THE INSTITUTE OF CHARTERED ACCOUNTANTS (GHANA)
1. Chartered Diploma in IPSAS
Overview
There is growing pressure on public sector entities the world over to prepare and present highquality transparent financial statements, apply clear and appropriate financial management
approaches for the purpose of enhanced operational allocation and utilization of public funds to
achieve economic growth and development.
The International Public Sector Accounting Standards Board (IPSASB) has issued International
Public Sector Accounting Standards (IPSAS) which provide a sounds basis for public sector entities
to demonstrate sound financial reporting using accrual accounting and budgeting techniques.
Course Objectives
This course summarizes the main recognition, measurement and disclosure requirements under
(IPSAS).
It explains current IPSAS pronouncements in detail from the perspective of practitioners. It also
compares main differences between IPSAS and IFRS.
Benefits
After the course, participants will
be able to explain the basic principles of IPSAS
Be able to explain the differences and similarities between IPSAS and IFRS
Become aware of the implications of applying accrual basis IPSAS for financial reporting
Be able to apply accrual basis IPSAS to prepare financial statements for public sector
entities
Be able to explain new developments in IPSAS
The course answers questions such as:
What are the recognition, measurement and disclosure requirements for preparation of cash
basis and accrual basis IPSAS compliant financial statements?
What practical issues often arise when an entity is implementing IPSAS?
What steps can an entity take to transition from cash basis IPSAS to accrual basis IPSAS?
And many more other questions.
Target Participants
The course will be suitable for the following category of qualified professional accountants, CA,
ACCA, CIMA, CPA, etc.
The course will particularly benefit officers responsible for financial reporting and their support
staff in public sector entities.
TEACHING METHODOLOGY
Interactive presentation format based on cases, examples, group work, and open discussions where
each participant will be aided to apply the principles and concepts in IPSAS to prepare financial
statements of their entities.
COURSE CONTENT
Introduction to IPSAS
Brief background and history of
IPSAS
The work of the IPSAS Board
(IPSASB)
Scope of IPSAS
Sources of guidance
Fundamental concepts of cash basis
and accruals basis accounting
The IASB’s framework as adapted to
IPSAS
Exposure drafts from the IPSASB in
developing its own conceptual
framework
Reporting & Disclosure
Cash basis IPSAS
Financial statements under the
cash basis IPSAS
IPSAS 1 Presentation of Financial
Statements
Required financial statements
Structure
Content of financial statements
IPSAS 2 Cash Flow Statements
Cash and cash equivalents
Operating, investing and
financing activities
IPSAS 3 Accounting Policies,
Changes in Accounting Estimates And
Errors
Changes in accounting
estimates
Changes in accounting policies
Correction of errors
IPSAS 14 Events after reporting dates
Non-current Assets
IPSAS 17 Property, Plant and
Equipment
Initial recognition
Subsequent measurement including
revaluation approach
Depreciation
Treatment of infrastructure and
heritage assets
IPSAS 16 Investment property
IPSAS 31 Intangible Assets
Examples of intangible assets in the
public sector?
Recognition of acquired intangible
assets
Research and development phase
Initial and subsequent measurement
IPSAS 21 & 26 Impairment of NonCash-Generating Assets &
Impairment of Cash-Generating
Assets
Impairment identification
Valuation approaches
Recognition
Impairment reversals
Disclosure requirements
IPSAS 11 Construction contracts
IPSAS 5 Borrowing cost
Revenues & Related Costs
IPSAS 9 Revenue from Exchange
Transactions
Accounting treatment for exchange
transactions
Comparison with the IASB’s
new revenue standard
IPSAS 23 Revenue from NonExchange Transactions (Taxes and
Transfers)
Recognition and measurement
of tax revenue
Recognition of revenue from
transfers
Reflecting conditions and
restrictions in the financial
statements
IPSAS 12 Inventories
Public sector entity inventories
Inventories held for sale
Inventories held for
distribution at no or nominal
charge
Liabilities and Expenses
IPSAS 19 Provisions, Contingent
Liabilities and Contingent Assets
Definitions
Recognition and measurement
Disclosures
IPSAS 25 Employee Benefits
Short and long-term benefits
Recognition, measurement of
pension obligations
Termination benefits
Comparison of IPSAS 25 with
IAS 19 revised
Financing and Financial Instruments
IPSAS 13 Leases
Identifying finance and
operating leases
Lessee and lessor financial
reporting requirements
Leases in outsourcing and
other service based
arrangements
Sale and leaseback
transactions
Comparison of IPSAS 13 with
the IASB’s latest leasing
proposals
IPSAS 32 Service Concession
Arrangements: Grantor
IPSAS 4 The Effect of Changes in
Foreign Exchange Rates
Identifying functional currency
Foreign currency transactions
Foreign operations
Financial Instruments
IPSAS 15 Financial Instruments
Disclosure and presentation
IPSAS 28 Financial Instruments
Presentation
IPSAS 29 Financial Instruments:
Recognition and Measurement
IPSAS 30 Financial Instruments:
Disclosures
Special features of financial
instruments in the public sector
Brief comparison of Financial
Instrument IPSASs with IFRS 9
Consolidations and Strategic Investments
IPSAS 6 Consolidated Financial
Statements - Accounting for
Controlled Entities
Concepts of public sector
control
Consolidation requirements
Determining whether control
exists
Comparison of IPSAS 6 with
IFRS 10
Accounting for business
