International Public Sector Accounting Standards.

International Public Sector Accounting Standards. - PREFACE...

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PREFACE TO INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS Introduction This Preface to the International Public Sector Accounting Standards (IPSASs) sets out the objectives and operating procedures of the International Public Sector Accounting Standards Board (IPSASB) and explains the scope and authority of the IPSASs. The Preface should be used as a reference for interpreting invitations to comment, discussion documents, exposure drafts and standards approved and published by the IPSASB. The mission of the International Federation of Accountants (IFAC), as set out in its constitution, is “ to serve the public interest, strengthen the accountancy profession worldwide and contribute to the development of strong international economies by establishing and promoting adherence to highquality professional standards, furthering the international convergence of such standards, and speaking out on public interest issues where the profession’s expertise is most relevant.” In pursuing this mission, IFAC established the IPSASB. The IPSASB (formerly Public Sector Committee (PSC)) is a Board of IFAC formed to develop and issue under its own authority International Public Sector Accounting Standards (IPSASs). IPSASs are high quality global financial reporting standards for application by public sector entities other than Government Business Enterprises (GBEs). The IPSASB’s Consultative Group is appointed by the IPSASB. The Consultative Group is a non-voting group. It provides a means by which the IPSASB can consult with and seek advice as necessary from a broad constituent group. The Consultative Group is chaired by the Chair of the IPSASB. The Consultative Group is primarily an electronic forum. However, regional chapters of the Consultative Group meet with the IPSASB in conjunction with any IPSASB meetings in their region. All Consultative Group members are invited to these meeting. In addition, a full meeting of all members of the Consultative Group may be held if considered necessary.
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Objective of the IPSASB The objective of the IPSASB is to serve the public interest by developing high quality public sector financial reporting standards and by facilitating the convergence of international and national standards, thereby enhancing the quality and uniformity of financial reporting throughout the world. The IPSASB achieves its objectives by: Issuing International Public Sector Accounting Standards (IPSASs);
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This note was uploaded on 11/10/2011 for the course ECONOMIC 209 taught by Professor Ratnadamayanti during the Spring '11 term at Universitas Hasanuddin.

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International Public Sector Accounting Standards. - PREFACE...

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