Adoption and Implementation
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).
The Confederation of Asian and Pacific Accountants (CAPA) has developed case studies that examine the extent and nature of the profession’s engagement with the public sector, to encourage increased engagement by professional accountancy organizations. To access the case studies, please visit: Case Study 1: India, Case Study 2: Malaysia