Consolidation of Financial Statements at Different Levels of Government

The main objective of this Technical Note is to identify, explore, and propose an integrated process to facilitate the consolidation of financial statements in the public sector and the compilation of Government Finance Statistics (GFS), considering jurisdictions’ experiences and international good practices from Brazil, Georgia, Spain, and Switzerland. In doing so, the Technical Note highlights some challenges that jurisdictions have faced in the reconciliation process and the means of address.