Public Sector Financial Reporting and Compliance Training Course

Participants can select and justify appropriate reporting bases and accounting-policy judgments using IPSAS concepts.

• IPSASB Conceptual Framework objectives of financial reporting and accountability assessed
• Accrual basis and cash basis reporting requirements compared
• Elements of financial statements identified: assets, liabilities, revenue, expenses, ownership contributions
• Recognition criteria applied to uncertain rights, obligations, and service potential
• Measurement bases compared: historical cost, market value, replacement cost, fulfilment value
• Accounting-policy hierarchy applied when no specific IPSAS addresses a transaction

Participants can design accounting-policy documentation and reporting schedules linked to ledger accounts.

• Accounting-policy register structured by standard, transaction type, judgment, and evidence
• Chart-of-accounts mappings linked to statement lines, notes, and disclosures
• Year-end reporting pack built from trial balance and supporting schedules
• Journal-entry controls defined for adjustments, approvals, reversals, and documentation
• Opening-balance review procedures applied after accounting-policy changes and corrections
• Working-paper cross-references established between ledgers, schedules, statements, and notes

Participants can reconcile approved budgets, appropriations, commitments and financial statement balances.

• Appropriation, allotment, commitment, obligation, and expenditure terms differentiated
• Budget-to-actual reconciliation built using approved, revised, and actual amounts
• Cash-basis budget data reconciled with accrual-based financial statement balances
• Material budget variances analysed using price, volume, timing, and classification drivers
• Budget comparison disclosures prepared under applicable IPSAS or national requirements
• Unauthorised expenditure, excess commitments, and virement breaches documented for reporting

Participants can account for taxes, transfers, grants and other non-exchange revenue transactions.

• Tax revenue recognition assessed using taxable events, enforceability, and collectability evidence
• Transfers distinguished from exchange transactions, ownership contributions, and agency arrangements
• Grant conditions analysed for present obligations, liabilities, and revenue timing
• Restrictions and conditions separated when evaluating deferred revenue treatment
• Receivables measured, impaired, and disclosed using expected collection evidence
• Revenue schedules reconciled to billing systems, treasury records, and general ledger

Participants can record expenditure, accruals and payables while maintaining commitment-control evidence.

• Expenditure cut-off tested using goods receipt, service completion, and invoice dates
• Accounts payable reconciled to supplier statements, ageing reports, and ledger balances
• Accrued expenses estimated from contracts, payroll data, utilities, and service records
• Commitment registers reviewed against purchase orders, contracts, and available appropriations
• Prepayments allocated using consumption patterns and reporting-period service benefits
• Procurement compliance evidence linked to expenditure approval and payment controls

Participants can account for public-sector property, infrastructure, depreciation and impairment decisions.

• Asset recognition assessed using control, service potential, and reliable measurement
• Infrastructure components identified for depreciation, replacement, and impairment assessment
• Capital expenditure separated from repairs, maintenance, and operating expenditure
• Depreciation methods matched to asset consumption and remaining useful lives
• Revaluation accounting documented through valuation evidence, reserves, and disclosures
• Heritage assets assessed where measurement or service potential remains uncertain

Participants can measure and disclose employee benefits, provisions, contingent liabilities and contingent assets.

• Short-term employee benefits accrued from payroll records and entitlement calculations
• Long-term leave obligations measured using actuarial assumptions and discount rates
• Defined-benefit pension obligations distinguished from defined-contribution plan expenses
• Provision recognition tested against present obligations, probability, and reliable estimates
• Contingent liabilities evaluated for disclosure without inappropriate liability recognition
• Legal claims register reconciled with provisions, contingencies, and legal counsel evidence

Participants can classify and report financial assets, liabilities, borrowing costs and guarantees.

• Cash, receivables, investments, and borrowings classified under applicable financial-instrument requirements
• Effective interest method applied to loans, premiums, discounts, and transaction costs
• Impairment indicators assessed for receivables, loans, guarantees, and investments
• Government guarantees evaluated for recognition, measurement, disclosure, and monitoring
• Foreign-currency transactions translated using transaction-date and reporting-date exchange rates
• Debt disclosures prepared for maturity, interest-rate, currency, and liquidity risks

Participants can determine control and prepare consolidation adjustments for public-sector groups.

• Control assessment documented using power, benefits, and ability-to-direct criteria
• Controlled entities distinguished from associates, joint arrangements, and agency relationships
• Consolidation scope established for ministries, entities, funds, and public corporations
• Intra-group receivables, payables, revenue, expenses, and transfers eliminated
• Uniform accounting policies assessed before combining controlled entity financial information
• Non-controlling interests and related-party disclosures prepared from ownership records

Participants can assemble primary financial statements and organise supporting notes for review.

