Aspect | Summary |
Translation and Roadmap | Greece translated IPSAS into Greek and developed a roadmap for implementation, outlining steps and timelines. |
Financial Reporting | Greece shifted from cash-based accounting to accrual accounting, improving financial statement quality and transparency. |
| Disclosure requirements in financial reporting were enhanced, providing more detailed information. |
Challenges | Challenges include strengthening internal controls, capacity-building, addressing cultural and institutional barriers. |
Opportunities | Adoption of international accounting standards provides opportunities for improved decision-making and benchmarking. |