Port Sudan, March 9, 2026 (SUNA) – The State Minister at the Ministry of Finance, Mohamed Nour Abdel-Daim, chaired on Sunday at the Ministries Complex in Port Sudan the inaugural meeting of the committee tasked with adopting the International Public Sector Accounting Standards (IPSAS) in the public sector, an initiative led by the National Audit Chamber (NAC).The State Minister affirmed that implementing IPSAS is part of the government’s public financial reform program, spearheaded by the Ministry of Finance to enhance transparency and sound governance. He highlighted that applying international accounting standards facilitates international comparison of financial performance, aids in determining the value of fixed assets for assessing future financial obligations, and enables the state to issue highly reliable financial reports.He noted that the strategic objective of this initiative is to transition from cash-based accounting to wealth-based accounting (accrual basis), aligning government practices with global standards to promote transparency and attract foreign investment.For his part, Acting Director-General of the National Audit Chamber and Chair of the Public Sector IPSAS Adoption Committee, Al-Tayib Al-Sadig, explained that the committee was formed by the State Minister with participation from relevant entities, including the Accounting and Auditing Organization Council, university academics, state audit offices, and representatives from financial and accounting bodies across public and private institutions. He stressed that implementing international accounting standards contributes to timely issuance of highly reliable financial reports, enhances credibility and accuracy in data presentation, improves the country’s financial ranking, facilitates access to credit, reduces waste, optimizes the use of public resources, and provides accurate data supporting the state’s strategic planning. He added that adopting IPSAS in the public sector is not merely a cost but a real investment.Dr. Mustafa Najm Al-Bushari of Sudan University of Science and Technology said the committee reviewed the core agenda for applying accounting standards across state institutions. He emphasized that these standards are essential to governance, public finance management, transparency, and accountability. He added that unified financial statements are foundational for building the state’s financial and economic structure and are central to Sudan’s future, reviewing the country’s historical experience in public finance and financial integrity.Professor Al-Hadi Adam of Nileen University highlighted the committee’s role in developing the accounting profession and applying IPSAS in both public and private sectors. He noted that the initiative extends the work of the Accounting Profession Regulatory Council and plays a critical role in curbing financial and administrative corruption, streamlining financial operations in Sudan, and objectively evaluating the performance of public and private institutions according to international standards. He confirmed that the meeting concluded on the need to develop a roadmap for implementing these standards, praising the Minister of State’s genuine contribution to financial reform.Dr. Ramadan Hassan, representing the Accounting and Auditing Regulatory Council, summarized the meeting’s key recommendations for IPSAS adoption, including addressing challenges in applying global standards, enhancing transparency, improving financial performance, ensuring accountability, and optimizing resource use efficiently. He stressed the importance of knowing state assets, debts, and debt servicing. Dr. Ramadan added, “We believe the Government of Hope has embarked on genuine reform.”Attendees included Professor Al-Hadi Adam (Nileen University), Dr. Ramadan Hassan (Accounting and Auditing Regulatory Council), Dr. Mustafa Najm Al-Bashari (Sudan University of Science and Technology), Mohamed Mustafa Al-Shafi’ and Mutasim Salih Abdel-Fadiel from the National Audit Chamber.Participating virtually were Dr. Mohamed Hassan Azrag, President of the Accounting and Auditing Profession Regulatory Council; Salah Idris, Director of Financial Affairs in the Oil Sector; as well as representatives from the Tax and Customs authorities, auditing bodies, global partners from the World Bank and the International Monetary Fund, and representatives of the International Federation of Accountants and African regional financial associations.BH/BH