You are a lead researcher with a public interest firm specializing in the financial reporting and audit of publicly funded organizations and have consulted widely across Africa on public sector financial reforms. Particularly, you have earned a reputation as a champion of the International Public Sector Accounting Standards (IPSAS) in Ghana and beyond. Following Ghana’s adoption of IPSAS, some members of the Institute of Chartered Accountants Ghana (ICAG) argued that IPSAS is a duplication of IFRS and that Ghana could have just opted to require IFRS application by publicly funded entities. Given the above, the Institute has engaged your team of experts to critically evaluate all existing IPSAS and IFRS highlighting areas of significant differences between the two reporting frameworks. Your report will be used by the Institute in its next continuous professional development (CPD) for chartered accountants in Ghana. Your critical review and comparison of the two reporting frameworks should be between 15 to 20 pages using Times New Roman double line spacing.

Answer rating: 100% (QA)

Points of variations are a Segment reporting b No fashionable regarding potential monetary statements and precis monetary statements c Government enterprise enterprise dcontrol e Accoutiing for histor... View the full answer