Terms of Reference for Provision of Training on International Public Sector Accounting Reporting Standard
MEDA’s Overview
Mennonite Economic Development Associates (MEDA) is an international non-governmental organization incorporated in Canada and registered in Ethiopia. MEDA is currently implementing the EMERTA project which stands for Ethiopians Motivating Enterprises to Rise in Trade and Agri-business and means ‘to leap to great heights in Amharic by focusing specifically on women. The project is committed to increasing sustainable employment and income generation for women and men in Amhara region of Ethiopia in rice, vegetables and gemstones sectors.
Objective of The Training/Consultancy
The training/consultancy is expected to conduct a gap analysis on both the system and staff, update existing financial policies and procedure based on the gaps, provide proposal remedies on the system, build staff capacity and assist MEDA to comply with IPSAS.
Summary of Work
Ø Provision of training on IPSAS standard to MEDA key staff.
Ø Support the implementation process of IPSAS for the first-time financial statement preparation accordance with IPSAS
Scope of Work
1. Conduct a gap analysis on the overall current state/practice and procedures of MEDA- Ethiopia; evaluate the impact of accrual based IPSAS on the current state and recommend actions to be taken.
2. Update the existing Financial policies and procedures based on identified gaps and agreed areas.
3. Assess staff capacity and provide capacity building training based on the result of need assessment.
4. Assist MEDA with IPSAS- complaint financial statements until submission of first audited IPSAS- compliant financial statement for the year ending December 31, 2019.
Expected Result
1) Gaps identified after evaluating the existing system and the new standard, IPSAS
2) The existing Financial policies and procedures updated based on gaps identified in consultation with MEDA
3) MEDA staff trained and able to do financial statements based on IPSAS guidelines
4) The first financial statement prepared based on IPSAS for the year ended December 31, 2019
Education/Training
· The trainer/consultant must have BA degree in Accounting, ACCA/CPA, with experience in financial management.
· The trainer/consultant must have ACCA/CPA and work experience in the NGO environment for a minimum of two years.
Core Technical Competencies
Ø The trainer/Consultant must have a Company’s Business registration certificate with AABE and other applicable government registering office
Ø The trainer/Consultant must have considerable experience in international financial reporting standards (IFRS) and IPSAS for a minimum of two years
Ø Consulting experience in the application of IPSAS in non-governmental organizations
Ø Renewed professional license of the company
Ø VAT registration certificate
Ø Renewed trade license
Ø Professional certificate of key personnel
Evaluation Criteria
MEDA will use the following to evaluate every proposal submitted.
· Technical proposal - 70%
· Financial proposal - 30%
Note