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PRESS RELEASE

Financial Reporting Technical Assistance Programme: Request for expression of interest 2

June 16, 2010



Financial Reporting Technical Assistance Programme
financed by the Swiss Contribution to the enlarged European Union

REQUEST FOR EXPRESSION OF INTEREST FOR

Design, Development and Delivery of Training on Clarified International Standards on Auditing (ISA) in Poland and Latvia # 1008296

The objective of the Financial Reporting Technical Assistance Program (FRTAP) is to support the new EU member states in their efforts to put in place sustainable regulatory and institutional frameworks for financial reporting by private sector entities. FRTAP forms part of the Swiss enlargement contribution to reduce economic and social disparities within the enlarged EU.
The World Bank’s Centre for Financial Reporting Reform (CFRR) has entered into agreements to provide technical assistance under FRTAP to the governments of Estonia, Latvia, Poland and Slovenia.  It is currently negotiating agreements with the governments of Bulgaria, the Czech Republic and Romania.

The implementation of International Standards on Auditing (ISA) is an important component of FRTAP because the EU intends to require that the financial statements of limited companies and some other entities are audited in accordance with endorsed ISA. These terms of reference deal with the provision of ISA training in Latvia and Poland (and may be extended to other member states).
The objective of this assignment is to enhance the capacity in Latvia and Poland (and possibly other member states) to: audit, and regulate the audit of, financial statements of business entities; participate in the due process for the development of ISA and the adoption of ISA by the EU; and provide ISA training both during the project and subsequently. The consultant will: design the content of a clarified ISA training with the objective to enhance the capacity in Latvia and Poland (and possibly other member states).

The training program will consist of the overview training and professional level training. The professional level training will include three modules: (i) planning and execution, (ii) reporting, and (iii) remedial and review; develop professional-level and overview ISA training courses (3.1 and 3.2) based on the design; identify and train a team of trainers who have the relevant language and technical skills, knowledge and experience to deliver the ISA training courses and who will identify and train further members of the training team (3.3); with the assistance of the team of trainers and other local experts, translate the training material for each course into the local languages (3.4); using the team of trainers, deliver the ISA courses in local languages as part of the accredited CPD programs in Latvia and Poland (3.5).; at the end of each course, assess the performance of each trainee by means of an appropriate test (3.6).

The courses will form part of the accredited CPD programs of the national audit association/chamber. Where audit firms have developed their own clarified ISA training courses and delivered such courses to their staff, these may be considered in lieu of the courses developed and delivered under this project, if the content and rigor of such internal courses correspond with the course developed by this project. To ensure consistency, the consulting firm will work closely with the relevant professional bodies on the dates, locations and accreditation of the courses. The trainees will be qualified auditors or government officials or regulators who are involved in ISA related activities. The trainees will be identified by the national audit bodies and appropriate government departments and agencies. The training may be mandatory for some people.

More detailed information is included in the Terms of Reference (attached below) and in the  eConsultant2 system  in the section "bidding opportunities" - link is provided below. As a courtesy, the Bank Group also sends the notices to dgMarkets and UNDB Online. At this stage of the selection process the qualified and interested firms are invited to submit its expression of interest through eConsultant2 by June 28, 2010.

Selection number of this assignment is 1008296

 



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