Updating ISA and Related Procedures, Development of 'Reporting Form' and Procedures 'for Determination of Ratings of Reliability and Quality of Services to Audit Firms', and 'for Assessing the Quality of Activity of Audit Firms and Individual Auditors'

REQUEST FOR EXPRESSIONS OF INTEREST FOR CONSULTING SERVICES SELECTION OF A CONSULTING COMPANY Country: Republic of Tajikistan Project: Additional financing for the Public Financial Management Modernization Project – II Grant: D 750- TJ Assignment title: Updating International Standards on Auditing and Related Procedures, Development of 'Reporting Form' and 'Procedure for Determination of Ratings of Reliability and Quality of Services to Audit Companies', and 'Procedure for Assessing the Quality of Activity of Audit Companies and Individual Auditors' Link no.: AF/PFMMPII/CQS-1/2025 The organization of auditing activity in the Republic of Tajikistan is regulated by the legislation. With the view of improvement of auditing activity, the Law of the Republic of Tajikistan "On Auditing Activity" was adopted on March 3, 2006, which was published in a new edition on July 22, 2013. The Ministry of Finance of the Republic of Tajikistan was designated as the coordinator and responsible body for the development, approval, and introduction of international standards on auditing in organizations of the Republic of Tajikistan. In accordance with the Law of the Republic of Tajikistan dated July 22, 2013 "On Auditing Activity" the regulation and development of auditing activity in the country is based on the introduction and application of internationally recognized standards. Under the implementation of the “Strategy on the implementation of International Auditing Standards in the Republic of Tajikistan for 2013-2018” and also with the view of improvement of audit quality, enhance confidence in financial reporting, and harmonize with the international practice, 35 International Standards on Auditing (ISAs), as well as the ISA glossary and International Standard on Quality Management 1 (ISQM 1) were translated into Tajik in 2017. This step became an important milestone in the adaptation and application of ISAs in national practice. However, a significant amount of time has passed since the last translation, during which the International Federation of Accountants (IFAC) has adopted new and updated editions of standards, including changes to approaches to quality management, risk assessment, and other key auditing aspects. Therefore, there is a need to update ISAs into Tajik, including new, revised, and related auditing standards. The purpose of the assignment is the Ministry of Finance needs to undertake the following set of activities with the view of enhancing transparency, efficiency, and trust in auditing activity, as well as bringing the national auditing system in line with the requirements of international standards:

• Update and revise the terminological dictionary (glossary) of the International Standards on Auditing (ISAs).
• Need for updating the International Standards on Auditing
• Assessment of the quality of professional activity
• Assignment of reliability and service quality ratings
• Revision of reporting forms
• Editing of the updated International Standards on Auditing ISA 230, ISA 300, ISA 700, and the International Standard on Quality Management 1 (ISQM 1)

To achieve the above-mentioned objectives, the Ministry of Finance of the Republic of Tajikistan intends to hire a firm to accomplish the abovementioned tasks under the Terms of Reference. Qualification requirements for the Company and consultants: The Company's qualifications and experience. The firm's qualifications shall include good knowledge of and experience with the requirements and procedures for updating accounting and auditing standards established by the International Federation of Accountants (IFAC), as well as:

• Understanding of ISAs and accounting and financial reporting processes;
• Availability of a specialized area of updating services;
• A minimum of 3 years of experience in updating economic documents. The firm's experience in updating accounting or auditing standards will be an advantage;
• Experience in organizing the updating of large, voluminous documents;
• Experience working with state bodies.

Proposed minimum key personnel: The work experience of the firm's consultants must include at least 3 years of relevant professional practical experience and an appropriate professional qualification corresponding to their area of expertise.

• Team Leader

Must have a university degree in accounting and auditing, business administration, economics, or finance; a certificate in accounting and auditing or an internationally recognized qualification from any IFAC member (e.g., ACCA, CPA). Must have at least 5 years of practical experience in accounting and auditing and experience in translating economic documents from English or Russian into Tajik. Experience in similar assignments is an advantage.

• Expert Translators (at least 2 persons)

Must have a university degree in linguistics, translation studies, economics, or a related field. Must have at least 3 years of practical experience in translating economic or financial documents from English into Tajik. Experience with donor-funded projects is an asset.

• Layout and Document Preparation Expert

Must have a university degree in design, IT, publishing, or a related discipline. Must have at least 3 years of experience in document formatting, layout design, and preparation of professional publications.

• Any Other Specialist Required by the Consultant

Must have relevant education and at least 3 years of practical experience in their respective field, as needed for the successful completion of the assignment. The detailed Terms of References (TOR) can be studied at the address below. Hereby the Ministry of Finance of the Republic of Tajikistan invites eligible consulting companies to express their interest in providing the services. The interested Consulting companies must provide information demonstrating that they have the necessary qualifications and relevant experience to perform the services. It is assumed that a contract will be signed with the bidder with the lowest proposal related to the provision of all documentation set out in the Terms of Reference. Quotes must include all costs of the consulting company, including taxation, local travel, meals, accommodation, support staff costs, cost of printing of reports, etc. Additional information can be obtained at the address below during office hours from 08:00 to 17:00. Expression of interest must be delivered in a written form to the address below (in person or by e-mail) by December 26, 2025. Attention: Ministry of Finance of the Republic of Tajikistan Public Financial Management Modernization Project II To: Nozimzoda Ilkhomjon Coordinator of PFMMP-2 Address: Dushanbe, 35 Sheroz Street, 9th floor, room 901 Tel: +992 93 011 5555 Tel: +992 00 188 8848 e-mail: ilhom_nozimov@mail.ru e-mail: nuralizoda6446@bk.ru Agency: Administrative and Procurement Support Team under the Ministry of Finance Procurement method: Consultant Qualification Selection Notice type: Request for Expression of Interest Status: Published Value: 180000.0 USD