 5 years of direct relevant experience in the valuation service;
  • Previous experience in a similar capacity of developing metholdogy and guidance on valuation and database will be required; 
  • Research experience in valuation for 3 years at the minimum will be required;
  • Previous experience of providing consultancy services to government entities and international organizations will be an advantage.

Language skills: 

  • Excellent writing skills in both English and Mongolian are required.

Other skills: 

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

F.  SUPERVISION AND REPORTING 

The Consultant will report to the Director-General of the APD of MOF and will work on a daily basis with officials appointed by the APD and, as required, with officials from the MOF on technical matters relevant to the assignment.  

G. CONTRACT DURATION 

The consultant’s assignment is expected to commence in September 2022. The assignment’s expected input is 5 months on a full-time basis. 

H.   INSTITUTIONAL ARRANGEMENTS

The MOF will provide office space and equipment for the consultant as deemed necessary. The Consultant will have access to all the necessary data/information that the MOF could provide for this assignment. The Consultant will work in close cooperation and coordination of the APD, MOF. 

The Client will appoint officials to monitor the contract implementation. Appointed MOF officials will be responsible for the coordination of activities under the Contract, for reviewing and accepting Deliverables to be submitted by the Consultant.

If you possess the above qualifications, please submit the following documents via email to procurement_sgm@sffs.mn:

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; and,

4. Two (2) reference letters from the previous last two employers no later than 15:00 PM, September 20, 2022.

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

The submitted documents will not be returned to the applicants. Please be noted that incomplete applications would not be considered for evaluation. Only selected candidate will be contacted.Address for submission of Expression of Interest: Attention to Ms.Oyunyam.M, Procurement Specialist, Strengthening Fiscal and Financial Stability Project, Address: Room #205, Negdsen undestnii 8/2, 4th khoroo, Chingeltei District, Ulaanbaatar, Mongolia. Tel: 70120582 or via email to: procurement_sgm@sffs.mn

Холбоо барих

70120582

Хавсралт

СҮҮЛД ЗАРЛАСАН ЗАР
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Төрөл: Зөвлөх үйлчилгээ


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Захиалагч: Сангийн яам

Төрөл: Зөвлөх үйлчилгээ


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Захиалагч: Сангийн яам

Төрөл: Зөвлөх үйлчилгээ


B21/CS/035 Үнэлгээний мэдээллийн сангийн журмыг боловсруулах, үнэлгээний мэдээллийн сан үүсгэх замаар Монголын Мэргэшсэн Үнэлгээчдийн Институтийг чадавхижуулахад Сангийн яаманд дэмжлэг үзүүлэн ажиллах дотоодын зөвлөх сонгон шалгаруулна

Дуусах огноо: 2022-09-20 15:00:00   Зарласан огноо: 2022-09-06

Захиалагч: Сангийн яам

Төрөл: Зөвлөх үйлчилгээ


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