Implementation of IPSAS in United Nation Economic Commission for Africa has broughtrndifferent advantage on financial reporting, even though, there were some problems on level ofrnimplementation in different units. The overall objectives of the study were to assess the impactrnof implementation of IPSAS on financial reporting. The study used mixed research approachrnand survey research strategy to get important information. The research follows purposivernnonprobability sampling techniques to address the issue. The primary data was collectedrnthrough structured questionnaire from UNECA employees and managements. The study usesrnprimary data with the help of survey questionnaire, key informants were interviewed, andrnsecondary data sources examined. The collected data were analyzed using descriptive andrninferential statistics depending on the characteristics of the data. The raw data was analyzedrnusing descriptive and inferential statistics. The findings of the study indicated that, costrneffective, comparability, relevance, understandable, faithful representation and timelinessrnexplain 67.9% of the variance of changes due to adoption of IPSAS for financial reports. 32.1%rnof the variation is caused by the factors other than the predictors included in this model. Thernregression analysis showed that relevance, faithful representation, understandability,rncomparability and timeliness are statistically significant. The research also suggested thatrnefforts to be made with regard to equal level of implementation of IPSAS in different unit ofrnUNECA by evaluating the existing level of implementation, by creating awareness forrnemployees on IPSAS benefit, allocate adequate resource on IPSAS adoption and facilitaterntraining for staffs.