The Objective Of The Project Financial Statements Audit Is To
Enable The Auditor To Express An Opinion On The Financial Statements Of The Electricity
Supply Reliability Project For The Year Ended Dec. 31, 2014 (ibrd 80550) Prepared In
Accord. With Ifrs.
REQUEST FOR EXPRESSIONS OFINTEREST
FOR THE AUDIT OF THE ELECTRICITY SUPPLY RELIABILITY PROJECT FOR THE YEAR ENDED DECEMBER 31, 2014 (IBRD 80550)
Republic of Armenia
Projects: Electricity SupplyReliability,
CONSULTING SERVICES, Least Cost Selection (LCS)
IBRD Loan-8055AM; Project ID: No. P116748
The Republic of Armenia has received a Loan from the World Bank (IBRD) toward the cost ofElectricity Supply Reliability Project, and intendsto apply part of the proceeds under the contract
The objective of the Project Financial Statements auditis to enable the auditor to express an opinion on thefinancial statements of THE ELECTRICITY SUPPLY RELIABILITY PROJECT FOR THE YEAR ENDED DECEMBER 31, 2014(IBRD 80550) prepared in accordance with International Financial Reporting Standards (IFRS) as published by the InternationalAccounting Standards Board (IASB). The project's books of account provide the basis for preparation of the financial statements andare established to reflect the financial transactions in respect of the project.
The Project Financial Statements should include
a) a Summary of Funds received, showing the WorldBank, Project funds from otherdonors, and counterpart funds separately.
b) a Summary of Expenditures shown under the mainproject headings and by main categories of expenditures, both for the current fiscal year and accumulated to-date;
c) a Summary of Summary Reports or SOEs used asthe basis for the submission of withdrawal applications;
d) A Statement of Designated Accounts;
e) a Balance Sheet showing Accumulated Funds ofthe Project, bank balances, other assets of the Project, and liabilities, if any; and
f) Notes, comprising a summary of significant accounting policies and other explanatorynotes.
The High VoltageElectric Networks CJSCnow invites eligible Auditors (included in the World Bank's ECA Region Eligible Audit Firms listupdates as of August 25, 2014)indicate their interest in providing the services. Interested auditors must provide information indicating that they are qualifiedto perform the services (brochures, description of similar assignments done under fund of International financial institutions (IFIs), description of other similar assignments, etc.).
Shortlisting criteria are
· Company's general experience /max 30 points/
· Company's experience in similar assignments financed by IFI /max 70 points/
The Auditor will be selected by Least Cost Selection (LCS) method in accordance withthe procedures setout in the World Bank's current edition of Guidelines: Selection and Employmentof Consultants by World Bank Borrowers (January, 2011, revisedJuly 2014).
Interested consultants may obtainfurther information on working days from 09:00-17:30(GMT+4:00) by following phone: +37410 72-02-70. Expressions of interest must be delivered to the address below by January29, 2015 15:00 (GMT+4:00).
High Voltage Electric Networks CJSC
Address: 1 Zoravar Andranik Street,
City: Yerevan, #0084, Country:Republic of Armenia
Attention: Aram Ananyan
Phone #: +37410-720010; Fax #: +37410-720121