IPSAS TRANSITION SERVICES

IPSAS Transition Services – Move from your current reporting to IPSAS Rapidly and Affordably

The IPSAS PARTNER product has been designed to help you significantly lessen your requirements for scarce and expensive, external IPSAS consulting support. This reduces your costs and improves overall ownership by your team with respect to the transition to IPSAS.

However, we also recognize that every organization is different in terms of staffing, resources and experience with respect to IPSAS and your current reporting considerations and transition issues. To meet your needs every IPSAS PARTNER can pick from our various IPSAS Transition Service programs that vary from lean to extensive.

Working with our Services team and the IPSAS PARTNER product, a motivated and well-organized customer can complete the essentials of their IPSAS transition in a timeframe ranging from ten weeks to eighteen weeks.

We are able to help you complete your IPSAS transition project with timeframes and costs that are dramatically reduced compared to traditional consulting time and materials engagements. IPSAS PARTNER streamlines the whole approach and reduces the fog of transition.

Effective planning eases your IPSAS transition

Our two most popular IPSAS transition services offerings include:

IPSAS Jump Start

Scope: This services package focuses on your current reporting-to-IPSAS Scoping, Draft IPSAS Policies and Impact Assessment

The IPSAS Jump Start services package is ideal if:

  • The customer is struggling to balance internal resources to get the project started in a consistent manner, but wishes to maintain strong ownership over the transition project process.
  • The customer wishes to leverage the expertise of the IPSAS PARTNER team in assisting on the assessment of the impact of IPSAS policy changes on those standards that pose the greatest change.

Key Activities Include:

    • Scoping of your current reporting to IPSAS differences based on customer financials
      • Delivery of audit committee report highlight major conflicts between how you currently report and IPSAS requirements.
    • Develop detailed IPSAS transition plan based on Scoping results
      • Includes all detailed tasks to be completed and scheduling of customer staff and the IPSAS PARTNER team
    • Evaluation and then formalization of key draft IPSAS policies(typically 3 to 4 policies):
      • Build on preformatted IPSAS policies drafted in IPSAS PARTNER to look at and finalize draft policies for evaluation and impact assessment purposes
      • Conduct impact assessment on the applicable standards  document findings
      • Source required data and calculate financial impacts, as well as other downstream impacts (disclosures, internal controls, business activities, etc).
      • Review findings with  the Director of Finance, Controller, IPSAS Transition Project Manager

Typical Timeframe and Budgeted Hours: Six to ten weeks to complete with budgeted work hours from forty to eight hours.

Getting to your IPSAS Opening Transition Balance Sheet

Scope: This services package focuses on your current reporting to IPSAS Scoping, Draft IPSAS Policies, Impact Assessment, Management Reporting and then the creation of the Opening IPSAS Transition Balance Sheet

This services package is ideal if:

  • The organization does not have the internal resources required to get the project progressing in a timely manner.
  • The organization wants to be in a position to present the opening transition balance sheet and related documentation to its audit committee and external auditors for review and approval.

Key Activities Include:

    • Scoping of your current reporting to IPSAS differences based on customer financials
      • Delivery of audit committee report highlight major your current reporting to IPSAS conflicts
    • Develop detailed IPSAS transition plan based on Scoping results
      • Includes all detailed tasks to be completed and scheduling of customer staff and the IPSAS PARTNER team
    • Evaluation and then formalization of key draft IPSAS policies(typically 3 to 4 policies):
      • Build on preformatted IPSAS policies drafted in IPSAS PARTNER to look at IPSAS elections and then finalize draft policies for evaluation and impact assessment purposes
      • Conduct impact assessment on the applicable standards, IPSAS 1 elections, and document findings
      • Source required data and calculate financial impacts, as well as other downstream impacts (disclosures, internal controls, business activities, etc).
      • Review findings with CFO, Controller, IPSAS Transition Project Manager
    • Management and Audit Committee Reporting and Opening Transition Balance Sheet 
      • Provide checkpoint review materials for review and feedback/approval from external auditor
      • Review findings and develop presentation for audit committee
      • Audit committee presentation and approvals
      • Formalization of IPSAS policies and IPSAS 1 elections to be adopted
      • Development of additional change requirements (systems, data, etc) flowing from impacts associated with impact assessment review.
      • Scheduling of required change activities
      • Develop initial pro-forma opening transition your current reporting and IPSAS balance sheet and supporting IPSAS disclosures
    • Ongoing assistance (optional):
      • Development of framework for interim/quarterly financials and your current reporting vs. IPSAS comparatives
      • Other assistance as required

Typical Timeframe and Budgeted Hours: Eight to twelve weeks to complete with budgeted work hours from 100 to 150 hours.

An Experienced Team of IPSAS Professionals

So, let the IPSAS experts at Issues Central, Inc. help make your IPSAS transition a timely and cost-efficient process. To learn more about how the services team can help you please go to the Contact Us page and get in touch with one of our offices by e-mail or by telephone.