ICGFM Ad Hoc Committee on International Accounting Standards


The ICGFM Board established the Ad Hoc Accounting Standards Committee to prepare responses to the International Public Sector Accounting Standards (IPSAS) consultative papers and exposure drafts on behalf of the ICGFM members.


Members of the Ad Hoc Committee on International Accounting Standards:


Michael Parry (UK), Chair

Anne Owuor (Kenya)

Iheariyi Anyahara (Nigeria)

Mark Silins (Australia)

Tony Bennett (UK)

Nino Tchelishvili (Georgia)

Steve Glauber (US)

Maru Tjihumino (Namibia)

Jesse Hughes (US) Paul Waiswa (Uganda)

Kennedy Musonda (Zambia)

Andy Wynne (UK)
Hassan Ouda (Egypt)  


To assure due process in establishing International Public Sector Accounting Standards, the IPSAS Board solicits comments from around the globe on accounting issues being deliberated by the Board. Consultative papers and exposure drafts of potential accounting standards are circulated for 3-4 months so interested parties can submit comments for Board consideration during their deliberations.  Below are the ICGFM Committee's responses:


ICGFM Responses to the IPSAS Board

Elements and Recognition in Financial Statements
CP 4/29/2011

Measurement of Assets and Liabilities in Financial Statements
CP 4/29/2011

Phase 1 of the Conceptual Framework
ED 4/29/2011

Improvements to IPSAS 2011
ED 45 6/22/2011

Key Characteristics of Public Sector
ED 8/15/2011

Long-Term Sustainability of a Public Sector Entity's Finances
ED 46 2/18/2012

Reporting Service Performance Information
CP 4/1/2012

Conceptual Framework for General Purpose Financial Reporting (GPFR) by Public Sector Entities: Presentation in GPFRs
CP 5/12/2012

Financial Statement Discussion and Analysis
ED 47 7/16/2012

IPSASB Work Program 2013-2014
CP 9/21/2012

IPSAS versus GFS Reporting Guidelines
CP 3/9/2013

IPSASB ED-49 Consolidated Financial Statements
ED 1/28/2014


IPSASB ED 53 First Time Adoption of the IPSAS
ED 1/28/2014


IPSASB ED 54 RPG 3 - Reporting Service Performance Information
ED 4/15/2014


IPSASB Governance Review Group - Future Governance of IPSASB
CP 4/15/2014

IPSASB Strategy Consultation 2015-2019
CP 7/3/2014

Applicability of IPSASs to Government Business Enterprises (GBEs) and Other Public Sector Entities
CP 10/15/2014


IPSASB Proposed Changes to the Cash Basis Standard


IPSASB ED 56 - The Applicability of IPSASs

IPSASB ED 57 - Impairment of Revalued Assets


IPSASB ED 58 - Improvement of IPSASs 2015


IPSASB ED 60 - Public Sector Combinations


Public Sector Specific Financial Instruments

CP  12/15/2016



ED—Exposure Draft
CP—Consultative Paper

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Please be aware that the IPSAS Compilation Guide is an exposure draft, not for publication or use at this time.  IPSASB will meet in September 2015 in New York.  After those meetings, potential revisions to the exposure draft or creation of a new guide will be determined.

IPSAS Compilation and Certification

Program for Developing Countries


The ICGFM has developed an IPSAS Compilation Program (including a self-assessment guide and a Certificate of Compliance) to assist developing countries or countries in transition in their efforts to implement IPSAS. Many countries have used the self-assessment guide to evaluate their level of implementation.  Some of the countries that have used the self-assessment guide are as follows:

Egypt, Gambia, Guatemala, Hashemite Kingdom of Jordan, Honduras, Kenya, Malawi, Namibia, Nepal, Nigeria, Rwanda, Turks and Caicos Islands, Uganda, and Vietnam.

Many countries around the world indicate that they have adopted or are in the process of adopting either the Cash Basis IPSAS or the accrual IPSASs.  To the best of our knowledge, the most complete, current listing is available at the following website:


The following Certificates of Conformance have been issued:

Two ministries in the Republic of Nepal for their budgetary and extra-budgetary entities as well as their government business enterprises and the Kingdom of Jordan for their budgetary entities.




ICGFM Responses to Other Entities


PEFA Indicator Set - Questions for Consultation