The Canadian Government launched a supportive initiative on September 6, 2006, to support the International Public Sector Accounting Standards Board (IPSASB) which opened recently in Canada by donating one million dollars.
The President of the International Federation of Accountant (IFAC) Graham Ward stated "We very much appreciate the commitment of the Canadian Government and the Canadian Institute of Chartered Accountant (CICA) to the International Public Sector Accounting Standards Board (IPSASB). Together with our Canadian partners and others throughout the world, the IPSASB can continue to improve financial reporting in the public sector and thus contribute to better financial decision making and financial management by governments,"
On the other hand Kevin J. Dancey, FCA, CICA President and CEO of CICA pointed out "We are very pleased to have IPSASB based in Toronto. It is a huge vote of confidence in Canada's standard-setting abilities.
IFAC is the worldwide organization for the accountancy profession dedicated to serve the public interest by strengthening the profession and contributing to the development of strong international economies.
The IPSASB is an independent standard-setting board of the International Federation of Accountants (IFAC), it focuses on the accounting and financial reporting needs of national, regional and local governments, related governmental agencies, and the constituencies they serve through the development of high quality International Public Sector Accounting Standards.
For more information please visit the following website: www.ifac.com
,