International Public Sector Accounting Standards

The International Public Sector Accounting Standards ( IPSAS ) are accounting standards that are in accordance with the recommendations of the IPSAS Board by public entities, with the exception of public management operators to apply. For public management operators ( often referred to only as public companies) shall apply mutatis mutandis to private companies issued by the IASB.

In the relevant literature, the IPSAS are often called International accounting standards for the public sector or as International Accounting Standards for the Public Administration translated.

The IPSAS are based on IFRS (formerly IAS called ) and are adapted to the specific needs of organizational units of the public sector. They shall be adopted in English and are available as official translations in Spanish, French and German.

The IPSAS Board

The IPSAS are by the IPSAS Board of IFAC (short: IPSASB ) develops. This board is a committee that would be responsible for its own responsibility accounting standards for the public sector (IPSAS ) to draw up and publish. The objectives of the IPSASB are to work in the public interest high-quality accounting standards for the public sector to enable compliance with international and national standards, thereby enhancing the quality and uniformity of the global financial reporting.

The IPSASB developed both IPSAS for financial statements in accordance with the accrual basis of accounting as well as financial statements after the payment principle. The IPSAS regulate the collection, measurement, presentation and disclosure requirements in relation to transactions and events in general purpose financial statements (so-called General Purpose Financial Statements). Such statements are characterized by the fact that they are published for users of financial statements that are not in the position to demand financial information for their specific needs.

Since 1 January 2009, Thomas Müller- Marqués Berger is representing the German professional organizations - Chamber of Public Accountants ( WPK ) and the Institute of Auditors ( IDW ) - Member of the International Public Sector Accounting Standards Board ( IPSASB ) of the International Federation of Accountants (IFAC ).

Overview of the standards

Currently (November 2011 ), there are 32 standards for the double-entry accounting as well as a standard for accounting on the basis of the payment principle ( cameral ):

Application of IPSAS

IPSAS are now used in many countries in Central and Eastern Europe, Asia, Africa and Latin America and in many international organizations (OECD, NATO, United Nations from 2010 ). In Europe, the European Commission carries out its bill after IPSAS, as well as some member countries and Switzerland.