Institute For Sustainable Development

Reporter Sep20,2020

INSTITUTE FOR SUSTAINABLE DEVELOPNMENT TERM OF REFERENCE 

TRANSITION TO INTERNATIONAL PUBLIC ACCOUNTING STANDARDS IPSAS

1. Institute for Sustainable Development (ISD) 

Institute for Sustainable Development is an Ethiopian Resident’s Civil Society Organization legally registered by the Ethiopian Charities and Societies Agency, working in different regions of Ethiopia for sustainable ecological and social development by working with people and organizations at the grassroots level. Designing and implementing sustainable development strategies to address the social and economic problems of different target groups including farmers, youth and women are among the organizational objectives of our institute. The objectives under different projects components have been implemented in Tigray, Amhara, Oromia, and Sothern Nations, Nationalities and Peoples Regional State that have brought tremendous change in the livelihood and attitude of the target beneficiaries. 

✓ The Government of Ethiopia, however, fully adopted IPSAS as issued by International Public Accounting Standard Board (IPSASB) and requires public interest entities that operating in Ethiopia to nationally transit to IPSAS. One of the public interest entities that are subjected to the adoption are Charities and Societies. As one of the civil society entities operating in Ethiopia, ISD was communicated same by Accounting and Auditing Board of Ethiopia (AABE) to register and in preparing the annual financial statements of the Year ended 31 December 2019 based on IPSAS. The overall objective of the technical support is for the consulting firm to make ISD ready for the adoption of/transition to IPSAS and produce IPSAS compliant financial report. A specific objective of the assignment includes: 

i. To support implementation of IPSAS in preparing the annual financial statements of ISD by providing required technical assistance, detail gap analysis building on the previous exercises, develop Road map for IPSAS implementation, 

ii. Providing required capacity building and recommending modifications in policy, processes and other required changes as deemed necessary. 

iii. Provide technical support with IPSAS complaint financial statements until its submission of first IPSAS compliant financial statement by December 31st, 2019. 

3. Scope of Services and Expected Deliverables 

The following are expected technical assistances from the consulting firm with its corresponding deliverables. 

2. Objective of the Assignment 

Technical Service

Specific Activities 

Deliverable 

Time Frame 

1. Conduct gap impact analysis 

Analyze all relevant aspects – capacity, policies, 

procedures, regulatory, information system/ etc. 

including review of existing chart of accounts and 

alignment with IPSAS requirements; and recommend 

necessary enhancements/ modifications for IPSAS 

adoption 

 

Gap Analysis Report 

(Including checklists as required to guide 

IPSAS implementation produced) 

– Design chart of accounts in complains in 

and 

IPSAS 

Recommendation on the policies and 

procedures of the organization 

 

Analyzes pre-requisites for IPSAS adoption and 

recommends measures to be taken for preparation of

such adoption. 

 

 

 

Impact Assessment Report 

 

2.Annual ongoing technical support

 

Assist in preparing opening balance and other

contents of the IPSAS financial statements

Assist in preparing 2018 Financial report for Comparison 

to 2019 Report 

Includes required adjustments to 2018 

Any relevant disclosures, and other reports 

 

 

 

– Opening balance and financial 

statements properly aligned with IPSAS 

A comparison report produced with 

recommendations 

 

 

Prepare additional guidelines/ templates/ checklists as 

required for IPSAS adoption

 

 

Materials produced 

 

 

Provide ongoing technical support during the transition

year. 

 

IPSAS compliant financial statement 

produced 

updating any change in IPSAS standard 

during implementation periods 

1.–Canicac for IPSAS- Technical” or “Consultancy Services 

 

4. Eligible Consulting Firms 

The consulting firm should have the following qualifications and experience to carry out the assignment: 

1. Company/Firm/Business registration certificate with AABE and other applicable government registering office 

2. Renewed Trade License for 2012/2013 E.C. 

3. Tax Clearance Certificate for 2012/2013E.C 

The following are also the minimum requirements to be eligible for the consulting service: 

1. General experience: At least 5 years in the field of accountancy in the public/private sector. 

2. Specific experience: The consultant must have at least one year experience in the field of international public, private sector financial reporting standards (i.e. IPSAS) 

3. Special Requirement: Consultant having experience with the study of similar assignments (IPSAS) in the government entity/Nongovernment organization. 

5. Preparation and Submission of Proposal 

The proposal consists of two parts: a Technical Proposal and a Cost/Financial Proposal. Each part shall be placed in a separate sealed package marked with the name of the offer or and labeled 

“Consultancy Services for IPSAS- Technical” or “Consultancy Services for IPSAS – Financial,” as appropriate. (If desired, both sealed packages can be enclosed within a larger single package.) 

Both the Technical Proposal and the Financial Proposal shall contain a letter of offer signed by an authorized individual that also indicates the names and contact information for individuals authorized to negotiate on behalf of the firm. 

How to Apply: Submission and Deadlines The proposals shall be submitted to the organization not later than 10 days 

All proposals and correspondence should be addressed to:  ISD 

P.O. Box: – 171 Code1110, Addis Ababa-Ethiopia 

Tel +251 11 618 6774/0912986074/0911182233 

Proposals should be presented in person or mailed or sent by courier. 

Our office is near British Embassy opposite to MINAROLE Building along the side/slip road to Sholla. Only short listed candidates are contacted The bid will beopen without the presence of the bidders based on organizational policy and ISD reserves the right to accept or reject any or all offers.