New Report Examines Why Accrual information is Critical to the Public Sector

[News]

A new report by ACCA and IFAC highlights the benefits of accrual information in the public sector and identifies the positive impact on citizen lives.  

In interviewing 20+ public sector experts – including IPSASB Board member Neema Kiure-Mssusa, IPSASB Program and Technical Director Ross Smith, and IPSASB Principal Joao Fonseca – the report also provides 30 recommendations for governments to improve accrual implementation.

In asking “Is Cash Still King?” IFAC and ACCA examine how important accrual information is for a strong public sector, economy, and citizen well-being. Aligned with these outcomes, the IPSASB remains committed to the strategic objective of strengthening public financial management by increasing adoption of accrual-based IPSAS. [Hear our Chair, Ian Carruthers, discuss how the IPSASB works to strengthen public financial management.]

We encourage you to read the report and to share with your stakeholders.

There are more public sector insights available on our YouTube playlist. In particular, check out:

• IPSASB Deputy Chair Mike Blake discussing the benefits of accruals for strategic asset management in the public sector
• IPSASB Member Bernhard Schatz exploring why governments should add public sector pension liabilities to the balance sheet
• Fergus McCormick of the Emerging Markets Investors Alliance exploring how investors interpret information on public finances
• Jacob Soll, USC Professor, discussing why balance sheet information must inform executive decision making in the public sector

 

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