International GASB Advisory Firm

Marshall Islands has announced a tender invitation for the International GASB Advisory Firm, aimed at improving structural stability and addressing erosion concerns in the tender area. The tender is situated in Marshall Islands, and it represents a key infrastructure initiative designed to enhance safety and environmental resilience. The tender is scheduled to close on 23 Oct 2026, giving interested contractors ample time to review requirements and submit their bids. The official tender notice number is not specified, while the WWW Reference Number is 14085599. Eligible bidders and organizations are encouraged to access the detailed tender documents and specifications to gain comprehensive information about project scope, eligibility criteria, and submission procedures.To download the complete tender documents, bidders are required to register on the website.

Tender Details

Title	International GASB Advisory Firm
WWT Ref No	14085599
Tender No	MH-PFM PMO-576102-CS-CQS
Country	Marshall Islands
Financer Name	The World Bank
Summary	Expression of Interest for International Gasb Advisory Firm Project Title Strengthening Public Financial Management II Project Borrower Bid Reference MH PFM PMO 576102 CS CQS Procurement Method Consultant Qualification Selection Submission Deadline Date Time Oct 23 2026 17 00 Notice No OP00474433 The Government of the Republic of the Marshall Islands RMI faces structural and institutional capacity constraints in sustaining effective public financial management and service delivery Strengthening accounting financial reporting and audit readiness remains a national priority to improve fiscal transparency and accountability With financial support from the World Bank the Government of RMI is implementing the Strengthening Public Financial Management II PFM II Project The Project Development Objective is to strengthen the reliability quality and timeliness of public financial reporting supported by modernized systems and sustained institutional capacity Under Component 1 Improving PFM Practices in Budget Execution and Financial Reporting Sub component 1 1 focuses on developing sustainable in house capability within the Ministry of Finance Banking Postal Services MOFBPS Budgetary Central Units BCUs and selected Component Units CUs to prepare Annual Financial Statements AFS compliant with U S Generally Accepted Accounting Principles GAAP accounting standards MOFBPS has made progress in strengthening its financial reporting capacity and has engaged an embedded GASB Specialist and accounting personnel to progressively support strengthening of financial management and reporting practices Additional specialized advisory support is required to assist the Ministry during the annual financial statement preparation cycle address complex accounting and consolidation matters enhance the current Chart of Accounts CoA to a unified CoA covering all government budget entities strengthen Component Unit financial reporting and its integration with the Government FMIS to support consolidated reporting and audit readiness and provide technical quality assurance RMI has implemented the BISAN Financial Management Information System FMIS as the primary platform for budget execution accounting and financial reporting RMI is also in the process of enhancing the FMIS with additional functionalities that will include budget planning FMIS interface with external systems and improvements in financial reporting While the FMIS is operational preparation of the Annual Financial Statements continues to require manual processes and adjustments outside the system MOFBPS intends to progressively strengthen and automate the generation of GASB compliant financial statements and supporting reports directly from the FMIS Scope of Services Under the general guidance of the PFM II Project Manager and in close coordination with MOFBPS the Firm shall provide specialized technical assistance in the following areas 3 1 Annual Financial Statement Preparation and Technical Support The Firm shall lead and provide hands on technical support to MOFBPS for the timely preparation and completion of the GASB compliant Annual Financial Statements for the Primary Government and agreed material Component Units including Compilation and preparation of the government wide and fund financial statements notes disclosures supporting schedules reconciliations consolidation adjustments and elimination entries for Fiscal Year 2026 Assist the RMI to develop a detailed year end close and financial statement preparation calendar including identification of milestones roles and responsibilities and required adjusting and conversion entries Technical advice and quality assurance on complex accounting treatments adjustments applicable GASB requirements prior period matters and accounting related audit findings Review and strengthening of year end close procedures financial statement templates working papers and supporting schedules where material gaps are identified Targeted surge support during agreed critical periods of financial statement preparation and external audit Provide technical advice on Chart of Accounts enhancements and related financial reporting requirements as required by MOFBPS The Firm shall work alongside the PFM II