IPSAS - Technical Update (1 day)

Introduction

This one-day course brings delegates up-to-date with the latest pronouncements from the International Public Sector Accounting Standards Board (IPSASB). It provides delegates with information focused on the recent and upcoming changes to IPSAS. This update course also serves as a supplement to our overview Courses (see Course 3002: IPSAS Masterclass and Course 3011: IPSAS Fundamentals - Accrual Basis), which provide comprehensive overviews of the requirements for understanding and applying IPSASs.

This program updates on recent and future IPSAS developments, including Exposure Drafts and Consultation Papers. Topics are updated ahead of each course to ensure coverage of new / emerging issues. As a general principle, the course aims to cover those accrual basis Standards which, at the date of the course, have been issued or amended but are not yet mandatory and those which become mandatory in the current year.

Course participants are encouraged to raise issues and interact with other delegates and explore their practical concerns about applying the new requirements.

This program answers questions such as:

• What are the recent changes in IPSASs?
• Which changes are mandatory and which represent guidance?
• When will new requirements be effective?
• Which entities should apply the changes?
• What are the application and transition rules relating to new pronouncements?
• What are the likely future changes in IPSASs and when will these take place?

Learning Objectives

• Understand new IPSAS requirements, including accounting policies and disclosures
• Apply recent and revised IPSAS
• Increase planning opportunities through awareness of likely future IPSAS changes
• Increase awareness of issues involved in the implementation of IPSAS and how to deal with them
• Plan ahead for issues that arise when implementing future developments and anticipated IPSAS
• Learn the sources of IPSAS guidance that are available
• Interact with delegates who are involved in implementing IPSAS

Who Should Attend

• Directors of finance / CFOs of public sector entities
• Accounting and finance professionals working in organisations that report under IPSAS or are in the process of adopting IPSAS
• Internal and external auditors of IPSAS reporting entities
• Consultants, analysts and academics with interests in IPSAS reporting

Topics

• New and Amended Standards for 2022
  • IPSAS 41 - Financial Instruments (to replace IPSAS 29)
  • IPSAS 42 - Social Benefits
  • IPSAS 19 (amendments) - Collective and Individual Services
  • Improvements to IPSASs 2019  
• Exposure Drafts
  • ED 64 - Leases
  • ED 69 - Public Sector Specific Financial Instruments
  • ED 70 - Revenue with Performance Obligations
  • ED 71 - Revenue without Performance Obligations
  • ED 72 - Transfer Expenses
• Current IPSASB projects
• IPSASB Staff Q&A - Materiality
• Strategy and Work Plan 2019-2023
• Brief overview of European proposals to develop EPSASs

Teaching Method

• Group live instruction with interactive participation encouraged
• Explanation and discussion of current and upcoming accounting issues
• Presentation of examples and case studies for illustration
• Discussion of practical experiences and real-world applications
• All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials

Instructors

Venue

CPE/CPD Accreditation

IASeminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org .

 

Field of study: Accounting

Prerequisites

We will assume that participants have prior knowledge of existing IPSAS either as practitioners of IPSAS or through prior attendance on one of our accruals basis IPSAS courses. No advance preparation is required for this course.