"The state of government reporting is 'the elephant in the room.'"
— World Bank Group CFO Vincenzo LaVia
The sovereign debt crisis has illustrated the dire consequences of insufficient transparency and accountability of governments and poor public finance management and reporting.
Governments are not risk-free and the failure of fiscal management in the public sector has an economic impact that will far exceed the impact of losses incurred by corporate failures.
This jeopardizes both the interests of the public as well as investors.
Today, many key decision-makers, politicians, and public finance management leaders are taking the key steps toward meaningful reform, including the adoption and implementation of accrual accounting and International Public Sector Accounting Standards (IPSAS).
IPSAS and Accrual Accounting News
- Group urges unvarying world accounting standards for nonprofits
- ICMA and ACCA sign a memorandum of understanding to promote IPSAS qualification in Pakistan
- Punch (Nigeria): We’ll ensure full disclosure of our financial transactions
- The collaborative effort of IFAC and MOSAIC is quietly making a huge impact on the accountancy profession
- Special Report: No easy task for transition to accrual accounting in public sector - The Edge Markets
- Bridging the divide between accountants and politicians is crucial as they share a mutual vision for affordable public services that support economic growth and tackle poverty
- Minister Kolley tables govt's audited financial report, reports the Observer (Gambia)
- CIPFA launches refreshed IPSAS qualifications
- IPSAS delivering a "more accountable" UN
- IPSAS 33, First-time Adoption of Accrual Basis IPSASs
- 2015 Handbook of International Public Sector Accounting Pronouncements
- The Importance of Accrual-based Financial Reporting in the Public Sector
- Study 14—Transition to the Accrual Basis of Accounting: Guidance for Governments and Government Entities (Third Edition)
"A Closer Look At"
The IPSASB's "A Closer Look At" series examines the challenges and benefits of governments adopting IPSAS and accrual accounting. In print and video interviews, each nation's expert describes the process and shares key details, timelines, and lessons learned.
The International Public Sector Accounting Standards Board (IPSASB)'s "A Closer Look at" series examines the challenges and benefits of governments adopting IPSAS and accrual accounting. In this edition, Juan Zhang, IPSASB Member and Director, Accounting Regulatory Department, Ministry of Finance, China, discusses China's experience with IPSAS adoption and implementation. Learn more about the IPSASB at www.ipsasb.org.IPSASB "A Closer Look at China"IPSASB "A Closer Look at: United States"IPSASB: "A Closer Look at Canada"IPSASB: "A Closer Look at: Japan"IPSASB: "A Closer Look at: Australia"IPSASB: "A Closer Look at: Austria"IPSASB "A Closer Look at: South Africa"IPSASB "A Closer Look at: Panama"IPSASB "A Closer Look at: Brazil"IPSASB "A Closer Look at: Switzerland"IPSASB "A Closer Look at: New Zealand"