News
Abu-Ghazaleh: Publication of the Arabic Version of the IPSAS 2021
31-Jan-2022
AMMAN - HE Dr. Talal Abu-Ghazaleh, chairman of the Arab Society of Certified Accountants (ASCA-Jordan), announced the publication of the translated Arabic version of the IPSAS for 2021.
Dr. Abu-Ghazaleh pointed out that ASCA always seeks to develop accounting and management as well as the relevant disciplines and principles that apply to all or some professional services. He also underlined ASCA’s keenness to develop the level of competence, practice, and performance to attain the highest professional levels through its interest in the accounting publications, and by following all the new trends in accounting and auditing fields.
Dr. Abu-Ghazaleh stated that what is new in this version is the approval of the International Public Sector Accounting Standards Board® (IPSASB®) of the unauthoritative amendments to IPSASB 41 “Financial instruments and Covid-19:” Deferral of effective dates” in 2020.
These are the most prominent amendments in IPSAB 41:
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Unauthoritative amendments to IPSASB 41 “Financial instruments” (Issued in December 2020).
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COVID-19: Deferral of effective dates” (Issued in November 2020).
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Long-term interests in associates and joint ventures (Amendments to IPSAS 36), Prepayment Features with Negative Compensation (Amendments to IPSAS 41, issued in January 2019).