1. Strategy For IPSAS Implementation Nino Tchelishvili Deputy Head of the Treasury Service Washington DC 2010

9. Overview of six phase implementation strategy Phase Action Target 1 Initiation Strategy agreed; Georgian Public Sector Accounting Standards Board formed; translation IPSAS initiated 2010 2 Pilot Pilot financial statements under modified cash basis IPSAS 2012 3 Modified Cash IPSAS Gov’t consolidated financial statements (excluding GBEs) under modified cash IPSAS ( cash IPSAS + additional information) 2015 4 Some accrual Simple accrual information provided under modified cash IPSAS Part II (GBEs not consolidated) 2017 5 Accrual IPSAS Financial statements in full compliance accrual IPSAS 2020 6 Ongoing Programme for ongoing adoption of new IPSAS Ongoing

11. Identifying the data sources

12. Government entity – IPSAS vs GFS/SNA definition The Public Sector Government Business Enterprises Central Government Sub-national Governments LEPLs LEPLs The General Government Sector (GFS/SNA) Central Gov’t IPSAS Entity Sub-national IPSAS entities

14. Georgia IPSAS Reporting Entity – Phases 1 through 4 Central Government All Ministries of Central Gov’t LEPLs (except those which are GBEs or not controlled by Gov’t) LEPLs which are actually GBEs LEPLs not controlled by Central Gov’t Central gov’t entity to be consolidated

17. LEPL or GBE decision tree

20. P rocedure for audit and publication Published on web and as printed report available for the general public IPSAS compliant Financial Statements prepared by Treasury Submitted to Chamber of Control for audit Submitted to legislature with audit report