Title:Strengthening of Finance and Accounting Systems of Belarus Telecommunication Company
Budget:267,699 EUR
Country:Belarus
Dates: June, 1996 - August, 1998
Partner: none
Funding:EBRD

The Ministry for Telecommunications and Postal services in Belarus separated telecommunication from postal services and in 1996, telecommunication services were moved under Beltelecom. The company consists of 141 entities, some of which are established as legal entities and others are business units.
In 1996, Beltelecom embarked on a major programme, partly financed by a loan from the EBRD to modernise its infrastructure and improve its business systems. As part of this programme, a project was defined in 1996 to undertake a detailed review of the company's existing budgeting, financial management, accounting practices and systems and generate recommendations for improvement.
Corporate Solutions was appointed by Beltelecom to assist it with defining and implementing procedures for the production of International Accounting Standards (IAS) financial statements and design a computerised financial management and accounting system. Our team, including a number of telecommunications experts, carried out a detailed review of the existing practices and systems and implemented improvements in the key areas.
Following the success of this work, Corporate Solutions was awarded a second contract to assist Beltelecom with the preparation of the tender documentation for the selection and procurement of a computerised accounting system.