David Awuah Mensah, PwC, leading discussions on the IPSAS implementation project
The University of Ghana, in partnership with PricewaterhouseCoopers (Ghana) Limited (PwC), has rolled out a 3-month training in International Public Sector Accounting Standards (IPSAS) for staff in key administrative functions of the University of Ghana. The training seeks to prepare the staff to acquire knowledge and requisite skills to present transparent and accountable financial statements that meet international financial standards.
The IPSAS Project, recognized globally as the eminent high-quality accounting standards for public sector bodies, will augment the preparation of IPSAS-compliant financial statements, which includes validation and development of detailed accounting policies, procedures, and operational guidelines relating to the implementation of IPSAS at the University of Ghana.
The University has committed to adopt accrual basis IPSAS effective 31st December 2017 in line with its continued efforts to enhance financial reporting to all key administrative functions of the University covering Finance, Audit, Procurement, Estates, UGCS, ITS, HRODD, and Students Administration.
Over forty staff members took part in the first week of training, and a larger turnout expected in subsequent weeks of training. The training was done by David Awuah Mensah, a Senior Manager at PwC (Ghana) Limited. He took participants through far-reaching modalities on the application of IPSAS and underscored the significance of IPSAS to the University’s global financial outlook. He lauded the University for associating itself with the Project and encouraged all stakeholders to collaborate with each other to successfully implement the IPSAS Project.
Mr. Richard Boapea, Director of Finance and Project Director of IPSAS-UG, opened the training and urged all participants to exert themselves towards the project implementation, reiterating the importance of the project to the University and the nation as a whole. He noted that the University of Ghana is the first in Ghana to adopt the IPSAS form of reporting which is in line with its quest for internationalization and world class status. He indicated that through the IPSAS project, the University would have its financial reporting processes commensurate with international standards, accounts easily compared to other world class universities and to apprise stakeholders to have more trust in the University’s financial statements.
Officials of PwC and University of Ghana in a group photograph after the first day of training
