International Public Sector Accounting Standards (IPSAS) Implementation Preparatory Committee – IIPC (1/2020) Meeting was held at the Meeting Room, the Office of the Auditor General of the Union, Nay Pyi Taw, at 10:00 AM on 23rd June, 2020.
Permanent Secretary from the Office of the Auditor General of the Union, Chair of the committee, Director Generals from the Departments of Budget and Treasury, Vice Chairs of the committee, Director General from the Office of the Auditor General of the Union, members of the committee , the respective members from Ministry of Education, Department of Planning, Myanmar Economic Bank and Central Bank of Myanmar and Deputy Permanent Secretary from the Office of the Auditor General of the Union, the Secretary of the committee attended the meeting.
In the meeting, regarding the transition to IPSAS from generally accepted accounting system, the processes to be implemented for IPSAS Transition Plan and Roadmap were discussed. Among the processes, they mainly discussed the required initial activities which are the adoption of IPSAS in the Public Finance Management Law (Draft) and the release of necessary notifications, the establishment of National Level Steering Committee, the prescription of account heads to be applied by Government Departments and Organizations, the reviewing and comparing of difference in reporting guidelines between IPSAS and Government Finance Statistics-GFS reporting guidelines the formation of Working Group to support the functions of the committee regarding the IPSAS Transition, and the current situation of conducting IPSAS and International Financial Reporting Standards (IFRS) online trainings.