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ADB to extend a grant to South Caucasus for Financial Disclosure Standards Enhancement

25 December 2008 10:52 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Asian Development Bank has approved a Enhancing Financial Disclosure Standards Project for Armenia, Azerbaijan, and Georgia.
The ADB Office in Baku said the $600 000 project aims to Improve quality of accounting standards in line with International Financial Reporting Standards (IFRSs) and auditing standards in line with International Standards of Auditing (ISAs) in all three countries.
Recruitment of consultants expected to take place in January 2009.
The TA will require 24 person-months of consulting services between April and October 2009. The international consultant will be the team leader and accountant. The national consultants will be accountants, one from each country. The four consultants will be assisted by counterpart staff from the three countriesâ€™ IAs. The IAsâ€™ counterpart staff will guide the consultantsâ€™ research, facilitate access to relevant government and other agencies and officials, and provide necessary information. The three countriesâ€™ IAs will provide the team leader and the national consultants with office space, furniture, and a telephone line during TA implementation. An international consulting firm will be selected using quality- and cost-based consultant selection and the biodata technical proposal method, in accordance with ADBâ€™s Guidelines on the Use of Consultants (2007, as amended from time to time). Selecting a firm for this purpose will facilitate better coordination between the team leader and the three national consultants in the three countries covered. Consultants will procure equipment in accordance with ADBâ€™s Procurement Guidelines (2007, as amended from time to time).