International Public Sector Accounting Standards (IPSAS) Made Simple By Dr RA Adams (FCA)

For more than 20 years, the International Public Sector Accounting Standards Board (IPSASB) (and its predecessor body, the Public Sector Committee) has developed accounting standards specifically for the public sector. International Public Sector Accounting Standards (IPSAS) are high-quality accounting standards, which are intended to facilitate credible, high-quality financial reporting that is transparent and allows users the ability to hold governments and other public-sector entities to account. Over 80 countries, along with many international organizations, including the UN System Organizations, have adopted, or are in the process of adopting, IPSAS, either directly or indirectly. In its Strategy and Work Plan 2019–2023 – Delivering Global Standards, Inspiring Implementation, the IPSASB overarching objective is Strengthening Public Financial Management globally through increasing adoption of accrued-based IPSAS.