IPSAS Implementation

International Public Sector Accounting Standards (IPSAS) are a set of accounting standards issued by the IPSAS Board for use by public sector entities around the world in the preparation of financial statements. IPSAS are accounting standards for application by national governments, regional, governments, local governments, and related governmental entities. IPSAS standards are widely used by intergovernmental organizations or institutions.

We provide the 5 steps strategy of IFRS implementation.

1. Analysis of Gaps between IFSAS and previous GAAP.
2. Presenting the impact of IPSAS
3. Incorporation of changes in Financials
4. Training to employees 5. Integration of IPSAS into the day to day activities.

International Financial Reporting Standards (IFRS) is the basis required for financial reporting. It is the framework as per which we will organize and lay down your financial report/information. Public companies are required to implement this framework while disclosing financial reports.

An entity that prepares and presents financial statements under the accrual basis of accounting should apply this standard for all types of financial instruments