GASB Specialist the Reform Coordination Unit and MOFBPS accounting staff and shall use existing work products wherever appropriate MOFBPS shall retain ownership and formal approval of the Annual Financial Statements The Firm shall document the compilation process and transfer knowledge and practical tools to enable MOFBPS and relevant Component Units to lead subsequent reporting cycles 3 2 Component Unit Financial Reporting and Audit Readiness The Firm shall provide hands on technical support to agreed material Component Units for the compilation and completion of GASB compliant financial statements and preparation of information required for consolidated government wide reporting including Support the preparation of GASB compliant financial statements reconciliations disclosures supporting schedules and consolidation information for Fiscal Year 2026 and other outstanding prior years Provide technical advice on mapping Component Unit trial balances and reporting information to the Primary Government reporting structure and Bisan FMIS where relevant Assessment of CU financial reporting and audit readiness including accounting records reconciliations year end close audit documentation recurring audit findings systems and relevant staff capacity Establishment of an audit readiness baseline and a Prioritized Component Unit Financial Reporting Improvement Plan Targeted technical assistance to priority CUs to address identified accounting and audit preparation gaps and Development of standardized reporting templates checklists procedures and timelines to progressively enable CUs to harmonize their financial reporting and provide information required for consolidated government wide reporting and audit preparation The assessment and support shall remain focused on financial accounting financial reporting year end close and external audit readiness and shall not extend to broader operational procurement grants management or general compliance matters 3 3 FMIS Financial Statement Automation and Enhanced Chart of Accounts Support The Firm shall provide accounting and functional advisory support for the progressive automation of GASB compliant financial statements and supporting reports through the FMIS including Review testing and validation of FMIS generated financial statements and supporting reports against GASB requirements and approved reporting formats Support for implementation of the enhanced CoA including technical discussions workshops an implementation strategy training and rollout support across relevant RMI budgeting entities Accounting and functional guidance to the FMIS Specialist Graduate GASB Trainees MOFBPS accounting staff FMIS service provider and other relevant technical teams on financial reporting configurations and enhancements and Recommendations to progressively reduce manual financial statement preparation and increase reliance on validated FMIS generated reports The Firm s role shall focus on accounting requirements functional specifications testing validation and quality assurance of the ongoing FMIS Enhancements Technical programming software development and system administration shall remain the responsibility of the FMIS technical team and or service provider 3 4 Audit Support Capacity Building and Knowledge Transfer Throughout the assignment the Firm shall Support MOFBPS and priority CUs in preparing audit ready working papers and responding to accounting and financial reporting matters raised by external auditors where feasible Provide specialized training and technical coaching on complex GASB requirements Component Unit consolidation audit readiness and validation of FMIS generated reports building on the ongoing mentoring provided by the GASB Specialist Develop practical financial reporting guidance templates procedures and reference materials for areas covered by the firm s assignment and Transfer knowledge and responsibilities to strengthen sustainable in house financial statement and audit preparation capacity Duration Location and Conditions of the Assignment Duration Eighteen 18 months with the possibility of extension subject to satisfactory performance continued project requirements availability of financing and applicable procurement and contractual requirements Mode Primarily virtual supplemented by in country missions proposed by the Firm and agreed with MOFBPS in the approved work plan The technical and financial proposals shall state the proposed number duration timing and cost assumptions for in country missions Missions should where practicable coincide with critical periods of the annual financial reporting cycle Component Unit engagement FMIS reporting work year end close audit preparation and targeted training MOFBPS will facilitate reasonable access to relevant financial information FMIS reports audit documentation and designated counterpart personnel required for performance of the assignment The detailed Terms of Reference TOR and REOI with Annexes for the assignment can be obtained at the email address given below Ministry of Finance Banking and Postal Services MIR r

Deadline *

Deadline

23 Oct 2026

Publishing Date *

Publishing Date

12 Oct 2026

Tender Documents

World Wide Tenders

International GASB Advisory Firm

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