IASB

Government has been charged to ensure that the International Financial Reporting Standards (IFRS) is complied with if it goes ahead to implement the Domestic Debt Exchange Programme. According to the Institute of Accountants Ghana (ICAG), even though its effect on individuals and businesses cannot be ruled out, the programme must adhere to the London-based Accounting Standards Board (IASB) and address record keeping, account reporting, and other aspects of financial reporting. “ICA Ghana has made submissions already in the process and some of the submissions are tilted to the fact that the debt restructuring will definitely have implications for financial reporting,”…