Public Sector Accounting (PSA)

The Smart Interactive Talk (SIT) virtually hosted more than 170 participants from more than 20 countries. The main objective of this SIT was to: (i) discuss the existent methodology and the best way of its use in public sector; (ii) present IPSASB position on the topic; (iii) explore the benefits of financial statements for investors and Credit Rating Agencies; (iv) present countries/cities experiences in using performance indicators.

The Workshop hosted virtually about 180 participants from 32 countries.

Execution of core government functions and public sector service delivery crucially relies on the availability of effectively managed public sector assets. A well-informed and evidence-based management of financial and non-financial assets is crucial for governments and citizens. In this regard, Public Sector Accounting (PSA) reforms create fruitful conditions for an efficient use of public sector resources and therefore are an important prerequisite for sound public sector fixed asset management.

The Workshop hosted virtually about 60 participants from about 11 countries.

The implementation of accrual accounting is a long-term project in the public sector, and clarity of direction is important. None of the countries deciding to initiate PSA reform have the same starting point, capabilities, and DRIVERS. It is important to acknowledge this fact in setting country’s reform objectives and paths.

Supporting the development of accountants & finance professionals in its beneficiary countries is one of the main objectives of PULSAR Education Community of Practice (EduCoP). Between October 2019 and early 2020, an IPSAS Training of Trainers (ToT) Program for the core group of trainers from PULSAR participating countries was completed and formed the basis for further scaling up IPSAS training in beneficiary countries.

The Workshop hosted virtually about 135 participants from 34 countries.

Governments are entrusted to manage public resources and deliver a wide range of public services in a sound, cost-effective, and sustainable manner. However, many countries still face significant challenges in the quality of financial reporting, including its consistency and comparability.

Supporting the development of accountants & finance professionals in its beneficiary countries is one of the main objectives of PULSAR Education Community of Practice (EduCop). Between October 2019 and early 2020, an IPSAS Training of Trainers (ToT) Program for the core group of trainers from PULSAR participating countries was completed and formed the basis for further scaling up IPSAS training in beneficiary countries.

Accrual accounting reporting, which means recording the economic substance of transactions when they occur regardless of the occurrence of their respective cash settlement, is fundamental to good decision making, transparency and accountability.

The PULSE aims to support national and subnational governments in developing efficient and effective PSA systems. To achieve that goal, it is essential for governments to have a comprehensive understanding of the status of their PSA system and the associated public sector environment.

This SIT aimed at exploring different international models for Public Sector Accounting education and reviewing the local and regional approaches to promoting accounting education in the Public Sector from PAOs prospective. During the session, members had the opportunity to learn from a number of countries outside of the region (specifically South Africa, Philippines and Vietnam) and compare them to relevant models in the CoP member countries.

Pathways to Accrual is a tool, developed by the IPSAS Board, which intends to assist public sector entities, including national, regional, and local governments, and related governmental entities and international governmental organizations wishing to report on the accrual basis of accounting. It is primarily intended to assist public sector entities transitioning from cash to the accrual basis of accounting, and it may also be useful for entities currently reporting on an accrual basis and considering the adoption of IPSAS.