Implementation of Accrual Basis of Accounting in Public Sector. Graham Divers Director Public Sector Development 8 December 2016

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1 Implementation of Accrual Basis of Accounting in Public Sector Graham Divers Director Public Sector Development 8 December 2016

2 Agenda Global IPSAS implementation experience Challenges and lessons learnt Advantages of implementing IPSAS Capacity Building through partnerships 2 14/12/2016 Towards a transparent public sector accounting: Advances and Challenges

3 Our global reach in numbers 188,000 members and 480,000 students in 178 countries of which 64,000 members and students in the Public Sector 100 offices and centres in 53 countries 1,249 employees globally 7,400 Approved Employers 299 Approved Learning Partners 3 14/12/2016 Ethics and professionalism

4 Global experience of IPSAS implementation 4 14/12/2016 Towards a transparent public sector accounting: Advances and Challenges

5 Global experience Journey to IPSAS is many and varied On route to Cash basis IPSAS Cash basis IPSAS On route to Accruals Accruals basis IPSAS Importantly it is a means to the end, not an end in itself 5 14/12/2016 Title of presentation - enter in the Header & Footer field

6 Challenges to implementation 6

7 Challenges to implementing accruals Time taken underestimated Ensuring continued commitment Coverage breadth and depth Capacity & capability Fundamentals Systems 7 14/12/2016 Global public sector 2016

8 Advantages to implementing accruals 8

9 Advantages to implementing accruals Enhanced accountability Greater Transparency Asset management Liabilities sustainable public finances Better decision making Better public financial management = Public Trust 9 14/12/2016 Global public sector 2016

10 Capacity Building for Public Sector through partnerships 10 14/12/2016 Towards a transparent public sector accounting: Advances and Challenges

11 Certificate IPSAS WHAT DOES IT COVER? WHO IS IT FOR? HOW IS IT DELIVERED? Certificate in IPSAS explores the requirements for, governance of and implementation of IPSAS around the world. The qualification has been designed for ACCA members, members of other professional bodies or people with financial reporting experience looking to enhance their existing skills. It s ideal for any finance staff working with IPSAS. Flexible, online delivery over approximately 20 hours of sector specific content. 16 Developing public sector finance capability 14/12/2016

12 Pathway to the ACCA Qualification Member Professional Start here if you are graduate with a relevant degree Essentials Governance, Risk & Ethics Corporate Reporting Options PICK TWO: Advanced Financial Management Experience 3 years relevant experience Business Analysis Advanced Performance Management Ethics Advance Taxation An online ethic module Advance Audit & Assurance Foundamentals Start here if you have the equivalent of 3 GCSEs and 2 A-levels Knowdlege DIPLOMA Skills ADVANCED DIPLOMA Foundation DIPLOMA Foundation INTERMEDIATE CERTIFICATE Foundation INTRODUCTORY CERTIFICATE Foundations Start here if you have no relevant qualifications Accountant in Business Financial Accounting Management Accounting Corporate & Business Law Taxation Audit & Assurance Financial Reporting Performance Management Financial Management Cert PSAS to be completed once Financial Reporting is passed 18 Developing public sector finance capability 14/12/2016

13 50 Drivers of Change in the Public Sector This research focuses exclusively on identifying and assessing the factors that will change in the public sector to 2026 and the future skills professional accountants in the sector will need to develop Published today 8 December at 0900 GMT Download the report now /12/2016 Global public sector 2016

14 Thank you Implementation of Accrual Basis of Accounting in Public Sector Graham Divers Director Public Sector Development Twitter: diversgraham