Five ways IPSAS will transform Zimbabwe

The demand for transparency and accountability in the public sector continues to grow with an increasingly informed public. Zimbabwe once a vibrant and diversified economy is in the midst of an economic crisis, caused by cash shortages, corruption and lack of good corporate governance. The changing economic dynamics demand public sector entities to uphold high ethical conduct as well as to enact quality corporate governance structures.
The need for accountability and transparency has been a global issue, which necessitated the introduction of International Public Sector Accounting Standards (IPSAS). These standards are based on International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). IPSAS aims to improve the quality of general purpose financial reporting by public sector entities, leading to better informed assessments of the resource allocation decisions made by governments, thereby increasing transparency and accountability.

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About the Author : Fungai Margret Charumbira

Fungai is a Chartered Accountant in training, who is currently working at Chartered Accountants Academy Zimbabwe. She holds a Bcom Accounting Degree from the University of Johannesburg South Africa and also recently completed a Certificate of Theory in Accounting and Initial Test of Competence with the Institute of Chartered Accountants Zimbabwe. She is well vested with IFRS, IPSAS and Taxation. Contact her on fungai@caa.ac.zw.

2 Comments
  1. Ackson Mapfundematsva October 13, 2017 at 18:51 - Reply

    Thanks for the video informing us on the benefits

  2. charumbira May 5, 2018 at 16:27 - Reply

    thanks sister for explanation…

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