International Public Sector Accounting Standards, IPSASs Workshop: 3rd & 4th June 2010

You pay taxes to government, a budget is read every year and you want a report on how the money was spend. Public sector accounting is an initiative that is intended to see increased accountability in the public sector.

The IPSAS Board goal is to serve the public interest by developing high quality accounting standards for use by public sector entities around the world in the preparation of general purpose financial statements. Quality and transparency of public sector financial reporting and strength of public confidence in public sector financial management are the intended end results. In pursuit of this objective, the IPSAS Board supports the convergence of international and national public sector accounting standards and the convergence of accounting and statistical bases of financial reporting where appropriate.

A number of countries have transformed their accounting systems to accrual accounting based on IPSASs. Several other countries have adopted the Cash-Basis IPSAS as a first step to future full accrual accounting based on the IPSASs. The European Commission, the International Federation of Accountants (IFAC), and the Organisation for Economic Co-Operation and Development (OECD) are now using IPSASs. The United Nations (including all their agencies) are currently making the transition to IPSASs.

In Kenya, the local government has already made steps towards adopting International Public Sector Accounting Standards (IPSAS). Central government is working on the same. Rwanda has taken the lead regionally by adopting IPSASs.

ICPAK has organized this two day Workshop on International Public Sector Accounting Standards (IPSASs) to address the following:

• Why Accountability for Development
• The case for public financial management
• Cash and Accrual basis Accounting
• Overview of the applicable standards
• What are the current and likely future requirements of IPSASs?
• How have the IPSASs recently changed?
• What are recommendations for transitioning from the cash to the accrual basis of accounting?
• Where can guidance on IPSASs be found?
• What practical issues commonly arise when implementing IPSASs?

The IPSASs Seminar will gather together various stakeholders to illustrate why the objective for financial reporting practices in public entities should demonstrate Transparency, Accountability and Governance.

The two day workshop on the International Public Sector Accounting Standards will be held on the 3rd & 4th June 2010 at the Panafric Hotel, Nairobi from 8.30 am to 4.00 pm. Charges for the Workshop are Kshs 9,900 and Kshs.22, 800 for members and non-members respectively to cover the costs of materials, refreshments, lunch and facilitation. 15CPD hours will be awarded.