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International Public Sector Accounting Standards (IPSAS)

International Public Sector Accounting Standards (IPSAS). Thomas Müller-Marqués Berger IPSASB Member The Exchange, Abu Dhabi 13 May 2013. Agenda. The IPSASB’s Work Program Overview of IPSASB’s Current Projects Challenges of an IPSAS Implementation. The IPSASB’s Work Program.

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International Public Sector Accounting Standards (IPSAS)

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  1. International Public Sector Accounting Standards (IPSAS) Thomas Müller-Marqués Berger IPSASB Member The Exchange, Abu Dhabi 13 May 2013

  2. Agenda • The IPSASB’s Work Program • Overview of IPSASB’s Current Projects • Challenges of an IPSAS Implementation

  3. The IPSASB’s Work Program Overviewofthe Development ofIPSASB‘s Work Program Phase 1(1997-2002) • Through financial support of international institutionsdevelopment of a first set of accounting standards (“Core Set”: IPSAS 1 – IPSAS 20) Phase 2 (2003-2010) • Where relevant for the public sector, convergence with IAS/IFRS as of 31.12.2008 was achieved • Issuance of first standards to specific issuesof the public sector (IPSAS 21 – IPSAS 24) Phase 3 (since 2010) • Development of a Conceptual Framework for the public sector • Focus on specific issues of the public sector as well as furtherdevelopment of existing standards (IFRSs convergence) Current work program of the IPSASB

  4. Work Program of the IPSASB • Conceptual Framework • First Time Adoption • Service Performance Reporting • FSD&A • Long-Term Sustainability • Update of IPSAS 6 to 8 and Public Sector Combinations • GBEs • GFS Alignment • Relevant Issues • Public sector specifics • Conversion to accrual-based systems • Output-orientation • Intergenerational Equity • Need for whole-of-government perspective • Restructuring to increase efficiency • Harmonization with GFS The IPSASB’s Work Program Relevant Issuesand Work Program ofthe IPSASB

  5. Overview of IPSASB’s Current Projects Structured Project Overview General Purpose Financial Reports GPFS Framework RPG Phase I IPSAS IPSAS LTFS FSD&A Phases II-IV ED ED PSC GFS Alignment SPR CP CP First Time Adoption Revision IPSAS 6-8, GBE Research Research

  6. Overview of IPSASB’s Current Projects Conceptual Framework Project (2) IPSASs and RPGs • Phase 1 • Role • Objectivesand Users • QCs • Reporting Entity • Phase 2 • Elements and Recognition • Phase 3 • Measure-ment • Phase 4 • Presenta-tion Public SectorConceptual Framework

  7. Overview of IPSASB’s Current Projects Conceptual Framework Project (1)

  8. Overview of IPSASB’s Current Projects The Current Agenda Schedule 2013/2014

  9. Challenges of an IPSAS Implementation An IPSAS implementation can be challenging – and much depends on where you start from! IPSAS-Compliance Non-IPSAS-Compliance Cash Basis (Modified) Cash Basis Cash Basis Cash Basis Accrual Basis Accrual Basis Accrual Basis (Modified) Accrual Basis

  10. Process Changes in Presentation New Valuation Rules IPSAS Conversion Organization Technology Additional Disclosure Requirements ERP Environment Financial Systems Architecture Challenges of an IPSAS Implementation Conversion Impact and ChallengesConversion scope/content • Main Challenges • Political/Executive support • Legal framework • Accrual accounting know how/capacity building • Staff capacities for reform • IT/ERP system implementation • Impact of reform on organisation, i.e. changes to processes and systems • Registration and measurement of assets and liabilities/opening balance sheet IPSAS conversion will impact all levels of accounting in a government! IPSAS conversions will impact several areas outside of the accounting function! A top level conversion to IPSAS may not be sufficient!

  11. Thank you for your attention.

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