Implementing accrual based accounting takes time together with an investment in education and training.īangladesh has commenced its journey towards accrual based IPSAS™ and the Institute of Chartered Accountants of Bangladesh, as the Regulator of the Profession of Accountants in Bangladesh, is poised and ready to assist Government on this journey. Improved public sector reporting provides investors and development partners with access to better, more trustworthy financial information. Even though countries may choose accrual or cash based IPSAS, the long term goal for most is accrual based accounting, which provides a clearer picture of assets, liabilities, and future obligations. “Over the past few years many countries around the world have embraced International Public Sector Accounting Standards (IPSASs), which enable uniformity, transparency, consistency, and accountability in public sector financial reporting. Speaking at the agreement signing the President of ICAB, Mr. This agreement was signed during a high level conference on International Public Sector Accounting Standards which was organised in Dhaka by ICAB and delivered by CPA Ireland in July 2015. This agreement builds on a strategic partnership, which includes mutual pathways to membership, signed between the two bodies in 2012. The Institute of Chartered Accountants of Bangladesh (ICAB) and the Institute of Certified Public Accountants in Ireland (CPA Ireland) have signed a Memorandum of Understanding (MOU) to establish a partnership relating to the distribution of the unique online CPA Certificate in IPSAS™ Financial Reporting in Bangladesh.
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