RE: International Public Sector Accounting Standards workshop

Your organisation is kindly invited to a one-day workshop on the ‘International Public Sector Accounting Standards’ (IPSAS). The workshop is scheduled for 13th February, 2020. The fee for attendance are M1, 500.00 for Members and M2, 000.00 for Non-Members. The details of the venue will be communicated at a later stage.

Lesotho Institute of Accountant (LIA) is a regulator of the accounting profession in Lesotho. It was established by an act of parliament; Accountants Act No. 09 of 1977 as amended. The main mandate of the Institute is to ensure that there is an effective accounting profession in Lesotho by providing guidance on education of those who aspire to be accountants and by ensuring that those who have qualified as accountants and wish to practice accounting are subjected to a code of ethics and are up-to-date with new developments in accounting standards, also are held to a high professional standard.

To ensure the members remain relevant and abreast of latest development within the profession, LIA has arranged a workshop on IPSAS. The objective of the workshop is to specifically focus on the following topics:

• IPSAS 17 – Property, Plant & Equipment
• IPSAS Cash Basis – Introduction to Standard and Financial Reporting under Cash Basis
• IPSAS 33 – First-time adoption of Accrual Basis
• Amendments existing to the standards
• Highlight on the exposure drafts.

Please find attached details of the workshop coverage.

We request your organisation to kindly confirm participation with the number of participants by Friday, the 07^th February, 2020.

For additional information please don’t hesitate to contact Talima Thaabe at talima.thaabe@www.lia.org.ls, or +266 22312115, or Lebohang Ramoholi at lebohang.ramoholi@www.lia.org.ls.

Regards

____________________

Monyaola Mosoloane CA (L)

CHIEF EXECUTIVE OFFICER

WORKSHOP OVERVIEW

The training aims to equip the participants with the set of accounting standards issued by the IPSAS Board for the use by public sector entities around the world in the preparation of the Financial Statements. IPSAS are accounting standards for application by national governments, regional governments, local governments and related governmental entities (eg. Boards and Commissions). IPSAS are widely used by intergovernmental organizations or institutions. These standards are based on the International Public Sector Accounting Standards (IPSAS) issued by the International Public Sector Accounting Standards Board (IPSASB).

The standards (IPSAS) aims to improve the quality of the general-purpose financial reporting by the public sector entities, leading to a better informed assessments of the resource allocation decisions made by governments, thereby increasing transparency and accountability.

Also, Lesotho is a member of ESAAG (East and Southern African Association of Accountants General), and the aim of ESAAG member state include the adoption of the accrual-basis IPSAS, as a result the application of IPSAS needs to be clear and understood by users.

KEY LEARNING OUTCOMES

By the end of the workshop, participants will be able to:

• Understand the setting process in International Public Sector Accounting Standards (IPSAS) and the list of the currently available standards
• Explain the most recent updates on the above-mentioned IPSAS and evaluate the effect of newly issued standards
• Determine the correct presentation and minimum disclosure
• Appraise and properly account for the transactions affected by the above-mentioned IPSAS

The facilitator of the workshop will be  Mr Elliot Chatima.

ACCA, ACA (England & Wales), ACMA, CGMA, CPA (Z), BSC, AIBZ

Elliot Chatima is a member in good standing for the Association of Chartered Certified Accountants (ACCA), a Chartered Management Accountant with CIMA and a Chartered Global Management Accountant (CGMA). He is also a Chartered Accountant of England and Wales (ICAEW), has a Bachelor of Accounting degree from Oxford Brookes University and is a member of the Institute of Bankers of Zimbabwe (IOBZ) a member in good standing for CPA Zimbabwe. Elliot is currently studying towards a Master’s of Science in Finance and Investment majoring in mergers and Acquisitions and Private Equity with London School of Business and Finance (LSBF).

Elliot has held several managerial positions ranging Finance Manager, Corporate Finance Manager, he is currently a Managing Director at NPBA, and Senior Partner at INVECTUS International.  Elliot is responsible for Zimbabwe and Zambian market he is a Chief Consulting Offer at Falcon International. Elliot has also worked for Crowe Global as a Partner and Moore Stephens affiliated firms as Audit Practice manager.  He has had a four year stint at the office of the Auditor General Zimbabwe and is currently an IPSAS expert having done IPSAS for SACDC, COMESA as well as being the Key expert in the IPSAS training at the Ministry of Finance Zimbabwe.

Elliot’s portfolio of experience range from Banking and financial services, Public sector, Construction, Manufacturing, pharmaceuticals, retail and ICT industries gained over 15 years. Elliot is an IFRS and IPSAS Expert in Africa and has done implementation and review for the Southern Africa Development Community (SADC), has done a review of the financial reporting frame work for COMESA recommending the adoption of IPSAS. He is a public sector expert and a corporate Governance trainer.  He has trained IPSAS for;

1.       The government of Zimbabwe IPSAS Pilot Implementation-National Champion;

2.       Southern Africa Development Community IPSAS Implementation review;

3.       ESAMI IPSAS Training Across Africa;

4.       City of Mutare (Current Implementation and Training).

5.       CPA Zimbabwe-Developed Curriculum for IPSAS certification;

6.       Developing IPSAS and Public sector Module.

Elliot is a registered Estate administrator and has a right to perform judicial management and liquidation assignments and corporate advisory and Infrastructure development consulting and corporate rescue.  He is also a trainer an ESAMI Accredited trainer covering Mozambique, Malawi, Kenya, Namibia, Uganda, Zambia and Tanzania, Kenya. Elliot is a CIMA Global accredited Trainer of the CIMA CFO program and has trained more than 50 CFOs in Zimbabwe. He is an NED for NPBA.