The International Public Sector Accounting Standards (IPSAS) are a set of rules and guidelines issued by the IPSAS Board for the use by public sector entities globally for the preparation of financial statements. It focuses on refining the quality of financial reporting, leading to more up-to-date and economically effective policy making by governments while at the same time, increase transparency and liability.
Due to the need for more accurate and transparent reporting, a Royal Decree (No.13059) has been issued in Saudi Arabia dated 16 Rabi al-Awwal 1438AH (15 December 2016), which requires all governmental institutions to convert their accounts from cash to the accrual basis of accounting using IPSAS Standards.
Our focus is towards collaborating with our clients, working on methodologies to align, express, and implement strategies to establish a culture that accepts and endorses this complex transformation. This transformation requires entities to engage experts that have the relevant expertise and knowledge to lead the transformation process to IPSAS with a clear strategy and smooth roadmap.
How we can help?
Following are the key services offered:
→ IPSAS Transition
→ Transition from Cash basis to Acctual basis
→ Policies and Procedures Review
→ Gap Analysis Report
→ Employees Training