The adoption of accrual accounting by governments is gathering momentum. If a government were to adopt accrual accounting now, is the adoption of IPSAS the most sensible option?

ICAEW welcomes proposed statutory guidance that establishes a corporate governance code for local authorities in England, but says councillors need better training and support if they are to be able to hold leaders to account.

Alison Ring, ICAEW Director Public Sector and Taxation, says we must take a once-in-a-generation opportunity to fix long-standing underlying problems with the way local government financial statements are used.

Our chart looks at the £3.3trn of net liabilities presented in the UK government’s consolidated financial statements for the year ended 31 March 2021 that were finally published more than 27 months after the balance sheet date.

Find out about the decisions made at the recent meeting of the International Public Sector Accounting Standards Board and the implications for financial reporting in the public sector.

This is the fourth instalment in a series looking at the differences between International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS), and the suitability of each for public sector financial reporting.

What are the key financial reporting projects currently being worked on by the International Public Sector Accounting Standards Board (IPSASB)?

What do governments need to be thinking about in accounting for financial loan guarantees?

Access a range of resources from IPSASB to help maintain strong public financial management during the pandemic.

A response dated 10 November 2020 to an invitation to comment published by the UK Endorsement Board in October 2020.

An ICAEW discussion paper to help generate a broad consensus on how to achieve reform of public sector accounting across Europe by 2025.