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Latest ITER Newsline

  • Neighbours | In goes the antenna

    Just a short distance from the ITER site, the Institute for Magnetic Fusion Research (IRFM) is modifying the Tore Supra plasma facility which, once transformed, [...]

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  • Remote handling | Off-site test facility for design evaluation

    Through a technical collaboration established between the ITER Organization and the UK Atomic Energy Authority (UKAEA) in 2017, the UKAEA's centre for Remote Ap [...]

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  • Poloidal field coils | A tailor-made ring

    They work like tailors, carefully taking measurements and cutting immaculate fabric with large pairs of scissors. But they're not making a white three-piece sui [...]

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  • Fusion world | Record results at KSTAR

    Experiments in the Korean tokamakKSTAR in 2017 achieved record-length periods of ELM suppression by the application of three-dimensional magnetic fields with in [...]

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  • JT-60 SA| Cryostat ready for Europe-Japan tokamak

    The cryostat vessel body of the JT-60SA tokamakhas been successfully manufactured and pre-assembled at a factory in Spain, and will soon be transferred to the J [...]

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Of Interest

See archived articles

Left column, right column and beyond

The ITER Organization manages its finances within the strict rules of the International Public Sector Accounting Standards (IPSAS). A two-day meeting with IPSAS specialists was organized this week to review the standards updates and optimize the way they are implemented by ITER. (Click to view larger version...)
The ITER Organization manages its finances within the strict rules of the International Public Sector Accounting Standards (IPSAS). A two-day meeting with IPSAS specialists was organized this week to review the standards updates and optimize the way they are implemented by ITER.
Whether you're doing your home finances or running the Finance & Budget Division of an international organization such as ITER, you basically act on the same principles: what comes in goes into the column on the left; what goes out goes into the column on the right ... and the total must be balanced.

Now of course there are differences. Finances at ITER are a rather complex affair. The Organization is accountable to authorities such as the ITER Council; its finances are audited twice a year by the Financial Audit Board; and are published through the annual ITER Organization Financial Statements.

Like most, if not all, public organizations or private companies, the ITER Organization manages its finances within strict rules. One set of rules is internal and is called the "Project Resource Management Regulations (PRMR)"; the other is a set of international standards, specific to public entities—the "International Public Sector Accounting Standards (IPSAS)."

Upon its inception, the ITER Organization voluntarily adhered to the 32 standards of IPSAS. However, some very specific aspects of the project's organization, such as the nature of its contributions and assets or their valuations over time, were not fully anticipated by the experts who drafted the IPSAS.

In order to become more familiar with the IPSAS updates and their application to the ITER Organization's specific accounting issues, the Accounting, Treasury and Systems Section of the ITER Finance & Budget Division organized a training session early this week (10-11 September). Professor Frans Van Schaik, a partner at the auditing firm Deloitte Netherlands and a former member of the IPSAS Board (2006-2011), and Juliette Nahon, a Public Sector manager at Deloitte France, came to Cadarache to further develop the internal IPSAS knowledge and to share with the ITER Accounting staff their worldwide experience.

"The aim," explains Senior Accountant Lionel Rigaux, "was to review the principles, applicability and disclosures required by the IPSAS and to optimize the way we implement them in order to strengthen our ability to produce high-quality Financial Statements leading to the Auditor's certification."


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