The Status of Public Accounting Basis & Standards Adoption Globally
Every day, governments spend large sums of public funds on a range of services and infrastructure for their citizens. Good public financial management is essential to ensure that these funds are managed in the public interest and to build and sustain public trust in government.
IFAC and The Chartered Institute of Public Finance and Accountancy (CIPFA), with the Zurich University of Applied Science as a knowledge partner, developed The International Public Sector Financial Accountability Index to track the quality of public sector financial reporting around the world, delivering a country-by-country snapshot of public financial reporting and budgeting, as well as plans for future reform in each jurisdiction.
The Index focuses on federal/central government, and will be expanded over time to include state/provincial and local government.
The Index will provide:
Where We Stand: A Snapshot of Central Governments
Which accounting basis was/will be applied in preparing the financial statements/reports for the Federal/Central Government for the most recently complete financial year?
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