In Focus
Major Events in 2017
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At the Accountability. Now. Nigeria conference—held by the Institute of Chartered Accountants of Nigeria last October—former IFAC President Olivia Kirtley delivered the keynote speech on good governance and accountability in the public sector. Given the large sums that flow through governments, she noted the urgency of public financial management (PFM) reform, and commended the Nigerian Ministry of Finance decision to adopt accrual-based International Public Sector Accounting Standards—or IPSAS—as the government’s reporting framework.
Public Financial Management, Strengthening Institutions and Accountability—a conference held in Madagascar last October—saw accountancy leaders discuss how PFM reform in Francophone Africa could be expedited. Delegates underscored the public sector capacity challenge, and recognized many more accounting professionals are required to achieve the desired reform outcomes. The event was hosted by IFAC, the Pan African Federation of Accountants (PAFA), Fédération Internationale des Experts Comptables et Commissaires aux Comptes Francophones (FIDEF), World Bank, and African Development Bank.
The XXII International Congress of the International Organization of Supreme Audit Institutions (INCOSAI) was held last December in Abu Dhabi, UAE, and attracted participants from 192 countries and 15 international and professional organizations. IFAC’s presentation highlighted key areas in which it and INTOSAI are natural partners: public sector governance, accounting, auditing, sustainable development goals, and the Accountability. Now. initiative.
Experts tell IFAC’s GatewayTV why high-quality public financial accounting matters:
- Chair, CIPFA International Ian Ball.
- Former UK Shadow Chancellor of the Exchequer & Senior Fellow, Harvard Kennedy School Ed Balls.
- Dean, Leventhal School of Accounting; Alan Casden Dean's Chair; and Professor of Accounting, USC William Holder.
- Global Public Sector Accounting and Auditing Leader, Deloitte Frans van Schaik.
- Director General, Budget and Public Finance, Austria Gerhard Steger.
- Economist and Senior Fellow, Bruegel Nicolas Véron.
- Former US Comptroller General, Senior Strategic Advisor, PwC David Walker.
See also the Accountability. Now. video on why every citizen should care about government spending.
This global conference explored:
key drivers for change in the public sector;
skills required by professional public sector accountants and organizations to continue to add value; and
common IPSAS implementation issues, and practical solutions.
Launched at the event, 50 Drivers of Change in the Public Sector explores how change will impact the public sector in the coming 5 years.
The 17th Annual Meeting of Organisation for Economic Co-operation and Development (OECD) Senior Financial Management Officials is dedicated to accrual developments in individual countries, and will provide an opportunity for delegates to exchange information about their countries’ reforms.
This invitation-only event, jointly organized by the IPSASB, World Bank, and International Monetary Fund, will discuss the current state of accrual practices in the public sector, how it supports strong PFM and increased transparency, and what needs to be done to achieve successful reforms.
This Latin America and Caribbean flagship learning initiative supports regional economic growth and development. This year’s event will include a session on improving financial reporting and accountability frameworks in the public and private sectors. Part of the event is open to the public and can be attended by interested institutions and individuals for a registration fee. Website, including registration information, coming soon. Learn more.
- The International Framework: Good Governance in the Public Sector, issued by IFAC and the Chartered Institute of Public Finance and Accountancy in 2014 offers practical assistance to enhance decision making and accountability.
- Getting to the Heart of Decision Making—Whitehall’s Financial Management Reform, issued by the Institute for Government and Chartered Institute of Management Accountants in December 2016, examines the UK Government’s Financial Management Reform program and why the UK changes have been imposed.
- The Future of EU Public Sector Accounting in a Global Context, an Institute of Chartered Accountants in England and Wales Discussion Paper, encourages broad consensus across public and private sector stakeholders to achieve public sector accounting reform across Europe. Responses in any form from interested stakeholders are encouraged by March 31, 2017.
- Guide on Principles and Mechanisms on Public Participation in Fiscal Policy, issued by Accountability. Now. partner Global Initiative for Fiscal Transparency (GIFT), provides guidance on how to integrate public participation into fiscal policy and how to capture the associated benefits.
- In this interview, Jamaica’s Auditor General and IFAC Board member Pamela Monroe Ellis talks about the fight against corruption in government.
- “IPSAS enable governments to account for material liabilities such as debt, pensions, and service concessions,” argues Amon Dhliwayo in this South African Institute of Chartered Accountants (SAICA) article, “IPSAS Adoption in Africa.”