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Project Details

Project Name:

Strengthening Of the Public Accounting System

Republic of Maldives
Project Location within Country:

Male-Ministry of Ministry of Finance and Treasury
Professional Staff Provided By Your Company:
No of Staff:

Name of Client:

Ministry of Ministry of Finance and Treasury, funded by the World Bank
No of Man-Months:

Start Date:

April 2006
Completion Date:

March 2007
Approx Value of Services:

Name of Associated Firm(s) If Any:

No of Man-Months of Professional Staff Provided by Associated Firm(s):

Name of Senior Staff (Project Director/Coordinator, Team Leader) Involved and Functions Performed:

Vas Banschikov - Team Leader/Financial Adviser
Detailed Narrative Description of Project:

GOM (Government of Maldives) with the support of donors/international financiers decided an implementation of PAS (Public Accounting System)In addition to the on-going support for Tsunami Relief and Reconstruction Fund (TRRF), the objectives of this component of the project were as follows:-

1. To prepare broad requirements for the PAS (Public Accounting System) for the Republic of Maldives;
2. To prepare RFP (Request for Proposal) including scope of services and TOR’s (Terms of Reference);
3. Call for EOI (Expression of Interest), evaluate EOI’s and short-list consultants;
4. Request full proposals, evaluate and recommend/select preferred service provider.

This component of the project was work that continued from the work completed on financial management and accounting on TRRF. The basis of the planning and design of the PAS was done on work completed in 2002 and not proceeded further with due to non-availability of funds by. The original funding arranged was delayed due not meeting some of the conditionality’s of the funding arrangements by GOM.

Detailed Description of Actual Services Provided by Our Company:

GOM operates a single entry accounting system where cheques prepared by Line Ministries and other Government agencies are presented to the MMA (Maldives Monetary Authority) after which the MMA provides a monthly “bank statement” to the issuer to be used as the basis of accounting in varying manual systems, for example Manual Registers, Excel spreadsheets and simple bespoke systems.

The strategy of the PAS is to design a system, document requirements and procure COTS (Commercial Off the Shelf System) implemented by the contractor.

To implement the strategy, the services provided included the following: -

• Discussions with GOM and ADB (arranged earlier funding) on the current status of project and funding;
• Negotiations with ADB on possible contribution to funding proposed PAS;
• Preparation of Scope of Project and TOR’s for PAS;
• Finalising funding with the EC (European Commission) and the World Bank;
• Finalising the RFP and obtaining a “No Objection” from the World Bank;
• Using the World Bank Procurement guidelines preparing and EOI for advertising for consultants;
• Evaluating consultants and preparing a shortlist and obtaining a “No Objection” from the World Bank;
• Distributing the RFP to all short-listed consultants, evaluating proposals, preparing and Evaluation Report and recommending a preferred supplier/consultant;
• Assisting the Government with contract negotiations;
• Preparing a Project Plan;
• Briefing the consultant on arrival and assisting with the preparation of the Inception Report and commencing the Design and Procurement Project.

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