International Public Sector Accounting Standards (IPSAS)

• Delegates who have a good basic knowledge of finance principles and who are looking for best practice and structured ways of achieving leading edge strategic delivery both in planning and implementation of IPSAS.

Course objectives

• To understand the role and purpose of IPSAS
• To effectively scope and plan IPSAS adoption/migration strategies
• To manage implementation throughout all financial functions in a structured way whilst still maintaining the financial management system
• To effectively engage with key stakeholders
• To ensure audit teams are fully prepared
• To effectively achieve IPSAS Compliance

Course content

Key principles of Global Accounting Standards

• The background and development of global accounting standards
• Underlying financial principles
• Disclosure and transparency aspects
• The current global adoption of global accounting standards
• Key organisational benefits
• Global best practice

Effective Implementation Strategy

• The Strategic planning process roadmap
• Mapping regional standards to global accounting standards
• Resource planning
• Scoping dual reporting
• Financial function migration – phasing and specific functional challenges
• Strategy sense checks

The IPSAS Standards

• Review of current IPSAS Standards
• The correct application of individual IPSAS Standards
• Overcoming key challenges
• Obtaining guidance & support from IFAC
• Case study – Review and Analysis

Preparation of IPSAS Compliant Financial Statements

• Key IPSAS Requirements within financial statements
• Producing the Statement of Financial Position
• Producing the Statement of Financial Performance
• Producing the Cash flow Statement
• Reporting changes in nett asset position
• Producing compliant notes to the accounts

Bringing it all together

• Practical instructor facilitated half day session where delegates will develop IPSAS implementation project plans specific to their organisation, utilizing the learning from the previous 4 days