UN adopts accrual accounting

A United Nations unit is coordinating the introduction of International Public Sector Accounting Standards (IPSAS) accrual systems across all agencies of the global body, helping auditors crack down on fraud. The UN Task Force on Accounting Standards is overseeing the development of implementation timetables, which must see all UN agencies and branches adopting IPSAS by January 2010, except for peacekeeping operations - by July 2010. A taskforce note said: “IPSAS…addresses the international and not-for- profit nature of UN system organisations.”