CONSULTANT (FINANCIAL REPORTING)


Location : New York, UNITED STATES OF AMERICA
Application Deadline :11-Dec-12
Additional CategoryManagement
Type of Contract :Individual Contract
Post Level :International Consultant
Languages Required :
English   French  
Starting Date :
(date when the selected candidate is expected to start)
17-Dec-2012
Duration of Initial Contract :One month
Expected Duration of Assignment :Possible extension based on satisfacotry performance

Background

On 1 January 2012 UNDP adopted International Public Sector Accounting Standards (IPSAS).
 
Under accrual-based accounting transactions and other events are recognized when they occur (and not only when cash or its equivalent is received or paid). Consequently, transactions and events are recorded in the accounting records and recognized in the Financial Statements of the periods to which they relate.
 
As part of the preparation for the first IPSAS Financial Statements, improved management of closing processes and procedures is required. The consultancy is required to support the ongoing process of streamlining the close-to-report cycle, while ensuring quality, control and accountability, thereby ensuring earlier access to financial results.
The new close to report cycle must support the flow of information to support disclosure requirements under IPSAS and establish a closure regime that reduces the volatility in monthly financial data, improve confidence in interim financial information and ensure more timely and accurate information from existing systems to support business decisions.


Duties and Responsibilities

Reporting to the Chief of Accounts and Client Services, the consultant is required to:
  • Establish detailed closing procedures, including due dates, responsibilities, disclosure updates, and accounts classifications.
  • Establish a quality control and accountability plan, including standardized reconciliation processes (which include confirming the balances with third parties and reconciling sub-ledgers with the General Ledger).
  • Ensure that the quality control and accountability plan covers all the areas which are included in the management representation letter issued to the External Auditors,
  • Identify journal entries which are recurring in nature and propose standardization of them.
  • Prepare a checklist of the standard closing journal entries to be recorded at the period-end.
  • Prepare a standard corporate reporting format, to be used by all units/country offices in connection with the close.
  • Establish a clear communication and status tracking process to be used to communicate with all the units/country offices throughout the year and at the time of year-end close.
  • Streamline the cycles by effectively distributing workload and eliminating bottlenecks, redundant tasks and non-value added activities.
  • Prepare working papers and assist with responding to audit queries. Track audit information requests and observations.
  • Streamline the flow of information to support disclosures required under IPSAS.
Expected Outputs:
  • Detailed closing procedures/guidance
  • Quality control and accountability plan (including new assurance procedures for reconciliation)
  • Checklist of the standard closing journal entries
  • Standard corporate reporting format
  • Revised POPP chapter, as required
  • Guidance and training materials, as required
  • Validated 2012 reporting package
  • Revised note disclosures for 2012


Competencies

  • Demonstrates commitment to the mission, vision and values of the UN System.
  • Ability to communicate effectively and diplomatically with agency staff at HQ and across all regions.
  • Experience in preparation of policy and guidance documents.
  • Detailed knowledge of accounting practices, risk management, assurance procedures, and process mapping.
  • High degree of proficiency in MS Excel, Word and PowerPoint.
  • Contributes effectively in team-based activities.
  • Effectively applies existing knowledge to improve performance.
  • Analyzes problems logically leading to fact-based practical recommendations
  • Shares knowledge and experience
  • Good influencing skills and ability to work under tight deadlines.


Required Skills and Experience

Education:
  • Professional accounting qualification from an internationally recognized Institute of Accountancy (ACA/CA/CPA, etc.) or advanced university degree in Finance, Accounting or Business Administration.
Experience:
  • Minimum 5 years of relevant experience in accounting/audit, ideally within an ERP environment.
Languages:
  • Fluency and proficiency in English is required. Fluency in French or Spanish an asset.


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