In an effort to increase the transparency of operational practices, facilitate better decision-making and improve governance, countries around the world have been adopting IPSAS as their requisite national accounting framework. Here’s PWC’s report on IPSAS adoption in Ghana.
In some countries, such as Nigeria, IFRS and IPSAS have recently been featured increasingly in the news: The Guardian reports that NAICOM insists on IFRS compliance in 2012. And a similar announcement today by the Accountant-General of the Federation.
It is worth noting however, that implementing IPSAS involves more than just a change in how you report your accounts. Because of the many areas that are affected by the changes, a successful IPSAS implementation project requires good change management activities with a strong communications strategy. For example, a comprehensive communication plan, which carefully considers the actions required by, as well as the impact on, internal and external stakeholders, will help to make the process smoother and increase the chances of a timely conversion.
If you would like to learn some of the implementation requirements, as well as the best practices/pitfalls experienced by other organisations and countries, we have an IPSAS course coming up soon in September 2013: IPSAS Implementation Workshop. Book your place today and we’ll show you ways to manage your IPSAS adoption project more effectively.
Some useful links:
National Audit Office: Preparing for Audit University of Illinois: IPSAS and Government Accounting Reform in Developing Countries
Deloitte: IFRS in your pocket Price Waterhouse Coopers: Introduction to IPSAS If you would like other reading recommendations, please feel free to email email@example.com.