Lebanon Waste Management - Accounting and Financial Management Consultancy

I. Financial management rules.

• Obtain an understanding of the LWM organization, operations and current governance, operations and administrative policies.
• Design and formalize LWM financial management policies/rules, including general principles, budget, accounts and asset management, procurement internal audit and external audit. Propose adjustments to current policies if areas of discrepancy are identified.

II. Accounting methodology.

• Review the LWM operations and design and formalize of suitable accounting policies and methods, including tools, formats and procedures on management judgments and key assumptions in accordance with Lebanese GAAP and IFRS.

III. Financial reporting procedures.

• Develop improved internal controls procedures.
• Review and preparation of journal entries
• Preparing the financial reporting process between closing and financial statements generation.
• Develop a documentation process.
• Maintain financial statements for at least five years.
• Review the functions and positions related to financial management and provide
• recommendation for improvement and propose adjustments to the job descriptions if necessary.
• Establish the chart of account and propose adjustments to comply with IFRS requirements.
• Based on the above, develop the required functionalities for an accounting and financial
• management system suitable for LWM operations, and accounting and financial reporting requirements.
• Evaluate the accounting and financial management software of LWM and identify if it is suitable for its operations, and its accounting and financial reporting requirements. Propose alternatives if needed.

IV. Training.

 Training of staff on the financial accountability, accounting and financial procedures.

• Assess training needs of LWM’s staff, including board and management, of financial

accountability, accounting and financial procedures.

Provide on the job training on the accounting methodologies and standard procedures over financial reporting process along with all tools, templates and procedures to be used in the future by LWM management and staff and Provide bookkeeping activities for 5 months after the delivery of the initial deliverable.