Explaining international public sector accounting standards
IPSAS Explained is the most comprehensive guide to the new International Public Sector Accountancy Standards (IPSAS).
LONDON 5 October 2009 ─ The global financial crisis has demonstrated that the public sector as well as the private sector needs the highest quality accounting standards. Around the world, accounting in the public sector is practiced in diverse ways and struggles to achieve comparable standards in terms of accountability and transparency. IPSAS Explained a new guidebook released today by Ernst & Young and published by Wiley is the most comprehensive overview of the key global issues.
IPSAS will help by presenting an accurate and fair view of governments’ and supranational organizations’ fiscal position, financial performance and cash flows. This will allow governments and supranational organizations to provide standardized and comparable information from across the public sector. As a result, citizens will have access to fuller information about the financial consequences of political decisions, as well as about the financial situation of their government.
Thomas Müller-Marqués Berger, author and global head of International Public Sector Accounting at Ernst & Young, comments: “We are finally in sight of a globally recognized common accounting and financial reporting language for the public sector. As well as being a practical guide to IPSAS and the International Public Sector Accounting Standards Board, this book also contains a timely analysis of the implications of the current financial crisis on public sector accounting. It is essential reading for anyone applying, auditing, interpreting, regulating, studying and teaching financial reporting in the public sector.”
IPSAS Explained is not biased towards any individual country’s legislation or financial reporting regulations. It contains:
- The history, the scope and authority of IPSAS.
- An overview of the principles of key topics such as the accrual basis and the cash basis of accounting.
- A detailed description of the structure and aims of the International Public Sector Accounting Standards Board.
- A guide to each international public sector accounting standard.
Notes to Editors
IPSAS Explained gives an overview of international financial reporting for the public sector and is published by John Wiley & Sons on Monday 28th September, priced UK £39.99, €45.00, US$65.00
According to an overview provided by the IPSAS-board there are more than 80 countries applying IPSAS or IPSAS-like standards accounting standards, including Algeria, Argentina, Australia, Austria, Brazil, Canada, China, East and Southern Africa, France, Hungary, India, Indonesia, Israel, Italy, Japan, Latvia, Lithuania, Netherlands, New Zealand, Norway, Pakistan, Peru, Romania, Russia, Saudi Arabia, South Africa, Spain, Switzerland, Turkey, Ukraine, UK, USA, Uruguay.
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