In last week’s article, we began a discussion of the main points contained in the 2025 International Monetary Fund (IMF) Article IV Consultation Report. So far, we examined the comments of the ...

Nicholas Mokoena, deputy business unit leader at the Auditor-General, told the Standing Committee of Public Accounts (Scopa) on Tuesday that the Road Accident Fund (RAF) has accumulated a deficit ...

IPSAS 42 only considers liabilities where the ... The fund’s accumulated deficit was R25.5 billion in 2023/24, up from R23.9 billion the year before. “These factors are indicators that RAF ...

The overall fiscal deficit narrowed to 1.5 percent of GDP in FY23/24 from 6.2 percent of GDP ... The authorities are implementing the IFMIS system in the Ministry of Finance, moving to IPSAS in the ...

The financial statements have been prepared in accordance with International Public Sector Accounting Standards (IPSAS ... Adjusted budget as of June 2022 for 1,5 billion US$ (including needed ...

“In applying Ipsas 5, reporting entities shall follow the benchmark treatment set out in Ipsas 5,14 and expense all borrowing costs. This means that the alternative treatment to capitalise ...

IPSAS under The Cash Basis Of Accounting The cash basis of accounting ... Government Financial Reporting Standards (IGFRSs)’. So far, GASAB has approved 5 IGFRS and all are under consideration of the ...

The new pronouncement in Amendments to IPSAS 5, Borrowing Costs – Non-Authoritative Guidance adds implementation guidance and illustrative examples to IPSAS 5. The new material shows how the existing ...

4. Enhance comparability Entities will be able to compare their performance to those of similar entities around the world since the accounts prepared under IPSAS are standardized. 5. Attracts ...

The International Public Sector Accounting Standards Board (IPSASB), an independent standard-setting board within the International Federation of Accountants (IFAC), is seeking comments on its ...