UN adopts accrual accounting

UN adopts accrual accounting

All agencies of global body to adopt IPSAS systems by 2010

A United Nations unit is coordinating the introduction of International
Public Sector Accounting Standards (IPSAS) accrual systems across all agencies
of the global body.

The UN Task Force on Accounting Standards is overseeing the development of
implementation timetables, which must see all UN agencies and branches adopting
IPSAS by January 2010, except for peacekeeping operations, which must comply by
July 2010.

A task force note said: ‘IPSAS was deemed appropriate as it addresses the
international and not-for-profit nature of UN system organisations’.

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