IPSAS ADOPTION BY GOVERNMENTS March 2006 Introduction Basis for the information This list of countries that either

have adopted or are in process of adopting IPSAS was pulled together as follows. talking to IPSASB members (who include those directly involved with their own government's IPSAS adoption and consultants working on IPSAS Adoption projects). website searches (particularly development bank websites where there are project descriptions) e-mail contact (eg with the Carribean IPSAS adoption project facilitator)

Number of Countries There are probably more countries in process of adopting IPSAS than those listed here, but there is no agency responsible for gathering this information together. This is the most reliable and complete information presently available. IPSAS Adoption by Country Afghanistan: Albania: Algeria: Argentina: Azerbaijan: Bangladesh: Barbados: Cambodia: China: Cyprus: Process in place to adopt IPSAS (cash basis then accruals). Legislation passed. Government plans to adopt IPSAS (accruals) with Italian government, UNDP and World Bank support. (Target date: 2006) World Bank project for accounting etc reform, includes IPSAS [check] Process in place to develop public sector accounting standards that are harmonized with IPSAS (accruals). Appears to have adopted IPSAS (accruals). Process in place to adopt IPSAS, legislation passed. Process in place to adopt IPSAS (accruals). (IMF confirmation.) Process in place to adopt IPSAS. Project in place to adopt IPSAS. (No formally announced decision.) Has adopted the IPSAS cash basis accounting standard.

Cayman Islands: Government has adopted IPSAS (accruals).

East and Southern Africa: The East and Southern African Association of Accountants General member states aims include adoption of IPSAS. The Associations member states are: Botswana, Kenya, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Rwanda, South Africa, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe. (Funding support provided by the Swedish International Development Cooperation Agency.) East Timor Has adopted the IPSAS cash basis accounting standard.

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El Salvador Fiji: France: Hungary: India:

World Bank project has IPSAS adoption as one objective. (Jan 2005) Plans to adopt the IPSAS cash basis accounting standard. Government changing to accrual basis. Applicable standards, in process of development, are based on IFRS, IPSAS and French accounting rules. EU twinning project for accounting etc reform, includes IPSAS [check] World Bank is working with the Government to adopt IPSAS. IMF funding for IPSAS adoption provided at state level. The Committee on Accounting Standards for Local Bodies is reviewing IPSAS with a view to their adoption. IPSAS-compliant government accounting standards expected by 2009. Adoption of IPSAS (accruals) by all public sector entities in process. Commitment to adopt IPSAS (accruals) and change is in process. The Ministry of Finance of the Republic of Kazakhstan (MFRK) has requested FIRST support to provide technical assistance to explore the possibility of introducing the international standards of public sector accounting and reporting in Kazakhstan. World Bank is working with the Government to adopt IPSAS. EU twinning project for accounting etc reform, includes IPSAS [check] EU twinning project for accounting etc reform, includes IPSAS [check] BCEOM Project in progress to introduce IPSAS [check] Process in place to adopt IPSAS. Government is in process of adopting IPSAS (accruals) from 2003. Project supported by World Bank and Asian Development Bank. (Software: Freebalance.) Institution building, includes IPSAS [check] Decision made to adopt IPSAS (cash basis). Government is piloting adoption of IPSAS (accruals, with amendments where deemed necessary). Central government is piloting change to full accruals: Applies IPSAS (accruals) where no applicable Norwegian private sector standard. In process of adopting IPSAS standard on cash accounting and will then move to accruals. World Bank project (PIFRA) supports this change. Has adopted IPSAS (accruals). Planning to adopt IPSAS. Adoption of IPSAS (accruals, with South African amendments) in process.

Indonesia: Israel: Jamaica: Kazakhstan

Lao: Latvia: Lithuania: Lebanon: Maldives: Mongolia:

Morroco: Nepal: Netherlands: Norway: Pakistan: Philippines: Slovakia: South Africa:

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Sri Lanka: Switzerland: Uganda: Ukraine: Uruquay: Vietnam: Zambia:

Has adopted IPSAS cash accounting standard and plans to progressively adopt other IPSASs. (Asian Development Bank support.) Federal Government is adopting IPSAS, effective from 2007. Government has adopted IPSAS. Presidential decree requires government to adopt accrual accounting, and accounting standards for application appear to be IPSAS. Legislation has been passed that requires adoption of IPSAS. Process in place to adopt IPSAS with World Bank support. (Translation of IPSAS in process.) Government has implemented the cash basis IPSAS.

IPSAS Similar National Public Sector Accounting Standards Governments that already apply full accrual accounting standards and apply accounting standards that are broadly consistent with IPSAS requirements: Australia Canada New Zealand United Kingdom United States of America Within this group, the public sector accounting standards applied in Australia and New Zealand are the closest to IPSAS, because of those jurisdictions convergence with IAS/IFRS with public benefit entities amendments. Next closest would be the United Kingdom, then Canada again because of their commitment to convergence with IFRS and the work they do with the IPSASB.

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