Chief Directors of MDAS Sensitized To New Accounting Standards
The Controller and Accountant General’s Department (CAGD) has asked all ministries, departments and agencies (MDAs) to brace up for a full implementation of the International Public Sector Accounting Standards (IPSAS) by 2022.
According to the Controller and Accountant-General, Mr Kwasi Kwaning-Bosompem, the IP
SAS was meant to improve on transparency and accountability in the management of public resources.
The IPSAS is a set of standards set up by the International Federation of Accountants (IFAC) to regulate and guide the preparation, presentation and disclosure of financial statements to improve public sector financial management.
The overall objective of the IPSAS is to ensure that the MDAs prepare complete and concise financial statements to ensure efficient use of public resources.
Posted from Accountant General’s Department website on 03/23/2020. Visit link for entire article: https://cagd.gov.gh/2019/12/chief-directors-of-mdas-sensitized-to-new-accounting-standards/
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