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The International Public Sector Accounting Standards Board® (IPSASB®) develops International Public Sector Accounting StandardsTM (IPSASsTM), accrual-based standards used for the preparation of general purpose financial statements by governments and other public sector entities around the world. Through these standards, the IPSASB aims to enhance the quality, consistency, and transparency of public sector financial reporting worldwide. The IPSASB also issues guidance and facilitates the exchange of information among accountants and others who work in the public sector and promotes the acceptance of and international convergence to IPSASs. The IPSASB’s "A Closer Look" series explores individual governments and the challenges and benefits each has faced in adopting accrual accounting and IPSASs.
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Fact Sheet: IPSASs and New Zealand Not-for-Profits
New Zealand recently adopted accounting standards that apply to both public sector and private not-for-profit entities - Public Benefit Entities (PBEs) - based on International Public Sector Accounting Standards (IPSASs). This fact sheet outlines the major matters considered in applying IPSASs to private not-for-profit entities.
IPSAS: The Greek Elephant in the Room
In Public Finance International, current CIPFA International chair and former IFAC CEO Ian Ball writes of the consequences of the Greek government’s failure to adopt international accounting standards.
Emilita L. Villanueva
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