IPSAS are credible, high-quality, independently produced accounting standards, underpinned by a strong due process and supported by Governments, professional accounting bodies, and international organizations. These standards are specifically tailored to the public sector and integral to UN management reform.
2 IDB.32/12 Introduction 1. The objective of this paper is to inform the Board of the impact of the adoption of International Public Sector Accounting Standards (IPSAS) on UNIDO, in particular on the financial statements and budgeting, and to seek the Board’s agreement in principle to adopt IPSAS by 1 January 2010. 2.  Through a General Assembly resolution, member states requested UN organizations to adopt International Public Sector Financial Reporting Standards (IPSAS) to enhance the quality of organizational-level financial reporting by ensuring improved transparency, accountability and governance. Adjustments to UNICEF’s Statement of Financial Position were made and the impact of the transition to IPSAS is outlined in the note to the financial statements entitled “Transition to IPSAS”. A summary of our significant accounting policies can be found in Note 2 of our December 2012 financial statements. 1 A Message from the Director-General I am pleased to announce that WHO has successfully implemented the International Public Sector Accounting Standards (IPSAS) for financial accounting and reporting. This is a significant achievement for WHO and raises further the standard of financial reporting. A key goal of the WHO Reform is to improve managerial accountability, internal controls and the dissemination of financial information to stakeholders. Improvements in the accounting and reporting of financial information arising from IPSAS implementation have facilitated the achievement of this goal. With the adoption of IPSAS, Member States and contributors can rely on WHO’s financial statements adhering to the highest international standards of accoun 11 e 1expects to realize a wide range of benefits from IPSAS. United Nations system organizations, including UNICEF, had prepared their financial reporting in accordance with United Nations Systems Accounting Standards (UNSAS) since 1993. Adjustments to UNICEF’s Statement of Financial Position were made and the impact of the transition to IPSAS is outlined in the note to the financial statements entitled “Transition to IPSAS”. A summary of our significant accounting policies can be found in Note 2 of our December 2012 financial statements. International Public Sector Accounting Standards (IPSAS) are a set of independently produced financial reporting standards: • Designed to apply to Public Sector and not-for-profit entities for preparation of general purpose financial statements. Since the early 1990s, United Nations system organizations have applied the same accounting standards – UNSAS. Now the decision has been made to move forward together and adopt IPSAS. The United Nations System is a diverse group of organizations, committed to consistent, high quality financial reporting. 3 Policy Guidance Manual Following the recommendation of the High-Level Committee on Management in 2005, UNESCO and other UN system organizations have been working towards implementation of International Public Sector Accounting Standards (IPSAS). 4 purpose oF this manual This manual is intended to establish and give policy, practice and guidance on the application of IPSAS. It is not exhaustive and therefore should be used as a tool to complement the standards and other professional accounting pronouncements. International Public Sector Accounting Standards (IPSAS) are a set of accounting standards issued by the IPSAS Board for use by public sector entities around the world in the preparation of financial statements. 1 Accounting standards are based on French GAAP for the private sector, IFRS and IPSAS. 2  Standards are issued by the Conseil de normalisation des comptes publics (Advisory council on public sector accounting standards). IPSAS are credible, high-quality, independently produced accounting standards, underpinned by a strong due process and supported by Governments, professional accounting bodies, and international organizations. These standards are specifically tailored to the public sector and integral to UN management reform. Adjustments to UNICEF’s Statement of Financial Position were made and the impact of the transition to IPSAS is outlined in the note to the financial statements entitled “Transition to IPSAS”. A summary of our significant accounting policies can be found in Note 2 of our December 2012 financial statements. At its sixtieth session, the General Assembly of the United Nations approved the adoption of International Public Sector Accounting Standards (IPSAS) for its financial statements. In addition, the governing bodies of four United Nations specialized agencies have approved the adoption of IPSAS. 
http://www.un.org/esa/coordination/pdf/impact_of_adopting_ipsas_(unido-2006).pdf http://www.unicef.org/publicpartnerships/files/UNICEF_moves_to_IPSAS.pdf http://www.who.int/about/resources_planning/ipsas-en.pdf http://www.unicef.org/publicpartnerships/files/UNICEF_moves_to_IPSAS.pdf http://ipsastraining.un.org/Course%201/c/resources/Course%20CBT%201_%20Orientation%20to%20IPSAS%20_%20Participant_s%20Guide.pdf http://unesdoc.unesco.org/images/0018/001869/186938e.pdf https://en.wikipedia.org/wiki/International_Public_Sector_Accounting_Standards http://www.unicef.org/publicpartnerships/files/UNICEF_moves_to_IPSAS.pdf http://www.ilo.org/wcmsp5/groups/public/---ed_norm/---relconf/documents/meetingdocument/wcms_gb_297_pfa_6_en.pdf
un applying ipsas: the cost and benefits