Content tagged with Accounting and Financial Reporting

The High-level Committee on Management strategic plan for 2013-2016 identifies harmonization and simplification of business practices as a core activity. In this context, the plan focuses on common and shared services, including improved common procurement practices, and other initiatives to improve efficiency and effectiveness of the United Nations system.

The High-level Committee on Management reviewed current practices within the system for sharing information contained in internal audit reports through its finance and budget network. In that regard, initial criteria that could serve to guide the exercise were under consideration with a view to establishing a common approach to disclosure of information contained in internal audit reports.

The Board considered issues related to the disclosure of information contained in internal audit reports of United Nations system organizations in the light of the expectation of the international community that the system should be as accountable and as transparent as possible. The Board stressed that it was important for any disclosure policy to incorporate adequate criteria to ensure that the human and legal rights of the staff were respected, especially in connection with information contained in internal audit reports that have to do with investigations.

Evaluation; Regional coherence; Campaign to end violence against women and girls; Contribution of the United Nations system to the Economic and Social Council; Disaster risk reduction; Science and technology; International Public Sector Accounting Standards; Knowledge-sharing; Human resources; Procurement; Collaboration with the Joint Inspection Unit; Coordination among pillars of the United Nations System Chief Executives Board for Coordination

During the reporting period, system-wide support towards implementation of the International Public Sector Accounting Standards (IPSAS) had brought important activities to fruition. In particular, an 18-course training suite has been completed and made available to United Nations system organizations, some of which have already started to deliver courses based on the materials provided.

The adoption of the International Public Sector Accounting Standards (IPSAS) was recommended by the High-level Committee on Management to improve the quality, comparability and credibility of financial reporting across the United Nations system. In 2006, the General Assembly, by its resolution 60/283, approved the adoption of IPSAS by the United Nations. IPSAS are independently developed financial reporting standards that are considered best practice for public sector entities.

The inter-agency Procurement Network completed the first project funded under the Plan of Action, led by UNDP, which resulted in a Model Policy Framework for Vendor Eligibility for system-wide use. The procedure, which has been reviewed and approved by the inter-agency legal advisers, allows for the introduction of a common decision mechanism for the handling of suspect vendors. The Model Framework, which responds to the need for improved transparency, accountability and effectiveness in procurement, was approved by CEB at its spring 2011 session.

During 2010/11, the United Nations System Chief Executives Board for Coordination (CEB) intensified its efforts to align the strengths and expertise of its member organizations to respond to the mandates of Member States in a coordinated and effective manner. The adoption by the General Assembly of its resolution 64/289 has been an important directive for the United Nations system in further strengthening the coherence of its system-wide efforts, as detailed in the present report.

The United Nations system is increasingly using International Public Sector Accounting Standards (IPSAS) as an instrument to improve the quality of financial reporting, thereby increasing transparency and accountability. Twenty-four organizations of the United Nations system are now implementing IPSAS (with the Joint United Nations Programme on HIV/AIDS being the latest implementing organization). Thirteen organizations, with adoption dates ranging from 2012 to 2014, are currently in the process of IPSAS implementation.

Eight organizations (International Civil Aviation Organization, International Maritime Organization, International Telecommunication Union, Pan American Health Organization, UNESCO, United Nations Industrial Development Organization, World Intellectual Property Organization, and World Meteorological Organization) in addition to WFP, which has been IPSAS-compliant since 2008, were targeting IPSAS implementation as of 2010.

Since the adoption of the International Public Sector Accounting Standards (IPSAS)  in 2006 by the United Nations system through High-level Committee on Management (CEB/2006/3), 21 organizations have completed their IPSAS implementation successfully, with 10 of them issuing their first IPSAS-compliant financial statements for the year ended 31 December 2012 and obtaining unqualified audit opinions in 2013.

Financial Statistics is a collection of annual data from CEB member organizations on their revenue and expenditures. Using this data, revenues broken down by assessed and voluntary contributions can be shown. Also, expenditures at the country, regional and global levels and broken down by expenditure categories: development assistance, humanitarian assistance, technical cooperation, peacekeeping and normative activities.