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Tender Details
- Country: Albania
- Summary: Assistance with International Financial Reporting Standards Reporting
- ALT Ref No: 24636668
- Deadline: 20 Jul 2018
- Competition: ICB
- Financier: European Bank for Reconstruction and Development (EBRD)
- Purchaser Ownership: -
- Tender Value: Refer Document
- Notice Type: Tender
- Document Ref. No.: 9159-EOI-48466
- Purchaser's Detail :
- Description :
- Expression of Interest are invited for Assistance with Albanian Railways International Financial Reporting Standards Reporting. Project Description: EBRD is currently considering a sovereign loan of up to EUR 36.87 million to the Government of Albania (the “Borrower” or “GoA”) to be on-lent to Hekurudha Shqiptare (the “Albanian Railways”, the “Company” or “HSH”). The loan will be used to finance the rehabilitation of the 34.17 km railway line between the Tirana Public Transport Terminal (“PTT”) and the city of Durres and the construction of a new railway line approximately 5 km in length and its interchange connecting the Tirana-Durres line with the Tirana International Airport (the “Project”). The Bank-s loan will be used to co-finance the construction works related to the Project. The Project is part of Route 2 of the Western Balkans Core Network connecting the cities of Podgorica in Montenegro and Vlore in Albania and has been established as an indicative extension to the Trans-European Transport Networks (“TEN-T”) to the Western Balkans core railway network. The Project forms part of the Connectivity Agenda of the European Union (“EU”) which promotes transport connectivity in the Western Balkans as an important factor for the economic development, regional cooperation and EU integration. Implementation of the Project will be overseen by a Project Implementation Unit (“PIU”) comprising members of the Company, Ministry of Transport and Infrastructure (the “Ministry”, “MTI”) and other relevant stakeholders. Assignment Description: Currently the Company-s accounting policies and procedures are not compliant with International Financial Reporting Standards (“IFRS”). As such a consultant (the “Consultant”) is required to review HSH-s accounting policies and procedures to ensure they are consistent with IFRS, provide advice regarding amendments required to ensure their consistency with IFRS and support the Company in preparing fully IFRS compliant financial records and reporting. In order to achieve the objective the Consultant will carry out the following tasks: Review Company-s accounting policies and procedures and advise amendments to ensure their consistency with IFRS; Review Company-s accounting manual in line with the new IFRS compliant policies and procedures; Review Company-s Management Information System in regard to financial reports and advise on the required reports and special analyses, including reporting and analysis templates and guidelines, that are needed to answer management-s questions about the financial statements or financial information for the purpose of facilitating management decision making; Review Company-s Assets register, including Company-s property and equipment, and support its update with necessary and accurate information for the purpose providing accurate financial information in the preparation of IFRS Financial Statements. Moreover, advise and support preparing clear guidelines for accurate and IFRS compliant maintenance of the asset records; Review Company-s cost accounting system and advise on the methodology, including analysis templates and guidelines, necessary for the management decision making; Review Company-s historical financial statements and advise and support the management in compiling fully IFRS compliant financial statements (including: Balance Sheet; Profit and Loos statement, Cash Flow statement and the Statement of Changes in Equity), for the financial year 2018, including necessary restatements for the previous financial years; & The Consultant will ensure the transfer of skills to the relevant HSH staff for the purpose of developing in-house capacities for the preparation of fully compliant IFRS financial statements as well as other relevant management financial information going forward. The Consultant will provide training workshops as well as on-the-job trainings to the Chief Financial Officer and its team and other relevant HSH staff for the implementation of the newly developed policies, procedures and other business information processes that are developed under the project. The TOR for the Assignment can be found here: Albanian Railways - Assistance with IFRS Reporting Status of Selection Process: Interested firms or group of firms are hereby invited to submit expressions of interest. Cost Estimate for the Assignment: EUR 150,000 (exclusive of VAT). The Consultant must determine whether any indirect taxes/VAT are chargeable on the proposed services and state the basis for such. If any indirect taxes/VAT are payable, the Client will have to pay indirect taxes/VAT element to the services directly to the Consultant unless otherwise agreed. Funding Source: It is anticipated that funding for the Assignment will be provided by technical cooperation funds managed by the EBRD. Eligibility: There are no eligibility restrictions. Consultant Profile: Corporate services are required. The consultant, as a company or consortium, is expected to have appropriate experience in advising companies on IFRS compliance and accounting and reporting systems as well as in conducting trainings on these matters for company executives. The Consultant-s core team shall be composed of experts with a mix of international experience in the following areas: IFRS accounting specialist;& Reporting and information systems specialist. In addition, the consultant must meet the following criteria: The network or firm must be a full member of the International Federation of Accountants (IFAC) ‘Forum of Firms-, note that the affiliates or member firm proposed to be hired as auditors must also be full members of the Forum through the network; and The network or firm must be one of the top 30 international Accounting Networks and Associations, ranked by annual income. Submission Requirements: In order to determine the capability and experience of Consultants seeking to be shortlisted, the information submitted should include the following: (a) Company/group of firm-s profile, organisation and staffing (max. 2-4 pages); (b) Details of previous project experience or similar assignments particularly undertaken in the previous 10 years, including information on contract value, contracting entity/client, project location/country, duration (mm/yy to mm/yy), expert months provided (if different from duration), assignment budget, percentage carried out by consultant in case of association of firms or subcontracting, main activities, objectives, etc; (c) CVs of key experts who could carry out the Assignment detailing qualifications, experience in similar assignments, particularly assignments undertaken in the previous 5 years, including information on contracting entity/client, project location/country, duration (mm/yy to mm/yy), expert months provided, assignment budget, main activities, objectives. (d) Completed Consultant Declaration and Contact Sheet, the template for which is available from the following web-link: http://www.ebrd.com/pages/workingwithus/procurement/notices/csu/contact_sheet.doc The expression of interest shall not exceed 25 pages (excluding CVs and contact sheet). One original and one copy (hard copies) of the complete expression of interest (including CVs, Consultant Declaration and Contact Sheet) shall be submitted to the Client in English in an envelope marked Expression of Interest for “Assistance with International Financial Reporting Standards Reporting”, to reach the Client not later than the closing date. One additional copy shall by sent to the Bank-s contact person by email (pdf) in one file by the same due date. Important Notes: The selection will normally be made from responses to this notification only. Consultants will not be asked to submit a proposal. The highest-ranked Consultant will be selected from a shortlist and be invited to negotiate the contract, subject to availability of funding. The evaluation criteria are as follows: Experience of the firm in performing IFRS audits and in IFRS accounting with financial institutions -50% Skills and experience of the proposed IFRS accounting specialist - 25% Skills and experience of the proposed Reporting and information systems specialist - 25%
- Documents :
Purchaser : HEKURUDHA SHQIPTARE (ALBANIAN RAILWAYS)
Attn: Bashkim Kasoruho
Lagjia nr.3, Egnatia Street, Durres.
Tel: +355 522 22037
Fax: +355 522 22037
Email :bashkim.kasoruho@hsh.com.al
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