SOLUTIONS LAB: Challenges of Adopting and Implementing IPSAS
DATE: September 1, 2014
TIME: 10:30 am
December 11-12, 2013
Location: Videoconference rooms of the World Bank offices in Morocco, Tunisia, Egypt, Yemen, Djibouti, Jordan, Lebanon, Iraq, Palestinian Territories, and Washington, DC; led by World Bank financial management specialists and an IPSAS expert.
Audience: 70 participants from MOF (and other public institutions) of the 9 countries
This Solutions Lab will discuss the status of IPSAS adoption and implementation in 9 of the MNA countries, expose the participants to good practices of being compliant with IPSAS, and have a conversation regarding the challenges and opportunities of both adoption and implementation.
Objective: to connect professionals and civil servants from the MENA region working on either adoption or implementation of IPSAS with international experts bringing relevant experience for the purpose of providing different perspectives on solutions. The Solutions Lab has been organized in response to feedback received during the 2013 Exchange PFM conference which noted the need for additional support and assistance for MENA IPSAS adoption and implementation.
Participants: A total of 176 participants from governments, professional bodies, businesses, and academia joined the Solutions Lab: 79 participants (including 45 from Mashreq countries and 35 from Maghreb countries) in person (from World Bank country offices), and 97 joined by web streaming. Two experts were virtually connected from the Netherlands and Germany.
The discussion covered:
· Status of each participating country public accounting reform, consideration of IPSAS, challenges, and potential areas of support or cooperation;
· Overview of global sequencing of accounting reform program in the public sector;
· IPSAS Board, objective, and functions;
· Challenges and opportunities of IPSAS-Cash Basis adoption and implementation, and conversion from non-IPSAS to IPSAS-Cash Basis; and
· Challenges and opportunities of IPSAS- Accrual Basis adoption and implementation and conversion from non-IPSAS to IPSAS-Accrual, and from IPSAS-Cash Basis to IPSAS-Accrual Basis.
A consensus was reached on the importance of adoption of IPSAS as a means toward an effective and transparent accounting system, which will hopefully lead to better resource allocation, less corruption in public sector finances, and eventually improving accountability. Furthermore, it was agreed to maintain a sustainable and frequent sharing of more observations and technical advice on IPSAS in future World Bank workshops and missions.