Whilst there are calls for adopting high-quality, transparent and international accounting rules for governments and other public sector entities, many government officials and public sector accountants are not familiar with the requirements of IPSAS and with the often substantial changes that adoption of these rules may imply, mainly for those entities that use cash accounting. Consequently they are not fully aware of the implications of applying IPSAS for their own organization.
The book aims to create an awareness of IPSAS; it avoids reproducing exhaustively the IPSAS texts but rather seeks to highlight the main accounting issues and principles, and explains how to apply them in practice.
The objective is to be didactic and easy to read. Throughout the book, comments are inserted to provide practical guidance for professionals who work or may work with IPSAS as preparers or users of financial statements.
Patrice Schumesch is a Brussels-based partner with over 20 years of experience in international accounting. He chairs the PwC global IPSAS technical working group whose objective is to form PwC views on IPSAS technical matters and to ensure high-quality application of IPSAS throughout the PwC network. Within PwC Belgium, Patrice is leading a team of professionals full-time dedicated to advising governments and other public sector organizations either applying or transitioning to IPSAS or accruals-based standards based on IPSAS.
In addition to his role at PwC, Patrice is an associate professor in the department of finance and law at HEC Management School - University of Liege, where he teaches international accounting and consolidation.
Jan De Laet is the director leading, with Patrice, the public finance and accounting team of PwC Belgium. In that capacity he is driving the IPSAS service delivery to several international public sector organizations and governments. He regularly provides expert advice and practical guidance on the various aspects of conversion projects: diagnostic, gap analysis and roadmap to implementation, assistance for the conversion process and restatement exercises, training and embedding.
His experience also includes facilitating IPSAS workshops for finance and non-finance staff that are tailored to the specific needs of public sector entities.
Anton De Greef is an experienced director in the public finance and accounting team of PwC Belgium. He has recognized technical expertise in IPSAS and acts as trusted advisor of various prestigious public sector institutions. He accompanied several transition projects leading to the preparation of accrual-based IPSAS financial statements. His extensive experience of IPSAS translates into pragmatic advice for the accounting of complex transactions and the implementation of accounting and other embedding solutions that are robust and sustainable.
Before he joined PwC, Anton was chief financial officer of a real estate company.