Every day, governments spend money on a range of services and infrastructure for their citizens. Given the large sums involved, good financial management is essential.
But what happens when a government doesn’t produce reliable, comparable information on which to base its spending decisions from one year to the next?
What if the financial information was incomplete and, for example, didn’t account for promises made today that need to be paid for in the future, such as pension programs for its citizens and employees, or repaying debt over time?
When a government bases its spending decisions on inadequate financial information, the results can be disastrous. Poor services. Erosion of trust in government to do the right thing. Economic instability.
Accountability. Now. represents a coalition of organizations that believe there’s a better way forward for governments of all sizes.
It starts with equipping governments with the foundation for good financial management: transparent, accountable financial information that:
- captures the entire picture of funding commitments, now and in the future;
- facilitates wise spending;
- strengthens economies; and, most importantly,
- builds trust with their citizens.
Better quality financial information and increased transparency won’t solve all the challenges of governing, but they will greatly assist government decision making and performance.
Toward stronger economies.
We recognize that some of the world’s least developed nations lack the accountancy profession capacity to implement the financial information reforms supported by Accountability. Now.
Conversely, they have the most to benefit from embracing government transparency to boost economic growth and support the development of civil societies. Without good financial management, they will continue to struggle to deliver the demands placed on them.
That’s why the Accountability. Now. coalition is initially focusing on supporting developing economies.
Who’s already started their journey to Accountability. Now.?
Implementing accrual based financial reporting takes time. For some governments, the journey takes years. But the destination is worth the journey.
Take a look at who’s already started or completed implementation of the reforms championed by our coalition, what they learned on the journey, and see how transparent, accountable financial information is helping strengthen their economies through the "A Closer Look at:" series from the International Public Sector Accounting Standards Board.
Resources and reading
- World Health organization brochure - IPSASB Benefits to WHO
- ONE transparency web page
- Global Initiative for Fiscal Transparency (GIFT)
- "Accountability. Now. We Must Enhance Government Accountability and Transparency," Andreas Bergmann, Chair, International Public Sector Accounting Standards Board