The Arab Society of Certified Accountants (Jordan) Issues the Translated Arabic Version of IPSAS 2012

Amman- January 22th, 2013 - As a part of the professional responsibility of the Arab Society of Certified Accountants (Jordan) and its attempt to keep pace with the updates and developments in the fields of accounting and auditing, ASCA (Jordan) has issued the latest Arabic version of the International Public Sector Accounting Standards after being amended by IPSASB.

In 2011, the IPSASB finalized IPSAS 32, Service Concession Arrangements: Grantor. IPSAS 32 is effective for annual financial statements covering periods beginning on or after January 1, 2014.

A number of IPSASs were amended as a result of the IPSASB’s Improvements to IPSASs 2011 project. This project involves making necessary changes to IPSASs.

In addition, the text of the IPSASB’s Terms of Reference and the Glossary of Defined Terms have been revised.

It is worth mentioning that ASCA-Jordan continuously seeks to develop accounting and management sciences, as well as all related principles applicable to professional services. ASCA-Jordan also strives to improve competence and practice and strengthen the code of ethics in accordance with the highest professional standards through the issuance of accounting publications and following up on the recent developments in accounting and auditing.