TA-reform of fin. reporting in Serbia - P154862
DIA PMU | Published May 25, 2016
General Procurement Notice
GENERAL PROCUREMENT NOTICE
Repubic of Serbia
SerbiaTechnical Assistance for Reform of Corporate Financial Reporting Project
Grant No. TFOA2080,P154862
The Republic of Serbia (RoS) has received from the International Bank for Reconstruction andDevelopment/International Development Association("World Bank"), acting as administrator of grant funds provided underthe EuropeProgram for Accounting and Institutional Strengthening (REPARIS) (TF071151), financing in theamount one million seven hundred and forty thousand Euros (?1 740,000) equivalent from the trust fund toward the cost of the Serbia TechnicalAssistance for Reform of Corporate Financial Reporting Project, and it intends to applypart of the proceeds to payments for goods and consulting services to be procured under this project.
The project will include the following components:
Part 1: Promoting better formulation, application, understanding and use ofcorporate accounting and auditing standards
Provision oftechnical assistance to strengthen the capacity of the accountancy and audit professions and improve monitoring and evaluation byregulators of financial reporting for private companies and state ?owned enterprises (SOE) through:
a. Carryingout in depth analyses of existinglegislation and regulations, provide support for alignment of financial reporting framework with EU acquis communautaire to identifygaps between the Recipient's corporate financial reporting corpus of law andregulations with new EU acquis communautaire and propose appropriateamendments
b. Establishment of an International Standardson Auditing (ISAs) committee and developing a sustainable process for translating ISAs inSerbian.
c. Developing a sustainable process fortranslating and adopting International Financial Reporting Standards (IFRS) and IFRS for SMEs in Serbian and supportingestablishment of sharing mechanisms with other countries,
d. Developing andmaintaining a relevantwebpage on the MoF website to provide accurateand up to date information to stakeholders of financialreporting
e. Developing and implementing training onIFRS, IFRS for SMEs and other financial reporting issues for stakeholders through designing, developing and delivering training onIFRS to enchance capacities on IFRS financial statements preparation, auditing, use and regulation,
f. Provision of training on the use andapplication of ISAs for auditing practitioners to enhance understanding for ISA andits application, and training the trainers for sustainability
g. Carrying out events and activities toincrease stakeholders' understanding and use of financial reporting in decision making, including strong compliance culture, goodcorporate reporting information and educational guidance,
h. Developing andimplementing a publicawareness programme to promote and increase public demand for good financial reporting system
i. Improve data analyses and operations inaudit procedures of SOEs throughthe provision of software and training to the State AuditInstitution.
Part 2: Project Management,Coordination and Evaluation
Strengthening the RoS capacity to carry out the Project management including overall management and coordination,project related fiduciary activities (financial management and procurement) as well as monitoring and evaluation activities to ensure the long termsustainability of the reform results and operating costs.
Procurement of contracts financed by the World Bank will be conducted through the procedures asspecified in the World Bank's Guidelines: Procurementof Goods, Works and Non-consulting Services under IBRD Loans and IDA Credits and Grants by World Bank Borrowers,dated January2011, revised July 2014 and is open to all eligible bidders as defined in theguidelines.
Consulting services will be selected in accordance with the World Bank's Guidelines: Selection and Employment of Consultants under lBRD Loans and IDACredits and Grants by World Bank Borrowers, dated January2011, revised July2014.
Specific procurement notices for contracts to be bid under the WorldBank's international competitive bidding (ICB) procedures and for contracts for consultancy services will be announced, as theybecome available, in UN Development Businessand dgMarket and local newspaper Politika.