combinations, mergers and
reorganisations by public
sector entities
IPSAS 7 Accounting for Investments
in Associates
Equity method of accounting
Cost method requirements
IPSAS 8 Financial Reporting of
Interests in Joint Ventures
Proportionate consolidation
Allowed alternative equity
method
Other Presentation &
Disclosure Standards
Other Presentation and
Disclosure Standards
IPSAS 18 Segment Reporting
Identifying reportable
segments
Required disclosures
IPSAS 20 Related Party Disclosures
Identification of related parties
and transactions
Disclosure requirements
Other reporting issues
IPSAS 24 Presentation of Budget
Information in Financial Statements
Required disclosures
Comparison of budget and
actual amounts
Material differences
Preparing and presenting
reconciliation of results under
IPSAS to budget basis
IPSAS 22 Disclosure of Financial
Information About The General
Government Sector
Purpose of the disclosures
Voluntary disclosures
IPSASB work on converging
IPSAS with statistical basis
reporting
IPSAS 10 Financial Reporting In
Hyperinflationary Economies
Transitioning to the Accrual Basis of
Accounting
Guidance on the transition
from the cash to the accrual
basis of accounting
Comparison of IPSAS
approach to that in IFRS 1 and
update on the IPASB project to
develop first time adoption
guidance
Transition requirements from
specific standards
Key issues
Alternate approaches allowed
Identifying and responding to
the change management
implications
IPSAS 27 Agriculture
2.
CHARTERED DIPLOMA IN FORENSIC AUDIT
Overview
The world has witnessed significant white-colour crimes with repercussions that transcend national
boundaries. These seem to have been caused by factors which are usually regarded as inherent in
the modern business transactions. The globalization of business operations facilitated by internet
technology has made it less challenging to perpetuate fraud. Forensic auditing has immerged as a
detection and preventive measure.
What it is about
The ICAG Chartered Diploma in Forensic Auditing seeks to combine accounting and auditing
principles to criminology and investigation to build a unique skill for the local market and beyond.
This is in response to the growing global need for professionals to assist with services not treated in
conventional accountancy training. The course therefore seeks to sharpen participants’ ability to
investigate fraud and other white-colour crimes, quantify such fraudulent activities and provide
expert advice on such matters.
Programme Objectives
The course seeks to develop participants’ ability to prevent, investigate and fight fraud in a
professional capacity. Upon completion of the course, participants would be able to:
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Understand the impact of fraud in the private and public sectors;
Implement anti-fraud policies to prevent frauds;
Use appropriate investigative techniques to investigate fraud with the view to providing
evidence in the court of law; and
Quantify losses suffered as a result of fraud and crime.
Target Participants
The course would be suitable for the following category of qualified professional accountants, CA,
ACCA, CIMA, CPA, etc.
PROGRAMME CONTENT
1. Fraud Prevention
The purpose of this module is to teach skills to formulate appropriate strategies for the prevention
of fraud.
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Motivating the need for fraud prevention
Definitions of economic crime
Corporate governance
Risk assessment
Internal control
Defining strategies for fraud prevention
Fraud prevention strategies
Policy
Human resources
Fraud auditing
IT (fire walls, data interrogation, virus protection)
2. Fraud Detection
The purpose of this module is to teach skills to formulate appropriate strategies for the detection of
fraud.
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Identifying fraud
Legal definitions and elements of offences
Practical examples
Red flags
Fraud detection strategies
Information Technology
Reporting lines (Whistle Blowers Act, etc.)
Auditing - surprise audits, internal and external
Theoretical and legal issues pertaining to fraud detection
Response to fraud
Evidentiary issues
3. Fraud Investigation
The purpose of this module is to teach skills in planning and execution of fraud investigations.
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Theoretical and legal issues pertaining to fraud investigations
Multi-disciplinary approach to fraud investigations
General legal issues
Forensic auditing process
Planning fraud investigations
Preliminary investigation
Execution phase (interviews, documentary evidence, etc)
Remedies and testimony (disciplinary, criminal and civil)
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Reporting (management, board and police)
Follow-up
4. Forensic and Investigative Audit Reporting
The purpose of this module is to teach skills in writing reports on fraud, using the professional and
academic conventions and formats appropriately.
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Types of reporting
Management
Board/Audit committee
Disciplinary action
Litigation support
Criminal process
Follow up and remedial action
An examination will be held to round off each of the courses.
Venue:
ICAG Accountancy House, on the UPSA-Trinity College road.
Duration:
A maximum of 10 Saturdays
Time:
8:00 am to 5:00 pm
Start Date: 4th October, 2014
Fee:
GH¢2,500
Registration Fee: GH¢50.00
For further enquiries, please contact:
Akua Afrakoma Ablordeppey
Tel: 0246482691, 0200500997
E-mail: memberservices@icagh. com; akua.frimpong@icagh.com
Website: www.icagh.com
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