Урилгын дугаар: | B21/CS/031 |
Захиалагч: | Сангийн яам |
Зарын төрөл: | Зөвлөх үйлчилгээ |
Зарласан огноо: | 2022.10.05 |
Дуусах огноо: | 2022.10.12 15:00:00 |
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.
To ensure the enforcement of the laws, the APD, with support of the SFFS project, has been taking actions towards transitioning to full accrual based accounting and financial reporting in accordance with the IPSASs. Particularly, within the scope of its functions under the provision 17.1 of the Law on Accounting, APD of MOF has been implementing activities aimed at strengthening the capacity of the professional accountants in the public sector focused on improving their knowledge and revising guidelines and regulations followed in public sector accounting in accordance with the most recent IPSASs.
In addition to the MOF’s function to approve and enforce accounting guidelines and regulations followed in enterprises and organizations as stated in the provision 17.1.3 of the Law on Accounting, the exemplary methodology of financial statement analysis of enterprises and organizations is approved by the Ministerial Order no. 343 of December 18, 2015, for the purpose of providing users of financial statements with unified indicators and methods for analyzing financial statements.
Even though it is important for users of financial statements to have unified indicators and methods of financial statement analysis based on financial statements prepared in accordance with the IPSASs for their decision-making purpose, the MOF recognizes the need improve the exemplary methodology of financial statement analysis of enterprises and organizations as the following issues exist: i) methods and indicators are not up-to-date; ii) lack of a suitable methodology in evaluating the indicators; and iii) limitation in terms of considering industry specifics and economic context.
B. OBJECTIVE OF THE ASSIGNMENT
The objective of this assignment is to provide support to the MOF’s efforts in improving the exemplary methodology of financial statement analysis previously approved by the Ministerial Order no. 343 of December 18, 2015, through i) incorporating the most up-to-date and commonly used methods and indicators; ii) adopting methodology in evaluating and comparing indicators; and iii) considering the industry specifics and economic factors in the calculation.
C. SCOPE OF THE WORK
The consultant will undertake tasks including, but not limited to, the following in close cooperation with the other national consultant and officials of the MOF:
Task #1: Develop exemplary methodology for financial statement analysis taking into account i) the most recent and commonly practiced methods and indicators; ii) methodology in evaluating and comparing indicators; and iii) industry specifics and economic factors in the calculation.
Task # 2: In accordance with the exemplary methodology for financial statement analysis of enterprises and organizations developed under Task # 1, revise the exemplary methodology documents for financial statement analysis of enterprises and organizations previously approved by the Ministerial Order no. 343 of December 18, 2015.
D. DELIVERABLES
Based on the contracted assignment and detailed contract implementation plan approved by the client, the consultant’s deliverables will be as follows:
1. Under task # 1:
2. Under task # 2:
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:
Experience:
Language skills:
Other skills:
F. INSTITUTIONAL ARRANGEMENTS
The MOF will provide an 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 with 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.
G. 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.
H. CONTRACT DURATION
The consultant’s assignment is expected to commence in October 2022. The assignment’s expected input is 3 months on a full-time basis.
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 previous last two employers no later than 15:00 PM, October 12, 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
70120582