Draft your IPSAS Policies and Evaluate Policy Impacts with IPSAS PARTNER
IPSAS has the potential to cause significant change for your organization in terms of financial measures, qualitative issues and business processes. IPSAS PARTNER helps you get to the detail needed to determine the impact of IPSAS policies on your organization and helps you to substantiate your transition decision making.
Pre-Formatted IPSAS Policies and across all IPSAS Standards
The drafting of IPSAS policies is fundamental to the evaluation of the impact of IPSAS on your organization. IPSAS PARTNER comes with policy content and guidance, under license from the IFAC, to help you understand what policy elements must be evaluated. These policies elements can be quickly tailored to your requirements. An additional benefits derived from the definition of your formal IPSAS policies is the need to discuss any changes in your MD&A documentation to stakeholders. Moreover formal policies provide greater consistency and clearer understanding for staff to ensure improved internal controls.
Impact Assessment Guidance and Evaluation Tools
IPSAS PARTNER provides comprehensive guidance and evaluation tools across all IPSAS standards to help you quickly identify and document issues and actions that must be addressed. Each evaluation template takes you through a structured approach to evaluate IPSAS policy impacts in the areas of financial measurements, disclosures, systems and data, internal controls, and business activities. As you work through each template you can identify impact ratings, responsibilities, due dates, attach notes and calculation templates, and more. In effect, IPSAS PARTNER acts as your guide through each standard and helps you address the standards impact on your organization across each evaluation criteria and policy element. IPSAS PARTNER keeps you organized so that you can document and backup your IPSAS decisions and transition process. So, whether you are looking at IPSAS 17 Property, Plant & Equipment, or IAS 39 Financial Instruments, or any of other IPSAS standards that apply to your organization you are covered by IPSAS PARTNER. So, when someone asks you about your IPSAS transition, IPSAS PARTNER helps you to clearly demonstrate care and due diligence in your IPSAS transition activities.
Impact Assessment Reporting for Project Management and Audit Committee Reporting
As you move through your impact assessment activities you will want to provide various forms of report and status information to keep your project team, senior management, audit committee and external auditor up-to-date on your transition progress. IPSAS PARTNER makes it easy for you to capture key actions and issues associated with your evaluation and then provide both graphical summary and detailed drilldown reports. You can run GANTT charts showing key actions and resolutions needed for each IPSAS standard, or perhaps you would like to provide charts outlining the severity of the IPSAS policy change impacts across various business metrics and activities. This can all be undertaken with IPSAS PARTNER and much more. Creat flexible reporting profiles so that you can send the appropriate level of information to your transition stakeholders. Stay in command with IPSAS PARTNER.
Once You Have Finalized Policies and Impacts It’s Time To Create IPSAS Compliant Financials
The completion of the draft IPSAS policies and impact assessments you are ready to implement required changes and move onto the creation of IPSAS financials with current reporting comparatives and supporting IPSAS disclosures. IPSAS PARTNER makes it easy to move onto the number and the notes. Let the fun begin! Just kidding sometimes we get carried away – after all this is accounting.
To learn more about this next phase click below to go learn more:
Go to the IPSAS Financial Reporting – Financial Statements and Notes Manager page, or
Use the index at the left to navigate throughout the IPSAS PARTNER website