International Public Sector Accounting Standards (IPSAS)

International Public Sector Accounting Standards (IPSAS) are a set of globally recognized rules that guide how government organizations and public sector entities prepare financial statements. They ensure transparency, consistency, and accountability by standardizing accounting practices across different regions. IPSAS helps stakeholders, such as citizens and policymakers, understand public sector finances accurately and comparably, supporting better governance and decision-making. These standards are developed by the International Public Sector Accounting Standards Board (IPSASB) and are based on principles similar to those used in private sector accounting but tailored for the unique aspects of public sector entities.