GAP ANALYSIS

GAP ANALYSIS

GOVERNMENT ACCOUNTING STANDARDS ADVISORY BOARD

A Study on
Gap Analysis of Indian Government
Accounting with International Standards
A Research Study by
GASAB Secretariat

© O/o Comptroller and Auditor General of India

able of  ontents
ontents 
Foreword ............................................................................................................................ 1 
Scope ................................................................................................................................. 3 
International Developments on Cash basis IPSAS ............................................................ 5 
Gaps in Government Accounting system with mandatory requirements of 
Cash IPSAS ....................................................................................................................... 6 
Review of non­mandatory requirements of Cash IPSAS .................................................. 15 
Results of diagnostic tool for gap analysis with cash basis IPSAS ................................... 18 
Road ahead for harmonization with Cash IPSAS ............................................................. 22 
Appendix I: Overview of Government Accounting System ............................................... 24 
Appendix II: Cash Basis Standards Issued by GASAB .................................................... 26 
Appendix III: GASAB Composition ................................................................................... 28 
Appendix IV: Initiatives and Status Migration to Accural Accounting ................................ 29 

-: Foreword :The Government accounting system in our country is rule based and follows primarily, cash
basis accounting. The Comptroller and Auditor General of India has constituted Government
Accounting Standards Advisory Board (GASAB) with the support of Government of India to
facilitate reforms in Government Accounting.
The mission of GASAB is to formulate and...

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