IPSAS Implementation

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IPSAS Implementation Support

With our IPSAS Implementation Support Services, we seek to provide hand-holding support to desiring clients in the practical implementation of the provisions of IPSAS requirements.

The process starts with the conduct of a Gap Analysis to identify the difference between the intended intended accounting system and current accounting practice of the entity. We then develop an Implementation Roadmap, which typical involves: Domestication of the NCoA; GL Set-up; Opening Balances; Project Management and Go-Live.

IPSAS Implementations involve more than a straight-forward implementation of another accounting standard. It may have an impact on your entire organization. The accounting and disclosure gap analysis is the starting point and drives the impact assessment in other areas. PAACO-PCL’s approach involves the following:

  1. Question 1

    What are the key accounting and disclosure differences between local GAAP and IFRS?

  2. Question 2

    What is the estimated (directional) impact on the bottom-line results, if reported under IFRS?

  3. Question 3

    What is the impact on systems and processes – quick fix or major overhaul?

  4. Question 4

    Who is impacted by the conversion and what are their communication and training needs?

  5. Question 5

    What would a high level conversion plan look like and what is the likely impact on resources?

Our Implementation Support is highly participatory working closely with staff of the clients in other to ensure smooth knowledge transfer

PAACO-PCL Consortium

Our commitment is to use our understanding of our  clients’ needs and environment to identify global leading practices that will help clients at all tiers of government to realise full implementation of IPSAS in Nigeria

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