• Register
Return to: Home > News > Standards > Jordan makes first steps towards IPSAS implementation

Jordan makes first steps towards IPSAS implementation

The Jordanian Ministry of Finance (MOF) has set up work teams to identify the requirements and mechanism of transition from cash-basis accounting to accrual-based accounting in the country's public finances.

This follows last November's decision by the Jordanian Cabinet of adopting and implementing the International Public Sector Accounting Standards (IPSAS).

The International Arab Society of Certified Accountants (IASCA) will take part in the working groups which will look at each standard in order to prepare data and documents on implementation requirements.

The working group will focus their recommendations on: financial legislations, forms used for each standard, records used for these standards, the extend of appropriateness of the government financial information system to implement these standards.

In the past two years, IASCA played a key role in Jordan's adoption of IPSAS, holding various meeting with the MoF and cooperating with USAID on the Fiscal Reform Project II (FRP II).

FRP II is a five year project started in 2009 with a $38.5m budget. It aims at improving the Jordanian MoF's public financial management and fiscal policy in order to achieve macroeconomic stability and economic growth.

Top Content

    Addressing tax challenges and the digitisation of the economy

    As the economy becomes even more globalised through digital sources, the tax systems currently in place need to be scrutinised to examine whether they are still fit for current and emerging business models. Joe Pickard reports on the OECD’s approach to this issue.

    read more

    Primary financial statements: a game changer in reporting?

    International Accounting Standards Board chair Hans Hoogervorst delivered a speech at the Seminario International sobre NIIF y NIF, organised by the Consejo Mexicano de Normas de Información Financiera in Mexico. The Accountant presents the highlights.

    read more

    FASB readies standards for the netflix generation

    The US Financial Accounting Standards Board (FASB) has updated its accounting standard for entertainment, with a specific eye on keeping up to date with how episodic content, such as television programmes, is consumed in the modern world. Jonathan Minter reports.

    read more

    Brexit: why it takes two to tango

    Former TA editor Vincent Huck, now editor of Insurance Asset Risk, looks at why Brexit might unleash geopolitical intrigue in Europe’s accounting standard-setting scene – and why IFRS 17 will be an incredible source of opportunity for firms in the coming years.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.