Deborah Odamitey

deborah.odamitey@icagh.com

CPD ON IPSAS UPDATES

Deborah Odamitey <deborah.odamitey@icagh.com>
To
ratty_manfo2007@yahoo.com
Sep 6 at 3:32 PM

104085
ADAM ALIU

Dear Member

INVITATION TO CPD ON IPSAS UPDATES

The Institute of Chartered Accountants, Ghana acting in the capacity as the body
responsible for developing accounting standards for Ghana in consultation with the
Controller & Accountant General and the Auditor General of the Republic of Ghana
announced the adoption of accrual basis IPSAS as the standards that should guide
the preparation of financial statements of all public sector entities in Ghana in
October 2014.
In the 2015 national budget statement, the Minister of Finance announced the
determination of government of Ghana to implement IPSAS and directed that IPSAS
shall be the basis for the preparation of the public accounts of Ghana for the year
ended 31st December 2016, in a step by step approach to implementation to span a
period of five years from 2016.
As part of its capacity building strategy, and for the purposes of ensuring that
members and other accounting professionals are conversant with new
developments in the International Public Sector Accounting Standards the Institute
of Chartered Accountants (Ghana), desires to provide an update on current
developments in IPSAS through a two-day CPD.
The objective of the CPD is to update participants on the current development in
IPSAS ensure the financial statements of the GHS for the years ending 31 st
December 2016 are prepared to be compliant with accrual basis IPSAS as much as
is practical.

PROGRAMME OUTLINE:
1. An update on processes towards IPSAS implementation by the
Government of Ghana and the way forward
The processes leading to adoption of IPSAS in Ghana
IPSAS Implementation plan
The implementation challenges that must be addressed
2. Update on IPSAS to cover the extant IPSASs
IPSAS 1: Presentation of Financial Statements
IPSAS 2: Cash Flow Statements
IPSAS 3: Accounting Policies, Changes in Accounting Estimates and
Errors
IPSAS 4: The Effects of Changes in Foreign Exchange Rates
IPSAS 5: Borrowing Costs
IPSAS 9: Revenue from Exchange Transactions
IPSAS 10: Financial Reporting in Hyperinflationary Economies
More emphasis will be placed on the specific IPSASs that have greater relevance to
the general government sector in Ghana.

PROFILE OF THE FACILITATOR DR. WILLIAMS ABAYAAWIEN ATUILIK

Dr. Williams Abayaawien Atuilik holds a PhD in Accounting from Capella University,
Minnesota, USA; MSc. (Finance) from the Ghana Institute of Management Public
Administration; MA (Economic Policy Management) from the University of Ghana;
LLB from the University of Ghana; and BSc. (Administration) from the University of
Ghana. He is a member of the following professional bodies: Institute of Chartered
Accountants Ghana, Chartered Institute of Public Finance and Accountancy (UK),
Chartered Institute of Bankers Ghana, Chartered Institute of Taxation Ghana,
Ghana Bar Association, Ghana Institute of Management, Liberia Institute of
Certified Public Accountants, and a Fellow of the Association of Chartered Certified
Economists.
He has provided consulting services for development partners such as the World
Bank Group, African Development Bank, USAID, WHO, and DFID since the past nine
years, specifically on PFM reform issues ranging across the entire PFM cycle.
Few of the areas he has provided consulting services in the past include:
1. Member of the Accrual Basis IPSAS Implementation Committee of Ghana,
supporting the Controller & Accountant General to implement IPSAS
2. PFM Specialist, leading the assessment of the financial management
system of the Ministries of Health of Puntland and Somaliland in the Republic
of Somalia sponsored by the WHO;

3. IPSAS consultant, working as lead advocate and providing guidance on the

processes leading to the adoption and implementation of accrual basis IPSAS
by the Government of Ghana sponsored by the ICAG;
4. Senior Lecturer in PFM, supporting the professionalization of the cadre of
accounting and audit staff of public sector institutions in Liberia sponsored by
USAID;
5. Lead Consultant, on a World Bank sponsored twining arrangement
between the Liberian Institute of Certified Public Accountants (LICPA) and
ICAG helping to strengthen the capacity of LICPA;
6. Financial Management specialist, providing technical support for an indepth fiduciary review of the financial management processes of selected
projects funded by the World Bank in Ghana sponsored by the World Bank
Group:
7. PFM specialist, supporting the development of PFM Reform strategy
covering 2013 to 2016 to reform the PFM system of the Federal Republic of
Somalia sponsored by the World Bank Group; and
8. Technical Advisor on Government Accounting to the Ministry of Finance in
Liberia, leading the processes in the adoption and implementation of cash
basis IPSAS by the Government of Liberia and providing support for the
development and rollout of IFMIS in Liberia sponsored by the African
Development Bank.

CPD Credit Hours: TWELVE (12)

Venue: MJ Grand Hotel, East Legon

Date: Wednesday 14th September and Thursday, 15th
September, 2016
Fee: Ghc 400
Time: 8:30 am to 3:30 pm
PLEASE CONFIRM PARTICIPATION BY REPLYING TO THIS
MAIL.
For further Enquiries Contact:
The Members Services Department
Tel: 0288700103