Consultancy: Preparation of Semi-Annual, Q3, and Annual Financial Statements and IPSAS Reporting for Fiscal Year 2026

1. Background

CIFA is an international non-governmental organization (INGO) with over 40 years of experience in protecting vulnerable children and youth. In Ethiopia, CIFA has been operating for more than 20 years, implementing development and humanitarian programs in Addis Ababa, Dire Dawa, Amhara, Harari, and Oromia regions.

During the fiscal year ending December 31, 2026, CIFA will implement multiple donor-funded projects, including the Italian Agency for Development Cooperation (AICS).”

To strengthen financial reporting and ensure compliance with International Public Sector Accounting Standards (IPSAS), donor requirements, and applicable Ethiopian regulations, CIFA seeks to engage a qualified accounting and consulting firm to record and review all financial transactions in an Accounting Software (for example Peachtree or similar) and prepare IPSAS-compliant annual financial statements for the fiscal year ending December 31, 2026.

2. Purpose of the Assignment

The purpose of this consultancy is to support CIFA in maintaining complete and accurate accounting records for all projects implemented during the period from January 1 to December 31, 2026, through proper recording of financial transactions in Accounting Software and preparation of high-quality IPSAS-compliant annual financial statements.

The assignment also aims to improve the quality of financial reporting, enhance compliance with donor and statutory requirements, and strengthen the capacity of CIFA finance staff in IPSAS-based financial reporting practices.

3. Objective

The objective of this assignment is to:

• Record and reconcile all projects financial transactions in Accounting Software for the period January 1–December 31, 2026.
• Ensure completeness, accuracy, and proper classification of financial records.
• Prepare IPSAS-compliant annual financial statements.
• Support compliance with donor reporting requirements and Ethiopian regulatory obligations.
• Sharing information with relevant unit of CIFA about all the steps starting from the Accounting Software to producing the final financial statement to be submitted to IPSAS.

4. Scope of Work

The selected accounting firm shall undertake the following activities:

A. Accounting Records and Accounting System Posting

• Review all financial records, vouchers, supporting documents, bank statements, payroll records, and donor reports for projects implemented during 2026.
• Record and post all financial transactions for each project into Accounting Software covering the period from January 1 to December 31, 2026.
• Verify the completeness and accuracy of accounting entries and supporting documentation.
• Ensure proper coding and classification of transactions by project, donor, and account category.
• Prepare and reconcile project-wise ledgers and general ledger accounts.

B. Reconciliation and Review

• Perform bank reconciliations for all accounts.
• Reconcile cash balances, advances, receivables, payables, and other balance sheet accounts.
• Review compliance with donor agreements, financial policies, and IPSAS requirements.
• Identify and recommend necessary adjusting entries and corrections.

C. Financial Statement Preparation

Prepare the following IPSAS-compliant financial statements for the fiscal year ending December 31, 2026:

• Statement of Financial Position.
• Statement of Financial Performance (Income and Expenditure Statement).
• Statement of Cash Flows.
• Statement of Changes in Net Assets/Equity.
• Trial Balance.
• General Ledger and Supporting Schedules.
• Notes to the Financial Statements and required disclosures.

D. IPSAS Compliance Review

• Assess the organization’s financial reporting practices against applicable IPSAS requirements.
• Prepare an IPSAS Compliance Review Report highlighting compliance status, gaps, and recommendations for improvement.

E. Reporting and Capacity Building

• Prepare and submit annual, 3rd quarter and final reports during the assignment period.
• Present draft and final financial statements to CIFA management.
• Sharing information with relevant unit of CIFA about all the steps starting from the Accounting Software to producing the final financial statement to be submitted to IPSAS.
• Develop and deliver training on IPSAS-based financial reporting and year-end financial statement preparation.

For More Information’s Please Refer this: –

• CIFA_PC_2026_212 – Local Open Tender for Consultancy – Website alert
• CIFA_PC_2026_212 – ToR

Eligibility Criteria

Interested firms must demonstrate their eligibility by submitting the attached supporting documentation proving:

• Valid TIN number and registration;
• Valid AABE business registration and professional license.
• At least five (5) years of proven experience in accounting, bookkeeping, and financial reporting services.
• Demonstrated experience using Accounting Software (for example Peachtree or similar).
• Proven experience in IPSAS-compliant financial statement preparation.
• Experience working with international NGOs and donor-funded projects.
• Availability of qualified professionals (CPA, ACCA, Chartered Accountant, or equivalent).
• Strong knowledge of Ethiopian accounting, tax, and regulatory requirements.

Under the framework of the project “SECOND LIFE”, funded by the Italian Agency for Development Cooperation (AICS), CIFA ETS is launching a call for experts for the provision of consultancy services for the Fiscal Year 2026.

CIFA intends to engage a qualified accounting and consulting firm to:

• Record and review all financial transactions using accounting software (e.g., Peachtree or equivalent);
• Reconcile accounting records and supporting documentation;
• Prepare IPSAS-compliant Semi-Annual, Q3, and Annual financial statements;
• Conduct IPSAS compliance reviews and produce periodic financial reports;
• Build the capacity of CIFA finance staff on IPSAS-based financial reporting and year-end statement preparation.