Myanmar’s Office of the Auditor General of the Union (OAG) has launched virtual training opportunities on International Public Sector Accounting Standards (IPSAS) and International Financial Reporting Standards (IFRS). As the OAG continues plans to transform the government accounting system from a cash to accrual basis, IPSAS training is essential. Understanding IFRS requirements is equally important, as all public interest entities, State-owned economic enterprises, and small- and medium-sized organizations are to be IFRS compliant beginning in the 2022-2023 financial year.
The OAG successfully launched the first IPSAS basic level class on February 29, 2020. However, due to the COVID-19 Pandemic, in-class instruction abruptly ceased, and the class migrated to a virtual environment. The transition to an online venue resulted in an increase in course participants (from 100 to 245 staff from OAG headquarters, various regional audit offices, Ministry of Planning, Finance and Industry, and Ministry of Education, which is piloting financial statement preparation in line with IPSAS cash basis accounting). The IPSAS course, which runs through December 27, 2020, provides participants with 147 lecture hours focusing on applicable private and public sector accounting standards and IPSAS cash and accrual basis requirements.
The first IFRS lesson was livestreamed May 26, 2020, to 80 OAG participants. The five-month course includes 120 lecture hours to improve IFRS knowledge, understanding and analytical skills.
The courses, modeled on “training for trainers,” enhance IPSAS and IFRS implementation and compliance, as participants will disseminate knowledge gained through course instruction within respective departments and regions. These courses greatly contribute to the accounting system transition as well as OAG capacity development.