Accountability in higher education will become more transparent

By "smart" system FARABI Azerbaijan Finance Ministry will join in this year, 35 public and private universities, which will allow the financial statements in this field make it more transparent.

This will be possible after the installation of equipment and software for the system. So far, the ministry announced tender under the World Bank project "Reporting in the corporate and public sector (CAP / SAP)".

Under the terms of the competition, the average annual turnover of the company - the applicant should not be less than $ 40 million, it should have experience of at least two similar projects in the last five years, the size of each of at least $ 1 million an important condition - the presence of human resources for the job. RFPs are up to 12 March. Then there will be a tender procedure. State fee for participation in the tender is 160 manat ($ 200).

FARABI system will be based on Web technologies and include components of SERP for management accounting and financial reporting (includes modules "Accounting", "ledger", "Accounting personnel", "Fixed Assets", "Payroll", "Financial Statements "), Oracle BI for analytical reporting, Clix LMS, designed to control the users of the system training courses FARABI.

As previously reported, the Board of Directors of the World Bank in March 2008, Azerbaijan approved a loan of $ 11 million for the project "reporting in the corporate and private sectors" (CAPSAP). The project will improve the accounting system in the corporate and public sectors, the transition to IFRS. The loan conditions of the International Development Association for 35 years with 10 years grace period.

The total project cost is U.S. $ 24 million including World Bank's loan and also additional $ 8 million provided by the government of Azerbaijan, $ 3 million as grant from the government of Japan, and $ 2 million as grant of the Swiss State Secretariat for Economic Affairs (SECO). - 17D-