Financial Consultant for Cruz Vermelha de Timor-Leste (Timor-Leste Red Cross - CVTL)

 

Financial Consultant for Cruz Vermelha de Timor-Leste (Timor-Leste Red Cross - CVTL) 

 

TERMS OF REFERENCE

 

Background

As of December 2021, CVTL faced an internal issue related to management of their finance team due to the sudden absence of their head of Finance’s illness. This gap in this position has created challenging situation on running their finance operation.

In December 2021, CVTL should conduct their annual financial closing to enable them generating annual financial report and provide necessary information for their annual audit. The closing of the 2021 financial report is a crucial part to start the new annual cycle of bookkeeping as of January 2022. CVTL have been utilizing MYOB for their bookkeeping processes. Unfortunately, the knowledge on MYOB within CVTL is depending on the Head of finance.

According to CVTL, on the day-to-day operation at technical level, CVTL still could try to find ways to overcome the team management issues, however the organization is seeking for support to work on the challenges they faced on annual closing as well as their audit progress.

While this is an internal issue that is faced by the National Society, IFRC as one of their partners, as well experienced challenges on receiving financial reporting of various projects. CVTL’s SG as well seeking for support from the IFRC on temporarily supporting them on the most urgent process, the annual closing and audit. To support this process, a consultant who has been working or at least have strong knowledge on the NS and MYOB need to be recruited to assist the NS.

Scope of Work

The finance consultant will assist the CVTL to conduct the comprehensive financial work of CVTL, consist of:

1. Conducting the yearly financial closing of 2021
2. Generate an auditable CVTL Financial Statement of 2021
3. Preparing the separation of bookkeeping for January 2022 in MYOB
4. Support in updating the 2005 finance manual

 

Detailed Task

1. Conducting the yearly financial closing of 2021

- Extensive consultations and communication with all relevant project holder in CVTL to have the assurance that all project expenditures have been booked in MYOB System.

- Manage the Asset Depreciation calculation for the period of 2021 and booked into the MYOB System.

- Preparing the closing entries and conduct a proper yearly financial closing by using MYOB

 

2. Generate an auditable CVTL Financial Statement of 2021

- Ensure that all financial documents are align with the financial statement that being produce

- Generate an auditable financial statement after having a yearly closing of 2021

3. Preparing the separation bookkeeping for January 2022 by using the MYOB

-  Ensure the beginning balance for January 2022

- Ensure that the closing entries in December 2021 are not carried over to the beginning balance of January 2022

- Ensure that there are systems established for tracking expenditure against grant budgets for 2022

4. Updating the 2005 Finance Manual

- Learning the 2018 Consultancy Report held by Junaedi and Partner, an Accounting Firm

- Learning the 2018 CVTL Accounting System Upgrade Consultation Report   

- Learning the 2009 Recommendation to Finance Manual

- Extensive audition and consultation with relevant finance sector and Secretary General 

 

Objectives

The objectives of the Consultant:

1. To ensure that CVTL can properly conduct the yearly closing of December 2021 in MYOB
2. To ensure that CVTL can begin the new bookkeeping for the period of 2022 in MYOB
3. To ensure that CVTL have an asset depreciation calculation
4. To ensure that CVTL could attain an auditable financial statement of 2021 to be next will be audited by the Public Accounting Firm
5. To ensure that all financial supporting document are align with the financial statement to ease the audit process.
6. To ensure that finance manual is updated with the needs and the development of CVTL
7. To improve the knowledge on how to use the MYOB for branch staffs

 

Consultancy Deliverables

1. Auditable Financial Statement of 2021
2. Asset Depreciation for the year of 2021
3. The Financial Statement for the period of January 2022
4. Consultancy Report (Including current analysis of CVTL financial management and recommendations for way forward)
5. 2022 Recommendation Point to Finance Manual
6. Activity Report of the MYOB Training for Branches

 

Method of delivery

The consultant will report to the CVTL Secretary General for the overall consultancy deliverables and IFRC Financial Sustainability Senior Specialist for the contractual management. The Consultant will work closely with the CVTL Finance Department with the direction of CVTL Finance Commission and Secretary General on daily basis and establish a communication to relevant project finance staffs. Series of in-depth discussions, observation, coordination, and desk review will be used by the Consultant to result in the deliverables. 

 

Timeline and Schedule for payment of fees

Timeline of the Consultancy follows the below timetable:

Timeline	Activity	Results
March 2022	Contract signing Details explanation on the list of projects During 2021 Details explanation on carried over project to 2022 Having Permitted Access to MYOB Calculate the Asset Depreciation for the period of 2021 Starting the process of yearly closing of 2021 Starting the Separation Bookkeeping of 2022 First payment: 40% of the total consultancy fee	Understanding in the financial situation during the absence of finance coordinator Understanding the CVTL bookkeeping situation in MYOB Asset Depreciation for the period of 2021 Original Consultancy Receipt for the First Payment Action plan for four months working
April-May 2022	Finishing the yearly financial closing of 2021 Finishing the separation bookkeeping in MYOB Generate an auditable CVTL Financial Statement of 2021 Finish the ensure all financial supporting document ready to be audited Starting the process to revise the finance manual	Auditable Financial Statement of 2021 The financial statement of 2022 (after separation) Progress Report
June 2022	Finish to revise the finance manual MYOB Training for Branches Final Consultancy Report (Analysis and Recommendations) Final Payment: 60% of the total consultancy fee	Updated 2022 Finance Manual Activity Report on The MYOB Training for Branches Final Consultancy Report Original Consultancy Receipt for The Final Payment

 

Terms of Payment

Payment will be done with the following schedule:

 

1. The first payment is 40% of the total consultancy fee, upon the signing of the contract and plan of action provided and approved by IFRC and CVTL
2. The second payment is 60 % of the total consultancy fee, upon the completion all expected deliverables and submission of the Final Consultancy Report
3. Total consultation fee is USD 6,000 (including travel cost required and all applicable taxes by Government of Indonesia/Timor Leste)

 

Time Allocation

It is expected that the consultation activities can be executed in the month March-June 2022.

 

Management of consultancy

This consultation contract will be managed by IFRC, and the Consultant will be reporting to IFRC. During the consultation period, the Consultant will be directly coordinating and working closely with Secretary General, Finance Commission and its technical team.

Notes

• The Consultant will be contracted by the IFRC, and the standard contractual terms will apply.

 

Please send your Cover letter, CV and professional references to:

Luis Pedro Pinto – CVTL Secretary General lpedro_cvtl@redcross.tl

AND

Francisco Carvalho - CVTL Human Resources Coordinator francisco_cvtl@redcross.tl

By 1pm on Tuesday 15^th of March - late responses will not be considered.

PLEASE DO NOT APPLY FOR THIS CONSULTANCY unless you have the qualifications and experience.

Only short-listed candidates will be notified.

Please insert on the subject line as Financial Consultant for CVTL .