Agenda
         1  IPSAS
         2  Detailed IPSAS
            International Atomic Energy Agency 
         3  Financial Reporting
                Public Sector Accounting Standard
          Concern about quality/variability of 
             governmental financial reporting
                lack of transparency/completeness
                not timely
          Necessary element in strengthening the 
             governance framework and enhancing 
             transparency
          Set appropriate minimum benchmarks
                     - for discharge of accountability
                     - transparency
          Provide framework against which audit is 
             undertaken
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         Public Sector Accounting Standard
      Basis for more efficiency in analysis
        - international lending agencies
        - capital markets
      Basis for domestic standards 
        -  (cost efficient approach)
      Mobility in financial reporting expertise
      Improved information for managers
      Underlying philosophy:
        promote adoption of an accrual basis
        acknowledge wide use of cash basis and develop a Cash Basis Standard
        guidance on transition to accrual basis
        adopt a “Due Process” 
        involve the financial reporting, budget, GFS community at least 4 months exposure for 
        comment)
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                                             IPSAS
      IPSAS                                                                           Bases
      IPSAS 1      Presentation of Financial Statements                               IAS 1
      IPSAS 2      Cash Flow Statements                                               IAS 7
      IPSAS 3      Net Surplus or Deficit for the Period, Fundamental Errors and      IAS 8
                   Changes in Accounting Policies
      IPSAS 4      The Effects of Changes in Foreign Exchange                         IAS 21
      IPSAS 5      Borrowing Costs                                                    IAS 23
      IPSAS 6      Consolidated Financial Statements and Accounting for               IAS 27
                   Controlled Entities 
      IPSAS 7      Accounting for Investments in Associates                           IAS 28
      IPSAS 8      Financial reporting of Interests in Joint Ventures                 IAS 31
      IPSAS 9      Revenue from Exchange Transactions                                 IAS 18
      IPSAS 10     Financial Reporting in Hyperinflationary Economies                 IAS 29
      IPSAS 11     Construction Contracts                                             IAS 11
      IPSAS 12     Inventories                                                        IAS 2
      IPSAS 13     Leases                                                             IAS 17
                                         IPSAS
     IPSAS                                                                     Bases
     IPSAS 14     Events After the Reporting Date                              IAS 10
     IPSAS 15     Financial Instruments:  Disclosure and Presentation          IAS 32
     IPSAS 16     Investment Property                                          IAS 40
     IPSAS 17     Property, Plant and Equipment                                IAS 16
     IPSAS 18     Segment Reporting                                            IAS 14
     IPSAS 19     Provisions, Contingent Liabilities and Contingent Assets     IAS 37
     IPSAS 20     Related Party Disclosures                                    IAS 24
     IPSAS 21     Impairment of Non-Cash Generating Assets                     IAS 36
     IPSAS 22     Disclosure of Financial Information About the General        -
                  Government Sector
     IPSAS 23     Revenue from Non-Exchange Transactions (Taxes and Transfers) -
     IPSAS 24     Presentation of Budget Information in Financial Statements   IAS 36
     IPSAS 25     Employee Benefits                                            IAS 19
     IPSAS 26     Impairment of Cash-Generating Assets                         IAS 36