Senior US GASB Financial Reporting & Capacity Building Advisor

FEDERATED STATES OF MICRONESIA REQUEST FOR EXPRESSIONS OF INTEREST Country Federated States of Micronesia

Project Project for Strengthening Public Financial Management II (P181237)

Project Implementing Agency / Client Department of Finance and Administration (DOFA)

Assignment Title Senior US GASB Financial Reporting and Capacity Building Advisor

Selection Method Open International

Contract Type Time Based

Reference No. FM-DOFA-560339-CS-INDV

Credit/Grant No. IDA-E4120

Date of Advertisement October 16, 2026

Deadline for Submission October 31, 2026

The Government of The Federated States of Micronesia (FSM) has received financing from the World Bank toward the cost of the Strengthening Public Financial Management II Project (P181237) and intends to apply part of the proceeds for consulting services.

The consulting services (“the Services”) involve providing full-time technical advisory and capacity-building support under Component 1 – Improved PFM Practices and Controls, Subcomponent 1.1 – Strengthening Budgeting and Reporting Practices of the PFM II Project.

The Senior US GASB Financial Reporting and Capacity Building Advisor will support the Government in strengthening accounting policies, financial reporting procedures, the Government Chart of Accounts, and institutional capacity to prepare financial statements in accordance with applicable United States Governmental Accounting Standards Board (US GASB) requirements. The assignment will focus on improving the consistency and quality of financial reporting across the National Government and the four State Governments, strengthening in-house capacity to prepare financial statements, and progressively establishing the foundations for consolidated Whole-of-Government financial reporting.

The key responsibilities will include, but not be limited to: Review and strengthen government accounting policies, procedures, and financial reporting frameworks to support compliance with applicable US GASB requirements. Develop standardized financial reporting manuals, year-end procedures, financial statement templates, working papers, disclosure templates, and supporting schedules. Review the Government Chart of Accounts and recommend improvements to account classifications and alignment between FMIS outputs and financial reporting requirements. Provide technical advice, mentoring, coaching, and training to National and State Government accounting personnel to strengthen in-house preparation of financial statements. Support implementation of financial statement review recommendations and progress toward the PFM II Results Framework indicators for National Government and consolidated financial statements. Assess consolidation arrangements and develop a roadmap for progressive implementation of consolidated Whole-of-Government financial reporting. Develop capacity-building and knowledge-transfer arrangements to strengthen institutional sustainability and reduce long-term reliance on external technical assistance.

The assignment will be based in Palikir, Pohnpei, Federated States of Micronesia , with travel to the four State Governments as required. The assignment is expected to be full-time for twenty-four (24) months , with an anticipated start date as soon as possible, subject to completion of the selection and contracting process.

The detailed Terms of Reference (TOR) for the assignment can be found at the Department of Finance and Administration website: https://dofa.gov.fm , as part of this REOI, or can be obtained at the address given below.

The Department of Finance and Administration now invites eligible individuals (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. Consultants should submit a Curriculum Vitae (CV) describing their qualifications, professional experience, experience in similar assignments and relevant experience in similar institutional or country contexts together with a cover letter outlining their interest in the assignment and suitability for the position.

The criteria for selecting the Consultant are:

Mandatory Requirements:

The Consultant shall possess:

Academic and Professional Qualifications: A Master's degree in Accounting, Finance, Public Financial Management, Economics, or a related field from a recognized university, and a professional accounting qualification such as CPA, CA, ACCA, or equivalent. Public Sector Financial Reporting Experience: A minimum of fifteen (15) years of experience in public sector financial reporting, including demonstrated experience in applying US GASB standards and supporting the preparation of government financial statements. Technical and Capacity-Building Experience: Demonstrated experience in developing accounting policies, procedures, and financial reporting frameworks, and designing and delivering capacity-building programs for government accounting personnel.

Desirable:

Government-Wide Financial Reporting Reforms: Experience supporting government-wide financial reporting reforms.

FMIS-Enabled Financial Reporting: Experience supporting implementation of FMIS-enabled financial reporting.

Consolidated Government Financial Reporting: Experience supporting the preparation of consolidated government financial statements and the development of Whole-of-Government financial reporting arrangements.

Small Island Developing States (SIDS): Experience working with Small Island Developing States (SIDS).

The attention of interested Consultants is drawn to paragraphs 3.14, 3.16 and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers, Seventh Edition, September 2025 (“the Regulations”), setting forth the World Bank’s policy on conflict of interest.

Further information can be obtained at the address below during office hours 08:00 to 17:00 hours, Pohnpei Time. Expressions of interest must be delive