IPSAS IMPLEMENTATION PROCESS IN NATO - HISTORICAL CONTEXT, CHALLENGES, ASSESSMENT AND DEVELOPMENT DURING THE LAST TWO DECADES
Keywords:
NATO, IPSAS, NATO Accounting Framework, Head of Financial Reporting Policy (HFRP)Abstract
Ten years of historical experience in using the NATO Automated Financial System (NAFS), together with the transition to the implementation of the Financial Service (FinS) system in order to establishment International Public Sector Accounting Standards (IPSAS) in NATO, is a useful basis for studying financial accounting practices of such a large and specific international organization.
Relevant lessons can provide good guidelines for approaching the implementation of similar solutions for the creation, processing and maintenance of financial and accounting information in other large (including transnational and transcontinental) organizations operating with public resources.
A brief historical overview of IPSAS implementation in NATO is provided in this paper. This is accompanied by a critical point of view at some of the difficulties and challenges that characterized this process, as well as an overall assessment of the compliance of NATO bodies' financial statements and accounting policies as reporting entities with adapted (for Alliance purposes) IPSAS.
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