Detalles del proyecto

Visión general

Título del Proyecto

International Financial Reporting Standand (IFRS) Experts - National Power Grid Strengthening Project

Programa País / Plan de Acción
Tender / Procurement notice
2 ago 2019
Modification / Revision / Corrigendum
10 ago 2019
Modification / Revision / Corrigendum
14 ago 2019
16 oct 2019


14 agosto 2019

Fecha limite

16 agosto 2019


850 000 USD

Tipo de aprovisionamiento



49370-002 Package accounting, financial management

Agencia de Financiación

ADB - Banco Asiático de Desarrollo

Duración estimada

24 meses



updated funding by TA 9637

Deadline of Submitting EOI: 16-Aug-2019 11:59 PM Manila local time

Selection Profile

Consultant Type Firm
Selection Method Quality and Cost-Based Selection (QCBS)
Source International
Technical Proposal Simplified Technical Proposal (STP)

Selection Title International Financial Reporting Standand (IFRS) Experts- National Power Grid Strengthening Project

Package Number
Package Name

Advance Action No

Engagement Period 24 MONTH

Consulting Services Budget USD 850,000

Budget Type Maximum

Approval Number 9637
Approval Date
Estimated Short-listing Date 30-Aug-2019
Estimated Commencement Date 23-Sep-2019

Open to non-Member Countries No

Additional Information
Possibility of contract extension Not known
Possibility of consideration for downstream assignment Not known
Indefinite Delivery Contract (IDC) No

Country of assignment Turkmenistan

Country of eligibility for national consultants Same as country of assignment

Contact Information
Project Officer Sohail Hasnie
Designation Principal Energy Specialist
Asian Development Bank


Primary Agency Country Agency Role Contact Person
Ministry of Energy of Turkmenistan Turkmenistan Executing Agency Sulayman Bayrammyradov
Turkmenenergo Turkmenistan Implementing Agency

Publishing History

Type Publication Date Published By Duration of Advertisement Deadline
Original 02-Aug-2019 Aileen M. Aguilar 15 DAYS 16-Aug-2019

Cost Estimate

Competitive Items Amount in USD

Remuneration and Other Expenses
All activities and inputs in the TOR but not limited to remuneration, per diem, air travel, miscellaneous travel expenses, report preparation, production, and transmission, land transportation, communications, etc. 845,300


Non-Competitive Items Amount in USD

Contingency 4,700


TOTAL 850,000

Terms of Reference

Primary Expertise accounting, financial management

TOR Keywords accounting, financial management

Objective and Purpose of the Assignment

I. Background:

1. Turkmenenergo (TE) is a holding company and has number of subsidiaries, including twelve
generation companies, six regional electricity transmission and distribution companies, and five
maintenance companies. It employs close to 12,000 in the field and an estimated 170 staff in the
Head Office.

2. Starting from 1 January 2019, TE is required to move to the international accounting and
financial reporting standards (IFRS) under the Presidential Decree issued in December 2017.

3. The objective of this Terms of Reference (TOR) is to conduct a comprehensive and thorough
diagnostic study of TE that will be used:

(i) To understand the gaps between the Turkmenistan national accounting standards currently applied
to TE’s financial statements and IFRS;
(ii) Establish a review of the Information Technology (IT) system of TE as well as recommendations
on the technical changes and/or investments necessary to produce TE’s IFRS financial statements
from 2020;
(iii) To build a comprehensive action plan of the steps required for TE’s IFRS independent
implementation from 2022;
(iv) To launch the capacity building of TE’s accounting staff to prepare and train staff for the
transition to IFRS;
(v) To provide support to TE in the preparation of IFRS annual accounts and financial statements
for financial year 2020 and 2021.

4. ADB provides a technical assistance including capacity building and planning for TE’s transition
to IFRS. At present TE produces annual financial accounts following Turkmenistan national
accounting standards.

Experts Needed


Team Leadership from International Experts

Expertise or Position Inputs in PM Primary Place of Assignment
1 Project Manager 6 Ashgabat, Turkmenistan
2 Information Technology Expert 6 Ashgabat, Turkmenistan
3 Information Technology Expert 6 Ashgabat, Turkmenistan
4 Accountant 10 Ashgabat, Turkmenistan
5 Accountant 10 Ashgabat, Turkmenistan
6 Accountant 10 Ashgabat, Turkmenistan
7 Accountant 10 Ashgabat, Turkmenistan
8 Accountant 10 Ashgabat, Turkmenistan
9 Accountant 10 Ashgabat, Turkmenistan
10 Accountant 10 Ashgabat, Turkmenistan

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