In a significant move toward accounting clarity and better financial management, the General Assembly of the United Nations has resolved to adopt International Public Sector Accounting Standards and shift from partial accrual to full accrual accounting.The effects of the change will ripple around the globe, as governments recognize the authority of the international standards.
Jayantilal M. Karia, U.N. director of accounts in the Office of Programme Planning, Budget and Accounts, said, "Adoption of IPSA standards into the U.N. system organizations is expected to provide uniform accounting policies and financial reporting across the U.N. system."
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