UNDP Global Centre Ready to Provide Technical Support to Malaysian Government On Best Practice International Public Sector Accounting StandardsNov 29, 2012
Cyberjaya, November 29, 2012 –UNDP officially launched its Global Shared Service Centre (GSSC) on International Public Sector Accounting Standards (IPSAS) in Cyberjaya today.
The Centre, which officially began operations on January 1, 2012, has been established to support UNDP’s adoption of “best practice” International Public Sector Accounting Standards (IPSAS) and represents a key step towards increasing transparency, accountability and raising financial management standards. The adoption of IPSAS was mandated by UN General Assembly resolution 60/283. For UNDP, IPSAS is of significant importance given its General Assembly mandated roles, including, most importantly, supporting the UN Resident Coordinator system and providing services to the entire UN system.
The Centre was launched by Senator A. Kohilan Pillay, Deputy Minister of Foreign Affairs, Malaysia, Mr Jens Wandel, United Nations Assistant Secretary General, Assistant Administrator and Director, Bureau of Management, UNDP, New Yorkand Mr. Kamal Malhotra, UN Resident Coordinator, Malaysia and UNDP Resident Representative for Malaysia, Singapore and Brunei Darussalam.
Mr. Jens Wandel said, “UNDP’s Global Shared Service Centre directly contributes to Malaysia’s aim of becoming a provider of complex and professional financial services. It is also a further sign of the success of Malaysia’s strategy of becoming a regional and global hub for professional financial services. The Global Shared Service Centre provides professional support to UNDP’s development activities in 177 countries and territories, relying heavily on connectivity and communications infrastructure, in order to seamlessly support global operations.”
The Centre is already delivering clear and tangible benefits for UNDP’s global operations, its partners and clients since it has delivered almost 5,000 complex revenue transactions in the last 11 months, with a total value of around USD $3 billion to be used for development activities globally. It has delivered over 2,000 asset transactions, ensuring that UNDP’s fixed assets are acquired, controlled, disposed of, and accounted for in accordance with best practices. It has delivered excellence against challenging service expectations, challenging the status quo of mediocre service provision and establishing new horizons for future service delivery models and has successfully supported UNDP’s adoption of IPSAS, thus ensuring improved stewardship and transparency, greater credibility, improved accountability, improved consistency and comparability of financial information across the UN system.
Mr Kamal Malhotra said, “Over the past 11 months, the GSSC has already shown the potential to become the Centre of Excellence it was intended to be as a global focal point of support to UNDP worldwide specialising in IPSAS transactions that are complex and require expert skills. The Centre is supporting the three most challenging areas of UNDP’s Financial Management processes including Revenue, Asset and very soon, Expense management as well. It offers both transactional and advisory support service to UNDP offices worldwide serving 177 countries and territories across multiple time zones.
As the Government of Malaysia moves to implement International Public Sector Accounting Standards (IPSAS) across all Government agencies over the next few years, the GSSC can and will also provide an impetus to and be able to technically support the Government of Malaysia’s move to IPSAS by providing training and other capacity building activities.”
Kamal added that “The shortlist included strong competitor UN member states from Latin America, East and Southern Africa, Eastern Europe and Asia. Malaysia was identified by UNDP as the preferred location from within the final shortlist of global options.”
The establishment of the GSSC has also increased the presence of United Nations agencies in Malaysia. Other recent additions to the UN family of agencies in Malaysia include the WHO Global Service Center in Cyberjaya, and more recently, the WFP Regional Humanitarian Depot for the Asia-Pacific Region in Subang. The International Labour Organisation (ILO) also established a presence in early 2012.