COURSE OBJECTIVES
By the end of this program, participants will be able to:
- Explore the foundational principles of IPSAS in public sector accounting.
- Understand the global significance of IPSAS.
- Utilise the IPSAS financial reporting framework to enhance transparency.
- Apply IPSAS principles to improve accountability in financial reporting.
- Navigate the implementation process of IPSAS within public sector organisations.
- Align budgetary processes with IPSAS guidelines for better financial management.
- Strengthen financial management practices through the application of IPSAS principles.
Targeted Audience
- Government officials responsible for financial management.
- Accounting professionals working in public sector organisations.
- Financial managers in municipalities.
- Financial managers in public agencies.
- Auditors in public sector entities.
- Compliance officers in public sector organisations.
- Stakeholders involved in public financial oversight and accountability.
DAY 1: Introduction to IPSAS
- Overview of IPSAS and its significance in public sector accounting.
- Historical context and worldwide adoption of IPSAS.
- Core principles and concepts that form the foundation of IPSAS.
- Structure and framework of IPSAS standards.
- Importance of IPSAS compliance for public sector entities.
DAY 2: IPSAS Financial Reporting Framework
- Elements and organisation of IPSAS financial statements.
- Criteria for recognition and measurement of assets, liabilities, revenues, and expenses.
- Presentation and disclosure obligations in IPSAS financial statements.
- Influence of IPSAS on financial transparency.
- Influence of IPSAS on accountability.
DAY 3: Implementation of IPSAS
- Steps to implement IPSAS within public sector organisations.
- Obstacles and factors to consider during the transition to IPSAS.
- Approaches to align financial systems with IPSAS standards.
- Significance of training and capacity-building programs for IPSAS implementation.
- Monitoring and evaluation methods to ensure compliance with IPSAS.
DAY 4: IPSAS and Budgeting
- Methods for integrating IPSAS with public sector budgeting processes.
- Criteria for budget preparation and presentation following IPSAS guidelines.
- Budgetary control and financial management practices in line with IPSAS.
- Reporting on budget implementation.
- Variance analysis in accordance with IPSAS.
DAY 5: IPSAS and Financial Management
- IPSAS principles related to financial management and internal controls.
- Considerations for risk management and internal audits under IPSAS.
- Asset management and accounting for capital projects in compliance with IPSAS.
- Revenue recognition standards.
- Taxation matters in the public sector under IPSAS.
