Institution: Inter-American Development Bank (IDB)
Country: Republic of Suriname
Project: Fiscal Support Program to Regain Growth (FISREG) SU-L1060
Sector: Reform/modernization of the state-fiscal policy for sustainability and growth
Abstract: International Public Sector Accounting Standards (IPSAS) Consulting Firm for PFM
Loan No.: 5727/OC-SU
Contract No.: SU-L1060-P00068-FISREG-CS-QCBS-004
Deadline: October 15, 2025
The Ministry of Finance and Planning has received financing from the Inter-American Development Bank (IDB)
toward the cost of the Fiscal Support Program to Regain Growth (FISREG), and intends to apply part of the proceeds
for consulting services.
The consulting services (“the Services”) include:
1) Developing the work plan and methodology for the consultancy.
2) Surveying the current public sector accounting framework in Suriname.
3) Preparing an analysis/diagnosis on the current state of implementation, on:
(i) Accounting Policies and Procedures Manual(s)
(ii) existing accounting standards
(iii) The chart of accounts and ability to adjust to proposes basis and addition of public
entities,
(iv) Rules on elimination for consolidation processes of financial statements
4) Analyzing the existing structure of the financial statements issued by the Bookkeeping Department, to
determine the consistency of its structure with IPSAS requirements,
5) Addressing queries and training needs that may arise with the Bookkeeping Department, Ministry of
Finance and others, as indicated by the Ministry of Finance.
6) Identifying the existing gap in public accounting in Suriname regarding IPSAS. For this activity, the
consultant may use or recommend a tool for Suriname to continue conducting the gap analysis internally,
after implementation is complete.
7) Analyzing and evaluating the tools used by the Bookkeeping Department for the collection and processing
of progress information in the implementation of IPSAS, proposing adjustments and improvements,
including the analysis of existing requirements in Suriname’s accounting, fiscal, budget, and statistical
issues which are defined and vital to the process,
8) Advising on the required updates to laws or regulations concerning central government and public sector,
as needed, for implementation of IPSAS.
9) Analyzing the internal structure of the Bookkeeping Department or MOF dedicated to the IPSAS
implementation project and make improvement recommendations.
10) Presenting an action plan for the implementation of IPSAS in Suriname, including related reforms.
11) Examining current software systems in PFM accounting and determine both their use and functionality.
12) Analyzing the ICT merits of service and requirements provided by the software providers.
13) Analyzing systems compatibility and cohesiveness to establish their current functionality.
14) Meeting with users and stakeholders to determine their perspective on functionality.
15) Drafting detailed feedback report on findings, including recommendations that can be applied.
16) Providing findings on the best way to disseminate information among stakeholders concerning IPSAS.
17) Organizing two workshops that will show how IPSAS should be rolled out and integrated into current
practices and workflow processes.
The duration for these Services is six (6) months.
The Program Implementation Unit (PIU) FISREG of the Ministry of Finance and Planning now invites eligible
Consulting Firms to express their interest in providing the requested Services.
Main Requirement for shortlisting of Firms:
Proven Experience in IPSAS Gap Analysis and Implementation Planning:
The consulting firm must demonstrate substantial experience in conducting IPSAS gap analyses and developing
comprehensive implementation action plans for public sector entities. This includes:
- Track record of similar IPSAS Gap Analysis Projects or PFM reform projects, preferably in developing
countries or small economies. - Expertise in evaluating accounting systems for IPSAS compatibility, including chart of accounts, consolidation
methodology, and financial reporting structures. - Capacity to advise on legal and regulatory updates required for IPSAS adoption.
- Experience in stakeholder engagement, including conducting workshops and training for government
departments. - Ability to assess ICT infrastructure and recommend improvements for IPSAS integration.
- Multilingual reporting capability, especially in Dutch and English.
Additional Requirement for shortlisting of firms: - Company Profile & Legal Status to confirm eligibility and institutional capacity
- Relevant Project References to validate experience with IPSAS or similar reforms
- A listing of the Key experts including their technical qualifications for this assignment: The firm should
contain at least the following specialism for this consultancy: – An accountant at MSc level; – A consultant
with a degree in financial management at MSc level; – A consultant with a degree in public administration or
its equivalent at MSc level; – A consultant with a degree in law or its equivalent; – All should have at least 7
years of experience in their respective fields of academics - Availability for field visits to confirm logistical feasibility for Suriname-based work
The selection of consulting firms will be conducted in accordance with the procedures set forth in the Policies for
the Selection and Contracting of Consultants financed by the Inter-American Development Bank GN-2350-15
and is open to all eligible bidders as defined in the policies.
Consulting firms may associate with other firms in the form of a Joint Venture or may engage subconsultants to
enhance their qualifications. For the purpose of establishing the shortlist, the nationality of a firm shall be
determined by the country in which it is legally incorporated. In the case of a Joint Venture, the nationality of the
firm appointed as the representative shall apply.
A Firms will be selected in accordance with the “Quality-and Cost-Based Selection (QCBS)” method set out in the
Consulting Policies.
Interested Firms may obtain further information by sending an inquiry via e-mail to the e-mail address:
[email protected]
Expressions of interest must be submitted in writing to the e-mail address indicated below, no later than October
15, 2025, before 14:00 hrs. Suriname Time (SRT).
Program Implementation Unit FISREG
Attn: Winston Roseval, Program Manager FISREG
Watermolenstraat 50-52 1st Floor
Paramaribo, Suriname
Tel: +597 470064/470065
E-mail: [email protected]