Alignment of IPSAS and Government Finance Statistics Reporting Guidelines

Project Status

Consultation Paper - IPSASs and Government Finance Statistics Reporting Guidelines published on October 17, 2012 with a comment date of March 31, 2013. 

Policy Paper - Process for Considering GFS Reporting Guidelines during Development of IPSASs published on February 12, 2014. 


This project will involve an analysis of the differences between the revised Government Finance Statistics Manual 2008 (GFSM 2008) and pronouncements in the IPSASB Handbook of International Public Sector Accounting Pronouncements and an evaluation of the extent to which further harmonization between statistical reporting guidance and IPSASs might be feasible. The project will also involve the development of an illustrative Chart of Accounts that could facilitate compilation of reports based on the statistical reporting guidance and IPSASs and an evaluation of whether amendments should be made to IPSAS 22, Disclosure of Financial Information about the General Government Sector in the light of changes to System of National Accounts 2008 (SNA 2008) and updated GFSM and European System of Accounts 1995 (ESA 95).


João Fonseca

Task Force

The Task-Based Group consisted of: Ian Carruthers (Chair), John Verrinder, Lindy Bodewig, Marta Abilleira, Sagé de Clerck, Thomas Muller-Marques Berger, Tim Youngberry and Andre Schwaller, Bruno Fabrício Ferreira da Rocha and Karen Sanderson.



A continuing emphasis on harmonization with statistical accounting is a component of the IPSASBs theme of public sector critical projects. The project will reinforce awareness of the linkage between statistical reporting guidance and IPSASs. Development of an illustrative Chart of Accounts would be an important contribution to the IPSASB’s strategic theme of Outreach and Adoption and would strengthen the likelihood of adoption of IPSAS by governments. The IPSASB has a standard related to this project. IPSAS 22 prescribes disclosure requirements for governments which elect to present information about the general government sector (GGS) in their consolidated financial statements. IPSAS 22 was issued in December 2006 and has not been revised for changes to IPSASs and changes to statistical reporting guidance.


Issues the project needs to take into consideration include (but are not necessarily limited to):

  • Development of the broad description of relationships between accounting standards and statistical reporting guidance in time for inclusion as an Appendix in the revised GFSM and as a note for countries applying ESA;
  • To ascertain the nature and extent of differences between IPSAS and statistical accounting guidance by updating the matrix that formed the core of the 2005 Research Report, IPSASs and Statistical Bases of Financial Reporting: An Analysis of Differences and Recommendations for Convergence;
  • Analysing the extent to which the remaining areas of difference can be addressed, including whether there is further scope for harmonization between statistical reporting guidance and IPSASs;
  • To consider whether IPSAS 22 is still robust in the light of the revisions to the GFSM; and
  • To ascertain whether development of a Chart of Accounts that can be applied to both IPSAS and GFSM/ESA is feasible.
Task Force progress / Board discussions to date

 Board discussions to date


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