The Government of Jordan Adopts the Application of IPSAS

The Government of Jordan Adopts the Application of IPSAS

Abu-Ghazaleh: We congratulate the Government for taking this decision and all our capabilities are at its service 

AMMAN-------September 2, 2015------HE Dr. Talal Abu-Ghazaleh, Chairman of the International Arab Society of Certified Accountants (IASCA), congratulated the Government of Jordan for adopting and applying the International Public Sector Accounting Standards (IPSAS), stating that the Societys capabilities and experience are at the services of the Government.

Dr. Abu-Ghazaleh stated that IASCA, under a memorandum of understanding with the Ministry of Finance, will support the implementation of this decision by holding training workshops, training courses and professional publications on the application of IPSAS in the public sector. HE also indicated IASCAs intent to inform the International Federation of Accountants (IFAC) of this decision.

HE Dr. Umayya Touqan, Minister of Finance, recommended the Government of Jordan to start the project of applying IPSAS in the public sector pointing out the importance of this step in enhancing the financial and economic stability of Jordan, improving the quality of financial reports, strengthening transparency in the Government practices, and enhancing accountability, thereby improving the governance in the public sector and raise Jordans rating level by the international financial agencies.

Jordan, with this step, became the first Arab country in the region that implements these standards which are issued by the IFAC and IASCA translates them into Arabic, distributes, and gives training.