BUDGET ORIENTATION TRAINING ON INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS (IPSAS)

BUDGET ORIENTATION TRAINING ON INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS (IPSAS)
COURSE CODE: AGT 125

Date: 12^th – 14^th, June, 2019
Venue: Abuja
Duration: 3 Days
Course fee: N250, 000.00

Overview

There is an increasing interest amongst public sector bodies worldwide to produce their financial statements according to International Public Sector Accounting Standards (IPSAS) issued by the IPSAS Board (IPSASB). While some governments are developing their own standards based around IFRS, others are adopting IPSAS as the basis of accounting by their public sector organizations.

This course provides a detailed review of all major technical IPSAS requirements of relevance to public sector entities, especially Committee Members and Staff of the Legislature as they confront budget and budgeting process and the critical Oversight functions in order to ensure transparency and accountability in governance.

The program answers questions such as:

• How can the Legislature check corruption through the adoption of the IPSAS Model in budgeting?
• What is the role of Public Financial Management in budgeting process?
• What areas of accounting do IPSAS cover, which have no IFRS equivalent?
• How can Legislator apply the IPSAS Model in budget cycle?
• What accounting issues covered by IFRS have no equivalent IPSAS?
• What aspects of public accounting are not currently addressed by IPSAS and what proposals are there to address them?
• How are IPSAS financial statement requirements applied to public sector entities, including accounting policies and disclosures?
• What are the rules relating to first-time adoption of IPSAS as compared to IFRS?
• When are assets, liabilities, revenues, and expenses recognized under IPSAS and how are they measured?
• Where are major similarities and differences found between IFRS and IPSAS?
• Summary: Key Learning Points

Who should attend
Legislator, Auditors General, State Accountants Generals, Finance Managers, Permanent Secretaries, Commissioners, etc.

Course Outline

• An appraisal of the role of the Legislative Committees in Budgeting process
• Overview of Public Financial Management
• Introduction to IPSAS, features and relevance
• Scope of IPSAS
• Application of IPSAS in budgeting process
• IPSAS: the Appropriate Standards for State Governments’ systems?
• Accounting on an Accrual Basis

Making a change in the budgeting process through effective scrutiny of public expenditure – the IPSAS Model