To assist governments and government entities wishing to report in accordance with the accrual-based International Public Sector Accounting Standards (IPSAS), IFAC has developed a package of training materials, collectively titled Train the Trainer: Introduction to IPSAS.

Accrual accounting information provides greater transparency and is useful for accountability and decision-making purposes. Implementation of accrual accounting in the public sector is a significant priority across many jurisdictions, especially as public finances face increasing scrutiny as a result of the pandemic.

The training materials are aimed primarily at entities currently using a cash basis of accounting and transitioning to, or planning a move to, accrual IPSAS. The materials, which are available to trainers at no cost, are designed to be used flexibly and can be tailored to the needs of training participants.

The course is structured over ten modules with each broken down into topics that stand alone and can be delivered as individual sessions. The training topics include assets, liabilities, financial instruments, and first-time adoption of accrual basis IPSAS. Each module includes a training manual and an accompanying set of slides, with some modules containing supplementary video content.

IFAC remains committed to advocating for strong public financial management and to supporting IPSAS adoption and implementation. The Train the Trainer: Introduction to IPSAS materials are meant to aid public sector entities around the globe as they adopt high-quality accounting practices.

The International Public Sector Accounting Standards Board (IPSASB) has released the final pronouncement, COVID-19: Deferral of Effective Dates, which delays the effective dates of recently published Standards and Amendments to IPSAS by one year to January 1, 2023. Responding to the global COVID-19 pandemic and the challenges it has created, the purpose of this pronouncement is to provide stakeholders with additional implementation time.

“The COVID-19 pandemic has created significant pressures on the staff and other resources that public sector entities might otherwise devote to the implementation of upcoming IPSAS standards and amendments,” said IPSASB Chair Ian Carruthers. “A one-year deferral of the effective dates of these upcoming standards and amendments will provide much-needed operational relief to public sector entities.”

The Standards and Amendments which are impacted include:

• IPSAS 41, Financial Instruments;
• IPSAS 42, Social Benefits;
• Long-term Interests in Associates and Joint Ventures (Amendments to IPSAS 36) and Prepayment Features with Negative Compensation (Amendments to IPSAS 41);
• Collective and Individual Services (Amendments to IPSAS 19); and
• Improvements to IPSAS, 2019.

About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS and the benefits of accrual adoption. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, and the governments of Canada and New Zealand. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.

About the Public Interest Committee
The governance and standard-setting activities of the IPSASB are overseen by the Public Interest Committee (PIC), to ensure that they follow due process and reflect the public interest. The PIC is comprised of individuals with expertise in public sector or financial reporting, and professional engagement in organizations that have an interest in promoting high-quality and internationally comparable financial information.

As the global accountancy profession began adapting to the COVID-19 pandemic and its consequences, IFAC (the International Federation of Accountants) convened a series of roundtable discussions to understand the implications of the pandemic for professional accountants and leaders, and how their experiences will affect the future of accountancy and accountancy skills.

Today, IFAC published a summary of these findings, Accountancy Skills Evolution: Impact of COVID-19 & the Path Forward. This whitepaper outlines the key themes our stakeholders shared, including accelerated ways of working, impact of technology, practices that align to new societal demands, and the right balance of skills, which collectively illustrate a roadmap for the professional accountant.

The roundtable discussions and emerging themes also influenced the structure and content of the upcoming virtual global summit, The Anticipatory Accountant: Global Trends Transforming Learning & Development. The summit, which features world-renowned futurist Daniel Burrus and special guest Tom Hood, continues these conversations and focuses on three broad themes: technology, the environment, and society.

This is the eleventh installment of a 12-month publication series titled Exploring the IESBA Code. This installment addresses bias and the role and mindset of the professional accountant. 

To view all installments of Exploring the IESBA Code, visit the series landing page here.

For more information about the Code, click here.

Fabrizio Mocavini is Head of Unit in the Italian Ministry of Economy and Finance (MEF), State General Accounting Department, dealing with research in the field of performance measurement, public sector internal financial control, and accounting standards. On these matters, he carries out relations with other countries and with international organizations, such as the Organisation for Economic Co-operation and Development and the EU.

Mr. Mocavini has been a project leader and technical expert on various EU projects in the fields of budget management, financial control, and public accounting with the Ministries of Finance of Bulgaria, Lithuania, Poland, Romania, the Slovak Republic, and Turkey where he has had the opportunity to promote and support the IPSAS adoption.

Recently, he coordinated EU projects aimed at adopting an action plan and a set of accrual accounting standards for the 2025 implementation of accrual-based accounting and IPSAS/EPSAS in Italy.

Currently he is Head of Technical Staff of the Italian MEF Standard Setter Board established for the implementation of the accrual accounting based on IPSAS/EPSAS.

He is the Italian representative on the Eurostat European Public Sector Accounting Standards (EPSAS) Working Group for public accounting standards implementation.

Mr. Mocavini has a degree in economics from Sapienza – Università di Roma and is a chartered accountant. He is also an Auditor of public sector entities and private companies owned by Italian public local governments.