REQUEST FOR EXPRESSION OF INTEREST.
Mongolia 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 .
Subcomponent B2 of the project aims to increase budget comprehensiveness and transparency through better control, reporting and expansion of the government’s integrated financial management information capabilities.
The Integrated Budget Law establishes the principles, systems, composition and classification of the budget, defines the roles and responsibilities of bodies that participate in the budget process, and regulates relations that arise in connection with budget preparation, budget approval, execution, accounting, reporting and auditing. The law requires the government to prepare a set of consolidated financial statements, and budget entities to maintain accounts on a full accrual basis in accordance with international and national accounting standards. Complementing the IBL, the Accounting Law, enacted in 2015, requires the government to adopt the International Public Sector Accounting Standards (IPSAS).
Accordingly, since 2006, the Ministry of Finance (MOF) has been preparing the government’s consolidated financial statements, including a full balance sheet based on selective application of accruals, getting the statements audited by the Mongolian National Audit Office and submitting the audited financial statements to the Parliament. The consolidation is a multi-step process involving four layers of hierarchy within the government. In the absence of reliable and relevant information, only partial elimination of intra-governmental flows and stocks is achieved, albeit through a cumbersome process.
The MOF has selectively applied IPSAS and periodically issued guidance to budget entities on the application of the standards, but compliance has remained uneven. Transaction-level accounting at the budget entities continues to be on the cash basis while accrual adjustments are applied as part of the year-end process. Capacity constraints, particularly at the lower level of government and the lack of detailed guidance have been the main challenges.


SCOPE OF THE ASSIGNMENT
The consultant will perform tasks including, but not limited to, the following:
I.Conduct a gap analysis to identify differences between the IPSAS-recommended practice and the policies/guidelines adopted by the MOF, and between those accounting/reporting guidance and the actual practice on the ground:
a.Review existing accounting regulations and guidelines in comparison with the IPSAS to assess compliance;
b.Conduct a survey on the existing accounting policies, IT systems, skills and practices.  This survey should be representative of the entire public sector including central government ministries, extra-budgetary funds and agencies, as well as local governments;
c.Assess each level of budget governors’ current degree of compliance with the requirements of accrual accounting on the basis of the IPSAS;
d.Review the action plan for implementing the IPSAS approved by the Finance Minister in 2017 and develop a detailed work plan draft based on the review;
II.Provide professional support in improving government accounting policy and guidance at treasury;
a.Review the existing accounting practice for tax revenues;
b.Review the existing accounting practices of all levels of treasury through E-Treasury and other IT systems;
c.Review the consolidation practice of financial statements through the E-Tailan system and provide technical support on elimination for preparing consolidated financial statements; 
d.Conduct a comparative research on international best practices of pension liabilities -- valuation rules, and recognition and disclosure principles of the different elements in compliance with the IPSAS, that could be applicable to Mongolia;
e.Review the current templates for disclosure notes to potentially update them in compliance with the IPSAS;
f.Provide support to the central treasury at MOF to adopt multi-year chart of accounts;
g.Develop a draft accounting policy paper for all levels of treasury units in compliance with the IPSAS;
h.Prepare training materials (video and printed) covering the treasury accounting policy paper for all levels of treasury units; and
i.Conduct training for treasury staff at all levels.

III.Provide support in the approval process of the draft accounting policy document through carrying out the following activities in collaboration with the TD, MOF:
a.Establish a working group comprising relevant stakeholders;
b.Organize discussions and consultations on the draft documents amongst specialists in the field and relevant stakeholders;
c.Assist in promoting the accounting policy document and the government accounting manual to the extent permitted under the assignment;
d.Provide support on technical issues as well as on translation/interpretation when needed to the international consultant; and 
e.Respond to the related ad hoc consultations made by TD, MOF and perform any other tasks as reasonably assigned by MOF.


SHORTLISTING CRITERIA/CONSULTANT’S QUALIFICATIONS:
Education and Knowledge:
A suitable candidate must have a master’s degree in accounting or a master’s business administration with a bachelor’s degree in accounting;
Professional qualifications such as ACCA/CPA/CIMA or similar will be required;
Proven knowledge of the International Public Sector Accounting Standards (IPSAS) and the International Financial Reporting Standards (IFRS) and;
Excellent technical skills as a lecturer and a researcher would be an advantage;

Experience:
Incumbent should have at least 6 years of relevant professional experience in the accounting and finance;
Previous experience in a similar capacity of developing an accounting policy document and other policy and guidance documents will be considered a plus;
Language skills:
Fluent written and spoken in English and Mongolian.
Other skills:
Excellent interpersonal skills with the ability to function effectively and collaboratively in a team environment and high integrity and accountability;
Be proficient in PC-based applications such as Word, Excel and data management, and have excellent web research and navigation skills;

CONTRACT DURATION:
The consultant’s assignment is expected to commence in October 2018. The duration of the assignment is 10 months on a full-time basis. The consultant will be selected in accordance with the World Bank’s Procurement Regulations for IPF Borrowers (July 2016).

If you possess the above qualifications, please submit following documents:
    Cover letter indicating why she/he considers her/himself suitable for the position,
    Detailed CV highlighting relevant skills/experience,
    Copy of diplomas or certificates and,
    2 reference letters from previous last two employers no later than 17:00, October 24, 2018.

The submitted documents will not be returned to the applicants. Please be noted that incomplete applications would not be considered for evaluation. Only selected candidates will be contacted. Candidates can be interviewed. Detailed terms of reference can be requested from procurement@sffs.mn Contact address: Attn: Ms.Bayarmaa, Procurement Specialist, Strengthening Fiscal and Financial Stability Project
Room #204, Negdsen undestnii 8/2, 4th khoroo, Chingeltei District, Ulaanbaatar, Mongolia; Tel: 70120582

70120582