Court of Auditors Implementation of IPSAS 28, 29 I take note of this suggestion and IPSAS 28, 29, 30 have been Sugg. 2 and 30 confirm that this will be taken into implemented with minimal impact Implemented 2012 Management assured us about its account during the implementation regarding the recognition and involvement in the implementation of IPSAS 28, 29 and 30 in 2013. valuation of the financial of IPSAS 28, 29 and 30 and we will instruments, due to the nature of follow-up the issue. Therefore, we ITU financial instruments, which suggest Management to eventually were already recognized and value reconsider the classification of accordingly to the standard in non-current assets, implemented and the options “Investments” and to assess whether the included in these standards. investments will be held to maturity The financial operating reporting or not. disclosures have been amended to produce IPSAS 30 compliant information. Suggestion presented Comments received from Status as Status on actions taken by Italian court of Auditors Secretary-General at the time of reported by ITU Management by Management as evaluated by the issuance of the report Italian Court of Auditors
Court of Auditors Sugg. 2 2012 Implementation of IPSAS 28, 29 and 30 Management assured us about its involvement in the implementation of IPSAS 28, 29 and 30 and we will follow-up the issue. Therefore, we suggest Management to eventually reconsider the classification of “Investments” in non-current assets, and to assess whether the investments will be held to maturity or not. I take note of this suggestion and confirm that this will be taken into account during the implementation of IPSAS 28, 29 and 30 in 2013. IPSAS 28, 29, 30 have been implemented with minimal impact regarding the recognition and valuation of the financial instruments, due to the nature of ITU financial instruments, which were already recognized and value accordingly to the standard implemented and the options included in these standards. The financial operating reporting disclosures have been amended to produce IPSAS 30 compliant information. Implemented Suggestion presented by Italian court of Auditors Comments received from Secretary-General at the time of the issuance of the report Status as reported by ITU Management Status on actions taken by Management as evaluated by Italian Court of Auditors
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