International Public Sector Accounting Standards (IPSAS)

About the Course

Governments and public institutions are under growing pressure to enhance transparency, accountability, and financial integrity in their operations. Implementing IPSAS helps establish a standardised approach to financial reporting, ensuring accuracy and consistency across public sector entities. By aligning with international accounting standards, organisations can improve stakeholder confidence and facilitate better financial decision-making. IPSAS adoption also enhances comparability between different jurisdictions, promoting trust in public sector financial management. Ultimately, adhering to these standards strengthens fiscal discipline and reinforces the credibility of financial statements.

This 5-day comprehensive International Public Sector Accounting Standards (IPSAS) training course equips delegates with the knowledge and skills needed for high-quality financial reporting in the public sector. It provides a structured approach to understanding IPSAS principles, framework, and application to ensure compliance with global standards. Delegates will learn key aspects of IPSAS implementation, financial performance measurement, and consolidation to support effective decision-making. It also addresses practical challenges in IPSAS adoption, offering strategies for a smooth transition from national accounting practices. They will be prepared to enhance transparency, fiscal discipline, and accountability in public sector financial management.

Core Objectives

The delegates will achieve the following objectives:

• Identify the key principles, framework, and objectives of International Public Sector Accounting Standards (IPSAS)
• Explain the significance of IPSAS in enhancing financial transparency, accountability, and comparability in the public sector
• Implement IPSAS standards in financial reporting, budgeting, and consolidation processes within public sector entities
• Examine financial statements prepared under IPSAS to assess compliance, accuracy, and performance
• Assess the impact of IPSAS adoption on financial decision-making, governance, and resource management
• Develop structured financial reports and policies aligned with IPSAS requirements for improved fiscal discipline
• Adapt IPSAS principles into existing national accounting frameworks to facilitate smooth adoption and transition

Training Approach

This training program utilises a combination of interactive lectures, group discussions, and practical exercises to enhance delegates’ understanding of IPSAS. Real-world scenarios and case-based learning approaches will be incorporated to help them apply IPSAS principles effectively in public sector financial reporting. Hands-on activities and guided analysis of IPSAS-compliant financial statements will ensure delegates gain practical skills for immediate implementation.

The Attendees

This training course is designed for professionals responsible for financial reporting, auditing, and compliance in public sector organisations, including accountants, auditors, and finance managers.

It will be highly valuable to professionals, including but not limited to the following:

• Public Sector Accountants
• Government Finance Managers
• Auditors and Compliance Officers
• Budget and Treasury Officials
• Financial Controllers in Public Institutions

Daily Discussion

DAY ONE: OVERVIEW AND STRUCTURE OF IPSASB AND IPSAS STANDARDS

• Introduction to IPSASB: Role and Objectives
• Governance and Oversight of IPSASB
• IPSAS Framework – The Key Components
• IPSAS Development Process
• International Influence on IPSAS Standards
• Relationship Between IPSAS and National Standards

DAY TWO: IN-DEPTH EXPLORATION OF IPSAS STANDARDS

• IPSAS 1: Presentation of Financial Statements
• IPSAS 3: Accounting Policies, Changes in Accounting Estimates and Errors
• IPSAS 6: Consolidated and Separate Financial Statements
• IPSAS 9: Revenue from Exchange Transactions
• IPSAS 13: Treatment of Public Sector Leases
• Differences Between IPSAS and IFRS

DAY THREE: UNDERSTANDING IPSAS AND FINANCIAL PERFORMANCE MEASUREMENT

• IPSAS 16: Investment Property
• IPSAS 23: Revenue from Non-Exchange Transactions (Taxes and Transfers)
• IPSAS 24: Standards and Presentation of Budget Information
• IPSAS 29: Financial Instruments – Debt and Equity
• Performance Indicators: Establishing Metrics and Benchmarks
• Comprehensive Reporting Financial Statements

DAY FOUR: CONSOLIDATION IN THE PUBLIC SECTOR UNDER IPSAS

• IPSAS 6: Consolidated and Separate Financial Statements
• IPSAS 34: Separate Financial Statements
• IPSAS 35: Consolidated Financial Statements
• Criteria for Consolidation of Public Sector Entities
• Reporting Consolidated Financial Statements
• National and International Consolidation Best Practices

DAY FIVE: IMPLEMENTATION OF CASH BASIS IPSAS AND FIRST-TIME ADOPTION

• IPSAS 22: Disclosure of Financial Information about the General Government Sector
• IPSAS 33: First-Time Adoption of Accrual Basis IPSAS
• Introduction to Cash Basis IPSAS
• Cash Basis IPSAS Implementation
• First-Time Adoption: Comparative Financial Statements and Disclosures
• Case Studies: Successful Adoption of IPSAS and Cash Basis IPSAS