Finance and Accounting Consultancy

Consultancy for Financial and Accounting Policy and Procedure Manual

OBJECTIVE OF THE CONSULTANCY

The objective of this consultancy is to support the Women’s Programs Association (WPA) in strengthening the development and implementation of the Financial and Accounting processes and Reporting framework to ensure alignment with relevant accounting standards, and reflect current best practices. WPA is currently commissioning a consultant to develop an MIS to support in the administrative, technical and financial planning and management, programs monitoring and reporting.

The main objective of the Consultancy is to carry out a financial audit of WPA and an assessment of the financial and accounting procedure practices in order to identify gaps and areas, which may require improvement. Thereafter, a Financial Audit report and a Financial & Accounting Policy and Procedure Manual will be delivered. Key activities will include the following:

i- Undertake a review of WPA’s Financial & Accounting Procedures Manual including
a) General Ledger and Chart of Accounts
b) Internal Control
c) Organizational Planning and Budgeting
d) Management and control of Bank Accounts, Cheques, Cash and Receipts
e) Payroll and Administration
f) Payments
g) Project Accounting
h) Audits
i) Reports
j) Fixed Asset Account Procedures; 

ii- Discuss with WPA’s staff to evaluate barriers, needs, and inadequacies of the currently implemented Financial and Accounting process.

iii- Align the Financial & Accounting Policy and Procedure Manual with international best practices related to Financial and Accounting Procedures and Reporting Standards;

 SPECIFIC TASKS AND RESPONSIBILITIES

An experienced Consultant is sought to conduct a comprehensive review of WPA’s documents and frameworks in order to develop the Financial & Accounting Policy and Procedure Manual. The Consultant must research best practices and processes and apply International Financial Reporting Standards that will address specific gaps and barriers by aligning new policies to meet the needs and standards of WPA and its’ Partner Institution.

Specifically, the Consultant is required to:

Task 1: Undertake a comprehensive review of the Financial and Accounting procedures, frameworks, and practices currently adopted by WPA;

Task 2: Discuss with the WPA’s staff to identify specific Financial and Accounting gaps and barriers;

Task 3: Compare and contrast best practice with the WPA operations and make recommendations for improvements;

Task 4: Conduct a review of all forms that are relevant or directly linked to the financial process to bring in line with identified changes where necessary;

Task 5: Produce deliverables outlined in section "expected deliverables".

EXPECTED DELIVERABLES

1. Inception Report that includes
a) review of the existing documents
b) work plan for the execution of the assignment and expected outputs;

2. Draft Financial and Accounting Policy and Procedure Manual, that aligns to the needs and standards of WPA and its’ Partnering Institutions;

3. Presentation of the Draft Financial and Accounting Policy and Procedure Manual to WPA’s Management team;

4. Submission of Final Financial & Accounting Policy and Procedure Manual, that must incorporate feedback received from WPA;

5. Delivery of training to WPA’s Staff on the final draft of the Financial and Accounting Policy and Procedure Manual.

OBLIGATIONS OF THE WPA 

To facilitate the execution of this consultancy, the WPA will provide the following:
a. Available background documents, transactions, invoices… and information relevant to the assignment;
b. Facilitate virtual contact and dialogue with relevant staff and stakeholders, as necessary, upon request of the Consultant.

INSTITUTIONAL ARRANGEMENT

The work of the individual that will be engaged shall be supervised by WPA Executive Director. As such, the confirmation of acceptability of report contents, the authorization of disbursement of payment, and evaluation of performance shall all be undertaken by the Executive Director.

DURATION OF ASSIGNMENT

The task is expected to be completed within ten (10) weeks from the date of signing of the contract. The individual, therefore, is required to prepare and submit the entire plan in a way that allows the achievement of all deliverables within this period.

DUTY STATION

The selected individual shall not be required to be present at WPA office, and may work in his/her own office with coordinated visits to WPA.

Professional requirements

Candidates are expected to have:
a) eight years’ experience in conducting financial auditing and providing consulting services in the field of design, development and updating of Finance and Accounting manuals;
b) Six years working experience in auditing and developing Finance and Accounting reporting guidelines;
c) Advanced knowledge of Microsoft Office Package (Excel, Word);
d) Full command of the English language with prior experience and proven capacity for excellent oral and written communication/documentation in the development of Finance and Accounting reporting guidelines.