Enable Recite

Subscribe options

Select your newsletters:

Please enter your email address:

@

Your email address will only be used for the purpose of sending you the ITER Organization publication(s) that you have requested. ITER Organization will not transfer your email address or other personal data to any other party or use it for commercial purposes.

If you change your mind, you can easily unsubscribe by clicking the unsubscribe option at the bottom of an email you've received from ITER Organization.

For more information, see our Privacy policy.

News & Media

Latest ITER Newsline

  • FEC 2020 | E-conference opens, participation never higher

    The 28th IAEA Fusion Energy Conference (FEC) is off to an auspicious start. Open to the public for the first time thanks to the technical possibilities of an al [...]

    Read more

  • Vacuum vessel in Europe | Fitting the pieces virtually

    A 'virtual fit' tool developed by the European Domestic Agency is helping the vacuum vessel manufacturing team anticipate the challenge of final assembly—the mo [...]

    Read more

  • Gas injection system | Last manifolds completed in China

    Contractors to the Chinese Domestic Agency have completed an important part of the gas injection system—the distribution manifolds that carry gas species from t [...]

    Read more

  • Magnets | Seventh vertical coil reaches ITER

    Seven toroidal field coils have reached ITER in the past year. The latest, TF3 from Europe, passed through the ITER gates on Friday 3 May. The European and Japa [...]

    Read more

  • Tritium Building | Work resumes

    The energy-producing plasmas in ITER will be fuelled in equal measure by the hydrogen isotopes deuterium and tritium. Deuterium is a stable element that industr [...]

    Read more

Of Interest

See archived entries

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."


return to the latest published articles