The financial and sovereign debt crises have brought to light, as never before, the need for better financial reporting by governments worldwide, and the need for improvements in the management of public sector resources. Citizens are directly affected by a government’s financial management 
decisions. Strong and transparent financial reporting has the potential to improve public sector decision making and make governments more accountable to their constituents. The failure of governments to manage their finances has in the past, and could again in the future, have dramatic consequences such as loss of democratic control, social unrest, and the failure of governments to meet their commitments today and in the future.
Since 1997, the IPSASB has developed and issued a suite of 31 accrual standards, and a cash-basis standard for countries moving toward full accrual accounting. Governments that report on a cash-basis do not account for significant liabilities, such as pensions and infrastructure development; as a result, the IPSASB encourages public sector entities to adopt the accrual basis of accounting—which will improve financial management and increase transparency resulting in a more comprehensive and accurate view of a government’s financial position. Many governments, jurisdictions, and international institutions have already adopted IPSASs—many more are on the road to implementing the standards.
To help make this transition to new accounting standards, you need a partner and a game plan to ease your journey. You need IPSAS PARTNER.
The global, leading software solution to assist Governments in the conversion to IPSAS
IPSAS PARTNER is the leading solution worldwide to help Governments and International Organizations move to IPSAS. IPSAS PARTNER is designed to reduce the cost, time and risk associated with making the transition to IPSAS and then to provide ongoing IPSAS compliant financial reporting.
IPSAS PARTNER is a comprehensive, step-by-step product approach, with supporting services, to help you coordinate the change to IPSAS in manageable phases.
The IPSAS PARTNER methodology is as follows:
- Phase 1 – Capacity Building and Training Workshops
- Phase 2 - Preliminary Plan and Scoping
- Phase 3 - Detailed Assessment, Conversion Planning and Development
- Phase 4 - Implementation and Parallel Reporting
- Phase 5 - Live IPSAS Operating Processes, Ongoing Monitoring, New Standards Changes