a)

i) Main areas of activities undertaken by the board to deliver its mandate. The International Public Sector Accounting Standards Board (IPSASB) is responsible for developing and issuing International Public Sector Accounting Standards (IPSAS) for use by public sector entities around the world. Here are the major areas of activities undertaken by IPSASB to deliver its mandate:

1. Standard Setting
   • Developing new standards: IPSASB develops and issues new IPSAS to address emerging issues and improve financial reporting in the public sector.
   • Revising existing standards: IPSASB reviews and revises existing IPSAS to ensure they remain relevant and effective.
2. Guidance and Implementation Support
   • Guidance papers: IPSASB issues guidance papers to provide additional guidance and clarification on specific IPSAS requirements.
   • Implementation guidance: IPSASB provides implementation guidance to help public sector entities implement IPSAS.
3. Research and Development
   • Research projects: IPSASB undertakes research projects to identify areas for improvement in public sector financial reporting.
   • Development of new guidance: IPSASB develops new guidance and standards based on research findings.
4. Stakeholder Engagement
   • Consultations: IPSASB conducts consultations with stakeholders to gather feedback and input on proposed standards and guidance.
   • Outreach activities: IPSASB engages in outreach activities to raise awareness about IPSAS and promote their adoption.
5. Collaboration and Partnerships
   • Partnerships with international organizations: IPSASB collaborates with international organizations, such as the International Monetary Fund (IMF) and the World Bank.
   • Collaboration with national standard setters: IPSASB works with national standard setters to promote the adoption of IPSAS.
6. Education and Training
   • Training programs: IPSASB provides training programs for public sector entities and professional accountants.
   • Educational resources: IPSASB develops educational resources, such as webinars and e-learning modules, to support the implementation of IPSAS.

     ii) Non-authoritative materials that the IPSASB develops and issues in fulfilling its objectives. The International Public Sector Accounting Standards Board (IPSASB) develops and issues various non-authoritative materials to support the implementation of International Public Sector Accounting Standards (IPSAS) and to provide guidance on public sector financial reporting. Here are four non-authoritative materials that IPSASB develops and issues:

     1. The Conceptual Framework establishes the concepts that are to be applied in developing IPSASs.
     2. Recommended Practice Guidelines (RPGs) applicable to the preparation and presentation of GPFRs to provide guidance that represents good practice that public sector entities are encouraged to follow.
     3. Studies to provide advice on financial reporting issues in the public sector. They are based on study of the best practices and most effective methods for dealing with the issues being addressed.
     4. Other papers and research reports to provide information that contributes to the body of knowledge about public sector financial reporting issues and developments. They are aimed at providing new information or fresh insights and generally result from research activities such as literature searches, questionnaire surveys, interviews, experiments, case studies and analysis.

        b) Responsibilities of the Minister of Finance

        1. The Minister is responsible for the policy and strategic matters related to the efficient operation of the public financial management system of the country subject to policy guidance from Cabinet.
        2. Prepare the annual and supplementary budget estimates and reports for submission to Parliament.
        3. Monitor and assess the implementation of the annual budget and ensure the implementation of the fiscal policy of Government.
        4. Manage government property, financial assets, Government debts, Government guarantees, and other contingent liabilities specified under this Act.
        5. Coordinate and mobilize resources including financial assistance from development partners and integrate the resources into the planning, budgeting, reporting and accountability processes provided under this Act.

        Functions of the Central Bank the Bank shall for the purposes of section 3 perform the following functions: a) Formulate and implement monetary policy aimed at achieving the objects of the Bank. b) Promote by monetary measures the stabilization of the value of the currency within and outside Ghana. c) Regulate, supervise and direct the banking and credit system and ensure the smooth operation of the financial sector. d) Promote, regulate and supervise payment and settlement systems. e) Act as banker and financial adviser for the Government.