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Jordan to adopt IPSAS

Jordan's government has passed a law for the implementation of International Public Sector Accounting Standards (IPSAS), according to local media.

Jordan Finance Ministry Secretary general Ezzeddine Kanakrieh told state owned news agency Petra that his ministry prepared a gradual action plan for applying IPSAS. He said the decision aimed at boosting transparency in government financial accounts and simplify the process of decision making in the use of financial resources.

Jordan is the latest Middle Eastern country to commit to IPSAS adoption. Other countries in the region which have adopted or are looking to adopt either cash based IPSAS or accrual based IPSAS are: Lebanon, Kuwait, Saudi Arabia, Israel, United Arab Emirates and Yemen, as well as the Palestinian Authority.

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