International Public Sector Accounting Standards (IPSAS) for Accountants and Auditors

• Impact on financial processes and systems
• How to formulate a documented action plan
• The Technical Bases
• Links and implications to and for broader strategies: Financial Management, Taxation, Asset Management, Governance and accountability
• The Standards
• Financial reporting
• Satisfying donor & stakeholder requirements
• Implications for Internal and External Audit
• How to manage substantial financial resources
• How to develop skills to aid implementation, capacity development, benefits realization and risk management plans

CONTENT:

Introduction to IPSAS

• Introduction
• The Conceptual Basis of Government Accounting
• Reporting on the full cash basis (IPSAS statement: Financial Reporting under the Cash Basis of Accounting)
• Progress towards accrual accounting
• Financial reporting
• Auditing

Specific IPSAS Rules

• Payables & Expenses
• Inventories
• Intangible Assets
• Provisions, Contingent Liabilities and Contingent Assets
• Pre-Financing
• Cash Basis
• Accrual Basis
• Interpretation of GPFS
• The Impact of IPSAS on auditors and internal control system
• The Role of ICT

Why the need for IPSAS

• Why IPSAS
• Stewardship
• Public sector Accounting
• Introduction to IPSAS standards
• Accrual vs Cash accounting

Implementation of IPSAS

• Transition from Cash to Accrual Accounting by Governments
• IPSAS IMPLEMENTATION – ISSUES AND IMPACT
• The Standards
• The Unified chart of accounts
• Budgeting with IPSAS
• Benefits of adopting IPSAS
• Financial statements
• Revenues & Receivables

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.