• Statement of financial position classified by current and non-current balances
• Financial performance statement prepared using revenue, expense, and surplus classifications
• Changes in net assets or equity reconciled through recognised movements
• Note disclosures organised using accounting policies, judgments, balances, and commitments
• Comparative information reviewed for consistency, reclassification, and restatement requirements
• Cross-casting and cross-referencing checks applied before draft statement review

Participants can prepare cash flow statements and liquidity disclosures from accounting records.

• Operating, investing, and financing cash flows classified under IPSAS requirements
• Indirect cash flow method reconciled from surplus, non-cash items, and working capital
• Treasury cash balances reconciled to bank statements, cashbooks, and ledger accounts
• Restricted cash and cash equivalents identified for presentation and disclosure
• Liquidity risk disclosures built from contractual maturities and funding arrangements
• Cash flow statement reviewed against movements in financial position balances

Participants can manage a controlled year-end close using reconciliations, adjustments and review evidence.

• Close checklist sequenced from ledger freeze through approval and publication
• Balance-sheet reconciliations prepared with source evidence, ageing, and reviewer sign-off
• Suspense accounts investigated using transaction tracing and root-cause analysis
• Adjustment journals supported by calculations, approvals, narratives, and account mappings
• Post-close events evaluated for adjustment or disclosure before authorisation
• Management review controls evidenced through variance analysis and certification records

Participants can assess financial reporting controls and document actions for identified compliance risks.

• COSO control components applied to public-sector financial reporting processes
• Risk-control matrices built for revenue, payroll, procurement, assets, and close
• Preventive and detective controls distinguished through process walkthrough evidence
• Segregation-of-duties conflicts identified within purchasing, payments, and journal processing
• Control testing plans specify population, sample, evidence, exceptions, and conclusions
• Compliance breaches escalated through remediation owners, due dates, and follow-up tracking

Participants can prepare audit evidence, respond to findings and track corrective actions.

• Audit request lists converted into evidence plans and responsible owners
• Assertions framework applied to existence, completeness, valuation, rights, and presentation
• Supporting evidence evaluated for reliability, relevance, source, and retention
• Audit differences analysed for factual, judgmental, projected, and disclosure effects
• Management responses drafted with root causes, corrective actions, and deadlines
• Prior-year findings tracked through evidence of closure and residual-risk assessment

Participants can connect financial statements with credible performance and service-delivery information.

• Performance measures linked to programme objectives, outputs, outcomes, and budget resources
• Indicator definitions specify numerator, denominator, source, frequency, and accountable owner
• Data-quality controls tested for completeness, accuracy, timeliness, and traceability
• Financial and non-financial information reconciled for consistent public reporting
• Service-delivery variances explained using operational evidence and financial consequences
• Performance disclosures reviewed for balance, reliability, and statutory reporting requirements

Participants can perform a structured review of draft reports and correct material reporting errors.

• Analytical review compares current balances, trends, ratios, and budget variances
• Disclosure checklist tests required policies, judgments, commitments, and related parties
• Errors distinguished between current-period adjustments, prior-period errors, and estimate changes
• Prior-period corrections prepared with restated comparatives and explanatory disclosures
• Materiality assessment considers financial magnitude, compliance significance, and public sensitivity
• Reviewer comments resolved through evidence, preparer responses, and documented conclusions

Participants can establish reporting governance, quality review routines and improvement priorities.

• Financial reporting governance defines preparer, reviewer, approver, and oversight responsibilities
• RACI matrix assigned for schedules, statements, disclosures, audit, and publication
• Key performance indicators monitor close duration, reconciliations, adjustments, and audit findings
• Root-cause analysis prioritises recurring errors, control failures, and capability gaps
• Corrective-action plans specify milestones, resources, evidence, and escalation routes
• Reporting maturity assessment identifies practical improvements for the next reporting cycle

Participants can build, review and present a complete annual financial reporting and compliance pack for a public entity.

• Reporting entity profile, accounting policies, and material judgments documented
• Adjusted trial balance converted into primary statements and supporting notes
• Revenue, asset, liability, and consolidation schedules reconciled to ledger evidence
• Budget comparison, cash flow statement, and performance disclosures completed
• Compliance checklist, control assessment, and audit evidence index assembled
• Management presentation explains key judgments, risks, misstatements, and corrective actions