NEW YORK – A new report by the Association of Chartered Certified Accountants (ACCA) and the International Federation of Accountants (IFAC) highlights the benefits of accrual information in the public sector and identifies the positive impact on citizens’ 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