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Promoting adoption of IPSAS in PALESTINE
Board Member / PACPA
Board member/ IASCA
Executive Director/ TAGI Palestine
January 21st 2017
Palestinian Association of Certified Public Accountants (PACPA)
Associate Member of IFAC, Member of the Arab federation of Accountants and Auditors
Palestinian Association of Certified Public Accountants
PACPA is an independent entity, was established in 1995
and was reformed according to the Auditing practice law
No. (9) for the year 2004
The current members : 255
Managed by 11 board members, 8 functional committees
and 3 permanent staff
PACAP jurisdictions are to renew the annual license to
practice, perform and monitor the members CPEs, quality
control and compliance with code of ethics
An associate Member of IFAC and Member of the Arab
Federation of Accountants and Auditors
PACPA’s main functional committees
- Continuous Education committee
- Research and bulletins committee.
- Public Relations Committee.
- Professional conduct committee.
- Membership committee.
- Disciplinary Committee.
- Quality Assurance Committee.
Board of Professional Auditing (BPA),
Consists of 7 members representing government,
regulatory bodies, universities and PACPA.
Issuing of licenses
Adoption of IFRS and other standards
All Listed companies and insurance companies: The laws and
regulations of the Palestine Capital Market Authority require all
insurance companies and listed companies to use IFRS for
maintaining their accounts and in preparing their financial
Banks and other financial institutions: The banking law and the
regulations of Palestine Monitory Authority require all banks
and financial institutions to use IFRS Standards.
Private companies mostly use the IFRS (but without strict
mentoring on the FS ( the new draft law has specified adoption
the IFRS – the law is not effective yet)
IFRS for SMEs are encouraged by PACPA to use the IFRS for
SMEs for the non public interest companies.
The Audit standard used the ISAs issued by IAASB- unless
required for other users requirements
Promoting IPSAS, through
1. Academic Education – universities
2. Coordination with the decision makers in the
3. CPE: Training programs to our members and to the
expected users of the IPSAS in the government
4. Making the IPSAS Arabic translation available
5. Exchanging knowledge and information with other
organization mainly the International Arab society
of Certified Public Accountants, IASCA
Communicating with most of the universities to
promote using the international standards as bases
in accounting education e.g., IFRS, ISA and IPSAS
most of them have revised their programs and some
already introduced the IPSAS in the curriculum e.g. ,
Palestine Technical University and Alquds University
Work shops and awareness lectures were organized
for the accounting program students in the campuses
MOUs were signed between PACPA and many
universities to achieve this object
Communicating with the governmental entities
explaining the advantages of the adoption of IPSAS in
developing financial statements e.g.
As a result The Ministry of Education and High
Education has issued its FS based on IPSAS for four
Providing the main entities with the support of IASCA
with the Arabic version of IPSAS
Including in the IPSAS training in the CPE required
hours from PACPA members
Designing training for the members and others
4- Arabic translation materials
With the support of IASCA the Arabic translation of
IPSAS are made available in PACPA, government
entities and universities …
5- Exchange knowledge with other
Participation in regional conferences and workshops
organized by other organizations related to the
adoption of the standards
Obtaining some information related to any technical
assistance, incase required
What is Next
We will continue to work on promotion to get an
official adoption of IPSAS in the government entities.
Letters are drafted to the, President, PM and minister
of finance recommending the adoption for improving
the governmental financial reporting
We think we are still in the beginning and more need
to be done