Harmonization and simplification of business practices

The harmonization and simplification of business practices in the United Nations system continued to be a key priority of the Board during the reporting period, pursuant to General Assembly resolutions 62/208, 63/311 and 64/289 as well as Economic and Social Council resolution 2011/7, in which the United Nations system was encouraged to continue its efforts to harmonize and simplify business practices through common strategies and operations with a view to generating cost savings and reducing administrative and procedural burdens.

International Public Sector Accounting Standards

The adoption of the International Public Sector Accounting Standards (IPSAS) was recommended by the High-level Committee on Management to improve the quality, comparability and credibility of financial reporting across the United Nations system. In 2006, the General Assembly, by its resolution 60/283, approved the adoption of IPSAS by the United Nations. IPSAS are independently developed financial reporting standards that are considered best practice for public sector entities.