Practical Implementation

IPSAS / GRAP / MCS AFS compilation and preparation support

March 25, 2018


We can assist with AFS preparation support to entities on IPSAS (Internatioanl Public Sector Accounting Standards),  Modified Cash Standards (PFMA entities) and GRAP (South African Schedule 3A & 3C entities, Municipalities, certain Legislatures, Constitutional Entities, FET Colleges, etc.) as part of their year-end Annual Financial Statement processes, e.g.:

GRAP / IPSAS AFS preparation support

Apart from our core support and focus in the preparation of AFS and Fixed Asset Registers, we can also provide our updated AFS template, with accounting policies, to assist entities with the compilation of the accounting information within an updated GRAP / IPSAS frameworks.

This is supported by our IPSAS / GRAP Implementation Manual which sets out detailed prescribed GRAP / IPSAS accounting treatment (recognition, measurement, presentation & disclosure), with standard operating procedures (actions, responsible parties, and target dates). The IGIM is the culmination of the latest legislation & accounting pronouncements, circulars, directives, NT guides, GRAP challenges as per the AGSA Audit Reports and our practical public sector experience.