KHARTOUM, June 8 (SUNA) — The State Minister of Finance, Mohamed Nour Abdel-Dayem, chaired the third meeting of the Committee for the Adoption of International Public Sector Accounting Standards (IPSAS) at the ministry’s headquarters in Khartoum on Monday. The project is being implemented by the National Accounts Chamber, and the meeting was attended by the Chamber’s Director-General, Al-Tayib Al-Sadiq, alongside committee members. The State Minister was briefed on the committee’s operational updates and the executive milestones achieved thus far. He revealed that the committee has established communication channels with relevant international organizations, including the International Federation of Accountants (IFAC), the Eastern Central and Southern African Federation of Accountants (ECSAAG), South African accounting bodies, the International Monetary Fund (IMF), and the United Nations. He noted that virtual meetings were held with technical experts from these institutions, who expressed their full readiness to provide comprehensive technical support. The State Minister explained that the implementation of IPSAS is a pivotal component of the nation’s public financial management reform program. The transition aims to enhance fiscal transparency and good governance, facilitate international comparisons of financial performance, accurately determine the value of fixed assets and future liabilities, and ensure the issuance of highly reliable financial reports. He emphasized that the ultimate strategic objective is to transition from cash-based accounting (“fund accounting”) to accrual-based accounting (“wealth accounting”) in alignment with global benchmarks, thereby boosting the country’s capacity to attract foreign direct investment. For his part, the Director-General of the National Accounts Chamber reviewed the key structural steps completed in this path, which include updating government accounts, implementing the Unified Accounting System, deploying the Government Finance Statistics (GFS) framework, and modernizing financial regulations and legislation to keep pace with contemporary developments. He noted that the committee’s outputs will serve as a comprehensive roadmap to ensure continuous system upgrades and elevate Sudan’s international financial rating. Concurrently, the Chairman of the Council for the Regulation of the Accounting and Auditing Profession, Dr. Mohamed Hassan Azraq, announced ongoing arrangements to execute specialized domestic and international training programs in cooperation with the Council and with the backing of international partners. Committee members underscored that capacity-building for the financial workforce remains the cornerstone for the project’s long-term success. The meeting saw virtual participation via video conference from Dr. Ramadan Hassan, Secretary-General of the Council for the Regulation of the Accounting and Auditing Profession; Professor Mustafa Najm El-Bishari of the Sudan University of Science and Technology; Dr. Bishara Adam; and the remaining committee members representing various states.BH/BH