Showing posts with label OAS. Show all posts
Showing posts with label OAS. Show all posts
Wednesday, September 10, 2014
Monday, December 6, 2010
IPSAS Implementation at the OAS
Heather Alsopp of the Organization of American States presented a case showing how the OAS adopted IPSAS standards. suggested that the move to IPSAS was somewhat of a baptism of fire.
The OAS used different accounting methods for operating, voluntary, special reserve, fiduciary and internal service funds. Ms. Alsopp pointed out that the adoption of IPSAS typically happens in the context of wider management reforms. She suggested that the move to a common language through IPSAS enables improved transparency, accountability and manage for results.
The OAS project was primarily funded by a grant from the Canadian International Development Agency (CIDA).
The OAS experienced some challenges when adopting IPSAS including:
The OAS used different accounting methods for operating, voluntary, special reserve, fiduciary and internal service funds. Ms. Alsopp pointed out that the adoption of IPSAS typically happens in the context of wider management reforms. She suggested that the move to a common language through IPSAS enables improved transparency, accountability and manage for results.
The OAS project was primarily funded by a grant from the Canadian International Development Agency (CIDA).
The OAS experienced some challenges when adopting IPSAS including:
- Difficulty of moving to accrual accounting
- Resistance to change
- Competition for IPSAS experts
Ms. Alsopp suggested that the benefits of accrual accounting need to be articulated rather than the theoretic differences between cash and accrual. One major lesson learned is having dedicated qualified expertise to move to accrual accounting.
Ms. Alsopp described how IPSAS impacted:
- Consolidation of controlled entities
- Revenue recognition
- Expense recognition
- Employee benefits
- Property plant and equipment
She said that there is a lot of qualitative and legal assessments required for accrual based IPSAS. Ms. Alsopp pointed out that there was a concern that the move to accrual accounting loses important information. She recommended that budget variance reports based on cash basis can provide this information.
Although the move to accrual accounting and support of IPSAS has been a major project, Ms. Alsopp believes that the benefits in transparency and accountability will help improve decision making.
Alsopp ipsas ipsas un cas pour la réforme comptable à l'oea
View more presentations from icgfmconference.
Tuesday, February 23, 2010
Impact of Financial Crisis on Improving Transparency
On February 3, 2010, the ICGFM luncheon draw another record crowd of more than 60 people. This attendance was likely attributable to the stature of the members of the panel that answered questions from the audience and from the moderator.
The panel included Ms. Linda Fealing, Inspector General of the Organization of American States and Mr. Alan Sigfried, Auditor General of the Inter-American Development Bank. The speakers addressed a broad range of questions ranging from the impact of the financial crisis on their institutions and client countries to the skills required for modern auditors in the public sector.
Among the more interesting of their observations was that modern internal auditors need to have good analytical and problem solving abilities as well as the classic technical audit skills of numerical competency. They attribute this trend to the need for internal auditors to provide value to their clients in providing advice on opportunities for improvement as opposed to merely certifying compliance with regulations or accounting requirements. The panel also agreed that the demand for greater transparency in the public sector is growing in their region of focus—Latin America, as well as by their own Boards.
Wednesday, January 7, 2009
Trends in Accountability from an Auditor's Perspective
February 4, 2009 (Washington DC)
Trends in Accountability from an Auditor's Perspective
The role of the public auditor has advanced beyond verifying numbers and financial reports. Today, auditors in the public sector have evolved into serving as an independent source of accountability for not only financial performance but for commitments to outcomes, policies, efficiency, and effectiveness. In addition to serving the public interest, public sector auditors can be a valuable resource for management by providing important feedback on overall performance.
Our panel, representing internal audit functions of international organizations, will discuss trends in the role of the public audit function, the tools being employed in performing this new role, and what we can expect in the future for public accountability. The panel will consist of:
- David Nummy, moderator, (Executive Director, Grant Thornton)
- Alan Siegfried (Executive Director, IDB)
- Linda Fealing (Inspector General, OAS)
- Barry Potter (Director of the Office of Internal Audit, IMF)
The International Consortium sponsors a learning forum and luncheon the first Wednesday of each month from January through June, and from September through December, at The Carnegie Endowment for International Peace. Sessions begin at 11:45 and details can be found on the Upcoming Events page on the ICGFM web site. Summaries of the presentations and question-and-answer periods which follow are published on the ICGFM blog
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