International accounting standards to clarify debt position – ZICA

ADOPTION of an International Public Sector Accounting Standards (IPSAS) will help resolve arguments surrounding the size of the country’s loan books as all borrowings will be recorded on the balance sheet, Zambia Institute of Chartered Accountants (ZICA) has said.
ZICA president Jason Kazilimani said the institute is encouraging Government to adopt the IPSAS as a financial reporting framework.
Mr Kazilimani said at the ZICA quarterly brief on national matters for the second quarter on Tuesday that in 2010 the institute invited officials from Uganda to share their experiences in the implementation of IPSAS.
“We made the IPSAS a key agenda item so as to regularly check where we are on this important matter. Effective dates of implementation have been changing and most recently to 2022. It is our hope that we shall move steadily on the roadmap to READ MORE

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